What category would I record a contractors bond payment to?

create a current asset account named for the contractor

So a Bond payment would be considered an asset not an expense?

Hey there, @dbias. 

Thanks for reaching back out to the Community. I'm unable to advise you on which route to take, but you can consult with your accountant to be sure. They'll be able to give you the best explanation and accounting advice for your business. If you don't have an accountant, here's a link that will help you find one in your area: Find an accountant. 

If you have any other concerns, feel free to ask. I'm always here to lend a helping hand. Take care!