WIP, retention, markup vs margin, BAS, SWMS — the words that run your business, explained in plain English. No jargon, no fluff.
An 11-digit number that identifies your business to the government and on invoices.
Money owed to you by customers for work already invoiced but not yet paid.
A record of every asset you install or maintain, with its location, history and next service date.
The minimum legal pay rate for an employee, set by the relevant modern award.
A fixed charge for attending a job, separate from the labour and materials.
The timing of money coming in versus going out of your business.
A document proving an insurance policy is current and active.
The hourly rate you bill customers for labour, covering wages, overheads and profit.
The point where work is finished enough for the client to use it, bar minor defects.
Servicing equipment on a schedule to prevent breakdowns, rather than fixing after failure.
An allowance in a contract for an item not yet selected, like a tap or fitting.
An invoice for a stage of a larger job, billed as the work progresses.
An allowance for work that can’t be fully priced when the contract is signed.
Cover for claims if your work injures someone or damages property.
A document you issue to a supplier or subbie to order goods or services at an agreed price.
A clear description of exactly what is — and isn’t — included in a job.
A separate business you engage to carry out part of a job you’re responsible for.
The compulsory super employers must pay on top of an employee’s wages.
A document setting out how high-risk construction work will be done safely.
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