{"id":21973,"date":"2024-07-25T09:28:56","date_gmt":"2024-07-25T13:28:56","guid":{"rendered":"https:\/\/www.foundationsoft.com\/?p=21973"},"modified":"2025-04-14T15:01:59","modified_gmt":"2025-04-14T19:01:59","slug":"fsl-understanding-construction-billing-reports-blog","status":"publish","type":"post","link":"https:\/\/www.foundationsoft.com\/learn\/fsl-understanding-construction-billing-reports-blog\/","title":{"rendered":"How to Use Each Construction Billing Report"},"content":{"rendered":"<p><a href=\"https:\/\/www.foundationsoft.com\/learn\/are-construction-over-under-billing-reports-creating-work-overload\/\"><strong>Construction billing reports<\/strong><\/a> hold valuable insights into your <strong>cash flow<\/strong> and monitoring cash flow is how you guarantee a timely payment. Recently, slow <strong>payments<\/strong> have become a common pain point in the construction industry.<\/p>\n<p>According to\u00a0<a href=\"https:\/\/www.levelset.com\/news\/construction-cash-flow-payment-report-2022\/\">Levelset<\/a>, 95% of <strong>construction companies<\/strong>\u00a0note that they experience stress over slow payments.\u00a0<em>However, many do not take significant action to remedy payment problems.<\/em><\/p>\n<p>The solution to slow <strong>payments<\/strong> is to effectively implement construction billing reports into your operations. By understanding how to interpret and use the <strong>data<\/strong> provided by your reports effectively, you can:<\/p>\n<ul>\n<li>Identify potential delays<\/li>\n<li>Strengthen communication with <strong>clients<\/strong><\/li>\n<li>Get paid\u00a0faster<\/li>\n<\/ul>\n<a target=\"_blank\" href=\"\/learn\/#schedule-a-live-demo\" class=\"blog-cta-image\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2024\/03\/FSL-blog-post-ad-see-how.png\" alt=\"Get a Demo\" title=\"Get a Demo\"><\/a>\n<p>Ultimately, these reports help contractors more effectively manage their cash flow and forecast progress and productivity to maximize profitability.<\/p>\n<p><strong>Key Takeaways for Contractors:<\/strong><\/p>\n<ul>\n<li>The best type of billing option for a construction project depends on the specific project details and the level of certainty in the project scope.<\/li>\n<li>The most common construction billing methods are Fixed Price Billing, Time &amp; Material Billing, Cost-Plus Billing, Unit Price Billing and AIA Progress Billing. Each requires reports that vary in detail and <strong>format<\/strong>.<\/li>\n<li>Construction billing reports ensure accurate documentation and progress tracking which contribute to securing timely payments for contractors.<\/li>\n<li>Construction billing reports can be a powerful tool that helps remedy payment problems by strengthening negotiations, identifying billing <strong>issues<\/strong>, improving communication and supporting timely <strong>invoices<\/strong> and payments.<\/li>\n<li>Construction accounting <strong>software<\/strong> can automatically generate construction billing reports, allowing contractors to make faster, more informed decisions when compared to manual methods like traditional spreadsheets.<\/li>\n<\/ul>\n<p>Let\u2019s delve into the power of <strong>construction billing reports<\/strong> and how the right tools can unlock their potential to streamline your billing process and expedite payments.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_the_Most_Popular_Construction_Project_Billing_Methods\"><\/span>What Are the Most Popular Construction Project Billing Methods?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>We\u2019ll start with an overview of the various\u00a0<a href=\"https:\/\/www.foundationsoft.com\/learn\/successfully-managing-construction-project-billing\/\">construction billing methods<\/a>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Fixed_Price_Billing\"><\/span>Fixed Price Billing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Also known as <strong>Lump Sum Billing<\/strong>, this method is\u00a0where\u00a0the contractor and client agree on a total project cost upfront. The construction business is then responsible for completing the project within that budget.<\/p>\n<p>This benefits the contractor by offering a potentially <strong>higher profit margin<\/strong> by completing the project under budget and streamlining the bidding process.<\/p>\n<p>However, this method requires accurate project estimates as the only way to<strong> avoid financial losses<\/strong>. This means that any changes to the project scope through change orders will typically result in adjustments to the final cost.