Top 50 Fastest-Paying GCs

We analyzed our data to assemble a list of the top 50 fastest-paying GCs in commercial construction.

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Construction Accounting Glossary

Here's every accounting term subcontractors need to know.

A

Accounting Equation

Accounts Payable (A/P)

Accounts Receivable (A/R)

Accrual Accounting

Accrued Expenses

Accrued Revenue

ACH (Automated Clearing House)

Actual Cost

AIA Billing

AIA Document

Allowance

Applied Overhead

Architect

ASC 606

Assets

Audit

B

Back Charges

Backlog

Backup

Balance Sheet

Bid Prices

Billings in Excess of Costs

Bond

Bond Claim

Bottom-of-Chain, or Low-Tier

Breaking Ground

Budget Analysis

Business Interruption Insurance

C

Canned Reports

Capitalize

Cash Accounting

Cash Flow

Cash Flow Projection

Cash Flows Statement

Certified Payroll

Champion

Change Order

Chart of Accounts

Claim

Cloud-Based Software

Completed Contract

Conditional

Conditional Lien Waiver

Construction Accounting

Construction Loan

Contingency

Contract

Contractor

Cost Accounting

Cost Codes

Cost of Goods Sold (COGS)

Cost Overrun

Cost Plus Billing

Costs in Excess of Billings

Credit

Current Assets

Current Liabilities

Current Ratio

D

Davis-Bacon

Days Working Capital

Debit

Deduction

Depreciable Life

Depreciation

Direct Costs

Direct Labor

Double-Entry Accounting

Draw Request

E

Enterprise Resource Planning (ERP)

Equity

Equity Turnover Ratio

Escrow

Estimate

F

Factoring

Field

Final Lien Waiver

Financial Statements

Fixed Assets

Fixed Costs

Float the Project

G

G702

G703

General and Administrative Costs (G&A)

General Contractor (GC)

General Ledger (G/L)

General Liability Insurance

Generally Accepted Accounting Principles (GAAP)

Guaranteed Maximum Price (GMP)

I

Income Statement

Indirect Costs

Insurance

J

Job Costing

Job Cost Structure

Joint Check Agreement

L

Labor Burden

Lender

Leverage

Liabilities

Lien

Lien Release

Lien Waiver

Liquidated Damages

Long-Term Assets (or Noncurrent Assets)

Long-Term Debt

Long-Term Liabilities (or Noncurrent Liabilities)

Lump Sum Billing

M

Markup

Matching Principle

Material Overhead

Mechanic’s Lien

Milestone

Mobilization

Mortgage

N

Net D

Net Income

Notice of Intent to Lien (NOI)

What is a Notice of Commencement (NOC)?

O

Office

Outside Financing

Overbillings

Overhead

Overhead Allocation

Owner

P

Partial Lien Waiver

Pay-if-Paid Clause

Payment Applications (Pay Apps)

Payment Bond

Payroll

Pay-When-Paid Clause

Percentage-of-Completion

Percent Complete Method

Performance Bond

Performance Obligation

Pre-Lien Notice

Preliminary Notices

Prevailing Wage

Prime Contractor

Profit Fade

Progress Billing

Project Budget

Project Closeout

Project Cost Report

Project Manager

Property Owner

Q

Quantity Survey

Quick Ratio

R

Receivables Turnover Ratio

Release

Request for Change Order (RFC)

Request for Information (RFI)

Request for Proposal (RFP)

Required Document

Retainage

Revenue Recognition

Risk-Shifting Mechanism

S

Schedule of Values (SOV)

Section 179

Self-Perform

Single-Entry Accounting

Software as a Service (SaaS)

Subcontractor Default

Subcontractor (SC)

Submittal

Surety

What is a sworn statement?

T

Time-and-Material billing

Time-and-Materials Contract

Top-of-Chain, or High-Tier

Trade Contractor

Transmittal

U

Unconditional Lien Waiver

Underbillings

Uninstalled Materials

Unit Price Billing

Unit Price Contract

V

Variance Analysis

Voluntary Document

W

WH-347

Workforce Management

Working Capital

Working Capital Turnover Ratio

Work in Progress (WIP)

Y

Year-to-Date (YTD)

Z

Zero-Balance Account