Professional Accountants for Construction Companies – Partner With Pearl Lemon Accountants
Managing the finances of a construction business isn’t like managing any other company. With large, complex projects, ever-changing requirements, and industry-specific practices like retainage and special billing, standard accounting methods just don’t cut it.
That’s where Pearl Lemon Accountants comes in. We specialise in providing accounting solutions that address the unique challenges of the construction industry, helping you streamline your finances and maximise profitability.
Specialised Accounting for Construction Companies
At Pearl Lemon Accountants, we understand that construction businesses are unlike any other. Managing the costs and profits of large, individual projects requires a unique approach—one that focuses on project-based accounting rather than traditional product lines.
Our team of experts specialises in handling the industry-specific challenges of construction accounting, including:
- Retainage Management: Ensuring accurate tracking and compliance with retainage practices.
- Special Billing and Revenue Recognition: Navigating complex billing structures and ensuring revenue is recognised correctly.
- Change Order Tracking: Keeping your financial records up to date with every project adjustment.
Construction accounting is complex and demands precision—skills that only seasoned professionals like ours can deliver. When you outsource to Pearl Lemon Accountants, you’re choosing a team that understands your business and is dedicated to maximising your profitability.
Effortless Financial Management for Construction Companies
Accounting may give you valuable information about your project, which you can use to make more informed choices.
It provides a comprehensive picture of the company’s activities, finances, and investments.
Running a construction business comes with unique challenges—rising costs, tight timelines, and complex financial management. We specialize in providing tailored accounting services that simplify these challenges and give you a clear path to profitability.
At Pearl Lemon Accountants, we understand that managing finances in the construction sector comes with unique challenges. Rising materials and project costs make it essential to have precise accounting processes in place to assess financial health and optimize operations. That’s where we come in.
- Optimised Financial Health: Our tailored accounting services help construction firms track costs, manage budgets, and maintain financial stability—giving you a clear understanding of where your business stands.
- Cost-Saving Strategies: With project expenses on the rise, we implement accounting practices designed to save money and improve efficiency without compromising on quality.
- Advanced Technology Integration: We use cutting-edge accounting software to streamline your financial management, making it easier to track expenses, organize records, and stay compliant.
- Enhanced Growth Opportunities: By managing your finances effectively, you’ll have the tools and insights needed to scale your business and secure investor confidence.
Tailored Accounting Services for Construction Companies
Small Business Services
Your business can hire an accountant at different development levels depending on various factors.
Accountants for construction companies can guide you, from creating a business strategy to loan applications and tax audits.
By hiring Pearl Lemon Accountants for construction companies, you will spend less per hour handling time-consuming tasks like taxes than if you did it yourself. As a result, you can spend more time making money and feel inner peace knowing that your money is in the hands of a professional.
Payroll Services
You can focus your internal resources on more productive and lucrative operations while Pearl Lemon Accountants for construction companies manages all aspects of payroll and pensions.
In an ever-changing legislative and regulatory environment, it’s comforting to know that knowledgeable, comprehensive payroll accountants are there to help you.
There are several areas in which we have vast knowledge regarding outsourcing payroll. We aren’t an automated payroll solution, so your payroll receives the customised, one-on-one attention it deserves.
International Tax Planning
With our international tax experts, you can save on the UK and non-UK taxes, whether you are doing business globally or are planning to relocate abroad.
How you structure your overseas personal and corporate affairs affects tax liability. Using our global tax planning services, we can help you save money on taxes.
We ensure that you and your company are tax compliant worldwide and save money on taxes in the UK and abroad.
Personal Tax Services
Our team of experts will provide you with expert advice regarding every aspect of your tax situation to ensure compliance. Our UK tax filing service is designed to make the process as easy and complex as possible. These tax services are designed to reduce tax bills while enhancing personal wealth.
VAT Accounting
To ensure your company pays HMRC the right amount of VAT, you need to hire a VAT accountant who ensures you follow all VAT registration procedures for the best VAT scheme.
VAT accountants for construction companies will need access to your company’s records for accurate HMRC reporting.
In addition to providing vital assistance throughout the tax year, VAT accountants can answer your questions about VAT, saving you time and hassle. The volume of goods and services requiring VAT makes this crew crucial (and saves you a lot of money).
VAT is complicated and time-consuming to navigate.
Accountants who specialise in VAT can assist in completing these accounting procedures efficiently and accurately. Companies that sell VAT-taxable goods and services should hire accountants.
HRMC Tax Investigations
If you’re unsure what to do, seek professional guidance before undertaking a tax audit or inspection.
A tax investigation can result in significant tax bills, insolvency, and the need for a time-to-pay arrangement, voluntary arrangement, or even creditors’ liquidation.
If an investigation is underway, HMRC will contact or write to you. Generally, a tax investigation begins with a letter of notification. You will have to provide records to the inspector during a tax audit. Most of the time, HMRC will get in touch with your accountant.
Refusing a visit or ignoring a request for information could result in a fine.
For many reasons, hiring a tax expert to represent you during a tax investigation is a good idea.
Frequently Asked Questions
Construction accountants manage, analyse, and keep up-to-date with the financial information of a construction company.
Since these companies usually work on projects, the accounting team spends a lot of time on job costing tasks needed to estimate, track, and analyse project costs.
Accountants in the construction industry also help companies use the most suitable methods for recognising revenue. Construction accounting is a specialised skill because the construction industry’s accounting needs differ from those of other industries.
Most construction companies’ bookkeeping is based on projects. Bookkeepers have to enter all of the costs for each project.
Usually, they have to ensure that each entry is coded correctly so it can be categorised and given to the right project. Among the other tasks is writing down information about invoices and payments.
Tracking as much information as possible is the most important thing. It would be best if you placed the highest priority on this. When it comes to loan forgiveness for the PPP loan, the more records you keep, your business will be better off.
You should separate your business income and the money from your PPP loan. It might be hard to open a new bank account quickly if you work from home and the bank doesn’t have many people to help you.
If you can, keeping your PPP funds in a separate bank account is a great way to keep them separate from your business funds and keep track of your PPP expenses.
If you can’t or don’t want to open a new bank account, you should use your accounting software to the fullest to keep track of and separate PPP income and expenses.
At Pearl Lemon Accountants, we recognise that a firm can’t obtain all of the benefits of hiring our accounting services from a standard service package. Every service you pick for your business or account may be tailor-made precisely for you.
Because of our high regard for diversity and uniqueness in every company we partner with, your financial statements will seem different from those of our other clients. Our prices will depend on whatever services you pick.
Contact us today for more information regarding this matter.
When you allow us to keep track of your finances, you give yourself more time to do your work and please more clients.
It’s a win-win situation for everyone.
Aside from that, you’ll also gain financial stability because your assets and liabilities are managed well enough not to cause any trouble for you in the future.
So let our experts work for you, and you won’t regret it even a bit.
Book a call today to get started.
