Run a Successful Business & Raise Your Profitability to 10%

Solution Overview: What Type Of Accounting Do Construction Companies Use?

Certified Luxury Builders’ accounting and finance team can help you increase productivity, raise profitability, and stay compliant.

Our unique approach is builder-centric, by and for builders. Owners, contractors, and subcontractors face unique accounting challenges that can hinder profitability and more often that not leave them asking - how do construction companies keep books? What is the most popular construction accounting software? What should I look for in construction accounting software? When you have the right team, processes and systems tracking, reviewing, and communicating what you need to know about your numbers, you can focus on the activity you’re passionate about.

Problem

Underpinning the growth and profit of Luxury Builders and Remodelers is effective planning, processes, accounting, financial analysis, reporting, budgeting, data analysis, and benchmarking. CLB clients are highly sensitive to shifts in their balance sheet and cash flow. Their ability to monitor financial performance in near real-time and plan ahead is crucial. Many builders fail to have the right resources, personnel, systems, and processes to make these activities strengths and they continue to struggle with the challenges.

Solution

At its core, CLB finance is a solution built for builders by builders. It is an easy-to-use but powerful cloud solution. CLB provides a growing family of connected solutions to help:

• Manage inconsistent cash flow
  
• Know your cash position
• Generate timely financial statements that accurately reflect the work being performed
• Convert operational performance into meaningful financial reports
• Collaborate with your finance, accounting, bookkeeping, and other team members
  
• Quickly get change orders priced, approved, and billed
  
• Work through the draw request process
  
• Accurately evaluate operational efficiency
  
• Establish competitive price while maintaining profitability
  
• Enable accounting to be available anywhere, anytime, and on mobile devices
  
• Enable accountant tools for field and office intake, management reporting, and final accounts production
  
• Run your business on the go
  
• Gain control of your financials
  
• Get paid faster
  
• Reconcile in seconds
  

Our solution has multi-layer security, encrypted data and always backed up to give you the protection and confidence you need.

With CLB Finance, you don’t have to worry about your accounting and finance activities:

• Outsourced accounting
  
• Financial analysis and reporting
  
• Budgeting, planning and benchmarking
  
• Data analytics
  
• Business process improvement
  
• Valuation
  
• Strategic analysis

Accounting and Bookkeeping: Scope of Work

Professional, scalable, worry-free accounting.

Services Delivered

Monthly Accounting and Bookkeeping For Construction Companies

Timely. Accurate. Relevant.

What if you had great numbers that you had confidence in, that you could act upon to make your business better? That you could use to help your team work better? What if you had a team of accounting and finance pros who had you covered from paying your bills to making sure your books were properly closed out in a timely fashion in a predictable time after every month?

Stop wasting time and worrying. Start focusing on running your business better!

CLB Finance offerings consists of teams of finance and accounting professionals at all levels who are passionate about the businesses of our clients.

Our employees form teams of professionals capable of providing services normally associated with Chief Financial Officers, Controllers, Financial Analysts, Accountants, and Accounting Specialists. CLB Finance brings the concept of “timeshare” and “team” to each company according to its need.

CLB Finance business model is based on the reality that a typical small or medium business has a need for some fraction of each of these resources but of course, cannot afford to hire one of each. CLB has pioneered an approach that provides a total solution, complete with a team of specialists armed with specialty business processes and tools for a price that is affordable to small and medium-sized businesses.

CLB Finance delivers results that you may not think are possible. Dare to dream about having timely, relevant and accurate information focused on how you make decisions. Imagine having a truly integrated view of your business focusing on the goals and potential that you define. Imagine having a world-class strategic and analytical business partner singularly focused on getting the most out of your business.

All for a price you can afford.

Plus and Premium Financial Reporting

Timely. Accurate. Relevant.

