Financial Statement Compilations & Reviews
CPA-prepared or CPA-reviewed financial statements for bonding, surety, and lender requirements, quoted based on scope.
Contractor financial statementsIndustries · Construction
CPA and CFO support for contractors and specialty trades.
Job costing, work-in-progress reporting, cash flow, bonding and lender support, and the entity and owner tax planning that construction businesses need, from a Pensacola CPA firm.
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Common Challenges
What goes wrong between the field and the books.
Job costs that do not tie to the books
Estimates, purchase orders, and payroll land in different systems, so job profitability is a guess until the job is long over.
Work-in-progress known only at year end
Over- and under-billings, percentage of completion, and backlog calculated once a year, when the numbers can no longer change a decision.
Cash flow squeezed by retainage and timing
Pay-when-paid terms, retainage, and front-loaded material costs that leave a profitable company short of cash.
Bonding and lender requests
Surety agents and banks asking for CPA-prepared financial statements, WIP schedules, and projections on a deadline.
Overhead and equipment by guesswork
Equipment, vehicles, and indirect costs allocated to jobs inconsistently, if at all, so margins by job and by trade are unreliable.
Owner and entity tax surprises
Entity structure, owner compensation, equipment purchases, and estimated taxes handled after the fact instead of planned.
How We Help
Construction finance built from the job up.
We set up job costing that ties to the general ledger, build and maintain work-in-progress schedules so over- and under-billings and backlog are visible every month, and forecast cash flow with retainage and pay-when-paid timing in the model rather than ignored.
For bonding and financing we prepare the financial statement compilations and reviews, WIP schedules, and lender packages sureties and banks ask for, under the applicable professional standards, and we coordinate directly with the bonding agent and the bank. We will tell you plainly if a surety or lender requires a level of service we do not provide.
Overhead and equipment costs get an allocation method that holds up, payroll and accounting are kept in step, and entity and owner tax planning happens before year end. When the business needs ongoing financial leadership, fractional CFO advisory covers budgeting, forecasting, banking, and growth decisions.
Relevant Services
What a construction business engages us for.
Tax Preparation
Entity and owner returns, trust and estate returns, tax planning, and notice assistance, with published starting fees.
Tax preparation and starting feesMonthly Accounting & Bookkeeping
CPA-led monthly bookkeeping, reconciliations, month-end close, and financial statements, starting at $300/month.
Monthly accountingFractional CFO Advisory
Ongoing financial leadership: cash flow, forecasting, KPIs, banking, and the decisions that shape the company.
Fractional CFO advisoryBusiness Advisory & Projects
Defined projects with a written scope and price: cleanup, systems, modeling, transactions, and special projects.
Business advisory projectsCommon Questions
Construction questions.
Can you prepare the financial statements our bonding agent asks for?
Yes. We perform financial statement compilations and reviews under the applicable professional standards, with the work-in-progress schedule and supporting schedules sureties expect, and we coordinate with your bonding agent on what level of service the program requires. If a requirement calls for a level of service we do not provide, we say so before any work begins.
Do you set up job costing in QuickBooks or our accounting system?
Yes. Job costing setup, chart of accounts design, cost codes, and the reporting structure are part of our accounting system setup and conversion work, billed hourly and scoped in writing first.
Do you work with subcontractors and specialty trades?
Yes. General contractors, subcontractors, specialty trades, and related construction businesses, from a single-crew company to a multi-crew contractor with bonding requirements.
More Industries
Support shaped to other industries.
Next Step
Get the jobs and the books telling the same story.
A consultation on job costing, work-in-progress, cash flow, and what your bonding and banking relationships need.
Individual tax prep online: 850 Tax (opens in a new tab). 850 CFO Online (coming soon).