DOT Contract Assistance in Jacksonville
Subcontracting presents your construction businesses with opportunities that may be otherwise unattainable due to limited resources, capital, staffing, or experience. James and Harris CPAs, PA works closely with your business when you seek direct contracts or subcontracts from the Department of Transportation (DOT). We help ensure that you get an equitable opportunity to participate in the DOT's direct procurement programs by streamlining your books to showcase your financial muscles.
If you're looking to win DOT contracts in Jacksonville, we're the team you can trust to get your financial records in order and help you present the best case possible. Give our construction CPA firm a call today and schedule your initial consultation.
Dependable Jacksonville DOT Contract Assistance
It's no secret that the construction industry has complex tracking and reporting requirements, especially in terms of revenue recognition and tax changes. The rules often vary by state and county, which makes it extremely challenging to keep track of job costs and financial analysis precisely. That's why James and Harris CPAs, PA provides construction business consulting services to help bridge these gaps for your construction firm.
If you want to do business with the state of Florida, we can help you administer contracts, register with the DOT, and prepare the required accounting reports to provide evidence of your business' financial wellbeing. Typically, your balance sheet needs to show certain equity. Additionally, we'll educate you about the DOT requirements and help you meet their guidelines, such as providing evidence of financial ability. Our CPAs work out your ratios in balance sheets and help determine your equity vs. debt, so you know which contracts you can qualify for.
Our experts at James and Harris CPAs, PA are always proactive and make sure you're prepared to bid on a contract when there is a job open. Once you make a bid, the state will evaluate your submission and award or decline the contract. If you don't qualify this time around, our Jacksonville construction CPAs will help you plan for the future by developing actionable steps you can follow to strengthen your position.
Why You Need a Construction-Specific CPA
James and Harris CPAs, PA, offers tailored accounting services designed specifically for construction businesses in Florida. Our certified public accountants have a deep understanding of how construction businesses work and handle job costing. However, we do much more beyond helping your company prepare financial statements and file state, federal, and local tax returns.
Our CPAs also understand the specific operational concerns construction businesses face on a day-to-day basis. We can help you streamline your reporting processes by compiling data for percent complete and work-in-progress (WIP) reports, along with handling risk management and cost controls.
Additionally, our team can help you tailor your job cost structure and aid in implementing systems such as accounting software solutions or ERP packages. Beyond that, we can act as a liaison between your firm and other industry professionals such as banks and bonding agents.
Reliable Construction Business Accounting Services in Jacksonville
We offer more than just tax planning and high-level bookkeeping. We're knowledgeable in the requirements and best practices that make construction businesses healthy and profitable, including those everyday improvements that can help you gain a competitive advantage.
Our construction-specific CPAs can help you become more precise in your cost accounting. Small mistakes in reporting for your construction business can, over time, hurt your company. For example, if you fail to measure your overhead allocations accurately, you won't get a clear picture of the actual cost of each project, resulting in underestimates and failure to cover the costs.
Our Jacksonville CPAs understand the construction business in and out, helping you determine what to allocate and how to do it correctly. In the construction industry, no one size fits all, and no one approach fits every situation. For instance, a labor-intensive contractor could choose to allocate costs based on labor and burden costs or field hours. However, an excavator might allocate costs based on equipment hours. It all depends on what's in your company's best interests, and our CPAs help you make those calls.
We can also review your books and offer advice on your future financial decisions based on:
Overall, having our experienced expert keep track of your financial health is vital in a complex industry like construction, where accurate budgeting is essential to making better bids and winning jobs.
Exceptional Jacksonville Construction CPAs for Contractors
James and Harris CPAs, PA is a trusted construction business accounting team in Florida. We know what it takes to keep your construction businesses profitable. Our skilled CPAs are ready to help you manage your accounting and bookkeeping and provide DOT contract assistance.
If you're looking to bid on DOT contracts to build roads, bridges, sidewalks, underground utilities, and other infrastructure projects, let our team put you in the best position possible. Contact us today to schedule your consultation with our Jacksonville construction CPAs.