Contractor Bookkeeping Services For Maine

Your success as a contractor and developer depends not only on our understanding of your industry and operations but also on having a strong financial and business common sense. We provide financial, tax, and consulting services to construction industry clients, ranging from small proprietorships to large, multi-state contractors. Our clients include general contractors, construction managers, developers, specialty contractors, and related service providers. In addition to handling the daily bookkeeping, our qualified professionals apply their unique industry knowledge to help you reduce overhead costs, minimize tax liability, and foster calculated growth to ensure your business’ success.

Managing Every Aspect of Bookkeeping and Accounting for Construction and Contracting Businesses

As a result, the IRS typically requires that contractors use percentage of completion for long-term projects. Although home construction projects and small business contractors are often exempt if the size of the project and the size of the contractor are within their defined limits. They define small contracts as any project to be completed within two years and define a small contractor as having $25 million in gross receipts (over a three-year period). Our Construction Outsourced Accounting Services System Is An Assembly Line – Where contractors bookkeeping services tasks are divided into groups and assigned by skill level. Some Construction Bookkeepers – Are hopelessly disorganized and without a construction bookkeeping services system they cannot provide the Profit And Loss, Balance Sheet and other Financial Reports and Job Costing Reports you need.

Percentage of completion method

We have an environment that encourages personal and professional growth and a passion for the firm’s core values. Our goal is to free the How Construction Bookkeeping Services Can Streamline Your Projects business owners from the tedious task of bookkeeping. Assisting and allowing you to focus on operations, growth and profitability of their businesses. We continue to be recognized and known for delivering timely, quality and professional services. The people best suited to help you meet your business goals are those most familiar with your business.

• Since I’ve switched to using Apparatus, I’ve been able to focus on growing my business while not dealing with the books.
• You wouldn’t have a carpenter rewire your house and you wouldn’t have a painter fix your plumbing.
• You’ll have the financial strategy support you need to supercharge the profitability of your business.
• Josh not only helps develop custom back-office systems, but is instrumental in ensuring transaction processing systems are maintained to ensure that we always provide timely reporting to our clients that we are so privileged to serve.
• My promise is that I’ll be there, as questions or issues arise, every step of the way.

Outsourced Construction Bookkeeping Services

One thing that is undeniable is the importance of accurately tracking your numbers and evaluating those numbers to make better decisions. Use the right accounting method for your construction projects and be sure to job cost every job every time. Nearly half of all small businesses, however, do not currently employ an accountant or bookkeeper. A refined understanding of WIP, job costing, IRS requirements, and more is required. DB&B’s outsourced construction accounting services provides you more time to focus on your business while we handle all your accounting needs.

• Accounting is said to be the language of business, as it tells the story of how well your business is doing financially.
• Our clients include general contractors, construction managers, developers, specialty contractors, and related service providers.
• In addition to handling the daily bookkeeping, our qualified professionals apply their unique industry knowledge to help you reduce overhead costs, minimize tax liability, and foster calculated growth to ensure your business’ success.
• Our dedicated team of professionals serves general contractors, subcontractors, developers and suppliers in the region.

The resulting destruction to you, your crew, your company and the poor family whose home you are working on would be extremely expensive. For construction bookkeeping you need people trained in construction bookkeeping. We are a Mid-Coast Maine based business ready to help, whether you live next door or across the country. We have a packet exchange route in Newcastle/Damariscotta, if you are on our route, we would be happy to stop in once or twice a week to pick up paperwork that needs to be processed.

That’s why we offer affordable pricing plans to ensure that every business, regardless of size, can access our services. My promise is that I’ll be there, as questions or issues arise, https://www.merchantcircle.com/blogs/raheemhanan-deltona-fl/2024/12/How-Construction-Bookkeeping-Services-Can-Streamline-Your-Projects/2874359 every step of the way. We have 30 years of experience handling the unique accounting needs of the construction industry and helping contractors take home what they deserve. These four inputs drive the WIP schedule and are used to calculate the three primary outputs that help you assess your current jobs and your firms’ financial performance.

• Let us help you assess job profitability, make decisive growth decisions, and understand what is going on with your construction business.
• At Apparatus Contracting Services, we know the path to becoming a contractor doesn’t take a pit stop at Finance 101.
• Nearly half of all small businesses, however, do not currently employ an accountant or bookkeeper.
• Revenue is recognized when cash is collected and expensed when cash is spent.
• The team at DB&B understands the unique challenges that come with accounting for contractors.
• Our goal is to free the business owners from the tedious task of bookkeeping.
• Meru Accounting provides world-class services that cater to all the needs of cloud accounting and bookkeeping of your business.

Certified Public Accountants & Business Advisors

You built your construction company with the tools and skills you learned on the jobsite. Now you’re a business owner, which requires a completely different skillset. We offer comprehensive payroll services, including processing payroll, managing employee benefits, and filing payroll taxes. Our team will handle all of the details so you can focus on growing your business. My love of construction and understanding of the uniqueness of construction accounting led me to the formation of Construction Accounting Professionals.