If you want your company to thrive, it’s critical that your financials are in good order. As your business grows, make sure that you have a team of dedicated people, overseeing their shares of the operation. One vital part of this team should be an accountant, who can manage your bookkeeping and assist with taxes. There are thousands of good CPAs out there, so how do you find the one that is a good fit for your unique business?
Each industry has its own special rules and regulations, and different daily operations, so it’s always best to find an accountant that specializes in your field. Knowing that you are looking for a construction CPA can help to narrow down the options, and reaching out to a firm or two can make the decision easy.
You should feel heard and understood by your CPA, as they will become a valued member of your company team. In the construction industry, not only will your accountant run your books and taxes, but they should also be able to help with industry-specific needs. These may include work-in-progress (WIP) reports, overhead allocation, risk management, job estimates, and special insurance or worker’s compensation. A good CPA may also act as a vital contact between your growing business, and banks or loan lenders.
In essence, your accountant should be experienced working with construction companies, and should have a good sense of the industry as a whole. A qualified construction CPA will allow you to stay ahead of the game, and ensure that all is running smoothly, so you can continue to focus on making your customers happy.
Reach out to us at Steven J. Wick & Associates today, and ask about our experience with accounting in the construction industry!