Specialized Bookkeeping & Accounting for Construction Companies
Stop Guessing on Job Costs & Maximize Your Profit Margins.
Stop doing paperwork late at night and start bidding more jobs. Our dedicated construction accounting team handles your WIP reports, AIA billing, and precise job costing so you can run a more profitable construction business.
The Contractor Risks You Face:
- Unprofitable projects due to bad job costing
- Missing unbilled change orders
- Cash flow crunches from delayed retainage
- Inaccurate Work In Progress (WIP) reports
- Generic CPAs making costly errors
The PennyWise Solution:
- Bulletproof, true job costing
- Dedicated construction accounting experts
- Buildertrend & Procore synchronization
- Fast & accurate AIA Progress Billing
- Surety & bank-ready WIP reporting
Get a Free Bookkeeping Review
Speak with a Construction Finance Specialist Today.
100% Secure & Confidential.
Is Your Messy Bookkeeping Eating Your Profit Margins?
Construction accounting is uniquely complex. A standard bookkeeper treats your company like a retail store—a mistake that ruins cash flow and prevents bonding. Contractors come to us when they are struggling with:
Inaccurate Job Costing
- Guessing if a project actually made money
- Missing hidden material costs and overhead
- Failing to invoice for costly change orders
Cash Flow Crunches
- Paying crews before getting paid by the GC
- Losing track of outstanding retainage
- Unclear distinction between over/under billings
Wasted Founder Time
- Doing paperwork on weekends instead of bidding
- Double-entering data in Procore and QBO
- Disorganized payroll and prevailing wage headaches
PennyWise acts as your outsourced construction finance department, ensuring every dollar is tracked to the right job so you can build with confidence.
The PennyWise Construction Accounting Advantage
True Job Costing
We ensure every labor hour, material purchase, and overhead percentage is allocated accurately to the correct project.
Construction Tech Integrations
We are experts in the modern construction tech stack. We seamlessly connect QuickBooks with Buildertrend, Procore, and CoConstruct.
Reclaim Time to Bid
Every hour you spend in QuickBooks is an hour you aren't bidding and winning new jobs. Outsource your books to scale your company faster.
WIP Reporting & Bonding
We provide accurate over/under billing analysis and Work In Progress (WIP) schedules required by your surety bonding agents and banks.
AIA Progress Billing
We manage complex percentage-of-completion billing (AIA G702/G703) to ensure you get paid on time for the work you've completed.
Payroll & Compliance
We help navigate complex union dues, workers' comp tracking, certified payroll, and prevailing wage requirements seamlessly.
Comprehensive Monthly Accounting For Contractors
Stop guessing about your job profitability. Get a dedicated accounting partner who speaks the language of construction finance.
- Detailed Job Costing: Tracking direct costs and indirect overhead to every single project.
- WIP Schedules: Monthly preparation of Work In Progress reports for banks and sureties.
- Software Synchronization: Keeping Buildertrend, Procore, and your payroll perfectly aligned with QBO.
- Progress & AIA Billing: Preparing accurate G702/G703 invoices to prevent payment delays.
- Retainage Tracking: Monitoring accounts receivable to ensure you collect your withheld retainage.
- Accounts Payable Management: Processing vendor bills and managing 1099 subcontractor payments.
- Historical Cleanup Projects: Behind on your books? We rebuild and reconcile months of messy data fast.
- Year-End Tax Prep: Delivering perfectly clean books to your CPA for hassle-free corporate tax filing.
The ROI of Expert Construction Bookkeeping
- Never lose money on a job unknowingly again
- Get approved for larger surety bonds faster
- Stop forgetting to invoice for change orders
- Gain total clarity on your company's cash flow
- No more owners working weekends on paperwork
- Seamless tax seasons without extension panic
Why Generalist Accountants Fail Contractors
General CPAs & Bookkeepers vs PennyWise Construction Specialists
| Generic Accounting Services | PennyWise Construction Bookkeeping | |
|---|---|---|
| Job Costing | Lumps all material and labor expenses into a single general ledger bucket. | Allocates every expense to specific projects and cost codes. |
| Billing Methods | Only knows how to send basic, generic invoices. Misses retainage. | Handles complex AIA billing, progress billing, and retainage tracking. |
| Software Integration | Unfamiliar with construction tools. Relies on manual data entry. | Deep integrations with Buildertrend, Procore, and QuickBooks Online. |
| Financial Reporting | Provides a basic P&L that doesn't reflect actual project stages. | Delivers bank-ready WIP (Work in Progress) schedules and over/under billings. |
| Industry Focus | Juggles restaurants, retail shops, and e-commerce clients. | 100% focused exclusively on contractors and construction companies. |
Outsourced Bookkeeping vs Hiring In-House Admin
| Hiring In-House Construction Admin | PennyWise Construction Bookkeeping |
|---|---|
| Expensive salary, benefits, PTO, and payroll taxes | Fixed, affordable, and predictable flat monthly retainer |
| Often lacks specific training in advanced WIP reporting | Instant access to highly trained construction finance experts |
| Operations halt if the employee quits or takes vacation | A dedicated team ensures continuous, reliable ongoing service |
| Additional overhead for office space and software seats | Fully remote bookkeeping (we utilize our own tech stack) |
Specialized Expertise for Every Construction Trade
From general contractors to specialty trades across the US, our remote accounting team understands the unique financial mechanics of the construction industry.
