At Balance Sheet Pro, we specialize in delivering tailored accounting and financial solutions for the construction industry.
General Contractors
As a general contractor, your projects are the backbone of the construction industry. Managing multiple job sites, overseeing subcontractors, and balancing client expectations often leave little time to focus on your financials. That’s where we come in. At Balance Sheet Pro, we provide tailored accounting solutions to help you track project costs, streamline cash flow, and simplify budgeting. With our support, you’ll have the financial clarity to deliver high-quality projects on time and within budget—allowing you to grow your business with confidence.
Home Builders
Building homes is about creating dreams and foundations for families, but navigating the complexities of financial management can make it overwhelming. From material costs to labor expenses, managing your budget effectively is essential to maintaining profitability. At Balance Sheet Pro, we specialize in helping home builders stay on top of their finances with tools and strategies tailored to your business. Our services allow you to track costs, forecast budgets, and handle tax compliance with ease, so you can focus on turning blueprints into reality.
Renovation and Remodeling Companies
In the fast-paced world of renovations and remodeling, keeping track of finances can quickly become complicated. Changing project scopes, unexpected expenses, and tight timelines make financial management even more critical. At Balance Sheet Pro, we provide specialized accounting solutions designed for renovation and remodeling companies. Our services help you monitor expenses, manage cash flow, and stay within budget while maximizing profitability. With our expertise, you’ll have the peace of mind to focus on transforming spaces and exceeding client expectations.
Commercial Builders
Commercial builders take on some of the most complex and large-scale construction projects, from office buildings and retail centers to industrial facilities and public infrastructure. Managing these projects requires meticulous planning, budgeting, and execution, but the financial side of things often adds layers of complexity. At Balance Sheet Pro, we understand the unique challenges commercial builders face, including tracking multi-million-dollar budgets, managing project-specific costs, and ensuring compliance with industry regulations. Our comprehensive accounting solutions are designed to simplify these processes
Why a Regular CPA or Bookkeeper Isn't Enough for Construction Accounting
Key Difference: Traditional accounting often tracks income and expenses for the entire business, while construction accounting is project-centric. Why It Matters: Construction accountants track costs, revenues, and profitability at the project level, ensuring accurate financial insights for individual jobs.
Key Difference: Construction businesses require detailed tracking of costs (labor, materials, equipment) for each job, unlike traditional accounting, which focuses more on categories like "supplies" or "salaries." Why It Matters: Accurate job costing helps determine profitability and prevent cost overruns, which is critical for making informed bidding and project management decisions.
Key Difference: Construction accounting often uses specialized revenue recognition methods, like: Percentage of Completion: Revenue is recognized based on project progress. Completed Contract: Revenue is only recognized after a project is finished. Why It Matters: A general accountant might mishandle revenue recognition, leading to inaccurate financials, tax issues, or compliance risks.
Key Difference: Change orders in construction alter project costs and revenue mid-job. Traditional accounting doesn't often handle this level of variability. Why It Matters: Construction accountants know how to track and manage these changes, ensuring they're properly reflected in budgets and financial statements.
Key Difference: Retainage is a percentage of payment withheld by the client until project completion— a concept unique to construction. Why It Matters: A construction accountant tracks retainage separately, ensuring it's accurately accounted for in cash flow and receivables.
Key Difference: Construction businesses have significant investments in heavy equipment, requiring tracking of depreciation, maintenance, and usage costs. Why It Matters: Construction accountants properly allocate equipment costs to jobs, ensuring accurate job profitability analysis.
Key Difference: Construction payroll involves challenges like prevailing wages, union regulations, certified payroll reporting, and varying employee classifications (hourly vs. subcontractors). Why It Matters: A construction accountant navigates these complexities to keep payroll compliant and accurate.
Key Difference: Construction companies must maintain specific financial reports to qualify for bonding and surety. Why It Matters: Construction accountants produce financial statements that meet bonding requirements, helping secure bids and contracts.
Key Difference: Construction projects often have uneven cash flow due to retainage, upfront costs, and staggered payments. Why It Matters: A construction accountant ensures proper cash flow planning to avoid disruptions in operations or project completion.
Streamline Your Construction Finances Now!
Schedule a free consultation today and let’s discuss how we can help you build a stronger, more profitable
construction business.
