Bookkeeping tips and guides for contractors, trades, and construction businesses.
Retainage is 5 to 10 percent of every invoice, held until the job closes out. Tracked wrong, it clogs your receivables or vanishes from your books entirely. Here is how construction retainage accounting should work in QuickBooks Online.
The rules for subcontractor 1099s just changed, and most contractors have not caught up. Starting with payments made in 2026, you only have to issue a Form 1099-NEC when you pay a subcontractor $2,000 or more in a year, up from the old $600 threshold that had been in place since the 1950s. Sounds like…
WIP tracking is how contractors see real margin job by job. Here are 5 setup mistakes that hide losses and what to fix in QuickBooks.
Job costing, WIP tracking, sub 1099s, and the four other mistakes that keep contractors bidding blind and wondering where the money went.