Our outsourced financial solution works exclusively with the building industry. We have experience helping companies like yours improve cash flow, reduce workload, apply best practices, and streamline processes. Ever wonder what happened to your cash? Looking at sales and expenses once a month only gets you so far. Cash gets tied up in things like accounts receivable and inventory. This powerful tool lets you walk all the way from your revenues to what ended up in your bank account—providing you a new level of insight into your business.

What if you had great reporting and analysis that you had confidence in, that you could act upon to make your business better? That you could use to help your team members work better?

What if you had great reporting and analysis that you had confidence in, that you could act upon to make your business better? That you could use to help your team members work better? What if you had someone who was analyzing your numbers, covering all the bases for you, watching for even the smallest changes like a hawk? What if you had an expert in your business who owned the numbers and could leverage our expertise to help you reach your goals?

Quickly and easily see the trends in your business that matter over time. Correlate activity and dates to the results to better plan and execute.

Do you know when and at what point your expenses flatten and your net profit accelerates? What if we increased your profitability to 10%? Is that achievable? What do I need to do to get there? We understand your profitability and cost structure. With CLB’s Insight Engine, you can leverage this knowledge to explore the potential for your business. You can evaluate various goals that are aggressive yet achievable-- and instantly understand the requirements to get there. Having a strategy to build assets and create value supports your legacy and selling your company one day.

Our Approach and Process

1. We start with an audit of your strengths and weaknesses.
   
2. We collect additional details, to assess your specific situation with a questionnaire.
   
3. We have a conversation where we listen and discuss changes and how they might impact your goals, problems, challenges, timeline, and budget. At the meeting, we share your estimate and timeline.
   
4. We have a confirmation meeting
   
5. After analysis, we make a recommendation for you to consider as an option. If we are in agreement, we provide a customized plan with specific tasks and deliverables so there is no guessing as to who, what, where, and when.
6. We sign-off on the plan and begin implementation together.
7. Upon completion of the implementation, we move to execution, managing, monitoring of normal daily, weekly, monthly tasks, reporting, and business.

Step 2 Client Intake Questionnaire

You already took the assessment and got your results. Let’s take the next step to see it this is the right fit and budget for you.

CLB would like answers to specifics questions to help us scope and size your solution. Please let us know if you have any questions.

1. What is your annual revenue?
   Standard – $3 to 5 million
   Plus – $5-10 Million
   Premium – Over $10 million
2. What is your projected revenue for the following year?
   
3. How many transactions per month
   Small – around 100
   Medium – around 250
   Large – over 300
   
4. How many Employees?
   Standard – less than 10
   Plus – less than 20
   Premium – over 20
   
5. Please send us your chart of accounts?
   
6. Please send us the following financial statements:
   Income Statement
   Balance Sheet
   Statement of Cash Flows
   
7. Do you have a company budget?
   Please send us your Company Budget?
   
8. Do you have a job budget?
   Please send us an example of a job budget?
9. Do you audit your jobs for profit and loss?
   Please send us an example of a Job Profitability Report?
   
10. What is your target margin on each of your jobs?
    
11. What is your gross profit %?
    
12. What is your net profit %?
    
13. Who Is Doing The Bookkeeping? (Check All That Apply)
    Me
    Family member
    Friend
    Employee
    Freelance Bookkeeper
    Bookkeeper Service
    Tax Accountant
14. What construction job costing software are you using?
    QuickBooks Desktop
    QuickBooks Online
    Other
15. Pain Points
    Job Costing
    Net Profit Analysis
    Quarterly Tax Returns
    Annual Tax Return
    Business / Personal Payroll
    QuickBooks Setup
    QuickBooks Cleanup
    Bookkeeping Services
    Financing
    Bank Draw
    Consulting
    Invoicing
    Estimating
    Systems
    Loans
    Lines Of Credit
    Catch Up Bookkeeping
    Reports
    Free up time to do less admin and more important things
    Other
    
16. What is the highest priority where you need help?

Additional Outsourced Services for Luxury Builders

Industry-specialized services

Assurance and tax services

Specialized advisory services