Job Costing: Why Monthly Numbers Lose Margin

Job Costing: Why Monthly Numbers Lose Margin

Job costing tracks the true cost of each project against what it was bid at. When costing is reconciled only after a job closes, the loss is already locked in. Contractors who move to a weekly cost-to-complete can correct a job while it still has weeks of labor left...
Punch List: Closeout Is Where the Margin Goes

Punch List: Closeout Is Where the Margin Goes

A punch list is the record of incomplete or defective work identified at substantial completion. Contractors treat it as the end of a job. It behaves like an unbudgeted second job, staffed with the least efficient crew configuration available, performed at the point...