One of the topics that construction companies interested in is subcontractor's management. There are 3 interrelated accounts for subcontractors in construction companies;
- current account of the contractor
- business guaranty account
- advance payments account.
The current account is recorded under current liabilities and under the contractors the name of contractor is registered and the contractor's business guaranty account registered under the current liabilities under each account, the name of the contractor's business guaranty is added in its name and advanced payment account for contractors is recorded under current assets and a payment account is included in the name of each contractor.
Contractor Data Recording Screen