Purpose: This document establishes comprehensive financial systems and accounting procedures for
job costing in your contracting business. Complete all sections to ensure accurate project profitability tracking,
cost control, and tax compliance.
1. Company Information
Company Name:
Federal Tax ID (EIN):
State License Number:
Primary Contact:
Accounting Period:
Fiscal Year End:
2. Revenue Tracking Setup
Revenue Categories
Revenue Type
Account Code
Tracking Method
Notes
Contract Revenue - Fixed Price
Contract Revenue - Time & Materials
Change Orders
Service & Maintenance
Warranty Work
Revenue Recognition Method
Percentage of Completion
Completed Contract
Cash Basis
Accrual Basis
3. Expense Categorization
Direct Job Costs
Cost Category
Account Code
Allocation Method
Tracking Level
Direct Labor
Direct Materials
Subcontractor Costs
Equipment Rental
Job Site Utilities
Permits & Fees
Indirect Costs (Overhead)
Overhead Category
Account Code
Allocation Base
Rate/Percentage
Supervision & Management
Office Expenses
Insurance
Vehicle & Equipment
4. Labor Allocation Tracking System
Labor Categories & Rates
Labor Classification
Base Rate
Burden Rate
Total Rate
Tracking Method
Foreman/Supervisor
Skilled Tradesman
Apprentice/Helper
General Labor
Labor Burden Components
Payroll Taxes (FICA, FUTA, SUTA): _____%
Workers' Compensation: _____%
General Liability Insurance: _____%
Health Insurance: _____%
Retirement/401k Match: _____%
Vacation/Holiday Pay: _____%
Other Benefits: _____%
5. Material Cost Tracking Procedures
Material Categories
Material Type
Cost Method
Markup %
Waste Factor %
Vendor Tracking
Lumber & Building Materials
Concrete & Masonry
Electrical Supplies
Plumbing & HVAC
Hardware & Fasteners
Inventory Valuation Method
FIFO (First In, First Out)
LIFO (Last In, First Out)
Average Cost
Specific Identification
6. Tax Compliance Setup
Tax Jurisdictions & Rates
Tax Type
Rate %
Jurisdiction
Filing Frequency
Account Code
Sales Tax
Use Tax
Contractor's Tax
Prevailing Wage Compliance
Tax Exemptions & Certificates
Resale Certificates on file for:
Government Contract Exemptions:
Equipment Purchase Exemptions:
7. Profit Analysis Framework
Profitability Metrics
Metric
Calculation Method
Target %
Reporting Frequency
Gross Profit Margin
Net Profit Margin
Labor Efficiency Ratio
Overhead Recovery Rate
Cost Control Thresholds
Budget Variance Alert Level:_____%
Material Cost Overrun Threshold:_____%
Labor Hour Variance Limit:_____%
Change Order Approval Limit: $
8. BuildSuite™ Integration & Real-Time Dashboards
System Integration Features
Real-time job costing dashboard configuration
Automated profitability alerts setup
Project cost tracking synchronization
Labor time tracking integration
Material cost import automation
Financial reporting dashboard customization
Alert Configuration
Email Notifications:
Dashboard Refresh Frequency:
Report Distribution List:
Note: Integration with BuildSuite™ provides real-time visibility into project costs, automated variance
detection, and instant profitability analysis for enhanced project management and financial control.
9. Implementation Checklist
Phase 1: Initial Setup (Week 1-2)
Complete company information and tax setup
Establish chart of accounts structure
Configure revenue tracking categories
Set up expense categorization system
Phase 2: Labor & Material Systems (Week 3-4)
Define labor classifications and rates
Calculate labor burden rates
Establish material tracking procedures
Configure inventory valuation methods
Phase 3: Analysis & Integration (Week 5-6)
Set up profit analysis framework
Configure cost control thresholds
Integrate BuildSuite™ dashboards
Test real-time reporting systems
Phase 4: Training & Go-Live (Week 7-8)
Train staff on new procedures
Conduct system testing
Begin live job costing tracking
Monitor and adjust as needed
Prepared By:
Date:
Reviewed By:
Date:
Approved By:
Date:
Implementation Support: Contact Alliance for Contractors technical support for assistance with
BuildSuite™ integration and job costing system optimization. Our team provides ongoing support to ensure maximum
profitability and financial control for your contracting business.