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Accounting for construction companies
Construction companies operate in a highly regulated and accounting-specific environment where accurately tracking expenses across different projects is crucial to ensuring profitability. Monitoring revenue and progress by project stage is equally important. The accounting must reflect the nuances of the construction process – from contract-based reporting and interim payment documentation to VAT application on advance and partial payments, and working with subcontractors and material suppliers. It’s also essential to comply with tax regulations regarding services and real estate transactions, and to maintain analytical reporting by construction site.
At ATP Konsult, we provide comprehensive support for managing your construction company’s financial processes – from bookkeeping and reporting to tax consulting — to ensure your business operates efficiently and in full compliance with legal requirements.
What makes accounting for construction companies different?
Cost tracking by project
- detailed monitoring of expenses related to specific construction sites or contracts
Accurate valuation of work in progress
- proper treatment of partially completed construction
Project cost calculation
- including labor, materials, and equipment costs
Accounting for construction service invoices
- correct application of VAT, tax credit recovery, and available reliefs
Project budget analysis
- comparing projected vs. actual costs to assess profitability
Tax treatment of investments in machinery and equipment
- depreciation, tax reliefs, and sector-specific benefits
Subcontractor and supplier expense tracking
- correct handling of advance and final payments
Construction supply and inventory management
- proper accounting of materials by site, warehouse stock control
Payroll for construction workers and specialists
— employment contract specifics, extra payments, and insurance contributions
Indirect costs for labor and materials
— allocation of shared expenses between multiple construction projects for better budgeting
Why do construction companies choose ATP Konsult for their accounting?
"The management team of REGAL BILD Ltd. trusted ATP Konsult to provide the subscription accounting and financial analysis service after careful research. The strong recommendations we received, their professionalism, their attitude towards our clients, and their extensive knowledge of finance - a fact that greatly facilitated our work together - were important in forming our decision. We are extremely pleased with their punctuality both in terms of deadlines and the quality of service we receive on a weekly basis. We have been impressed with the prompt responses to each of our queries. In the course of our work together, due to the complex nature of the financial and accounting field, we rely on their competent advice И recommendations. We are confident that their approach to clients would satisfy even the most demanding ones."
Contact us
Contact us for a personalized offer and consultation tailored to the specific needs of your construction business.
Atanas HristovManager of "REGAL Build" Ltd.