Our Construction Accounting Services offer specialized financial support essential for contractors and real estate developers managing complex projects across the entire project lifecycle. The foundation of this service is meticulous Job Cost Accounting, which involves detailed tracking and allocation of all project-level costs, including labor, materials, subcontractors, equipment, and overhead. This precise, systematic tracking is vital for maintaining financial control and accurate cost-to-complete analysis.
A critical component of our support is professional management of project income, including accurate Work-in-Progress (WIP) Reporting and compliant Revenue Recognition & Percentage-of-Completion Accounting. We expertly manage all aspects of Contract Billing & Progress Invoicing, handling complex AIA billing formats, tracking the schedule of values, and professional retention management to ensure timely and accurate cash flow.
We maintain financial integrity by overseeing Subcontractor Accounting & Retainage Tracking and managing all aspects of Change Order Accounting, recording their financial impact on profitability. This comprehensive service also includes strategic support in Project Cash Flow Management, Financial Reporting & Job Profitability Analysis, and dedicated Compliance & Audit Support to help you achieve full fiscal health and regulatory readiness.
Detailed tracking of project-level costs including labor, materials, subcontractors, equipment, and overhead allocations.
Preparation and maintenance of WIP schedules with percentage-of-completion tracking and cost-to-complete analysis.
Preparation of progress billings, AIA billing formats, schedule of values tracking, and retention management.
Allocation of expenses to specific jobs and cost codes with ongoing comparison to project budgets.
Management of subcontractor invoices, lien waivers, compliance documentation, and retainage receivable and payable tracking.
Application of appropriate revenue recognition methods in accordance with accounting standards for construction contracts.
Recording and tracking of approved and pending change orders and their financial impact on project profitability.
Allocation of direct labor costs, burden, and payroll taxes to individual projects and cost centers.
Monitoring of construction equipment usage, depreciation, and allocation of equipment costs to projects.
Tracking project-level cash inflows and outflows to support cash flow forecasting and funding requirements.
Reconciliation of construction loans, lines of credit, and project financing arrangements.
Preparation of project-level financial statements, profitability reports, and margin analysis by job.
Development of construction budgets, cost projections, and updated forecasts based on project progress.
Preparation of documentation for lender reviews, bonding requirements, and audit support.
Implementation and configuration of job costing structures, cost codes, and reporting frameworks within accounting systems.
