Top CPA Serving the Tri-State Area Since 1983

Construction Accountants in Horsham

The construction industry has some of the most complex financial and legal issues to manage. That’s why it is important for any contractor or developer to consult with a team of experienced professionals. At SD Associates, P.C., we offer a comprehensive suite of accounting services that can help you maximize profits and minimize risks. Our Horsham construction accountants will work closely with you to develop a customized strategy that meets your specific needs.

We offer services such as accounting audits, financial statement preparation, and tax planning for local construction companies. We will help you manage the complexities of various construction industry regulations, allowing you to focus on what matters most – growing your business. In addition, our staff is highly experienced in areas such as construction bonds, liens and subcontractor agreements. We understand the importance of meeting deadlines and staying on budget, so you can trust us to keep your projects running smoothly.

Construction Accounting vs. Standard Accounting

Although accounting is crucial for all organizations, construction companies have unique accounting necessities that differ from other businesses. For construction companies to thrive, it is imperative to have access to specialized construction accounting services and resources.

Long-Term Production Cycles

Construction projects usually last for weeks, months, or even years, and construction companies may face difficulties in managing their finances if they lack a steady stream of income. This is where our construction accountants in Horsham come in to offer expertise on the long-term production cycles of the construction industry. We have the knowledge and experience to manage spending and budget effectively, enabling our clients to remain financially stable throughout extended projects.

Tracking Multiple Jobs

Many construction businesses handle multiple projects concurrently, necessitating the need for construction accountants to ensure the successful completion of each project. At SD Associates, P.C., we can assist our clients in adhering to their schedules and budgets by providing essential financial insights into their various projects. Our expertise lies in tracking project costs, labor expenses, material costs, overhead expenses, and other related aspects to ensure that all expenses are accounted for.

Variety of Services

Construction businesses provide a wide range of services, from contracting to subcontracting, and require a thorough understanding of how each service is taxed. SD Associates, P.C. are experienced in all construction services and can provide tax advice accordingly. To meet all customer needs, we also provide payroll processing, accounts payable/receivable tracking, job-cost analysis, financial reporting, and more.

COGS vs. Overhead

Distinguishing between COGS (cost of goods sold) and overhead costs is a crucial aspect of construction accounting. COGS represents the direct expenses incurred in producing a product or service, while overhead costs refer to indirect expenses such as rent, utilities, and other fixed costs. At SD Associates, P.C., we assist our clients in organizing these two categories to avoid any confusion in their financial statements. This can aid businesses in comprehending their genuine production costs and optimizing profits by effectively managing their expenses.

Why Work With a Construction Accountant

Engaging the services of a qualified and proficient construction accountant is crucial for any construction company, as they can offer specialized services to enhance the financial operations of your business. Collaborating with a construction accountant in Horsham provides you with valuable expertise, resources, and tools that are customized to cater to the unique requirements of your industry.

With our team at SD Associates, P.C., clients are assured of professional and accurate management of all financial aspects, including payroll, taxes, budgeting, and cash flow management. Engaging a construction accountant can offer valuable insights into the financial performance of a business, enabling informed decision-making and maximizing profits.

Construction Accounting FAQs

What is construction accounting?

Construction accounting is the practice of tracking, recording and managing financial information related to the construction industry. It encompasses a wide range of activities, such as estimating costs for materials and labor, producing payment applications and invoices, managing payrolls and tracking job progress. At SD Associates, P.C., our goal is to provide timely and accurate accounting services that help your construction company thrive.

What is the importance of construction accounting?

Construction accounting is critical for ensuring that a construction business runs smoothly, efficiently, and profitably. Construction accounting tracks costs and profitability throughout the project lifecycle, allowing for better decision-making; it helps manage cash flow more effectively; it provides essential reporting to management; and it ensures compliance with tax laws and regulations.

How does working with subcontractors affect my finances?

Working with subcontractors can be a great way to save time and money, but it can also have an impact on your finances. It is important to understand the financial obligations that come with subcontracting, such as filing proper paperwork and paying taxes on any payments made to subcontractors. Working with SD Associates, P.C., our team of knowledgeable professionals will ensure that you remain in compliance with tax laws and regulations while managing your construction finances.

Do construction companies have to use GAAP?

Generally accepted accounting principles (GAAP) are the regulations companies in the United States must use to report their financial information. At SD Associates, P.C., our staff is knowledgeable in all aspects of accounting, including GAAP regulations and how they apply to your construction business.

Why should I choose SD Associates, P.C.?

SD Associates, P.C. has over 35 years of experience in the construction accounting industry. We provide comprehensive services tailored to each client’s unique needs, including financial statement preparation, tax compliance and planning, accounts payable management, cash flow analysis and more. Our team of dedicated professionals is committed to providing accurate and timely service with a personal touch.

Contact Our Construction Accountants in Horsham Today

At SD Associates, P.C., we are committed to delivering exceptional accounting and consulting services to professionals in the construction sector. Our construction accountants in Horsham offer a comprehensive selection of services intended to assist contractors in optimizing their profitability. We offer personalized services that keep you up-to-date with industry trends while effectively managing your finances. To schedule your consultation, contact us today at (215) 517-5600.