Our construction bookkeepers ensure accurate calculation and reporting of WIP, enabling informed decision-making and ensuring compliance with accounting standards. Construction project accounting involves tracking costs, revenues, and budgets on a project-by-project basis. Unlike standard accounting, which focuses on general financial management, construction accounting requires tracking multiple jobs, retention, job costing, and progress billing. This helps evaluate the profitability of each project and maintain accurate financial records to deliver construction expense reports for clients.

Why Choose Invensis as Your Government Contracting Accounting & Bookkeeping Company?

Although this software isn’t well-known outside of the accounting world, it’s a life-saver when it comes to collecting documents securely and asking transaction questions for our clients. Your 1099 forms need to be entered correctly whenever you work with a subcontractor. We offer year-end 1099 filing services to ensure that these forms are completed accurately and filed contractor bookkeeping services correctly. Our QuickBooks Online Setup services help you to get started with your own QuickBooks account.

Company

At the core of our service https://www.bookstime.com/ is bookkeeping for contractors, builders and construction companies. For personalized bookkeeping solutions, consider hiring a professional or using advanced accounting software tailored to contractors. Being an independent contractor comes with freedom, flexibility, and opportunities.

Sales Tax Reporting

Quickbooks Online stands as one of the most sought-after accounting software solutions available. Lucky for you, we’re certified Quickbooks Online ProAdvisors, equipped with in-depth knowledge of the platform! If you’re aiming to harness the software’s full potential, count on us as contractor bookkeepers to guide you every step of the way.

What are the most important qualities in a contract bookkeeper?

Our end-to-end services include recording financial transactions, classifying them, maintaining financial records, reconciling accounts, and more. Our outsourced accounting services for government contractors offer cost savings of up to 40%, increase operational efficiency by 30%, and ensure 100% compliance with government regulations. Invensis offers a range of specialized construction industry accounting & auditing services, including financial statement audits, compliance audits, and internal control assessments. Our bookkeeping services for construction companies teams ensure adherence to industry standards and regulatory requirements while providing insights into financial performance and risk management. We also conduct audits of Work-in-Progress (WIP) and project cost accounting, helping construction companies identify discrepancies and enhance financial transparency for stakeholders.

• We are one of the top providers of outsourced accounting for government contractors because of our wide exposure in offering robust accounting services.
• Her writing covers a wide range of topics, including tax regulations, financial reporting standards, and best practices for compliance.
• Having a formal contract in place with your accountant is crucial to outlining the scope of services and fees.
• It’s important to consult a legal professional to ensure you draft this clause appropriately.
• It’s more than just numbers on a spreadsheet; it’s about empowering contractors to thrive in their craft while someone else (us!) takes care of the financial puzzle.

A Bookkeeping Contract is a contract between a bookkeeper and a client to provide financial services. It sets forth the bookkeeper’s obligations, client expectations, and payment. Proper bookkeeping ensures you track earnings, pay estimated taxes, and avoid penalties. Certified bookkeepers stay updated on accounting standards, tax laws, and financial software through continuing education. Many independent contractor bookkeepers hold APB (Accredited Professional Bookkeeper) certification, demonstrating mastery of essential accounting skills. Use this section of the bookkeeping contract template to indicate which services are being procured by the client.

Request a Free 30-minute Consultation Our Construction Bookkeeper and Accountant Assistants Today!

The team, especially Morgan and Tara, are incredibly responsive and proactive. They don’t just handle the work – they anticipate what I need and often solve problems before I even realize they exist. It’s rare to find a service provider who genuinely cares about your success and takes the time to build a real partnership. The transition was seamless, and the level of attention to detail has been outstanding.

Never Overpay in Tax and Build a More Scalable Business

This clause helps manage expectations and protects both parties from unforeseen circumstances. It’s important to consult a legal professional to ensure you draft this clause appropriately. Think of a bookkeeping contract as the comprehensive user manual for the ongoing relationship. An engagement letter, on the other hand, is a more focused document outlining the specifics of a particular project within the larger framework of the contract. BOOST comprehends how complex and intricate the incurred cost proposal (ICP) submission is, and we allocate enough time for processing and reviewing. Additionally, our BOOST team uses not only the recommended incurred cost electronically (ICE) Remote Bookkeeping model but also the checklist to allow for easy submission.