Frazier Gills has developed a division to address the needs of the Construction and related industries. We understand the unique recordkeeping, bidding, billing and compliance requirements for major and small projects. We can assist in:
Construction Accounting Services
- Review accounting software and financial accounting process for adequacy in providing accurate job cost accounting and financial statements. Make recommendations for conversion to construction related packages or changes to current reporting methodologies.
- Prepare or assist in preparation of financial statements. Service levels may include compilations or reviews of financial statements.
- Train in evaluating industry specific benchmarks and utilizing to evaluate performance. Assist in understanding how sureties utilize benchmarks in evaluating bond applications.
- Develop job cost reports that provide current job status, budget vs. actual comparisons, and comparison to benchmarks. Develop strategies to achieve budgets and benchmarks.
- Develop accounting and operating procedures to ensure continuity of services.
- Provide payroll services.
- Prepare federal and state tax returns.
- Assist with OCIP and other specialized reporting.
- Provided outsourced accounting support from accountant to Controller level.
- Provide Certification support services.
Bond application support
- Preparation of Personal or Business financial statements.
- Preparation of Work in Progress and Completed Contract reports which are essential elements for bond applications and are required monthly reporting.
- Assist in developing and updating accurate job cost estimates and preparing Contractor’s Estimate of Cost of the Job.
- Assist in obtaining or preparing additional documentation required to complete financial packages.
- Develop strategies to assist “denied” bond applicants so that success is achieved in subsequent application.
- Assist with applying for alternative financing sources, secured financing or loans from others.
Project Management Services
We will assist in developing Policies and Procedures that address:
- Evaluation of which bids or RFPs to pursue.
- Developing job estimates and project bids.
- Evaluation of projects won and projects lost.
- Developing and evaluating job budgets.
- Developing standardized job management procedures, including monitoring of job cost and progress on a daily basis.
- Evaluating projects based on industry benchmarks and local market.
- Managing and preparing change orders and directives.
- Managing cash flows and proper use of Lines of Credit.
- Contract management including “knowing the contract and scope of work.”
- Closing the job.
These services can be provided offsite, onsite or via a secured VPN (Virtual Private Network) connections with your office. The VPN allows a secure, confidential access portal for connection to your site for data processing to eliminate duplication of data entry and to provide simultaneous access to financial records.