Construction Accountant

Accounting and Financial Services for the Construction Industry

Managing accounts for a construction company can be very time-consuming. You need an experienced professional who fully understands the ins and outs of the industry. Cubed Consultancy is a Accounting Construction Financial Management Company dedicated to supporting construction companies by providing the highest standards of services related to compliance and financial health.

We Help Construction Companies with Their Tax, Accounting, and Financial Support Needs

At Cubed Consultancy, understand the construction industry is different from other industries, which is why we focus on providing a completely tailored solution for all our client’s business needs. You need financial experts who understand the construction business, and we’re here to help. We offer a complete range of accounting and finance services to help you achieve your corporate goals.

How Cubed Consultancy Can Assist Your Construction Company

Bookkeeping and Payroll

We provide a wide range of accounting services including payroll services, taxes, accounting planning, and bookkeeping to help construction companies manage efficiently.

Tax

Our professionals can help you navigate the tax and accounting issues that arise throughout your business’s lifecycle.

Wealth Management

Our goal is to help businesses grow and succeed; we make this possible by offering strategic financial advice and effective solutions that simplify your business challenges.

Audit and Forensic

Our experts focus on helping clients meet their accounting, tax, and financial reporting needs while maintaining compliance with federal, state, and local governmental agencies.

Corporate Finance

Our corporate finance services include helping construction companies improve their financial structure and performance, assisting with strategic planning and business development, and other financial support services that meet their needs.

Support Services for the Construction Industry

Whether you are a start-up construction firm or one with thousands of employees, we can provide reliable services that make it easy to generate financial reports, protect your business from tax-related issues, and plan for future growth.

Why Construction Clients Choose Us

We have the qualifications.

We are a registered ICAEW firm; with this qualification, we can help you achieve your goals and objectives.

We are customer-centric.

You can trust that our team will always be approachable and professional regardless of your business size or success.

We have a diverse team.

The number of years of experience we have in providing financial services for construction businesses put us in a great place to help all our clients.

Let’s Work Together

We are a team of experts who will help you navigate the unique challenges of the construction and contracting industry. We’ll make sure you get the most out of your tax, accounting, and financial support needs—contact us today!

what is construction accountant

Construction accounting is a specialised branch of accounting that focuses on financial management and record-keeping for the construction industry. It involves tracking and reporting financial information related to construction projects, such as costs, revenues, and expenses. Construction accountant helps contractors, subcontractors, and construction companies manage their finances effectively and make informed decisions about project profitability, cash flow, and overall business performance.

Key aspects of construction accountant include:

Job Costing: Construction projects are typically unique and involve multiple cost elements. Job costing consists in assigning and tracking costs to specific projects or jobs. It helps determine the profitability of each project and provides insights into cost overruns or underestimations.
Revenue Recognition: Construction projects often span an extended period, and revenue recognition can be complex. Construction accountants follow recognised accounting principles to determine when and how much revenue to identify as the project progresses.
Estimating and Bidding: Construction accountant includes estimating costs and preparing bids for potential projects. Accurate estimating is crucial for winning contracts and ensuring profitability.
Progress Billing: Construction companies often bill their clients periodically based on the completion of project milestones. Construction accountants manage the billing process and ensure accurate invoicing and timely payments.
Overhead Allocation: Construction companies have indirect costs, such as office rent, equipment depreciation, and administrative expenses. Construction accountants allocate these overhead costs to individual projects to determine their profitability.
Cash Flow Management: Construction projects require substantial upfront investments and often experience delays in payment. Effective cash flow management is vital to cover expenses, manage working capital, and ensure the financial stability of the construction business.
Tax Compliance: Construction accountants ensure compliance with regulations specific to the construction industry, such as sales tax, use tax, and payroll tax. They prepare tax returns and optimise tax strategies to minimise tax liabilities.

Construction accounting systems may use specialised software integrating project management, cost tracking, and financial reporting tools. This allows for streamlined data entry, real-time project monitoring, and the generation of financial reports tailored to the construction industry’s unique needs.