What We Do
Contractors are busy - up with the sun, they and their crew spend the days subjected to any inclement weather that comes their way. It’s fulfilling work, but exhausting at the same time. After all, there are deadlines - and the intention is to meet them. With an intense focus on the project at-hand, it’s hard to worry about the numbers, isn’t it?
What kind of profit are you going to make on the construction?
Is there enough money to cover payroll?
What do your projections look like for this quarter? Next quarter?
Handling your bookkeeping and accounting needs on top of ensuring the project is moving smoothly is way too much for anyone to handle. At Wallace Account & Advisory, we believe that you should do what you do best - and leave the accounting up to us.
Types of Construction Accounting Services
Construction accounting services involve more than your basic accounting. There are so many differences for each contractor and each project. The list of services we provide is extensive, but it includes some very important aspects, such as:
Fixed asset accounting
Job costing and project budgeting
Sales tax processing
Monthly closings
Bank reconciliations
Percentage of completion approach
Tax planning
Payroll services
Financial audits
And so much more! There are different methods for handling construction accounting and we work to find the best approach for your needs.
Why Choose Us?
To get the most out of your accounting services, you shouldn’t just choose any accountant, but rather one who can offer you exactly what you need. And when it comes to those in the construction industry, there is a lot more involved than your ordinary general bookkeeping.
When working in construction, you have to have precision and expertise to ensure that the building will stand the test of time. The same holds true for your accounting. Small things that may be overlooked now can seriously impact the future growth of your construction business.
At Wallace Accounting & Advisory, we have the tools and experience that are essential to helping you find success. Whether you are looking for someone to handle your basic accounting needs or you have big plans for your future, we are dedicated to being with you every step along the way.
Frequently Asked Questions
Do contractors need accountants?
You don’t have to use an accountant to handle your finances. But, many find it more cost-effective to have a professional handle their books throughout the month than taking the time to try to do it themselves.
Think of it this way. If someone tries to do a home renovation project themselves rather than calling a contractor - who do they end up calling to fix an even bigger mess? That’s right - a contractor! They should have just called the professional in the first place.
Can an accountant help me grow my construction business?
Absolutely. Accountants have a lot of experience in analyzing financial situations, making projections, and strategizing for future growth. With a careful eye, accountants can find ways to make your business more efficient - and increase your cash flow.
How can I get started?
If you are interested in learning more about construction accounting, call Wallace Accounting & Advisory today at (214) 741-6721.