A Construction Owner’s Guide to Certified Payroll
Learn how to confidently and profitably bid on government projects with this knowledge of Certified Payroll!
For construction owners who dream of building a bigger business with huge government projects! You may have heard how difficult it can be to bid on and get paid by the government. You may have even tried before and struggled. This is not unusual! It’s a big undertaking and it can feel overwhelming. You may think it’s not worth your time and effort. It’s not fair that it’s so difficult and they give you so little information about what they require you to do.
Challenges
Challenge One
Government agencies have specific requirements, one of which is the submission of special reports called Certified Payroll Reports. To do it, many companies have to manually extract the data from their overall payroll reports and allocate it to each job, based on hours worked and pay rates. It’s a complicated calculation that is prone to errors!
Challenge Two
Government agencies often provide base rate wages online, which contractors must locate and ensure are accurate before submitting their Certified Payroll Report for payment. They secure the invoicing bid based on the regular rate of pay for their employees, unaware that the hourly rate for government jobs can be considerably higher, sometimes even double, their standard rate.
Challenge Three
Accuracy in tracking employee hours and projects is crucial for providing precise information to government agencies on Certified Payroll Reports so you can get paid more quickly. It’s essential to have a detailed record of the hours worked by employees on a daily basis and at each specific job.
Read on as we address your specific problems head-on and guide you toward effective solutions. By gaining a clear understanding of the complexities involved, and implementing the recommended strategies, you can overcome these challenges with confidence and maximize your success in the world of government contracting.