Contractor Industry Accounting Services
Running a construction company has its own sets of challenges, finance doesn’t have to be one of them. Our founder has 13 years of dealing with contractor finances directly and the day to day challenges that may arise. Many contractors think they are making money but at the end of the year they find they have nothing left and sometimes owe more than they made at the end of the day.
Estimating
Most contractors estimate their projects by charging for time and materials, and then adding a markup. This system doesn’t always net a contractor a profit. With our knowledge in construction we can help you design an estimating system that will actually help you make a real profit, but it all starts with getting organized on your accounting.
Progress Payments
When you have multiple jobs in progress at once, invoicing can start to feel overwhelming, increasing the chances that you don’t invoice for enough, or that a payments slips through the cracks. Maybe your client is holding retention for 30 or 60 days. Are you certain you will remember to collect it later? We can make sure you don’t forget.
Job Costing
The only way you can know if a job is profitable is by job costing all of your cost of goods sold. But this isn’t the only benefit, it helps you to actually fine tune your estimating and more accurately bid jobs so that you don’t over bid or get caught off guard by unexpected costs.
Notices and Releases
20-Day preliminary notices assist contractors in protecting their rights to receive payment for their work. Without these notices all parties involved may not know you are on the job and that you have a right to get paid. While this is not necessary with all jobs, it is sometimes necessary to issue.
Many general contractors, homeowners and lenders want to know that work has been paid either partially or fully and that the amount owed isn’t going to suddenly change on them. This is why many will request one of several different types of lien releases. Sending in incorrect release without payment can result in waiving your rights to future payment.
By utilizing a full charge bookkeeper you can
- Work fewer hours
- Save the yourself the frustration
- Focus on expanding your business
- Pay your bills and employees on-time
- Always know where you stand financially
- and most importantly make more money
Research beyond the business plan
Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore
In your life, you may have many times facing financial issues. It’s good if you know how to handle it by yourself and have enough time to take care of it. In other cases, it’s time you get a financial consulting service. And the article below will show you those cases.
In your life, you may have many times facing financial issues. It’s good if you know how to handle it by yourself and have enough time to take care of it. In other cases, it’s time you get a financial consulting service. And the article below will show you those cases.
Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore