Construction ERP for United States

Project accounting for US construction follows percentage-of-completion or completed contract methods under ASC 606 revenue recognition standards. Contractors must track costs and revenue at the project level, with work-in-progress schedules that show billings in excess of costs (overbillings) and costs in excess of billings (underbillings). Retainage, typically 5-10% of each progress billing, must be tracked separately and recognized when released. Change order management requires documentation of scope changes, pricing adjustments, and owner approvals before additional costs can be billed.

Subcontractor management involves prequalification, insurance certificate tracking with automatic expiration alerts, lien waiver collection, and 1099 reporting at year end. Compliance with OSHA construction standards requires incident reporting, safety training documentation, and maintenance of injury and illness logs on OSHA Form 300. Minority and women-owned business enterprise (MBE/WBE) participation goals on public projects require tracking subcontractor utilization against contractual commitments.

Yukti provides construction companies with job cost accounting that supports both percentage-of-completion and completed contract methods under ASC 606. The billing module handles AIA-format progress billing with retainage tracking, change order documentation, and stored materials billing. Subcontractor management includes prequalification workflows, insurance certificate tracking with COI expiration alerts, and conditional and unconditional lien waiver generation. The estimating module integrates with RS Means cost data for accurate takeoff pricing. Equipment management tracks utilization rates, maintenance costs, and internal rental rates applied to project costs.