Simplified Construction accounting & bookkeeping
The construction business is complicated, and you always have a lot on the go. Running your company can quickly become an administrative nightmare of managing various projects and crews, customer service, percentage of completion accounting, and billing. Bookkeeping quickly takes a back seat because there just aren’t enough hours in the day.
The construction industry in Alberta is in the midst of a sustained downturn, which means you must be as efficient as possible to survive, because your competitors are.
Construction Accounting Facts
Only 25% of projects come within 10% of their original deadline
Only 31% of all projects come within 10% of the budget
Nearly half of construction professionals report spending more time than expected on non-optimal activities (like administration)
26% of workers say they are frustrated by the lack of tools that they need to do their job
Up to 30% of initial data created during design and phases is lost by project closeout
A seamless construction accounting and project management system streamlines operations; freeing up your time and empowering you to make more informed decisions. Outsourcing your bookkeeping gives you more time for managing projects and winning proposals; which increases your chances of success.
Better tools for construction accounting
- Real-time job-costing and construction in progress accounting helps you stay on top of all the work that you have on the go
- View the status of all ongoing projects, and update those statuses from the field for the entire team to see
- View tradespeople and crew’s availabilities and schedule out work at the touch of a button
- Create fast and accurate proposals and quotes on the spot;
- Track timecards, expenses and mileage directly to jobs, from the field
- Provide your client with status updates and change orders automatically;
- Compare billing to the original quote and all the accumulated job costs and then bill customers immediately on completion
- Receive payments immediately from customers through online invoicing
- Do it all from the field on your phone
- Keep track of expenses and expense reports
- Manage the accounting for your construction company, making sure it’s always up to date and consistently accurate
- Handle your time-tracking and payroll so that your employees, contractors, and the CRA are always paid on time and accurately
- Prepare your yearend financial statements
- Prepare your yearend corporate tax returns
- File your GST returns on time, every time
- Beautiful cash flow budgets and forecasts that give you insights into your future
- Understand each project’s job costs so that you can make more informed decisions about the work you accept
- We’ll help you interpret your financial results and give you ideas on how to improve them
- We work with business owners to create cultures that work. We help with everything from leadership to hiring and team development, to business strategy and marketing
“Achen Henderson has certainly helped me, enlightened me, in terms of where we’re at… They get it; they understand your troubles and adversities. They are committed to working with you and helping you find solutions – they take a vested interest, and they care. They have helped me focus my thoughts and focus on where I want to take the company.
The overall leadership skills that I’ve developed through working with Achen Henderson has certainly put the company in a much better place. We’ve come such a long way, in just six months, we’ve turned the whole culture and leadership environment around at Element.
If you’re thinking about switching – do it.”
~ James Durant, Owner and President, Element Land Surveys
Your cpa for contractors: Quickbooks and more
We know the challenges that you are facing because we have been a CPA for contractors and have worked in construction accounting for years. If you are already on QuickBooks for construction, QuickBooks online for contractors or some other system, we’ll meet you where you are and help you build a system that works. Let us manage your accounting system, reporting, and payroll so that you can spend more time providing quotes and leading projects.
Up late planning tomorrow? Up early checking the bank balances? We are right there with you every step of the way, no matter how big or small your business is.
It all starts right here, imagine the possibilities.