In this video learn how easy it is to calculate retention using Payapps. Payapps is designed to improve collaboration between subcontractors and builders, especially when it comes to payment applications. We also make it super-easy to store all your contract and compliance information in one place and integrate with your favourite accounting packages like QuickBooks [...]
So what is retention? Retention is security held by a procuring contractor to guarantee the performance of a supplying contractor and in particular to safeguard against defects in the event that the supplying contractor fails to satisfactorily rectify them. The security is usually in the form of cash withheld (retained) but is often substituted for a bank guarantee [...]
Why we need to ditch the spreadsheet to manage Progress Claims. Let’s get one thing straight. If you’re in the construction industry and trying to keep track of Progress Claims, Excel really, really sucks. If you’re a contractor drowning in what feels like 1000 differing spreadsheets from each of your subbies, or whether you’re one [...]
While at the amazing Xerocon a few weeks back it was wonderful to not only receive positive feedback, but to hear suggestions about how we could make Progressclaim.com even better! One suggestion we received by lots of book keeping and accounting professionals with construction clients was for a configurable account setting for retention…….. Well, being the […]
These progress claim related articles are just from the last few months. Think of the masses that happen on a daily basis and don’t make the press…. Progress claim issues are a real problem in our construction industry – need proof?