Hi. I just landed a job for a construction company and am not familiar with how some things go...
We are subcontracted to do concrete work. We submit monthly to the contractor progress invoices for us and interim lien waivers for our suppliers. The contractor then sends us a separate payment check for each.
Example:
Our Invoice = $50,000.00 Supplier 1's Bill = $15,000.00 Supplier 2's Bill = $25,000.00
We get [3] checks:
One made out to Supplier 1 for $15,000.00 One made out to Supplier 2 for $25,000.00 and one made out to us for $10,000.00
The contractor shows our invoice paid in full. How do I book this? And, does anyone know of a free training program for job costing and the like?
Thank you so very much in advance to anyone that can help me.
Dawn