How Our Accounting Can Help Construction Companies

Accounting Matters in Construction Companies

They say that Utah has four seasons: Tax Season, Construction Season, Rushed Construction Season, and Not Construction Season. Yeah, a lot of construction gets done around here. Of late, we’ve been seeing an uptick in construction companies coming to us for accounting services. It’s only really a surprise that we haven’t seen more before now. Construction companies can benefit from our accounting services as much as anything.

Construction Companies Need Good Accounting

Managing the finances for a construction company often requires as much precision as the construction itself. You have to manage the cash flow to cover the cost of building materials, pay the crew, plus there’s all the prepwork and, naturally, taxes come spring.

While accounting can be a benefit to just about any industry, construction companies can benefit from our services because it helps them be aware of their spending. What services do we specifically offer that can help?

1. Bookkeeping

Bookkeeping is about managing your financial records so that you have everything you need to know how much you’re spending, how much you’re making, and how much you owe. It’s very math heavy, which is a turnoff for many, but the need for organization cannot be understated. Knowing the best way to organize your records can save you a lot of time searching for them later.

While a lot of people use QuickBooks to do it themselves, the skills aren’t something everyone has. That’s where we come in. As both a QuickBooks Pro Advisor, we can help you with managing your records. That way, you can rest easy knowing it will be done right and spend more time focusing on running your company.

2. Payroll

Everybody wants to get paid. With the current state of the economy, however, there’s a lot of turnover in employment. It could be hard to keep track of everything before, but now things are even more difficult. A second set of eyes, especially a pair trained in managing finances, can help make sure everything stays in order.

3. Tax Preparation

Spring is tax season and that can be stressful. Tax liabilities can be a serious risk, so you want to avoid an audit. With smart filing, you can reduce your tax liabilities, but make a mistake and they’ll come after you. This is where a local tax accountant – like us! – can be very helpful. It’s our job to know the tax codes, both federal and local, to help our clients get through with the least amount of trouble possible.

Taxes aren’t just a once a year thing, however; waiting until the last minute is always a mistake. Working with our firm, we can help you prep your materials on a quarterly basis so that you know how you’re doing as the year progresses. When it comes time to file in spring, you’ll have a lot of it already done, minimizing the work you have to do in March and April.

It’s Not Too Late

It’s mid-March now and everybody’s hurrying to get their taxes ready before the due date on April 18. While we always advise our clients to be working on their taxes much earlier than now, it’s still not too late to get them done. If you’re struggling to get everything together, why not give us a call? If you’re in Northern Utah, we can give you a hand with whatever tax needs your business has!