Monthly Bookkeeping & Financial Statements

What Happens Every Month

We reconcile every bank and credit card account, categorize every transaction, and tie material and subcontractor costs to the job they belong to as they come in — not in a scramble at month-end. Payroll gets recorded with the correct split between billable field labor and overhead, and any outstanding customer invoices or vendor bills get reviewed so nothing falls through the cracks.

Once the month is closed, you get a standard financial statement package — profit and loss, balance sheet, and cash flow statement — plus the two reports a generic bookkeeper won't hand you: a job profitability report and a work-in-progress schedule for anything still open. Everything is delivered through a shared portal, and we schedule a short call each month to walk through what moved and why.

Financial Statements That Reflect How Electrical Work Gets Billed

A general contractor's monthly close often assumes revenue and expense happen close together. Electrical work doesn't cooperate: a service call bills the same day, but a commercial project might run three months with material purchased weeks before it's invoiced and retainage held for months after the job is done. Standard cash-basis or naive accrual reporting can make an actively profitable business look like it's losing money in any given month, or vice versa.

We build your statements around percentage-of-completion recognition for project work where it applies, so revenue and cost land in the period the work actually happened — not whenever the invoice or the check shows up. That single change is often what turns a confusing month into a clear one.

Job Profitability, Every Month

Alongside your standard statements, you get a job profitability report ranking every open and recently closed job by margin — revenue, material, labor (including burden), subcontractor cost, and the resulting profit, side by side. It's the single report most electrical contractors have never had access to on a routine basis, and it's usually the one that changes how they bid the next job.

For active jobs, the work-in-progress schedule shows billed-to-date versus earned-to-date, so you can see over- or under-billing before it becomes a cash flow surprise or a conversation with your bonding company.

Clean Books Without the Jargon

The financial statements come with a plain-English summary — what changed since last month, what to pay attention to, and what doesn't need your attention at all. You shouldn't need an accounting degree to understand your own business's numbers, and the monthly call is built to make sure you don't.

What We Need From You Each Month

Monthly bookkeeping works best as a light lift on your end: bank and credit card statements connect automatically through QuickBooks Online, so most months just need you to confirm a handful of transactions we can't categorize on our own (a Venmo payment with no memo, a check with an ambiguous payee) and to flag any new jobs, change orders, or subcontractor agreements we should know about. Most owners spend fifteen minutes a month on this.

Payroll records, vendor bills, and job information flow in through whatever system you already use — QuickBooks, a payroll provider's portal, or a shared folder for scanned invoices. We adapt to your existing workflow rather than asking you to adopt new software on top of running your business.

Pricing and What Drives It

Monthly bookkeeping is priced on a fixed fee, set after the discovery call once we've seen your transaction volume, number of active jobs, and whether certified payroll is involved — not billed hourly, so there's no incentive on either side to drag out the work. The fee is quoted before you commit to anything, and it only changes if the scope of your business meaningfully changes (a second crew, a jump in job volume), which we'd discuss with you directly rather than adjust quietly.

Getting Started

If your books are already reconciled and current, monthly service can typically start within one to two weeks of the discovery call. If they're not, we scope a cleanup project first — see QuickBooks Setup & Cleanup — so monthly bookkeeping starts on a clean foundation instead of inheriting problems that would just resurface every month.

What Changes in the First Few Months

The first month is mostly about establishing the baseline — confirming every account reconciles cleanly, making sure every active job is tagged correctly, and catching any categorization habits from before we took over that need correcting. By month two or three, the reporting stabilizes into a predictable rhythm, and that's usually when owners start noticing the shift: fewer surprises, faster answers when a lender or bonding company asks for financials, and a monthly call that actually informs a decision instead of just confirming the books are done.

We also use the first few months to learn your business specifically — which job types you run most, how your crews are structured, what your busiest and slowest stretches look like — so the reporting we build reflects your operation rather than a generic contractor template.