Precision Accounting & Consulting is based in Melville, New York and works with clients nationwide.
Construction accounting is not regular accounting. Between job costing, WIP schedules, retainage, certified payroll, and prevailing wage, a contractor’s books have to answer questions a general bookkeeper never sees — and getting them wrong costs you real money, bonding capacity, and sometimes an audit. Precision Accounting & Consulting builds construction financials that hold up with your bank, your surety, and the DOL.
What we do: full-service accounting, bookkeeping, and tax built specifically for New York contractors — job costing, WIP reporting, certified payroll and prevailing-wage support, and bonding-ready financial statements, so you always know which jobs make money and your financials are ready when a bank or surety asks.
Most accountants can reconcile a bank statement. Far fewer understand percentage-of-completion revenue, labor burden, committed costs, or why a job that “looked fine” blew its margin at closeout. We work with general contractors, subcontractors, and specialty trades — union and non-union — across Long Island, NYC, and New York State.
Costing labor at the base wage instead of the fully-burdened rate can make every job — and every bid — look 25–40% more profitable than it really is. A WIP schedule built on bad job-cost data misstates your profit to the exact people deciding your credit and bonding. A certified-payroll error on a public job can trigger withholding or debarment. These aren’t bookkeeping quirks; they’re the difference between a contractor that scales and one that stalls. We build the systems that keep them right all year, not just at tax time.
Based in Melville on Long Island, Precision Accounting & Consulting works with contractors across Long Island, the five boroughs, and New York State — on-site where it makes sense and remotely everywhere else.
New York work carries rules that out-of-state accountants routinely miss. Contractors pay sales tax on materials for capital improvement jobs with no credit back, while repair work is taxable to the customer, a distinction we explain in our guide to sales tax on construction in New York. Public work brings monthly electronic certified payroll filings to NYSDOL, and contractors who cross into New Jersey face a separate set of certified payroll requirements with much lower contract thresholds.
A construction accountant handles job costing, WIP schedules and percentage-of-completion revenue, retainage, labor burden, certified payroll, and bonding-ready financial statements — the industry-specific reporting general accountants typically don’t provide and that banks and sureties require.
Yes. We support NYSDOL certified payroll and Davis-Bacon prevailing-wage compliance, including fringe-benefit handling (cash vs. plan) and accurate filings on the schedule each agency requires for public and union work.
Yes. We produce surety- and lender-friendly financial statements with accurate WIP schedules, which are central to protecting and growing bonding capacity.
Yes — general contractors, subcontractors, and specialty trades, union and non-union, across New York.
Yes. We regularly take on cleanup and catch-up engagements, rebuild the job-cost structure, and get contractors back to accurate, timely monthly reporting.
If you want financials that tell you the truth about every job — and hold up with your bank, surety, and the DOL — Precision Accounting & Consulting can help. Contact us to talk with a construction accounting specialist about your company.
Disclaimer: General information only, not accounting, tax, or legal advice. Consult a qualified professional about your company’s specifics.