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Time_and_Material_T_M\"><\/span>Time and Material (T&amp;M)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The client is billed for the <strong>labor<\/strong> hours worked on the project and all the <strong>materials<\/strong> used, plus a markup for the contractor\u2019s profit.\u00a0This allows <strong>contractors<\/strong> to avoid the risk of underestimating project costs upfront for easier invoicing.<\/p>\n<p>However, this method requires <a href=\"https:\/\/www.foundationsoft.com\/learn\/how-digital-timecards-improve-the-payroll-process\/\">accurate time tracking<\/a> by the contractor.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Cost-Plus_Billing\"><\/span>Cost-Plus Billing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This method allows the contractor to get reimbursed for all project expenses such as:<\/p>\n<ul>\n<li><strong>Materials<\/strong>,<\/li>\n<li><strong>Labor<\/strong><\/li>\n<li><strong>Equipment<\/strong><\/li>\n<li><strong>Subcontractors fees<\/strong><\/li>\n<li>A <strong>predetermined percentage fee<\/strong> for their profit<\/li>\n<\/ul>\n<p>This allows the contractor a reduced risk for cost overruns, more clear details about the costs of materials and increased flexibility for project changes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Unit_Price_Billing\"><\/span>Unit Price Billing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>With this method,\u00a0the\u00a0project is broken down into measurable units and the client pays a pre-determined price\u00a0per unit that includes labor, materials and profit for the contractor.<\/p>\n<p>This gives <strong>contractors<\/strong> the flexibility to adjust for project scope changes, which is good for material-dependent projects. However, this requires meticulous record-keeping to <strong>track<\/strong> <strong>completed units<\/strong>, and contractors need to factor in all costs and profit margin when setting the price per unit.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"AIA_Progress_Billing\"><\/span>AIA Progress Billing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">The American Institute of Architects (AIA) billing method requires the contractor to\u00a0<strong>receive<\/strong>\u00a0<strong>payments<\/strong>\u00a0throughout the project based on project\u00a0<strong>milestones<\/strong> or percentage of completion rather than waiting for one lump sum at the end.<\/span><\/p>\n<p>This method guarantees a steady\u00a0<a href=\"https:\/\/www.foundationsoft.com\/learn\/strategies-for-monitoring-cash-flow\/\"><strong>cash flow<\/strong><\/a>\u00a0throughout the project, which by proxy means better financial management, but requires well-defined <strong>milestones<\/strong>.<\/p>\n<p>The\u00a0best type of billing option for a construction project\u00a0depends on the specific project details and the level of certainty in the project scope. With each of these billing methods comes required reports that vary in detail and <strong>format<\/strong> based on the chosen method.<\/p>\n<p>These reports ensure proper documentation and progress tracking,<strong>\u00a0<\/strong>which contribute to securing timely <strong>payments<\/strong> for <strong>contractors<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_are_Reports_Used_for_Each_Construction_Billing_Method\"><\/span>How are Reports Used for Each Construction Billing Method?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>By knowing the specific reporting information required for each billing method, you can\u00a0ensure the reports are accurate and reflect the project\u2019s true cost.<\/p>\n<p>This <strong>clarity<\/strong> can help strengthen the contractor\u2019s position when sending out <strong>invoices<\/strong> to prevent late <strong>payments<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Fixed-Price_Reports\"><\/span>Fixed-Price Reports<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/www.foundationsoft.com\/learn\/construction-accounting-101\/\">Fixed price reports<\/a>\u00a0are not as common since the total cost is already established.<\/p>\n<p>However, when they are used, they typically focus on:<\/p>\n<ul>\n<li><strong>Change Orders<\/strong>:\u00a0Any changes to the project scope that occur after the initial agreement are documented through change orders.\n<ul>\n<li>The report would detail the specific changes requested by the client, the impact on the project and the resulting cost adjustment to the overall project price.