Contractor and subcontractor management to handle the full lifecycle of contracts, from creation to billing and payment. Foundation Software is ideal for contractors looking for a platform that offers both construction-specific features and strong payroll capabilities. Xero is best for businesses looking for an easy-to-use, affordable accounting solution that integrates with other construction-specific tools. Job costing to track expenses related to specific projects, allowing you to determine profitability on a per-project basis. Choose a bookkeeping service with a proven track record of reliability and integrity. Look for client testimonials or case studies that demonstrate their ability to manage construction finances effectively, maintain accuracy, and meet deadlines.

Remote Access Your QuickBooks Desktop  Version In The Cloud

• Irregular payment cycles, retentions, and upfront costs are common in the construction industry.
• Not All Outsourced Contractor Bookkeeping Services Are Good – There are some Red Flags to watch for and avoid that could cause your construction company in Maine more pain than you are experiencing now!
• Use accounting software to track payment due dates and follow up on overdue payments to avoid cash flow issues.
• Bookkeeping shouldn’t be the thing that trips up new business owners and entrepreneurs.
• Robin L Jordan CPA was established to provide accounting, tax, and business advisory services to corporations, small businesses and individuals throughout the New Gloucester area.
• Client communication tools for sending estimates, invoices, and updates directly to clients, streamlining the billing process.

Our smart system defaults to filling in timecard information with just a few keystrokes construction bookkeeping — or sync mobile timecards — and FOUNDATION calculates pay rates, taxes, and deductions automatically. This means you can process multi-state, multi-union, and multi-trade timecards, helping to simplify the processes. The FOUNDATION Construction Payroll Software Module helps contractors pay their crews on time — even with multiple prevailing wage, union, fringe, and tax rates on each construction project.

Outsourced Fractional CFO and Part-Time Controller

You’ll have the financial strategy support you need to supercharge the profitability of your business. You’ll have a precision system to track income and expenses to the project or customer level. We provide the service, tools, and training you need to close the gap – while freeing you up to do what you do best. When it arrives no matter how organized or disorganized it is we pre-process it before it enters our workflow where it is scanned and uploaded into paperless servers in the cloud. Most Builders and Remodelers don’t have a handle on the finances of their business.

Easy and Cost Effective

All Bronze services, additional accounting services, basic JobTread®, Buildertrend®, CoConstruct or other CMS platform https://digitaledge.org/the-role-of-construction-bookkeeping-in-improving-business-efficiency/ integration and support, and weekly Zoom® financial reports review meetings with your team. Our mission is to provide builders, developers, GCs, and specialty contractors the precision accounting services they need to aggressively grow their businesses and their bottom lines. The construction industry is susceptible to business cycles, special income tax problems, information systems, financial reporting, bonding needs, and financing needs. All require special knowledge on the part of professionals who serve the industry. When service calls and maintenance tasks are part of your core business, Sage 100 Contractor’s field service management tools equip you to deliver responsive, high-quality support.

• Our focus is on providing uncomplicated accounting services to builders, general contractors, plumbers, electricians, developers, and other construction-related businesses.
• Project management tools to create estimates, track expenses, and manage cash flow across multiple jobs.
• You get a comprehensive financial management system built specifically for Maine contractors by construction industry veterans who understand your challenges.
• These insights help inform key decisions, including budgeting, forecasting, and managing cash flow effectively.
• Expert bookkeepers ensure that all project-related expenses are accounted for correctly and allocated to specific jobs.
• By freeing up time spent on administrative work, you can focus on more critical aspects of growing your business.
• A growing business requires financial systems that can handle increased transaction volume and complexity.

All Contractor Bookkeeping Services Are Different – Some are good, some not so good. There are some Red Flags to watch for and avoid that could cause your construction company in Maine more pain than you are experiencing now! We’ll go over your business challenges and unique needs, and see where you can unlock new value from your technology and make your operations run easier.

Precise Tracking of Project Costs

Here are some benefits you get with an accounting platform designed specifically for this industry. Document management to organize contracts, change orders, and project documentation in one place. Client communication tools for sending estimates, invoices, and updates directly to clients, streamlining the billing process. Our team of financial planning experts will work with you to develop a customized plan to help you achieve your financial goals. Whether you are planning for retirement or saving for a major purchase, we can help. For a complete bookkeeping solution for your construction business, contact us today for a free quote.

Industries of Expertise

They also ensure proper documentation of these transactions, such as 1099 forms for independent contractors, which helps avoid payment disputes and keeps the project moving smoothly. Real-time financial tracking, so you can stay on top of cash flow, job costs, and client payments. Keep accurate records of all incoming and outgoing payments, including client invoices and vendor bills. Use accounting software to track payment due dates and follow up on overdue payments to avoid cash flow issues. Too often contractors in Maine hire the wrong bookkeeper mistakenly believing all bookkeepers are the same. Construction bookkeeping can differ from traditional bookkeeping because construction companies have unique financial needs.

• Progress billing is a common practice in Construction Bookkeeping Services help track project milestones and ensure invoicing is done accurately and on time, maintaining positive cash flow throughout the project lifecycle.
• Job costing tools, allowing you to allocate costs to specific project tasks and track spending accurately.
• The construction industry often faces delayed payments from clients or contractors, creating cash flow issues.
• This video shows you how we onboard a new client company and how we transform their books into a precision construction accounting system.
• Armed with this data, you can make informed decisions about pricing, resource allocation, and bidding on future projects, all of which contribute to the long-term profitability of your business.

Optimize your field operations with mobile-friendly tools that connect office and field staff in real-time. Technicians can access work orders, enter time and update status from any device while dispatchers gain real-time visibility into schedules and job progress. Your more profitable future starts with the best construction accounting software in Maine. Using our construction payroll software, users can streamline all payroll processes for their business. With FOUNDATION, you can automate certified payroll and help ensure accuracy and compliance with prevailing wage laws.