Bookkeeping and CFO Services for Las Vegas Contractors
Sunderland Valley Enterprises provides bookkeeping and fractional CFO services for contractors and construction companies in Las Vegas, Nevada. Construction bookkeeping tracks revenue and cost by job, so the owner knows which jobs make money while they are still in progress. Every client’s books are prepared by a former Chief Financial Officer.
Contractors face a cash problem most businesses do not. Labor and materials are paid weeks before a draw arrives, and retainage holds back part of every invoice. Books organized by job, with a cash forecast built around the draw schedule, keep work funded.
What construction bookkeeping includes
- Job costing. Revenue and costs are coded to each job, with labor, materials, subcontractors, and equipment shown separately.
- Progress billing and retainage tracking. Billed amounts, amounts held back, and amounts collected are recorded for every job.
- Account reconciliation. Bank, credit card, and loan accounts reconciled every month.
- Payroll recording by job. Wages and payroll taxes are allocated to the jobs where the hours were worked.
- Monthly financial statements. A Profit and Loss statement and Balance Sheet with a plain explanation.
Fractional CFO services for contractors
- Cash flow forecasts built around draw schedules and retainage
- Overhead rate calculation, so bids recover the true cost of running the company
- Estimate compared with actual cost on completed jobs, to improve future bids
- Financial statements prepared for lenders
- Backlog and margin reporting
- Planning for equipment purchases, hiring, and growth
Reports a contractor should see every month
| Report | What it shows |
|---|---|
| Job profitability report | Profit and margin on each job |
| Retainage receivable | Money earned and still held by customers |
| Receivables aging | Which invoices are overdue |
| Cash forecast | Cash expected over the next 13 weeks |
| Overhead as a percent of revenue | Whether fixed costs are in line with volume |
Talk with Jackie about your books
30 minutes, no cost, with Jackie directly.
Nevada matters for contractors
- Contractors with employees file the Modified Business Tax return each quarter once wages pass the state threshold.
- Nevada has no state income tax, and contractors still file federal returns and applicable sales and use tax returns.
Common problems we fix
- Job costs recorded in general expense accounts, so job profit is unknown
- Retainage missing from the books
- Revenue recorded when cash arrives, which distorts monthly results
- Owner and crew payroll not allocated to jobs
- Books that are months behind before a loan request
Common questions
Job costing is the practice of recording revenue and every cost by individual job, so a contractor can see the profit on each one.
Retainage is a portion of each progress payment, often 5 to 10 percent, that the customer holds until the project is complete.
Sunderland Valley Enterprises provides bookkeeping and fractional CFO services for contractors and construction companies in Las Vegas, Henderson, and North Las Vegas.
Yes. We work in QuickBooks Online and QuickBooks Desktop and set up job tracking within them.
Yes. We prepare current financial statements, job profitability reports, and projections for lender review.
Talk with Jackie about your books
30 minutes, no cost, and you will speak with Jackie directly.
Prefer to write? Send a message or call (702) 704-5816.