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Cost Variances<\/strong>:<strong>\u00a0<\/strong>While not always included, some might show variances between estimated and actual costs for specific project components providing insight into project efficiency.<\/li>\n<li><strong>Focus on Completion<\/strong>:\u00a0Reports are used upon project completion to demonstrate successful delivery within the agreed-upon budget serving as a record for both parties.<\/li>\n<\/ul>\n<p>With fixed-price billing reports, it\u2019s important to remember that accurate cost estimates are crucial for success.<\/p>\n<p>The reports also may not be as detailed since the focus is on adhering to the pre-agreed price, not tracking ongoing costs.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Time_Material_Reports\"><\/span>Time &amp; Material Reports<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/www.foundationsoft.com\/software\/time-material-billing\/\">Time and Material (T&amp;M) billing reports<\/a>\u00a0are essential documents for <strong>construction projects<\/strong> that use this billing method.<\/p>\n<p>T&amp;M reports <strong>track<\/strong> actual labor hours and <strong>materials<\/strong> used throughout the project and typically include:<\/p>\n<ul>\n<li><strong>Project Detail<\/strong>s:\u00a0Identifies the project name, client information and any other contract details relevant to T&amp;M billing like agreed-upon hourly <strong>labor<\/strong> <strong>rates<\/strong> and material markup percentages.<\/li>\n<li><strong>Labor Costs<\/strong>:\u00a0This details the total <strong>labor<\/strong> <strong>hours<\/strong> worked on the project during the billing period broken down by role or specific project tasks. The report will also show the corresponding cost based on the pre-agreed hourly rates.<\/li>\n<li><strong>Material Costs<\/strong>:\u00a0This section will detail all <strong>materials<\/strong> used during the billing period. It should include:<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>A clear description of each material<\/li>\n<li>The quantity of each material used<\/li>\n<li>The unit cost of each material<\/li>\n<li>The total cost of each material<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li><strong>Markup<\/strong>:\u00a0The contractor\u2019s pre-agreed markup profit percentage is applied to the total labor and material costs.<\/li>\n<li><strong>Total Project Cost<\/strong>: Calculates the total project cost for the billing period by summing the construction labor costs, material costs and markup.<\/li>\n<\/ul>\n<p>In addition to these details, some T&amp;M billing reports may also include:<\/p>\n<ol>\n<li><strong>Year-to-Date (YTD) Totals<\/strong>:\u00a0This provides a cumulative view of labor, material and total project costs for the entire year so far.<\/li>\n<li><strong>Project Progress<\/strong>:\u00a0A brief description of the work completed during the billing period to see how the budget is being used.<\/li>\n<li><strong>Change Orders<\/strong>:\u00a0If any changes to the project scope occur, the change orders\u2019 impact on labor or material needs are included.<\/li>\n<\/ol>\n<p>T&amp;M billing reports also ensure\u00a0<em>the contractor is billing for the exact amount of labor and <strong>materials<\/strong> used, reducing possible discrepancies<\/em>. By tracking costs throughout the project, <strong>contractors<\/strong> can use these reports to request timely payments based on work completed.<\/p>\n<p>Additionally, T&amp;M reports can reveal areas where labor or material usage might be exceeding expectations, allowing for adjustments and improved project management.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Cost-Plus_Reports\"><\/span>Cost-Plus Reports<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Cost-plus billing reports are key documents that typically include:<\/p>\n<ul>\n<li><strong>Project Details<\/strong>:\u00a0Identifies the project name, client information and the contract details relevant to cost-plus billing.<\/li>\n<li><strong>Expense Breakdown<\/strong>:\u00a0This is the core section and details all project expenses incurred during the billing period categorized to include:\n<ul>\n<li><strong>Total Labor Costs<\/strong>:\u00a0Total <strong>labor<\/strong> <strong>costs<\/strong> for workers on the project, potentially broken down by role.<\/li>\n<li><strong>Material Costs<\/strong>:\u00a0A detailed list of all materials used, including descriptions, quantities, <strong>unit costs<\/strong> and total costs for each material.