Running a construction business means juggling crews, materials, deadlines—and payments. Understanding what costs are capitalized during construction, GAAP accounting rules for capitalizing labor, and capital projects accounting can feel overwhelming.
Truss Payments is a payment platform built for contractors. It tracks labor, materials, and subcontractor payments automatically, giving you real-time visibility into accounting for building construction costs so you can focus on building, not chasing dollars.
Key Takeaways
- Know what costs can be capitalized on a project to keep your accounting accurate.
- Simplify capital projects accounting across multiple jobs.
- Track labor, materials, and payments seamlessly with Truss Payments.
- Reduce errors, save time, and gain confidence in your project finances.
Which Costs Should Be Capitalized?
Materials, labor, subcontractors—what counts as a capital cost versus an expense? Misclassifying something can cause headaches with reporting and taxes.
Truss links payments directly to projects. Labor, materials, and subcontractor payments are tracked automatically, giving a clear view of your construction financials and reducing mistakes.
Making Capital Projects Accounting Simpler
Managing multiple projects is like spinning plates. Trying to remember which costs belong where can lead to errors.
With Truss, payments are tied to each project. You can see what’s been paid, what’s pending, and how it affects your capital projects accounting. This keeps your books organized and accurate.
Why Contractors Actually Love Using Truss
Late payments can ruin a week. Chasing clients for overdue invoices is worse. Truss automates payments, provides visibility, and makes it easier to follow GAAP accounting rules for capitalizing labor.
It’s not just a tool; it helps contractors save time, avoid mistakes, and know exactly where every dollar is.
FAQ: Payments, Labor, and Capital Costs
Q: What costs are capitalized during construction?
A: Direct project costs that add lasting value, like labor, materials, and subcontractor payments. Truss keeps this linked to your projects.
Q: What costs can be capitalized on a project?
A: Anything contributing to the long-term value of your build. Truss ensures payments are tracked accurately.
Q: How do GAAP rules affect labor costs?
A: They determine when labor is a capital cost versus an expense. Truss integrates this into payment tracking.
Q: Can I track multiple projects at once?
A: Yes. Dashboards show labor, materials, and payments for all projects in one place.
Take Control of Your Construction Payments
Construction is stressful enough—your payments shouldn’t add more chaos. Truss Payments gives contractors clarity, control, and confidence over project finances. Track labor, materials, and payments accurately, and simplify your capital projects accounting.
Sign up for Truss for free today and see how a contractor-focused payment platform can improve your workflow.
Disclaimer: Truss provides tools to help contractors manage and streamline payments. However, Truss is not responsible for financial, legal, or employment decisions made by its users. Always consult with an accountant or legal professional for personalized advice.
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