Construction Accounting Bookkeeping

Accurate, job focused accounting built for contractors who need reliable job costing, clean monthly closes, and accurate financials that reflect what is actually happening on their projects.

Designed for general contractors, subcontractors, and specialty trades operating multiple active projects who want financial clarity, stronger margins, and disciplined oversight across their entire construction operation.

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Construction only focus

Lender and CPA friendly financials

Job costing and WIP ready

What we do

This service covers the core construction accounting and bookkeeping required to keep your books accurate and job costing reliable on an ongoing basis.

We handle transaction posting, reconciliations, general ledger maintenance, and disciplined month end close. All costs are recorded at the job and cost code level so labor, materials, equipment, and subcontractor expenses land on the correct jobs. This creates a clean foundation for job costing, WIP, retainage, and consistent financial reporting.

We also perform accounting cleanups and restructures when books are messy or historically misaligned, either as part of onboarding or as a separate scope.

Our role is to manage the accounting system and maintain accurate financial data, while your team continues to oversee day to day operations and approvals. This shared structure helps ensure the numbers stay accurate and aligned with how work is actually performed.

The Construction Accounting Problems We Fix

Most construction accounting issues come down to structure and consistency. When systems are not built around jobs, the numbers stop reflecting what is actually happening in the field.

We regularly step in to fix problems such as:

Job costs not landing on the correct job or cost code
Charts of accounts that are messy or inconsistent
Bank, credit card, and loan reconciliations that are behind
Billing, retainage, and revenue recognition not aligned
Financial statements that look complete but do not reflect operational reality
Owners not knowing which jobs are profitable or where money is being lost

FinTruction’s Bookkeeping & Accounting service is designed to correct these issues at the accounting level so reporting becomes dependable and job performance is clear.

What Good Looks Like

Once construction accounting is structured correctly and maintained consistently, the difference is clear.

This is what clients experience after we take over construction accounting and bookkeeping:

Accurate, repeatable month-end close with no lingering unknowns
Clear job-level cost visibility across labor, materials, equipment, and subcontractors
Consistent coding by job and cost type, month after month
Financial statements that can be confidently used for decisions, lending, and tax planning
A system that stays clean even when workload grows or teams change
Confidence in knowing which jobs are profitable and where margins are changing

What we do

Accounting Cleanups and Catchups

Historical transaction cleanup
Job and cost code corrections
Chart of accounts restructuring
Reconciliation and financial alignment

Core Bookkeeping

Transaction posting and categorization
Monthly bank, credit card, and loan reconciliations
General ledger maintenance
Month-end close discipline

Job Costing Foundation

Job and cost code tracking setup
Budget vs actual tracking
Committed cost and overhead allocation
Job profit and cost visibility

WIP and Revenue Alignment

Work in progress (WIP) tracking
Percentage of completion alignment
Revenue recognition accuracy
Retainage tracking

AR and Billing Support

Progress billing and AIA billing
Change order billing
Customer follow-ups and collections
Accounts receivable aging

AP Support

Vendor bill processing
Accounts payable aging
Subcontractor bill tracking
Cash flow awareness

Payroll Posting and Reconciliation

Payroll posting and allocation
Union payroll handling
Fringe benefit tracking
Payroll tax liability reconciliation

Compliance Support

Vendor W-9 tracking
Subcontractor insurance and compliance
Accounts receivable aging support
State and local filings where applicable

Monthly Financial Reporting

Balance Sheet
Income Statement (Profit and Loss)
Cash Flow Statement
Job cost and margin summaries

Monthly Review Calls

Walk-through of monthly financial statements
Review job costs, margins, and variances
Discuss trends, risks, and follow-ups
Alignment on next month priorities

Our Monthly Close Process

A consistent close process is what keeps construction accounting reliable over time. Our monthly close is structured, repeatable, and designed to keep job costing and financial reporting accurate.

Weekly cadence during the month

Ongoing transaction posting and coding
Reconciliations kept current instead of piled up
Job cost reviews as costs hit the books
Early identification of missing or incorrect entries

Month end timeline

Cutoff alignment for the reporting period
Final reconciliations for banks, credit cards, loans, and key balance sheet accounts
Job cost and WIP checks completed before close
Revenue and billing alignment reviewed

Close checklist

All accounts reconciled and reviewed
Job and cost code accuracy validated
Payroll, AP, and AR balances confirmed
Adjusting entries posted where required
Financial statements finalized

Review and sign off workflow

Internal review for accuracy and completeness
Issues and questions documented and resolved
Final approval before reports are released

What you receive at the end of close

Final Balance Sheet, Income Statement, and Cash Flow Statement
Job cost and margin summaries
AR and AP aging reports
Notes highlighting key items, changes, and follow ups

What Clients Say

Testimonials from construction businesses we support with ongoing accounting and bookkeeping.

