How it runs for construction companies and contractors
Each metric has a definition you agree to, so the number means the same thing every month. Fathom or a spreadsheet model can host the views.
What are financial dashboard services?
Financial dashboard services design, build and maintain a visual view of your key financial metrics from your accounting, billing and payroll systems. The provider defines each KPI with you, connects the data, refreshes the figures, and checks that every number ties to the ledger. The result is a page you open any day, not a report you wait for.
What we handle for construction companies and contractors
- Gross margin by job, phase and project manager against the estimate
- Backlog in dollars and months from signed contracts
- Over and under billings and retainage outstanding per job
- Labor hours and cost against estimate for open jobs
- Thirteen-week cash view including draw funding and payroll dates
The KPI that matters here
Dashboard refreshed within 2 business days of each close with every metric traceable to the ledger.
Construction compliance notes
Sales tax on materials
In most US states a contractor pays sales tax on materials at purchase and does not charge tax on the finished job. A few states, including Arizona and Washington, tax the contract itself, and many states have separate rules for repair work versus new construction. We set up tax codes per state and contract type and track exempt purchases with resale or project certificates on file.
Retainage
Retainage withheld by owners is recorded as retainage receivable, and retainage you withhold from subcontractors is recorded as retainage payable. Several states cap retainage on public work, commonly at 5%, and set release deadlines after completion. We track the release date per contract so closeout billing goes out on time.
Job costing and WIP
Bonding companies and lenders expect a work-in-progress schedule that ties to the general ledger, with contract value, costs to date, estimated cost to complete and billings to date. We maintain the schedule monthly and book over and under billing entries so the P&L reflects percentage of completion.
CIS in the UK
Under the Construction Industry Scheme, UK contractors deduct 20% from registered subcontractors and 30% from unregistered ones, and file a monthly CIS return with HMRC. We verify subcontractors, prepare the deduction statements and CIS return workings, and reconcile deductions suffered against your PAYE liability. Your accountant or the business submits the return.
Construction software we work in
- QuickBooks Online
- QuickBooks Desktop
- Xero
- Bill.com
- Gusto
- Sage 50
- Buildertrend
- Procore
- All 50 platforms
More for construction companies and contractors
Other services for construction
Frequently asked questions
Which KPIs should a contractor watch every month?
Gross margin by job against estimate, backlog in months of revenue, over and under billings from the WIP schedule, retainage outstanding, labor hours against estimate and weeks of cash on hand. Together these show whether current work is on margin, whether enough work is sold and whether cash covers payroll through the next draw.
Can the dashboard pull data from Buildertrend or Procore?
Yes, job data such as estimates, committed costs and percentage complete can be exported or synced from Buildertrend or Procore and combined with the reconciled ledger. The accountant checks the sync each month so the dashboard and the financials agree. Where a direct connection is not available, a monthly export is used.
How often is the dashboard updated?
Financial metrics are refreshed after each monthly close, and cash and receivable views are updated weekly because they change fast. The refresh calendar is agreed at setup. Each metric carries its definition and data source, so when a number surprises you, the accountant can trace it to the transactions behind it.
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