<\/li>\n<li><strong>Equipment Cost<\/strong>s:\u00a0Any costs associated with renting or using equipment for the project.<\/li>\n<li><strong>Subcontractor Costs<\/strong>:\u00a0Total cost of any subcontractor work performed during the billing period.<\/li>\n<li><strong>Other Direct Costs<\/strong>:\u00a0Any additional <strong>project-related expenses.<\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>Total Project Costs<\/strong>:\u00a0Calculates the total project cost for the billing period by summing up all the listed expenses.<\/li>\n<li><strong>Contractor Fee<\/strong>:\u00a0Includes the contractor\u2019s fee calculated by applying the pre-agreed <strong>markup percentage<\/strong> to the total project cost.<\/li>\n<\/ul>\n<p>In addition, some cost-plus billing reports may also include:<\/p>\n<ol>\n<li><strong>Year-to-Date (YTD) Totals<\/strong>:\u00a0This provides a cumulative view of all project expenses and the contractor\u2019s fee for the entire year.<\/li>\n<li><strong>Project Progress<\/strong>:\u00a0A brief description of the work completed during the billing period, which can be helpful for the client to understand how their budget is being used.<\/li>\n<li><strong>Variance Analysis<\/strong>:\u00a0This section might compare actual project costs to budgeted costs for specific expense categories to identify where spending might be exceeding expectations.<\/li>\n<li><strong>Guaranteed Maximum Price (GMP) Status<\/strong>:\u00a0If the contract includes a GMP clause, the report might show the remaining budget available and any potential for cost overruns.<\/li>\n<\/ol>\n<p>These reports offer detailed breakdowns of all project expenses for visibility into how project funds are being used. This ensures the contractor is reimbursed for all legitimate project expenses.<\/p>\n<p><strong>Cost-plus reports<\/strong> can also reveal areas where expenses might be exceeding expectations, allowing for adjustments and improved cost control.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Unit_Price\"><\/span>Unit Price<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/www.foundationsoft.com\/software\/unit-price-billing\/\">Unit price billing reports<\/a>\u00a0will summarize costs and progress in <strong>construction projects<\/strong> and typically include:<\/p>\n<ul>\n<li><strong>Project Breakdown<\/strong>:\u00a0Outlines how the project has been broken down into measurable units, like:\n<ul>\n<li>Square footage of flooring installed<\/li>\n<li>Number of windows replaced<\/li>\n<li>Cubic yards of concrete poured<\/li>\n<li>Linear feet of piping installed<\/li>\n<\/ul>\n<\/li>\n<li><strong>Unit Prices<\/strong>:\u00a0This shows the pre-determined price per unit for each type of work. This price should factor in <strong>labor<\/strong>, <strong>materials<\/strong>, equipment and the contractor\u2019s profit margin.<\/li>\n<li><strong>Completed Units<\/strong>:\u00a0The number of units completed during the billing period is crucial for calculating the total amount earned by the contractor.<\/li>\n<li><strong>Cost Summary<\/strong>:<strong>\u00a0<\/strong>The total cost incurred for each type of work based on the completed units and their corresponding unit prices for comparison between planned costs and actual costs.<\/li>\n<li><strong>Percentage Complete<\/strong>:<strong>\u00a0<\/strong>A calculation of the overall project completion percentage based on the units.<\/li>\n<\/ul>\n<p>These reports\u00a0provide a clear picture of how much each phase of the project costs and how much progress has been made. This allows for timely adjustments to the schedule or <a href=\"https:\/\/www.foundationsoft.com\/learn\/budgeting-better-with-construction-accounting-software\/\">budget<\/a> if needed.<\/p>\n<p>These in-depth records of completed units and corresponding costs can also be used to justify progress <strong>payments<\/strong> to improve project cash flow.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"AIA_Progress\"><\/span>AIA Progress<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>AIA progress billing reports serve a crucial role in ensuring clear communication, accurate billing and timely <strong>payments<\/strong> between <strong>contractors<\/strong> and <strong>clients<\/strong> and typically include:<\/p>\n<ul>\n<li><strong>Contract Summary<\/strong>:\u00a0A reminder of the total project cost established in the contract.<\/li>\n<li><strong>Retainage<\/strong>:\u00a0If applicable, a percentage of the payment held by the client until project completion.