Closing the Year-End Books in a Construction Company: A Detailed Guide to Preparing Accurate Financials for Your Business Tax Return
The year-end close for a construction company is more complex than for most other industries. Unlike standard businesses that record revenue at the point of sale, construction firms must navigate percentage-of-completion accounting, retainage, job costing, subcontractor compliance, multi-state tax exposure, bonding and WIP reporting, and equipment-heavy operations. Because of these unique challenges, closing the books in the construction industry requires a disciplined, multi