Accounting for general contractors and remodelers.
Job costing, percentage-of-completion accounting, retainage, and progress invoicing for Denver-area GCs running custom builds, remodels, and commercial fit-outs.
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General contracting is one of the trickiest small-business categories to get accounting right. Long jobs cross fiscal periods. Cash flow leads or lags actual work performed by months. Retainage hangs out as a long-tail receivable. Subcontractors and material suppliers create lien risk if A/P management slips. Most GCs we meet have books that look fine on a bank statement and tell them nothing about which jobs are actually making money.
We rebuild GC books around the real unit of analysis: the job. Every dollar of revenue, material, labor, and overhead gets coded to a job. The result is a P&L per project and a portfolio view across the company.
What we handle for general contractors
- Percentage-of-completion accounting — recognize revenue as work is performed, not when invoices are sent.
- Job costing with materials, labor, subs, equipment, and overhead allocated per job.
- Retainage tracking on both accounts receivable (held back from you) and accounts payable (held back from subs).
- Progress invoicing & AIA billing (G702/G703) for clients that require it.
- WIP schedules — work in progress reports showing earned revenue, billed-to-date, and over/under-billings.
- Subcontractor 1099 prep with W-9, COI tracking, and lien-waiver documentation.
- Quarterly tax planning built around long-job revenue recognition timing.
Software we work in for general contracting
- QuickBooks Online + QuickBooks Time — for shops under ~$2M with simple jobs.
- Buildertrend — for residential remodelers and custom home builders.
- Knowify — strong AIA billing for commercial subcontractors.
- Procore — for larger commercial GCs ($5M+).
- CoConstruct — alternative to Buildertrend for smaller residential.
Pricing
| Shop size | Monthly fee |
|---|---|
| Owner-operator remodeler, 2–4 active jobs | $600 – $900 |
| Custom home builder, 6–12 active jobs | $1,200 – $2,200 |
| Commercial GC with WIP / AIA | $1,500 – $3,500 |
A custom home builder thought their two largest active jobs were on track. The WIP schedule we built showed they had over-billed Job A by $87K and under-billed Job B by $54K. Net effect: their bank balance looked healthier than the work justified. Fixing the billing schedule prevented a cash crunch when Job A wrapped up early.
If your jobs are under 60 days and under $50K, simple cash-basis accounting is fine.
If you have jobs that span more than one quarter, you need percentage-of-completion accounting or your P&L lies to you.
If you do commercial work with retainage, AIA billing, and progress payments, monthly bookkeeping with a WIP schedule is non-negotiable.
Job-level P&L. WIP schedule. Real margin per project.
Stop wondering which job is making money. Get a quote that fits your shop.
Frequently asked questions
Do you do AIA G702/G703 billing?
Yes. We prepare AIA pay applications directly from QuickBooks or Knowify for clients that require them, including the Schedule of Values and Continuation Sheet.
What is a WIP schedule and do I need one?
A WIP (Work in Progress) schedule shows earned revenue, billed-to-date, and the over/under-billings on each open job. If you have jobs spanning more than one month, the WIP schedule is what tells you whether your bank balance reflects real progress or just billing-ahead. Banks and bonding companies expect to see one.
How do you handle retainage?
Retainage is recorded as a contra-receivable on jobs where it applies and held back as a payable when you withhold from subs. We track the release schedule so you know when each held-back dollar is owed.
Can you handle bonding company audits?
Yes. Surety bond underwriters expect specific reports — WIP schedule, balance sheet, P&L, debt schedule, and aged A/R. We provide the package on a quarterly basis for bonded contractors.
What about lien waivers?
We track lien waivers as part of A/P management — every sub gets a conditional waiver attached to their pay app and an unconditional waiver after payment clears. Missing waivers are the #1 way GCs end up paying twice for the same work.