Construction Bookkeeping Services
Running a construction company is no small feat, especially when balancing project management, financial oversight, and business growth. In the construction industry, accurate financial data and streamlined processes are essential to maintaining cash flow, tracking job costs, and delivering profitable projects.
Let us handle the bookkeeping so you can focus on building trust with your clients and growing revenue for your family.
Addressing Key Challenges in Construction Accounting
Small business owners in the construction industry face unique financial challenges that require expert attention. Here are some common pain points I help resolve:
Job Costs and Accurate Project Cost Tracking: Ensuring every expense, from labor to materials, is accounted for to understand project profitability.
Project Management and Financial Integration: Aligning project budgets with financial data to provide a clear picture of progress and costs.
Timely Financial Reports: Providing real-time insights, including balance sheets and income statements, to support informed decision-making and lender requirements.
Cash Flow Management: Keeping accounts reconciled and payments on track to maintain healthy cash flow.
Sales Tax Compliance: Setting up systems for accurate sales tax tracking and filing across jurisdictions.
Vendor and Customer Workflow Optimization: Streamlining vendor bill payments, 1099 management, and customer invoicing processes.
Estimated Tax Payments: Helping business owners stay ahead of quarterly tax obligations.
CRM Integration: Recommending and integrating customer relationship management tools, such as Knowify, that work seamlessly with QuickBooks Online to deliver an efficient, tailored solution.
By addressing these challenges, I help construction businesses transform their financial management processes, providing clarity, efficiency, and confidence.
Comprehensive Bookkeeping Services for Construction Companies
I offer a range of bookkeeping services specifically designed for construction companies and trade professionals:
Monthly Bookkeeping: Ensuring consistent categorization, reconciliation, and preparation of financial reports like balance sheets and profit-and-loss statements.
Cleanup Bookkeeping: Organizing past financial records to bring your books up to date and tax-ready.
Accounts Payable (A/P) and Accounts Receivable (A/R): Streamlining vendor bill payments and customer invoicing workflows to improve cash flow and efficiency.
Job Costs and Financial Reporting: Breaking down project costs to highlight profitability and ensure proper allocation of expenses.
1099 Preparation and Vendor Management: Keeping your subcontractor relationships compliant and efficient.
Simple Payroll Setup: Setting up payroll systems to ensure timely and accurate payment for your team.
With my support, business owners can rely on accurate financial data and streamlined bookkeeping systems, helping them grow their businesses while focusing on their construction projects.
Empowering Construction Businesses with Knowify
For construction businesses, Knowify is an indispensable tool that integrates project management with financial data for better control over operations.
How Knowify Supports Construction Accounting:
Flexible Billing Options: Knowify accommodates Classic Fixed Price, AIA-Style Fixed Price, Cost-Plus, and Preventative Maintenance Service Jobs.
Seamless Project Management: Track budgets, job costs, and project progress while managing change orders with ease.
Real-Time Insights: Generate up-to-date reports like WIP to make informed decisions and maintain financial transparency.
Streamlined Team Management: Simplify scheduling and communication to enhance team efficiency.
Contractor Time Tracking with Geofencing: Keep track of all subcontractors and employees time using the easy to use time tracking feature.
Knowify ensures a seamless flow of data between project management and bookkeeping, eliminating duplicate work and improving accuracy.
Knowify is ideal for trade contractors and remodelers with teams of 2 or more in HVAC, electrical, plumbing, roofing, painting, demolition, and more. However, it may not suit businesses focused on short service calls or heavily subcontracted residential projects.
Your Partner in Construction Bookkeeping
With extensive experience in bookkeeping for construction businesses, I provide reliable accounting support that aligns with your goals. I collaborate closely with my clients and their tax preparers to ensure everyone is on the same page and focused on the success of your business.
Whether you’re a construction company looking to streamline your financial management or a small business owner aiming to improve cash flow, my services are designed to give you peace of mind. Let me handle the bookkeeping, so you can focus on delivering exceptional results for your construction projects.
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