Specialized accounting for contractors – from job costing to audit-ready financial records and everything in between.
Construction accounting is fundamentally different from standard business accounting. At Cifras & Exito, we specialize in the unique financial needs of contractors, builders, and construction companies. We understand the complexities of job costing, progress billing, retainage, and multi-project management.
Our construction accounting services are designed to give you real-time visibility into project profitability, help you manage cash flow through the project lifecycle, and ensure you’re prepared for audits, bonding requirements, and lender reporting.
Accurate job costing is the foundation of profitable construction projects. We set up detailed cost tracking systems that monitor labor, materials, equipment, and subcontractor costs by project, giving you the ability to compare actual costs against estimates in real-time.
Our systems help you identify cost overruns early, manage change orders effectively, and ensure you’re billing accurately for work completed. We also handle the complexities of percentage-of-completion accounting, work-in-progress (WIP) reports, and overhead allocation across multiple projects.
Specialized services designed for the unique needs of construction businesses.
Job cost accounting
Detailed tracking of all costs by project including labor, materials, equipment, and subcontractors.
Cost control
Real-time monitoring of project costs against budgets to identify variances and prevent overruns.
Subcontractor management
Tracking subcontractor costs, managing 1099 reporting, and monitoring subcontractor performance.
Progress billing
Accurate billing based on percentage of completion, including retainage tracking and change orders.
WIP reports
Work-in-Progress reports showing project status, profitability, and completion percentages for lenders and bonding.
Audit support
Preparation for and support during audits, including documentation, job cost reconciliation, and compliance.
Contract accounting
Percentage-of-completion and completed-contract accounting methods tailored to your contract types.
Bonding support
Financial statements and reports required for surety bonding, including contractor qualification packages.
Industry knowledge
Deep understanding of construction accounting principles, terminology, and the unique challenges contractors face.
Project profitability
Clear visibility into which projects are profitable and which aren’t, enabling better bidding and management decisions.
Cash flow management
Strategies to manage the cash flow challenges unique to construction, including retainage and progress billing.
Bonding & financing
Financial statements and reports that meet surety and lender requirements, helping you secure bonding and financing.
Technology integration
Construction-specific software and QuickBooks setups that streamline job costing and project management.
Bilingual support
Clear communication with your team and subcontractors in English or Spanish for better collaboration.
Get construction accounting that works as hard as you do. Let’s discuss your needs.
