A Detailed Guide To Construction Accounting Service

Accountants for construction firms provide excellent financial management and tax services for your company’s specific needs. There are often very specific details for construction businesses, which is why having an accountant to ensure everything is being handled properly and timely is important. A+ Tax Experts specialize in providing these services so you can focus on your clients and projects.

Construction firm accounting is more complicated than others because of the job-characteristics, per-project invoicing, costing, and other construction projects’ features. Therefore, construction businesses need accountants who can manage prevailing wage regulations, maintain actual expenses, and perform various other accounting duties.

Many areas in Philadelphia, PA are experiencing a construction boom. Besides creating jobs and economic opportunities, construction companies are contributing to enriching local communities through the construction of new housing, small and large businesses, and shopping and entertainment options.

While other businesses typically offer very few types of products or services, construction businesses offer a wide range of services. This may include construction work, design services, consulting, engineering, supplying materials, and more.

Accounting Services For Construction Companies And Contractors In Philadelphia

Construction companies work from project to project and typically manage multiple projects simultaneously. Most projects aren’t necessarily paid for once they are completed. This can make tracking expenses very difficult for construction companies and they may need to generate separate profit and loss (P&L) statements for each project.

At A+ Tax Experts, we specialize in construction company accounting that is designed to help construction companies and contractors reach their maximum profit potential. We have worked hard to build lasting relationships with many leading construction companies by providing insightful financial advice, quality accounting and prompt tax services.

Finest Accounting For Construction Company.

Construction companies also have to experience fluctuating overhead costs in relation to insurance, travel, workers’ compensation, materials, subcontractors, equipment etc, which need to be factored into the accounting process.

It is necessary to understand that construction accounting extends beyond the traditional accounting and bookkeeping requirements of a fixed-location business. construction equipment and workers are constantly moving from site to site to complete a variety of different jobs.

Therefore, it is essential for construction companies to have an effective accounting system for keeping track of income and expenses, and for reconciling transactions.

With our support, your construction business can succeed and thrive financially and keep more of your profits in your pocket.

Our construction accounting and bookkeeping services in Philadelphia include:

  • Small and large business accounting,
  • Operational reviews and assessments,
  • Business loan assistance,
  • Job estimating and costing,
  • Insurance compliance,
  • Fixed asset accounting and depreciation,
  • Monthly closings,
  • Succession planning and business valuation,
  • Cash balance tracking,
  • Bank and credit card reconciliations,
  • General ledger maintenance,
  • Tax planning, preparation and compliance,
  • Sales tax processing, and
  • QuickBooks™ system setup.

Our accounting for construction can also assist you with routine day to day bookkeeping, payroll, audits, and additional tax needs.

An experienced accounting professional can provide necessary financial insights regarding your construction business by implementing the day-to-day recording of your financial transactions through smart bookkeeping. Your accounting firm can simplify and improve your construction bookkeeping process by:

  • Recording all the information from your receipts and invoices with the help of construction accounting software, which will save your business precious time and eliminate manual errors,
  • Keeping digital copies of your receipts and invoices on a cloud-based technology that will allow you to access these files anytime, and anywhere.
  • Using construction job costing software to manage project costs and general business ledgers which will simplify your job costing process, especially when your projects are complex.

Philadelphia Accounting Service For Construction Businesses And Contractors.

To minimize your taxes and make the most of your revenues, you need the expertise of a qualified construction accounting firm like A+ Tax Experts.

We offer tax planning, preparation and filing services to a variety of construction-related businesses including small contractors like electricians, plumbers, painters, HVAC companies, roofers and many more all across Philadelphia.

Besides offering tax preparation services and year-round tax planning to minimize taxes for all kinds of construction businesses, our firm also calculates and submits payroll tax filings and helps construction companies maximize eligible tax credits at state and federal levels.

Planning to start a new construction business in Philadelphia?

We work with construction companies, contractors and other new business owners to select the structure that will limit their taxes owed at the end of the year.

Contact Us For Your Specific Accounting Needs.

A+ Tax Experts is a multi-specialty accounting firm where experienced professionals work together in cross-disciplinary teams to strategically solve challenges faced by your business.

Because we truly understand construction accounting, tax issues and financial management, construction businesses of all sizes and different trades rely upon our Accounting Services In Philadelphia.

Call us right away to schedule a consultation with our experts to learn more about our construction accounting and tax services for construction companies, contractors, tradesmen, home builders and all types of construction businesses.


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