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
Construction-Specific Bookkeeping Expertise
Our team has deep experience working with general contractors, subcontractors, and construction firms across multiple trades. We understand industry-specific complexities such as retainage, progress billing, change orders, job costing, and AIA-style invoicing. You won’t need to explain how your business works — we already speak the language of construction and apply best practices that align with how contractors actually operate in the field and in the office.
Job-Level Financial Visibility
Ontrack structures your bookkeeping around projects, not just transactions. Every cost and payment is tracked at the job level, giving you clear insight into which projects are profitable, which are running over budget, and where margins are tightening. Instead of guessing or relying on outdated numbers, you’ll have accurate, up-to-date financial data to support better bidding, pricing, and project management decisions.
Integrated & Automated Systems
We streamline your bookkeeping by integrating QuickBooks (Online or Desktop), Xero, and relevant construction or invoicing tools into one cohesive system. Bank feeds, expenses, payroll entries, and customer payments are automated wherever possible, reducing manual work and minimizing errors. This integrated approach ensures your financial data stays consistent across systems and your reports reflect the full picture of your operations.
Accurate, Reliable Books You Can Trust
Accuracy is a non-negotiable standard at Ontrack. Every account is reconciled thoroughly, and every transaction is reviewed for proper classification. You can rely on your books to be clean, consistent, and audit-ready at all times. Whether you’re preparing for tax season, meeting with a lender, or reviewing performance internally, your financials will stand up to scrutiny without last-minute cleanups.
Clear Reporting & Ongoing Support
You’ll receive clear, structured financial reports on a monthly basis — or more frequently if your business requires it — showing job performance, expenses, and overall financial health. Our team doesn’t just send reports; we’re available to explain them, answer questions, and flag issues early. If something doesn’t look right, we bring it to your attention and help you address it before it impacts cash flow or operations.
Frequently Asked Questions
Do you handle construction payroll and certified payroll reports?
Yes. We can work with your payroll provider to ensure all construction payroll data is properly recorded in your books. If you have projects that require certified payroll reports, we help organize the necessary information from your payroll system so you can submit accurate reports.
Can you work with my construction management software?
Absolutely. We commonly integrate accounting with tools that contractors use. Whether you’re using a time-tracking app for your crew or a project management software that exports financial data, we’ll make sure that information flows into your bookkeeping system. Our goal is to reduce manual data entry and keep everything in sync.
My projects span many months – can you do accrual accounting for long-term contracts?
Yes. We can maintain your books on an accrual basis, recognizing revenue and expenses in the period they occur rather than just when cash moves. For long-term contracts, we’ll track receivables, payables, and WIP so that your income statements reflect the work completed during the period. This gives you a more accurate picture of profitability on ongoing projects.
Do I still need a CPA if I have an OnTrack bookkeeper?
We recommend you retain a CPA for tax filing and high-level financial advice. Our team ensures your day-to-day and month-to-month financials are accurate, organized, and tax-ready. Think of us as handling the heavy lifting of recordkeeping and reporting, while your CPA uses those accurate books to file taxes and provide strategic guidance when needed.
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.