Construction bookkeeping is not the same as bookkeeping for any other business, and when it is done with a generic playbook, the numbers stop telling the truth. Job costs blur into overhead, retainage disappears, and billings drift out of sync with the work performed. Precision Accounting & Consulting builds and repairs contractor books so they reflect what is actually happening on your jobs—giving you financials you can bid from, borrow against, and hand to a surety with confidence.
What we do
We handle day-to-day construction bookkeeping and full catch-up and cleanup engagements for New York contractors and subcontractors: a construction-specific chart of accounts, job-costed transactions, retainage tracking, WIP support, monthly reconciliations, and reporting that ties the field to the office. Whether your books are current but imprecise or years behind, we get them accurate and keep them that way.
Bookkeeping built for how contractors actually work
Our contractor bookkeeping and cleanup services include:
- A construction-specific chart of accounts that separates direct job costs from indirect costs and overhead.
- Job costing so every labor, material, subcontractor, and equipment dollar lands on the right project.
- Retainage receivable and payable tracking so your receivables and cash forecast are real.
- Work-in-progress (WIP) support with over- and underbilling accounts for percentage-of-completion reporting.
- Monthly bank, credit card, and loan reconciliations that actually get done.
- Catch-up and cleanup of neglected or miscategorized books, brought current at a clean period boundary.
- Accounts payable and receivable organization, including subcontractor and lien-waiver tracking.
- Bonding- and lender-ready financial statements produced on a reliable schedule.
The problems we solve
- “My P&L says I’m profitable, but there’s never any cash.”
- “I don’t know which jobs actually made money.”
- “My books are months behind and I have a bonding or loan application due.”
- “My overhead is mixed into job costs, so I can’t trust my margins.”
- “Retainage and change orders never seem to be tracked right.”
Why a construction specialist matters
A general bookkeeper can record transactions. A construction specialist knows that a labor dollar and an office dollar are not the same, that retainage is not a normal receivable, and that billings ahead of work are a liability, not profit. That difference is what turns a set of books from a compliance chore into a decision-making tool. Our construction practice works exclusively with the accounts, schedules, and reports contractors depend on, so your financials answer the questions you actually have.
How we work
- Assess. We review your current books, software, and reporting needs, and diagnose where the numbers are breaking down.
- Rebuild or clean up. We restructure your chart of accounts, reclassify miscoded costs, and catch the books up to a clean starting point.
- Maintain. We keep the books current each month with job-costed entries, reconciliations, and retainage and WIP tracking.
- Report. We deliver job cost, WIP, and financial reports you can use to bid, manage cash, and satisfy sureties and lenders.
Serving New York contractors
Based in Melville, New York, we work with general contractors, subcontractors, and specialty trades across Long Island, New York City, and the surrounding region. From single-crew shops to established mid-market firms, we bring the same disciplined, construction-specific approach to every set of books.
Frequently asked questions
How is construction bookkeeping different from regular bookkeeping?
Construction bookkeeping tracks costs by job, separates direct costs from overhead, and handles industry-specific items like retainage, change orders, and work-in-progress. Generic bookkeeping misses these, which is why contractors so often show profit on paper while cash runs short.
My books are a year behind. Can you still help?
Yes. Catch-up and cleanup work is a core part of what we do. We reconstruct and reclassify prior periods, bring the books current to a clean starting point, and then keep them maintained going forward.
Do you work with my accounting software?
We work with the major accounting platforms contractors use and set them up with a proper construction chart of accounts and job costing. If your current setup is holding you back, we will tell you and help you fix it.
Can clean books really help with bonding?
Absolutely. Sureties rely on accurate WIP schedules and over/under billing figures to judge your financial health. Well-organized, construction-specific books are often the difference between a smooth bonding review and a stalled one.
Do you also handle taxes and job costing?
Our bookkeeping connects directly to job costing and works alongside tax planning. Clean, job-costed books are the foundation that makes accurate job costing, WIP reporting, and tax strategy possible.
Ready for construction books you can actually trust? Learn more about our construction accounting services and job costing and WIP support, or contact Precision Accounting & Consulting to get your books current and accurate.
This page is for general informational purposes only and does not constitute accounting, tax, or legal advice. Consult a qualified professional about your specific situation.
For contractors billing through monthly AIA pay applications, bookkeeping is not just coding invoices. The pay application, the retainage held and the earned revenue all have to be reconciled every month or the balance sheet quietly drifts.