Money: Job Cost, Billing, AP/AR

Pass is 80%. This is open-book — use the academy, not hope.

1. Job cost is late when:

You post costs weekly against the estimate.You first look at cost after the job is closed.You code receipts to the job, not 'misc.'You flag overtime as it happens.

2. A client short-pays, omitting an extra. Admin should:

Write it off to be nice.Reconcile to the SOV, send a polite variance letter with the executed change order attached, and start the follow-up cadence.Show up angry at the plant.Add it secretly to the next job.

3. Why set up ACH and wire on top of checks?

Checks always bounce.Electronic payment shortens DSO — ACH for standard AP, wire for large deposits and tight material buys. A mailed check is a week of float we do not need to give away.Banks require it for liens.OSHA requires electronic pay.

4. A vendor invoice with no PO and no job number should be:

Paid immediately to keep terms.Held, matched, and coded — or returned. Uncoded spend is stolen margin.Paid from petty cash.Given to the crew lead's personal card.

5. Retainage is:

A tip.A contractually held portion of payment, often released at substantial / final / closeout. Track it as a receivable, not a gift.Sales tax.The GC's overhead.

6. Where does a Maverick invoice live, and what are the terms?

Zoho Books, Net 30.Branded DOCX clone + SOV-Billing-Tracker. Due Upon Completion. Lump sum. Never Books.QuickBooks Online with line-item labor.A text to the GC superintendent.

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