Construction Accounting Services
Whether you are laying the bricks or keeping the books, it's important to understand that construction accounting is different from regular accounting. Construction companies must monitor different categories of costs: travel time, mobilization costs, materials and even clearing the jobsite of excess materials, once the job is complete.
Construction companies use the percentage of completion method, where revenue is accounted for based on the estimated profit of a contract and what percentage of that profit has been completed. This makes it even more essential that construction companies utilize cost accounting methods that provide accurate tracking of expenses to accurately project profit ad loss.
Being able to track, report and categorize cost and other expenses in your construction business is important for understanding how to bid on projects, which projects are profitable for your business, how to bill clients accurately and fairly and how to make the most of your company's resources.
Improving your construction company accounting procedures starts with an understanding of different types of costs you can incur working on a project. Reid Enterprises has over 25 years of construction accounting experience. From Job Costs to Change Orders to Work in Process (WIP) reports, we have you covered.
Owner, Cathie Reid, has worked with major General Contractors in the DC area to include:
Whiting-Turner Contracting Company, Hitt Contracting, Turner Construction Company and Corenic Construction Group.
Some of the projects in which she was the Senior Project Accountant/Director of Accounting include:
Georgetown University Law Center & Library
Georgetown University Law Center - West Extension
Georgetown University Cancer Research Center
Virginia Tech Lane Stadium
Renaissance Hotel - Spartanburg, SC
George Mason University - Facility Renovations
BMW, Rolls Royce and Lamborghini Showrooms - Sterling VA
Watergate Fitness Center of Washington, DC
Department of General Services - DC Public Schools
Amazon Exterior Stairs and Platform - VA
Events DC Entertainment and Sports Arena
Non-Profit Accounting Services
Unlike companies that focus on making profits, nonprofit organizations focus achieving a mission - to contribute to local communities and society. This means you must have effective accounting principles and strategies to function.
Donors and grant funders have the right to set restrictions on the contributions they give to your organization. These restrictions mean you must make sure the donated funds are spent in a way they are approved.
Reid Enterprises is here to help your nonprofit organization ensure financial health and stability, control finances, which, in turn, enables organizational growth. Understanding the key aspects of nonprofit accounting will help your organization recognize your financial situation.
As the Grant Manager for the DC Primary Care Association and Providence Health Foundation, Ms. Reid, has worked on numerous nonprofit projects, to include:
DC Department of Health (DOH) - Community Health Worker Program
DOH - Chronic Care Initiative
DOH - Medical Homes DC
DOH - Capital IT Grant
DOL - Capital Health Careers - Job Creations
George Washington University - Cancer Patient Navigation
Unity Health Care - Anacostia
Community of Hope Medical Homes
Parkside Capital Project