Construction CFO Services
Fractional CFO and Controller Services for Bonded Contractors
Most contractors outgrow a bookkeeper long before they can justify a full-time CFO. We fill that gap. We run your accounting, close your books every month, and act as your CFO, so you know which jobs make money, how much bonding capacity you can support, and where your cash is going.
Because our CFO and tax services work together, your year-end numbers flow straight into your tax return and your surety package, with no scramble and no surprises.
CFO Insight That Helps Contractors Grow
Our CFO services help contractors stay financially healthy and make smarter decisions. Accurate, job-level financials show you where money is coming from, where it is going, and which jobs need attention. Timely financial statements help you catch issues early, avoid cash shortages, and understand your true profitability. With a clear picture of your numbers, you can plan ahead, budget with confidence, and support a larger bond program and bank line. When taxes are handled with the same system, you avoid costly mistakes and reduce your overall tax burden. In short, we give contractors the structure, clarity, and financial control needed to grow with confidence.
Our CFO services include:
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Monthly close and reconciliations (bank, credit card, and loan)
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Monthly financial statements built on percentage-of-completion
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Job costing and WIP schedule with over and under billings
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Gross profit analysis by job
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Cash flow forecasting and budgeting
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Accounts payable, accounts receivable, and retainage oversight
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Payroll coordination and sales tax filings
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Surety and bank relationship support, including year-end packages for your CPA
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Tax preparation, ongoing tax planning, and 1099 filing
WHAT WE OFFER
We are the outsourced CFO and controller for bonded commercial contractors, with tax preparation and planning built in. We manage your month-end close, financial statements, job costing, WIP schedule, cash flow tracking, and year-round tax work, so you always know how your business and each job are performing.
Working with us is simple. We begin by understanding how your company operates, how you bid and track jobs, and what your surety and bank expect. From there, we build a process that fits your workflow and keeps your financials accurate and surety-ready every month.
If you want reliable financials, a stronger bond program, fewer tax-season surprises, and a partner who helps you stay ahead of your numbers, we can help you get there. Let us know when you would like to talk.
FINANCIAL ACCOUNTING & REPORTING
For most contractors, financial reporting starts at the job level. Each job’s financial status directly impacts the contractor’s overall financial statements. We have the expertise to design and implement the project level reporting processes and controls to keep you informed of each job’s progress and where it is headed. Let us design executive level reports to give contractors insight into how their company is performing.
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Gross profit by job
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Cash flow by job
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Over/ under billing by job
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Backlog schedule
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Percentage completion / work in process
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Backlog forecast
CASH MANAGEMENT
Cash flow is what every business needs to survive and thrive. Cash management is at the heart of a company’s overall effort to increase profitability. For many businesses, the key to success is the management of the company’s cash flow. Unique aspects of the construction industry make it challenging to manage cash. Construction is cyclical and project based. Most contractors have to contend with retainage payments and wait long periods to receive payment, while they are paying certain project costs, payroll and overhead expenses up front. The multiple relationships between owner, contractor and subcontractor also tend to complicate the cash management process. The most successful contractors know where their cash is on a daily basis and are focused on the cash flow cycle.
SURETY ADVISORY SERVICES
We can assist your company with its surety company relationship. Surety credit is the lifeblood of contractors. Surety companies want to know they are extending credit to contractors with a track record of completing successful projects. They also expect to be provided with quality financial information and internal management reports on a timely basis. Work in process schedules, cash flow and financial forecasts are an important part of every bonding meeting. Payless Taxes can assist with the preparation of financial statements, forecasts and the necessary internal reports so you can obtain the greatest amount of credit available. We will help you manage your balance sheet so your surety company will extend the maximum support it can to your company.