What Changed After We Fixed Their Books

• Job costs finally lined up
• Cash flow stopped jumping around
• WIP and retainage handled correctly
• Problems caught before they turned into losses

Review

“Firstuction is the only bookkeeping team we’ve found that truly understands construction accounting and WIP reporting. They took six months of messy data, cleaned our financials, and showed us exactly where we were profitable and where we were leaking money. Their attention to detail and responsiveness is unmatched. They are a true partner.”

What Other clients say

⭐⭐⭐⭐⭐

“We were running multiple jobs, and the numbers never lined up. FinTruction went back, cleaned everything, fixed our job costing…” Read More

Michael Turner
General Contractor

⭐⭐⭐⭐⭐

“What stood out was that they already understood construction. Job costing, retainage, payroll, nothing needed explaining…” Read More

Jason Miller
Construction CFO

⭐⭐⭐⭐⭐

“Before this, we were mostly reacting. Now we know what’s coming in, what’s still owed, and which jobs are doing well…” Read More

Ryan Walker
Roofing Contractor

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Designed for
Serious Construction Operators

✓ Who This Service Is For

General contractors managing multiple active projects
Subcontractors and trades tracking labor, materials, and equipment costs
Multi-job operators who need consistent job costing
Growing construction teams that need structure and discipline in their accounting

✕ Who This Service is Not For

Non construction businesses
One-off operators who do not track jobs or projects
Businesses looking for basic bookkeeping without job costing or ongoing structure

How Pricing Typically Works

Pricing is structured around monthly service packages based on the size and complexity of your construction operations.

Costs are driven by factors such as transaction volume, number of active jobs, number of entities, and payroll complexity. Each package includes ongoing construction accounting, job costing support, monthly close, and standard financial reporting.

One-time onboarding or cleanup fees may apply when books require restructuring before ongoing services begin.

Frequently Asked Questions

Common questions from construction businesses considering ongoing accounting and bookkeeping support

Yes. Our bookkeeping and accounting services are built exclusively for construction businesses. Everything we do is designed around job costing, cost codes, WIP retainage, and multi-job operations. We do not provide generic bookkeeping for non-construction industries.

We structure your accounting system so every transaction is tied to a specific job and cost code. Labor, materials, subcontractors, equipment, overhead allocations, and change orders are tracked separately for each project. We maintain real-time job cost reports and compare actual costs to budgets throughout the project lifecycle. This ensures profitability is monitored continuously, not just at completion.

Yes. We first review your current chart of accounts and cost code structure to determine whether it accurately reflects how your projects operate. If the structure works, we optimize and standardize it. If improvements are needed, we redesign it carefully without disrupting active jobs. The goal is clarity and job-level visibility, not unnecessary complexity.

Yes. We prepare and maintain accurate Work in Progress schedules for contractors operating under percentage of completion accounting. We calculate overbillings, underbillings, earned revenue, and cost to complete so financial statements reflect true project performance. This ensures accurate reporting for lenders, bonding companies, and tax filings.

Retainage is recorded separately from standard receivables and payables to ensure accurate reporting of withheld amounts. We track retainage by job and reconcile it regularly to prevent lost revenue or delayed collections. This keeps cash flow projections realistic and avoids surprises at project closeout.

Yes. We specialize in construction accounting clean-ups. This includes correcting job misallocations, reconciling retainage balances, rebuilding WIP schedules, adjusting revenue recognition, and ensuring payroll and subcontractor costs are properly coded. Our objective is to rebuild financial integrity without disrupting ongoing operations.

We implement structured workflows and internal review checkpoints before transactions are finalized. All expenses, payroll allocations, and subcontractor bills are reviewed against job numbers and cost codes. Monthly reconciliations and management reviews further verify accuracy. Systems and discipline prevent misclassification.

We support construction-focused accounting platforms including QuickBooks Online, Foundation, Sage, and other systems commonly used by contractors. We also integrate accounting software with construction management tools such as ServiceTitan, Knowify, and similar systems to ensure financial data aligns with field operations.

Yes. We frequently coordinate with external CPAs and tax advisors. We ensure financial statements, WIP schedules, payroll data, and supporting documentation are prepared in a format suitable for tax filing and compliance. Our role is to strengthen the financial foundation so your tax professionals can operate efficiently.

Books are closed monthly. Each close includes reconciliations, job cost review, WIP adjustments where applicable, and management reporting. We then conduct structured financial reviews to analyze profitability, cash flow, and job performance. This ensures decisions are based on current and accurate financial data.

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