<\/li>\n<li><strong>Previous Billings<\/strong>:\u00a0A summary of all <strong>payments<\/strong> made to the contractor to date.<\/li>\n<li><strong>Current Billing<\/strong>:\u00a0A detailed breakdown of the work completed during the current billing period and its corresponding cost, including:\n<ul>\n<li>Description of work completed<\/li>\n<li><strong>Labor<\/strong> hours used<\/li>\n<li>Material costs incurred<\/li>\n<li>Equipment usage details<\/li>\n<\/ul>\n<\/li>\n<li><strong>Supporting Documentation<\/strong>:\u00a0Any relevant documents like change orders, material receipts or <strong>labor<\/strong> time sheets to support the billing claims.<\/li>\n<\/ul>\n<p>The AIA progress <strong>format<\/strong> ensures <strong>clarity<\/strong> and consistency in billing communication, which can help minimize errors. This allows both <strong>contractors<\/strong> and <strong>clients<\/strong> to have clear visibility into project costs and progress through detailed breakdowns in the reports.<\/p>\n<p>AIA progress billing forms are designed for ease of use, simplifying the billing process for <strong>contractors<\/strong>. AIA reports can help <strong>contractors<\/strong> <strong>receive<\/strong> timely progress <strong>payments<\/strong> by clearly documenting completed work, improving <strong>cash flow<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Can_Construction_Billing_Reports_Remedy_Payment_Problems_for_Contractors\"><\/span>How Can Construction Billing Reports Remedy Payment Problems for <strong>Contractors<\/strong>?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/www.foundationsoft.com\/learn\/construction-cash-flow-reporting\/\">Construction billing reports<\/a>\u00a0can be a powerful tool to help remedy payment problems for <strong>contractors<\/strong> as using billing reports can:<\/p>\n<ul>\n<li><strong>Strengthen Negotiations<\/strong>:\u00a0Construction billing reports provide clear, documented evidence of costs incurred throughout the entire project. This data strengthens the contractor\u2019s position when negotiating with <strong>clients<\/strong> or resolving disputes about payment amounts.<\/li>\n<li><strong>Identify Billing Issues<\/strong>:\u00a0Detailed reports can help <strong>contractors<\/strong> identify potential billing errors early on so they can address discrepancies with the client before they snowball into larger problems.<\/li>\n<li><strong>Improve Communication<\/strong>:\u00a0Sharing construction billing reports with <strong>clients<\/strong> fosters transparency and clarifies project costs, which can help prevent misunderstandings and payment delays.<\/li>\n<li><strong>Support Timely<\/strong> <strong>Invoices<\/strong>:\u00a0<a href=\"https:\/\/www.foundationsoft.com\/learn\/how-to-select-construction-accounting-software-for-your-company\/\">Construction accounting <strong>software<\/strong><\/a> often automates invoice generation based on pre-set payment <strong>schedules<\/strong> and project data. This ensures <strong>contractors<\/strong> submit <strong>invoices<\/strong> promptly, keeping them on <strong>track<\/strong> for receiving <strong>payments<\/strong> according to the agreed-upon terms.<\/li>\n<\/ul>\n<p>However, it\u2019s important to remember that\u00a0construction billing reports are just one piece of the puzzle. For them to be effective, <strong>contractors<\/strong> need to ensure:<\/p>\n<ol>\n<li>They are consistently and accurately recording all project costs.<\/li>\n<li>Choose the correct billing method for the project to explain cost data and address the questions or concerns of the client.<\/li>\n<li>Clearly define <strong>contracts<\/strong> outlining payment terms and <strong>dispute<\/strong> resolution procedures.<\/li>\n<\/ol>\n<p>This will help maintain open communication with the client, keep <strong>payments<\/strong> timely and ultimately lead to better\u00a0financial health.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Does_Construction_Accounting_Software_Simplify_Construction_Billing_Reports\"><\/span>How Does Construction Accounting <strong>Software<\/strong> Simplify Construction Billing Reports?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong><a href=\"https:\/\/www.foundationsoft.com\/learn\/the-value-of-investing-in-construction-accounting-software\/\">Construction accounting software\u00a0<\/a><\/strong>streamlines the process of generating billing reports.\u00a0This makes the construction accounting process significantly easier and less time-consuming compared to manual methods or traditional spreadsheet <strong>software<\/strong>.