Construction Bookkeeping & Accounting
Construction accounting is different. From construction job costing to certified payroll WH-347 to surety bond financial statements, we understand the unique financial needs of contractors.
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- Reviewed or audited financials for surety underwriters
- WIP schedules and percentage-of-completion accounting
- Average client increases bonding capacity 2–3x within 12 months
Construction Accounting Challenges We Solve
Construction companies have specialized accounting needs. We've built our practice around solving them.
Job Costing
Track costs by project to understand profitability and bid accurately on future work
Progress Billing & AIA
Managing G702/G703 billing, retainage, and cash flow across multiple projects
Certified Payroll
Davis-Bacon compliance, prevailing wages, and certified payroll WH-347 reporting
Cash Flow Management
Long project cycles, vendor terms, and seasonal work create cash flow complexity
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How We Get You Bonding-Ready
A four-step process to take your books from wherever they are today to CPA-reviewed financial statements for bonding, and keep them that way.
Step 1
Books cleanup
Bring your books to GAAP-compliant standard, retroactive if needed. We reclassify entries, reconcile job-cost ledgers, and rebuild prior periods so your starting position is defensible.
Step 2
WIP schedule build
Set up percentage-of-completion accounting with job-cost coding. We construct your WIP schedule for contractors, costs incurred, earned revenue, billings, over/under, and projected gross profit per job.
Step 3
CPA-reviewed financials
Produce reviewed or audited financial statements that surety underwriters expect. Format and disclosures match what bonding programs require to evaluate working capital and equity.
Step 4
Ongoing monthly maintenance
Keep WIP and financials current so renewals and capacity increases are routine. Monthly close, quarterly WIP refresh, and annual reviewed statements on a predictable cadence.
Step 1 typically pairs with our business systems audit. Larger contractors layer in fractional CFO services for forecasting, capacity planning, and surety negotiations.
Guide: How to Increase Your Bonding Capacity, coming soon.
Complete Financial Management for Contractors
From construction job costing to certified payroll WH-347 to surety bond financial statements, we handle the complexities of construction accounting, including percentage-of-completion accounting and AIA billing on every active job.
- Job costing and WIP reporting
- Progress billing (AIA G702/G703)
- Certified payroll processing (WH-347)
- Prevailing wage compliance
- Subcontractor management and 1099s
- Equipment depreciation tracking
- Bonding support and CPA-reviewed financial statements
- Workers' compensation audits
- Multi-state payroll for traveling crews
- Percentage-of-completion accounting
Contractor Results
What our construction clients achieve
2–3x
Bonding Capacity Increase
30d
To Bonding-Ready Financials
100%
Certified Payroll Compliance
48hr
Certified Payroll Turnaround
Bonding Programs We Work With
We've prepared financials for contractors working with most major U.S. surety markets, including SBA-backed bond programs and private commercial surety. Our CPA-reviewed financial statements for bonding are formatted to meet the documentation standards underwriters expect, whether you're building single-project bonding, aggregate capacity, or moving up to a larger surety program.
Common Project Types
Different project types create different accounting nuances. We code, bill, and report against each one correctly.
Public works
State and municipal projects with prevailing-wage requirements, certified payroll, and strict retainage rules. We code costs to comply with awarding-agency reporting.
Federal Davis-Bacon
Federally funded work demands WH-347 certified payroll, fringe-benefit accounting, and DOL-ready records. We file weekly and keep the audit trail clean.
Commercial GC
General contracting on commercial builds means AIA billing, change-order accounting, sub default risk, and rolling WIP schedules across concurrent jobs.
Residential
Custom and spec residential builders need draw-schedule billing, lot-cost tracking, and inventory accounting that holds up at year-end tax time.
Specialty trades
Electrical, mechanical, concrete, framing, high labor burden, equipment depreciation, and multi-site payroll. Job costing has to roll up cleanly to your WIP.
Construction Accounting & Bonding FAQs
Do you prepare certified payroll reports?
Yes, we prepare certified payroll WH-347 reports for prevailing wage jobs, including Davis-Bacon projects. We ensure accurate fringe benefit calculations, proper wage classifications, and timely submission of required reports.
Can you help with construction job costing?
Absolutely. We implement construction job costing systems that track labor, materials, subcontractors, and equipment by project. This gives you real-time visibility into job profitability and helps you bid more accurately on future work.
Do you handle bonding financial statements?
Yes. We prepare CPA-reviewed financial statements for bonding, structured the way surety underwriters expect to see them, or coordinate audited statements when required. We work directly with your bonding company to address any questions.
How quickly can you get my financials bonding-ready?
Typical timeline is 30–90 days, depending on the condition of your books. Clean books with a solid chart of accounts can be bonding-ready in about 30 days. Books that need retroactive cleanup, WIP schedule construction, and prior-period reclassification usually take 60–90 days before a CPA can issue reviewed surety bond financial statements.
Do you work with my surety broker directly?
Yes. We communicate directly with your surety underwriter and broker and provide whatever statements, WIP schedules, accounts receivable agings, and supporting documentation they request. You stay in the loop without having to be the middleman.
What's a WIP schedule and why does my surety need it?
A WIP schedule (work-in-progress schedule) is a job-by-job report showing contract value, costs incurred to date, percentage complete, revenue earned, amounts billed, and the over/under-billing position. Surety underwriters use it to model risk, it tells them whether you're earning profit on open jobs, whether you're front-loading billings, and how much working capital is tied up in unbilled work. No serious bonding program approves capacity without it.
Can you do an audit if my project requires one?
We coordinate with an audit-qualified CPA partner for audited financial statements when a specific bond, project, or program requires it. For most private commercial surety programs, CPA-reviewed financial statements for bonding are sufficient, we'll tell you straight which level your program actually needs.
Do you handle AIA G702/G703 progress billing?
Yes, full AIA billing support. We prepare G702 pay applications and G703 continuation sheets, track retainage by project, account for change orders, and reconcile AIA billings against your WIP schedule so revenue recognition stays accurate.
Ready to Streamline Your Construction Finances?
Join contractors who've improved their job profitability, certified payroll compliance, and bonding capacity with our specialized construction accounting services.
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