For contractors and construction business owners
Is your QuickBooks telling the truth?
Twelve things we most often find when we open a contractor's books — what each one distorts, and how a surety or banker reads it.
What's inside
- Twelve red flags, each with what you'll see in QuickBooks and what it actually means
- Why retainage buried in receivables overstates your working capital
- What a missing WIP schedule does to your reported profit
- How job costs mixed into overhead lead you to bid off a margin that was never real
- A self-scoring checklist so you can total your own results
Who wrote it
We are a Central Coast CPA firm with more than forty years in construction, real estate, and agriculture. We built this because we kept finding the same twelve problems, and most of them are fixable in weeks rather than quarters.
It takes about fifteen minutes to work through. There is no pitch inside it.
10 pages · free · PDF
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Want a second set of eyes instead?
Send us your financial statement and your WIP schedule and we'll tell you plainly what we see. No charge, and no pitch afterward unless you ask for one. If your books are clean we'll say so, and you'll have an outside opinion worth having before your next bonding conversation.
Bret Scholl, CPA, CGMA · Michael Arensdorf, CPA
Scholl & Arensdorf, LLP · Corral de Tierra, California · (831) 758-5966
This report is general educational information for construction business owners. It is not accounting, tax, or bonding advice for any specific company or situation.