Backoffice2 Construction Accounting Services
Though bookkeeping is a necessity for every business, it can also be confusing and complicated if you are unsure about how to do it properly. For contractors and construction company owners, the task is almost impossible if you do not have the right tools. Construction companies have different accounting needs than typical businesses and therefore need experienced construction accounting in Gainesville, FL. At Backoffice², we provide customized services to benefit your business.Get Started Now
Importance of Job Costing Software
Regular accounting focuses on developing financial records for tax returns and basic services determining overhead costs, amount of profit, and accounts payable and receivable. Contractors have different needs because business and clients are constantly changing and business is conducted on location. With so many variables, these unique companies require a job costing system that is customized specifically to them. Job costing calculates each resource that is used in real time and attributes it to the corresponding job. This includes materials, hours worked by each employee and subcontractor and the total cost for the project when it is completed. If the project has a long estimated completion date, job order costing data can be analyzed to indicate if the project is in line with the projected budget. During this time, the software will also track travel time, costs of bringing equipment to the job site and bring it all back when the project is completed. Relationships with subcontractors can also be simplified by processing subcontractor’s invoices, alerting management of insurance expirations and late documents, and continual tracking of subcontractor’s progress in comparison to the estimate.
How Project Accounting Can Maximize Your Profits
If you are looking to increase your profit margins, you need help seeing the big picture. In addition to providing you with the typical accounting services, our custom construction accounting software will track where your resources are being used and how much they cost. This will help you, as a business owner or contractor, to have a better understanding about which materials are being wasted, work could be divided among workers better and calculate the geographic area for clients that will be financially beneficial. When the total amount of labor is determined, you will be able to know how many workers you can afford on each project in order to be both efficient and cost effective.
Additionally, our customized construction job costing program will enable you to provide clients with informed estimates based off of previous jobs. Typically, it is quite difficult to find ways to cut costs in a system with so many moving parts, but that is where Backoffice² can help. If there are any aspects of your business that cost too much, our project accounting team will be able to help you see the big picture, identify the problem areas and develop a solution to help you reduce overhead costs and maximize profits.
Cost Accounting Companies in Gainesville, FL
Though project accounting in Gainesville, FL, is able to streamline many difficult tasks for your projects at once, our system is very user friendly. At Backoffice², we provide our clients with software that is customized to your needs and the your business operations. Our team will be available to answer any questions you may have. If you are looking for quality Gainesville accounting for contractors, choose Backoffice². Call or email our office today to schedule an appointment and hear how we can increase the profits for your construction business.