CPA-led accounting and tax for general contractors and subcontractors — built around jobs, change orders and your WIP schedule, not just a monthly P&L.
Providence Consulting CPA, PLLC provides accounting and tax for general contractors and subcontractors (including electrical, HVAC, plumbing and roofing contractors) with roughly $1M–$50M in revenue in Charlotte, NC and remotely nationwide. We handle job costing, change orders, monthly WIP schedules and over/under billings, retainage, bonding- and NCLBGC-ready financials, fixed assets, North Carolina sales and use tax, subcontractor 1099s and S-corp tax returns. Audits, reviews and compilations are coordinated through partner firms. Monthly accounting starts at $295/month (Bookkeeping), $745/month (Outsourced Controller) and $1,250/month (Fractional CFO & Advisory Services); your final fee is scoped after a fit call.
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A work-in-progress (WIP) schedule lists each open job with its contract value (including approved change orders), costs to date, estimated costs to complete, percent complete, revenue earned and amount billed. The difference between revenue earned and amount billed is the job’s over-billing or under-billing.
Sureties and lenders commonly review the WIP schedule because it shows whether jobs are tracking to their estimated margins and whether billing is ahead of or behind the work. Over-billings mean cash has been collected ahead of the work; under-billings can point to billing delays or costs running ahead of the estimate.
Each month we close the books, update job costs, collect estimates to complete from you or your project managers, and prepare the WIP schedule. We then reconcile over- and under-billings to the balance sheet so your financial statements and WIP agree.
Send us your latest WIP schedule and we’ll review it with you on a fit call.
Change orders change both sides of a job: the contract value and the estimated cost. When they are not tracked, job margins and the WIP schedule drift away from reality and billable work can be missed. We help you:
Retainage can tie up a meaningful share of a contractor’s cash until a job is complete. We track it on both sides, by job:
Sureties, lenders and the North Carolina Licensing Board for General Contractors (NCLBGC) can all ask for financial statements. What they require varies by surety, lender and license limitation, so confirm current requirements with them. We help you be ready:
About audits, reviews and compilations: Providence Consulting CPA does not perform attest work itself. When audited, reviewed or compiled financial statements are required, we coordinate that work through our partner firms and prepare your books and schedules for it.
We set up and maintain job costing so labor, materials, subcontractors and equipment costs are tracked by job, giving you job-level margins you can act on instead of a single company-wide number.
Which revenue method applies depends on factors such as your gross receipts, contract length and what your surety or lender requires, and tax and book methods can differ. We review your facts and explain the options and tradeoffs.
We keep trucks, equipment and other fixed assets on a schedule and coordinate depreciation choices for tax with your cash flow and bonding picture.
Contractors in North Carolina can owe sales or use tax on materials they purchase for jobs. We help you track those purchases and keep North Carolina sales and use tax filings current.
We help track payments to subcontractors, collect W-9s during the year and prepare the 1099s you are required to file.
Many contractors operate as S-corporations. We prepare Form 1120-S and K-1s, and plan owner reasonable salary vs distributions, estimated payments and year-end timing with your job results in view.
Most contractors start with one of our monthly accounting tiers: Bookkeeping (from $295/month), Outsourced Controller (from $745/month) or Fractional CFO & Advisory Services (from $1,250/month). We recommend a tier for your job costing, WIP and close needs on the fit call, and your scope and fee are confirmed then. Year-end returns are handled through our business tax service, and catch-up bookkeeping is available if your books are behind.
A work-in-progress (WIP) schedule lists each open job with its contract value, costs to date, estimated costs to complete, percent complete, revenue earned and amount billed. Sureties and lenders commonly ask for it because it shows whether jobs are tracking to their estimated margins and whether billing is ahead of or behind the work.
Yes. We can prepare and update your WIP schedule each month as part of the monthly close, using your job cost records and the estimates to complete that you and your project managers provide.
Over-billings (billings in excess of costs and estimated earnings) are generally shown as a liability, and under-billings (costs and estimated earnings in excess of billings) as an asset, on the balance sheet. We reconcile them to the WIP schedule each month so your statements and your WIP tell the same story.
We track approved and pending change orders by job, update the contract value and estimated costs when changes are approved, and make sure the related costs and billings flow into your job cost reports and WIP schedule.
We track retainage receivable from owners and general contractors, and retainage payable to your subcontractors, by job, so it is reflected correctly on your balance sheet, your WIP schedule and your cash planning.
We can help keep your books, job costing and WIP schedule current and organized so your financial statements are ready when you apply to or renew with the North Carolina Licensing Board for General Contractors (NCLBGC), or when your surety reviews your company. Requirements vary by license limitation and surety, so confirm the current requirements with the NCLBGC and your bonding agent.
We do not perform attest work ourselves. When your surety, lender or the NCLBGC requires audited, reviewed or compiled financial statements, we coordinate that work through our partner firms and prepare your books and schedules for it.
It depends on factors such as your average annual gross receipts, contract length, the type of contracts and what your surety or lender requires. Tax and financial-statement methods can differ. We review your facts and explain the options; the right answer is specific to your business.
Yes. We work with general contractors and with subcontractors and specialty trades such as electrical, HVAC, plumbing and roofing contractors.
Yes. As part of our accounting work we can help track payments to subcontractors, collect W-9s and prepare the 1099 forms you are required to file.
Send us your latest WIP schedule or a recent job cost report, and we’ll review it with you on a fit call.
Request a fit call