<\/p>\n<ul>\n<li><strong>Centralized Data<\/strong>:\u00a0<a href=\"https:\/\/www.foundationsoft.com\/learn\/the-value-of-investing-in-construction-accounting-software\/\">Construction accounting <strong>software<\/strong><\/a>\u00a0keeps all your project details, customer information and billing data in one place eliminating the need to gather information from multiple sources.<\/li>\n<li><strong>Automated Calculations<\/strong>: An accounting solution\u00a0can automatically calculate\u00a0detailed invoices, taxes and other charges reducing the risk of errors and saving you significant time.<\/li>\n<li><strong>Filtering<\/strong>:\u00a0The software allows you to easily filter and sort your data based on specific criteria such as project, customer, date, amount or other relevant fields to generate reports that focus on specific aspects of your billing.<\/li>\n<li><strong>Report Customization<\/strong>:\u00a0Many<a href=\"https:\/\/www.foundationsoft.com\/learn\/essential-features-in-construction-accounting-software-infographic\/\"> construction accounting <strong>software<\/strong><\/a> programs allow you to customize reports with your company logos, branding and specific data fields you want to include.<\/li>\n<li><strong>Streamlined Workflow<\/strong>:\u00a0Construction accounting software can automate repetitive tasks associated with billing, such as sending <strong>invoices<\/strong> and tracking payments allowing you to save time.<\/li>\n<\/ul>\n<a target=\"_blank\" href=\"\/construction-accounting-software-ebook\/\" class=\"blog-cta-image\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2024\/05\/2024-05-FSL-blog-post-ad-5-ways-ebook.png\" alt=\"eBook Download\" title=\"eBook Download\"><\/a>\n<h2><span class=\"ez-toc-section\" id=\"Improve_Your_Construction_Project_Billing_Reporting_with_FOUNDATION%C2%AE\"><\/span><strong>Improve Your Construction Project Billing Reporting with FOUNDATION\u00ae <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Clear, accurate reports can transform your billing process into a well-oiled machine. Knowing the different reporting requirements for each billing method and what these reports entail allows you to accurately <strong>track<\/strong> finances, maintain an efficient workflow and monitor your project\u2019s progress.<\/p>\n<p>Maintaining <strong>accuracy<\/strong> in your construction billing reports allows you to stay up to date on project trends so you can notify the client when any changes occur.<\/p>\n<p>This can help ensure timely payments by fostering client relationships built on transparency and clear communication.<\/p>\n<p>Simplify construction billing reporting with a leading construction accounting <strong>software <\/strong>\u2014like\u00a0<a href=\"https:\/\/www.foundationsoft.com\/\">FOUNDATION<\/a>.<\/p>\n<p>We offer formatted billing estimates and contract <strong>invoices<\/strong> for AIA, unit price, time &amp; material billing and so much more. With direct integration into your job costing structure, you can guarantee a streamlined workflow and get paid on time.<\/p>\n<p>To learn more about how FOUNDATION can help you leverage construction billing reports to improve project and cash flow management, <a href=\"https:\/\/www.foundationsoft.com\/#schedule-a-live-demo\">talk to an expert today<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Construction billing reports hold valuable insights into your cash flow and monitoring cash flow is how you guarantee a timely payment. Recently, slow payments have become a common pain point in the construction industry. According to\u00a0Levelset, 95% of construction companies\u00a0note that they experience stress over slow payments.\u00a0However, many do not take significant action to remedy payment problems. The solution to &#8230; <\/p>\n<div><a href=\"https:\/\/www.foundationsoft.com\/learn\/fsl-understanding-construction-billing-reports-blog\/\" class=\"more-link\">Read More<\/a><\/div>\n","protected":false},"author":60,"featured_media":21982,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_searchwp_excluded":"","inline_featured_image":false,"footnotes":""},"categories":[9,41,7],"tags":[],"class_list":["post-21973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-blog-category","category-recommended-reading"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Use Each Construction Billing Report<\/title>\n<meta name=\"description\" content=\"Discover how to leverage construction billing reports for timely payments. 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