A contractor may not invoice for all of the work they have performed, resulting in a low revenue figure on the company's financial statements. Costs in excess of billings represent revenue earned from work performed that has not been invoiced yet and are recorded as an asset until the contractor can record that revenue.
Complete breakdown of every Intuit Enterprise Suite Spring 2026 feature for construction companies. Certified payroll (WH-347), refreshed WIP reports, flexible job costing, Workforce Elite HCM, transaction-level eliminations, AI cost insights for budgets, and what RedHammer wants next from Intuit.
Read MoreA 2026 buyer's guide to the best construction accounting software for contractors. Compare QuickBooks Online, Intuit Enterprise Suite, Sage Intacct Construction, Acumatica, Foundation, NetSuite, Knowify, Procore, and more from RedHammer, Intuit's IES implementation partner.
Read MoreIES Winter 2026 delivers construction beta with project phases, cost groups, AIA invoicing, and negative change orders, plus parallel approvals, AI agents, BI tools, and MAC migration support. RedHammer breaks down every feature with honest takes on what still needs work.
Read MoreIntuit launches its first industry-specific ERP for construction. The IES Construction Edition covers the full project lifecycle—from proposals to AIA invoicing—with AI-powered tools and multi-entity support, putting traditional construction platforms on notice.
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