Bookkeeping Services
Accurate job costing, subcontractor tracking, and WIP management to keep every project on track and profitable.
Ontrack Bookkeeping understands that construction and contracting businesses face unique financial hurdles. From juggling multiple project budgets to dealing with complex payroll and supplier payments, contractors need more than generic bookkeeping – they need an industry-specific approach. We specialize in bookkeeping for contractors, bringing clarity to your job costs and structure to your financial processes so you can focus on building, not bookkeeping.
Our Contractor Bookkeeping Services
Job Costing & Budget Tracking
Every expense is categorized by project (with detailed cost codes if needed). This gives you a clear view of each job’s budget versus actual spending, so you immediately spot if a project is veering off course.
Work-in-Progress (WIP) Management
We help maintain WIP schedules and track progress billing. You’ll know exactly what portion of each contract is earned revenue, preventing surprises from overbilling or underbilling. Your financial statements will accurately reflect project status at month-end.
Subcontractor & 1099 Management
We track subcontractor invoices and payments with precision. Our team handles W-9 collection and end-of-year 1099 filings for your subs. You’ll always know what you owe to each subcontractor and that all payments are documented properly for tax time.
Accounts Payable & Vendor Management
Never lose track of a bill. We record and organize all vendor bills for materials, equipment rentals, and other job costs. Each expense is matched to the correct project and vendor, ensuring timely payments and strong vendor relationships.
Payroll Integration
Whether you have a crew of employees or rely on independent contractors, we integrate your payroll with your books. Labor costs get assigned to the right jobs, and if you’re dealing with certified payroll or prevailing wage projects, we help ensure those records are accurately reflected in your accounting system.
Financial Reporting & Tax Preparation
You’ll receive clean financial statements and job profitability reports every month. We customize your chart of accounts for construction, so you see meaningful categories like labor, materials, and overhead for each project. When tax season arrives, your CPA gets a complete, accurate set of books – making filings and audits hassle-free.
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Why Contractors Choose Ontrack Bookkeeping
Working with Ontrack means gaining a financial partner who understands construction inside and out. Our experienced bookkeeping team has worked with general contractors, specialty trades, and construction firms, so we know terms like retainage, change orders, and AIA billing without needing a tutorial. We set up automated workflows to pull in your bank transactions, integrate with QuickBooks (Online or Desktop), and even sync data from your project management or invoicing software.
Accuracy and communication are at the core of our service. We reconcile your accounts down to the penny and double-check that every transaction is coded correctly. Each month (or week, if you prefer more frequent updates), you’ll receive clear reports showing how each project is performing financially. No more guessing which jobs are profitable – you’ll have the numbers at your fingertips. And if something looks off, we’ll alert you and work together to get it resolved.
In short, we don’t just keep your books; we help keep your projects on track financially. By partnering with Ontrack, you gain peace of mind that your bookkeeping is handled by people who “get” your business. You can bid on that next job or manage your crew without worrying about whether a bill was missed or if payroll was entered correctly. We’ve got it covered.
Frequently Asked Questions
Do I still need a CPA if I work with Ontrack?
Yes—your CPA files your taxes, and we provide accurate, up-to-date books to make tax time fast and stress-free.
Can you work with my construction management software?
A bookkeeper handles day-to-day entries. A controller ensures accuracy, produces in-depth financial reports, and oversees financial strategy. They’re the bridge between bookkeeping and CFO-level decision-making.
My projects span many months – can you do accrual accounting for long-term contracts?
A bookkeeper handles day-to-day entries. A controller ensures accuracy, produces in-depth financial reports, and oversees financial strategy. They’re the bridge between bookkeeping and CFO-level decision-making.
Do I still need a CPA if I have an Ontrack bookkeeper?
A bookkeeper handles day-to-day entries. A controller ensures accuracy, produces in-depth financial reports, and oversees financial strategy. They’re the bridge between bookkeeping and CFO-level decision-making.
Case Study: Construction Company Gains Profit Clarity
“Keeping track of job expenses used to be a nightmare for us. We often found out too late that a project went over budget. Ontrack changed everything. They reorganized our books by jobs, set up a proper cost coding system, and now we get weekly updates on each project’s profitability. We went into tax season with the most organized books we’ve ever had – and zero surprises. It’s been a game-changer for our construction business.” — Mark T., Owner of a Commercial Contracting Firm
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Let’s Build a Plan
That Works for You
Want clean books and confident reporting for your construction business? Let’s talk about a custom bookkeeping plan tailored to your needs. Whether you’re a solo contractor or running multiple crews, we’ll craft a solution that keeps you organized and in control.