Bookkeeping Services for the Construction Industry
The financial needs of your construction company are as unique as the projects you work on. You need a bookkeeper that understands your business and can help you accurately track, record and classify income, materials, sub-contractors, vendors, depreciating machinery and all of the other expenditures associated with your growing company.
The Bookkeeper partners with construction companies to make sure that the smallest details are recorded accurately and presented properly to your accountant.
Financial solutions trusted by businesses across all industries.
What Makes Construction Bookkeeping Unique
Bookkeeping for construction companies requires attention to the finest of details. All construction companies must navigate and accurately record:
- Income per project/SOW, sometimes with a changing scope and completion date
- Proficiently collect all account receivables based on the scope for each project
- Recording depreciating equipment and resources across multiple job sites
- Accurately recording and classifying account payables to sub-contractors, vendors & materials
- Precisely recording and classifying expenditures such as payroll for W2 employees and 1099’s
- Accurately recording progressive billing (revenue), uncollected AR, where portions of the project are paid as work is completed
There are tons of minute details not included on this brief list that also require an incredible eye for detail. Additionally, construction companies face industry and tax regulations that are increasingly specific. Certain tax laws, such as IR35, apply to contractors and self-employed professionals. You’ll need a bookkeeping service that understands your industry and the unique challenges you face. That’s why The Bookkeeper is here to partner with you.
Bookkeeping that Fits Your Industry
According to the latest data, nearly two out of three (65%) business owners prefer to work with an accountant with specialized training. The construction industry is no different, which is why The Bookkeeper offers industry-specific services and guidance that can help you:
Ongoing bookkeeping services
Accurately record AR & AP per job
Record and classify W2’s and sub-contractors
Work with Your Accountant
Comply with changing industry regulations