General Contractors
Manage complex subcontractor 1099s, multi-stage project billing, and detailed WIP reports for commercial and residential GCs.
Home Builders & Remodelers
Track allowances, manage complex change orders seamlessly, and integrate directly with your Buildertrend or CoConstruct software.
MEP Trades
HVAC, Electrical, and Plumbing companies benefit from precise material tracking, inventory management, and labor cost allocation.
Heavy & Civil Construction
Handle intensive equipment costing, depreciation tracking, prevailing wage payroll compliance, and large-scale bonded projects.
Specialty Subcontractors
Roofing, concrete, and drywall trades get streamlined progress billing and retainage tracking to ensure you collect what you earn.
Are Your Books a Mess?
We specialize in historical cleanup. We can untangle months of neglected books to get you ready for surety bonding fast.
Request Cleanup ServicesA Seamless Onboarding Process
Construction Consultation
Book a free discovery call. We'll review your current project management software, payroll setup, and transaction volume.
Secure Integration
We securely connect your bank accounts, QuickBooks Online, and construction software (e.g., Buildertrend, Procore).
Automated Scaling
We take over entirely. You receive perfect job costing, accurate WIP reports, and real-time cash visibility every single month.
What Contractors Are Saying
"Got our bonding increased."
"Before PennyWise, our WIP reports were a mess and our surety agent was frustrated. They cleaned everything up, dialed in our job costing, and we were able to increase our bonding capacity immediately."
"Flawless Buildertrend Sync."
"They actually understand how construction billing works. They synced our QuickBooks and Buildertrend perfectly, capturing change orders our old CPA used to miss entirely. Highly recommend."
"I got my weekends back."
"As a busy electrical contractor, I was wasting my weekends trying to do my own books and invoicing. Handing this off to PennyWise gave me the time back to bid more jobs."
Construction Accounting FAQ
What is a WIP (Work In Progress) report?
A WIP report is a crucial accounting schedule that tracks the financial performance of your ongoing projects. It details contract amounts, estimated costs, billed-to-date, and identifies over or under billings, which is essential for surety bonding.
Do you integrate with construction tech software?
Yes. We are experts in the construction technology stack. We integrate QuickBooks Online seamlessly with popular platforms like Buildertrend, Procore, CoConstruct, and Foundation to automate your data flow.
Do you handle AIA progress billing?
Absolutely. We are highly experienced in generating accurate G702 and G703 forms for percentage-of-completion billing, ensuring you get paid faster by general contractors or owners.
How much does construction bookkeeping cost?
Pricing is a fixed monthly retainer based on your company's specific needs, project volume, and overall complexity (e.g., prevailing wage, multi-state payroll). We provide a transparent, custom quote during your consultation.
Our job costs are a mess. Can you fix them?
Yes. We offer dedicated historical catch-up and cleanup services. If you are behind on reconciliations, need to prepare for a surety audit, or just need to fix a messy QBO file, our team can reconstruct your project data quickly.
Are you a CPA firm? Do you file taxes?
We are a specialized construction bookkeeping and accounting firm. While we do not file corporate tax returns ourselves, we provide perfect "tax-ready" financials to your existing CPA, drastically reducing the time and cost of your tax preparation.
Secure Your Company's Financial Future Today.
Impress bonding agents with flawless financials, protect your margins with precise job costing, and get reliable monthly support from experts who understand the business of construction.
- Perfect Job Costing & WIP Reports
- AIA Progress Billing Management
- Buildertrend & Procore Integrations
- Dedicated Construction Finance Experts
Most contractor inquiries receive a response within one business day.
Get Your Free Bookkeeping Assessment
Speak directly with a Construction Accounting Specialist.
100% Secure & Confidential