Accounting operations & monthly close
Defined accounting responsibilities, account reconciliations, close management, management reporting, and controller-level review.
Client Accounting Services
Construction
Accounting and tax support built around jobs, WIP, and contractor reporting.
We help privately held contractors strengthen the monthly close, job-cost and WIP reporting, business-tax planning, and preparation for surety or lender requirements.
When this relationship may fit
Built for established contractors with recurring financial complexity.
This service is designed for established privately held contractors seeking an ongoing accounting and business-tax relationship or focused preparation for an external requirement.
Fit depends on project complexity, recurring reporting and tax needs, and the capacity of the company's accounting team rather than revenue alone.
Often a strong fit when
- Multiple projects are active at the same time.
- Change orders, retainage, and billing timing complicate the monthly close.
- Job-cost records and the general ledger do not consistently agree.
- Management needs clearer WIP, underbilling, overbilling, or job-margin reporting.
- A surety or lender expects recurring financial information and supporting schedules.
- The accounting team needs controller-level oversight or additional preparation capacity.
How we can support the financial function
Connect the close, job reporting, business tax, and external requirements.
Each engagement is shaped around the contractor's current team, systems, reporting needs, external requirements, and timing.
WIP & job-cost reporting
Support for job-cost reconciliation, contract billings, change orders, retainage, WIP schedules, underbillings, overbillings, and job-level margin reporting.
Client Accounting ServicesBusiness tax planning & compliance
Tax analysis related to long-term contracts, equipment, entity structure, and work across state lines, based on the company's facts and applicable law.
Business TaxExternal-audit readiness
Organization of accounting records, schedules, documentation, and responsibilities when a surety or lender requires an external financial-statement audit performed by a separate CPA firm.
Audit Readiness
How the engagement begins
Start with the jobs, reporting process, and outside requirements.
Understand the business
Review the type of contracting work, active-job profile, accounting team, systems, reporting schedule, tax considerations, and known surety or lender requests.
Assess the current process
Examine how job costs, billings, change orders, retainage, WIP, account reconciliations, and management reporting currently come together.
Define responsibilities and timing
Agree on a written scope, division of responsibilities, deliverables, reporting schedule, transition needs, and fee.
Perform and review the agreed work
Complete the accounting, reporting, tax, or readiness responsibilities included in scope and coordinate with management and other advisers where appropriate.
Illustrative engagement
Growth has added more jobs than the accounting process can comfortably support.
A growing specialty contractor is managing more overlapping projects, but the monthly close, job-cost records, change orders, retainage, and WIP schedule do not consistently reconcile. A possible engagement could combine close management, account and job-cost reconciliation, WIP reporting, controller-level review, and periodic business-tax planning. If a surety or lender requires a report from another CPA firm, the readiness scope could also organize the supporting records and schedules for that separate firm.
Professional accountability
Professional work with clear responsibility.
Established in 2005, John W. Halloran CPA, P.C. is a licensed New York CPA firm serving privately held companies across Long Island and the New York metropolitan area.
Managing-partner supervision
John W. Halloran, CPA founded the firm in 2005 and supervises all professional work.
Management responsibility
Company management remains responsible for accounting records, financial information, approvals, internal controls, and business decisions. Sureties and lenders determine their own requirements.
Separate external responsibility
We can prepare management reporting, WIP schedules, supporting records, and readiness materials. If an external financial-statement audit is required, a separate CPA firm performs and issues it.
Before we begin
Can you work with our current bookkeeper and accounting system?
Yes. We begin by reviewing the current team, responsibilities, systems, and reporting process. We can add close management, WIP support, reporting, or controller-level oversight without automatically replacing the people or platform already in place.
Can you help us improve our WIP and job-cost reporting?
A scope may include reconciliation of job-cost information to the accounting records, review of billings, change orders and retainage, preparation of WIP schedules, and management reporting on underbillings, overbillings, and job margins.
What if our surety or lender requires an external financial-statement audit?
We can organize the accounting records, schedules, documentation, and company responsibilities needed for the requirement. A separate CPA firm performs and issues the external audit.
What construction-related tax matters can you address?
Depending on the company's facts and applicable law, the scope may include long-term-contract tax considerations, equipment-related planning, entity questions, and filing obligations arising from work across state lines.
Is this an ongoing relationship or a focused project?
Client Accounting Services and Business Tax are generally structured as ongoing relationships. An external-audit readiness need may be scoped as a focused project or coordinated with recurring accounting work.
How is the engagement scoped and priced?
We consider the company's project volume, accounting systems, current team, reporting needs, tax complexity, external requirements, and timing. We then provide a written proposal describing responsibilities, deliverables, schedule, and fees.
Tell us what is changing in your construction business.
Share the type of work you perform, current accounting and WIP process, surety or lender requirements, and timing. We review each inquiry and generally respond within one business day with the appropriate next step.
Tell Us About Your Business