Who does bookkeeping for contractors in Salt Lake City?
Several bookkeeping firms serve contractors in the Salt Lake City metro area. The more important question is whether they actually understand construction accounting. A bookkeeper who works with retail stores or professional services firms won’t necessarily know how to track costs by job, handle retention, or manage progress billing.
Contractor bookkeeping differs from standard small business bookkeeping. You need someone who can set up proper job costing so you see profitability on each project rather than just your overall monthly numbers. You need someone who understands work in progress accounting if you’re handling larger jobs spanning multiple months. You need someone familiar with how general contractors handle subcontractor invoices, change orders, and the payment flows common in construction.
When evaluating bookkeepers, ask if they have experience working with contractors. Ask how many construction clients they currently serve. Ask whether they know how to set up QuickBooks or your accounting software to track costs by phase and cost code. The answers will tell you quickly whether they understand your business or whether they’ll just categorize transactions without giving you information you can actually use.
General bookkeepers often create financial statements that are technically accurate but operationally useless for a contractor. You end up with a profit and loss statement showing total revenue and total expenses, but no visibility into which jobs made money and which ones lost money. That’s the difference between bookkeeping and bookkeeping that actually helps you run your business.
TRUEquity Bookkeeping serves contractors throughout the Wasatch Front, from Provo to Salt Lake City. Founded by Helaman Cabrera, who spent years in construction before moving into accounting, the firm specializes in helping contractors see exactly where their money goes. If you’re looking for a bookkeeper in American Fork who understands construction, we work with general contractors, tradespeople, and specialty contractors across Utah County and Salt Lake County.
The Utah construction market stays busy. Contractors who don’t know their job-level costs often bid too low on projects without realizing it until the job is done. The right bookkeeper helps you avoid that by tracking every expense against the project where it belongs and giving you reports that show true profitability.
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More Questions
How do I handle retainage in my bookkeeping?
Track retainage separately from regular receivables using a dedicated retainage receivable account. Record the full revenue when you bill but split the receivable between what you can collect now and what's being held back.
Read answerHow do I track materials and supplies by job?
Tag every material purchase to a specific job at the time of purchase. Write the job name on receipts, set up job references with suppliers, and enter expenses in your accounting software with job assignments. This gives you accurate job costs instead of guesswork.
Read answerWhat bookkeeping challenges do HVAC companies face?
HVAC companies struggle with tracking profitability across different work types, managing parts inventory, capturing costs from technicians in the field, and handling seasonal cash flow swings. Job costing is essential but rarely set up correctly.
Read answerHow do I account for equipment depreciation in construction?
Equipment depreciation spreads asset costs over their useful life using methods like MACRS or Section 179. For contractors, proper depreciation tracking affects both tax deductions and job costing accuracy.
Read answerWhy do contractors need specialized bookkeeping?
Standard bookkeeping tracks income and expenses but doesn't show which jobs actually made money. Contractors need job costing, progress billing tracking, and work-in-progress accounting that generic bookkeepers rarely understand.
Read answerIs there a construction accountant near American Fork?
Yes. TRUEquity Bookkeeping is based in American Fork and serves contractors throughout the Wasatch Front. The firm specializes in construction accounting and job costing for contractors and tradespeople.
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