Why construction businesses need industry expertise
Accurate, insightful financial reporting helps business owners make better decisions
Standard accounting services are much simpler because in most cases the business is a fixed environment. They have sales, cost of goods, expenses and from there they can easily calculate a breakeven point.
With construction accounting job costs may include packing and unpacking materials, traveling, warehousing, subcontracting labor and much more.
On top of the mobile (non-fixed) nature of construction work, sales can have multiple categories within it. Cost of goods includes direct and indirect costs, with a multitude of categories within each. An item that may be a straightforward expense for a regular business could qualify as ‘cost of goods sold’ in the context of construction work.
Calculating the breakeven point is much more complicated in construction because so much of the work is completely custom. Instead of a basic profit and loss report for a company, you need job costing and job profitability reports for each project.
We can help you with these vital day-to-day functions
- General Ledger & Company Set-up
- Financial Review & Reporting
- Use of the Check Register
- Accounts Receivable
- Accounts Payable
- Credit Card Management
- Payroll Processing & Quarterly Reporting
- Project Management
- Equipment Management
- Estimating
- Scheduling
- Service Receivables
- Inventory
- Year-End Reporting (W-2’s, 1099’s)
Put our 25 years of proven success to work for you
From teaching you how to read financial reports to helping you develop financial goals and a strategy to increase profitability, we are here to help with the full range of your construction business management needs.
Our clients have a wide range of construction accounting needs — some are starting new construction businesses, others just need training in accounting software, and some require a full-service bookkeeper. Whatever your needs, we can help.