Foundation Software Aids California Contractors in Meeting New Compliance Regulations

Foundation Software, LLC, renowned for its leading construction accounting software FOUNDATION®, is providing essential support for California contractors facing the state's updated construction laws effective January 1, 2024. These laws introduce significant changes in payroll reporting, liability, delivery, contracts, licensing, and dispute resolution processes for contractors.

With the aim of helping California contractors navigate these complex regulations, FOUNDATION offers powerful recordkeeping capabilities. These include extended document retainage, heightened audit requirements, and expanded payroll recordkeeping. FOUNDATION's software is designed to streamline compliance, ensuring that critical project documents are easily trackable and storable for the required periods.

The software simplifies the audit process for contractors by providing comprehensive data trails and reports such as WIP/bonding reports, variance, percent complete, and production reporting. Additionally, FOUNDATION supports contractors in adhering to strict tax compliance needs, including certified payroll, union payroll, and multi-state payroll, with immediate report generation capabilities post each payroll cycle.

FOUNDATION's role in aiding California contractors to stay compliant with the new regulations underscores the software's robustness in handling complex construction-specific legislative requirements.