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Job costing per project, WIP overbilling and underbilling schedules, retainage tracking, subcontractor 1099 compliance, and a live dashboard. You know your true financial position on every job, not just your bank balance.
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Turnkey CFO is a bookkeeping firm in Austin, Texas built for general contractors. We handle job costing, WIP schedules, retainage tracking, subcontractor 1099 compliance, and live job-profitability dashboards — the financial infrastructure that lets you bid accurately, collect on time, and know your true job-level profitability before a job closes. We coordinate with your CPA on tax filings.
Construction accounting is its own discipline. WIP schedules, retainage receivable and payable, percentage-of-completion revenue, and subcontractor compliance are non-negotiable. Most bookkeepers haven't touched any of it, and the gaps show up when you're in the middle of a job.
Every job tracked from bid to final draw.
Accurate job cost allocation, overhead distribution, and percentage-of-completion revenue recognition. Full monthly close with P&L, balance sheet, and WIP schedule — so your books reflect what you've actually earned, not just what you've invoiced. See all services
Every project tracked from contract to close — materials, direct labor, subcontract costs, and overhead allocated per job. Monthly WIP schedule identifies overbillings and underbillings so you know your true earned revenue position and can catch margin erosion before the job finishes.
Retainage receivable (what your clients withhold from you) and retainage payable (what you withhold from subs) tracked in separate accounts. Never mixed into general AR/AP — so your cash collection metrics stay accurate and your subs get paid correctly at project close against lien waiver receipt.
W-9 collected from every sub before the first payment. Payments tracked against the $600 threshold and aggregated across every job. 1099-NEC prepared and filed by January 31 — even for subs brought on mid-job or paid across multiple projects.
Weekly or bi-weekly payroll for superintendents, project managers, laborers, and office staff — correct workers' comp classification per trade, certified payroll support if you work prevailing-wage jobs, and quarterly 941 reconciliation.
Supplier invoices, subcontractor draws, and vendor payments tracked and paid on schedule — so your AP is always current, lien waivers are documented, and your books close on time every month.
Job-level P&L, WIP position, retainage summary, outstanding receivables, and cash flow forecast — updated monthly so you make bidding and staffing decisions with real data, not gut feel.
Surety bonds require clean, current construction financials — WIP schedule, working capital, backlog, and job-level profitability, not just a P&L. We keep books in the format sureties and lenders expect so shortcuts never disqualify you from bond capacity when you need it. Years behind? We do catch-up bookkeeping too.
A dashboard that shows job-level P&L, WIP position, and retainage — updated monthly, not a PDF you have to decode. Make bidding and staffing calls with real data.
"Phenomenal working with Turnkey CFO — our finances have never been clearer."
Job costing, WIP, and retainage finally tracked the way a contractor actually runs work.
We learn your business — active job count, sub mix, billing method, current software, and where the books are breaking down.
We connect to QuickBooks, clean historical data, and set up job costing, WIP schedules, and retainage tracking around your project types.
Monthly close with WIP schedule, job profitability dashboard, retainage summary, and subcontractor compliance workflows running clean — every month.
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