In the construction industry, each project is different from the next. Some jobs come with an up-front deposit. Others require 15% in retainage. A year-long job may come with a hundred change orders. Others get delayed for months…you get the idea. Managing cash in the construction industry can be difficult. Contractors, subcontractors, and material suppliers need bookkeeping support from someone who understands the payment problems they deal with day-to-day. In this article, we’ll look at 5 of the top construction accountants and bookkeepers in Florida.
Why Florida contractors need a construction accountant
Cash flow in construction is so complex (and slow), a generalist accountant won’t be able to provide the insights that can transform a business. Construction accountants have years of experience managing the books for contractors, and understand the variables that come with each project.
For contractors in the Sunshine State, a construction bookkeeper or accountant in Florida is going to deliver the best results. continue reading to learn more about the construction accountants that can simplify your company’s finances. Because there’s no telling how much a given project may cost or how long it may take, it can be difficult to determine how much you’ll profit. A construction accountant or bookkeeper can help you figure it out – so you can put more cash in your pocket at the end of the day.
Florida’s top construction accountants & bookkeepers
These accountants and firms made the list based on a few key criteria:
- They focus on, or specialize in, accounting for construction businesses
- Their staff are members of construction industry trade groups
- They are based in Florida
The list below is in alphabetical order. The accountants are not listed by any respective rank.
1. Beyond Books Solutions
Beyond Books Solutions (BBS) is a virtual bookkeeping service with a strong focus on the construction industry. BBS doesn’t deal with taxes. Instead, they focus their full attention on accurate bookkeeping. They help contractors get their books in order, perform accurate job costing, and generate insightful reports.
Elizabeth Boals, the owner of BBS, is a QuickBooks Certified ProAdvisor with a Masters in Accounting. Ultimately, Elizabeth is passionate about helping contractors to understand where their money is going.
2. CRI CPAs and Advisors
Florida locations: 22 offices across the state
Carr, Riggs, & Ingram (CRI) is a CPA firm and advisory service dedicated to helping contractors stay competitive in the ever-fluctuating construction industry. Seasons change. So does the market, and so should your financial strategy. If you can’t adapt to the downturns, you could lose a lot of money.
CRI helps keep you financial strategy up-to-date, regardless of downturns by:
- Performing cash flow analysis
- Maximizing your bonding capacity
- Implementing tax planning
- Optimizing your working capital
- Conducting risk assessment
- … and much more
CRI has over 1200 construction clients with combined annual revenues of more than $575 billion. If their industry experience wasn’t enough, their team of CPAs are also members of the top industry organizations so they can stay on top of market trends and developments.
Larry May is the leader of the firm’s construction services team. He provides audit, review, and compilation services to road builders, general contractors, and subcontractors. Larry is the treasurer for both the national Associated Builders and Contractors and the Associated Builders and Contractors of Mississippi.
3. Daniel Mace, CPA, PA
Florida location: 1515 Indian River Blvd, Vero Beach, FL 32960
Daniel Mace, CPA, PA specializes in accounting and bookkeeping for the construction and real estate industry. As a result, they have an in-depth knowledge of the industry itself. Their main focus is on helping construction businesses reach their full profit potential.
Their services include, but aren’t limited to:
- Operation reviews and assessments
- Job costing
- Insurance compliance
- Ledger maintenance
- QuickBooks accounting software setup
- Business loan assistance
Daniel Mace, CPA, a QuickBooks Pro Advisor, has over 20 years of accounting experience. Dan enjoys creating meaningful, lasting, and mutually beneficial relationships with construction companies in Vero Beach, Florida.
4. EFA CPAs and Business Advisors
Florida location: 782 NW 42nd Ave., Suite 545, Miami, Florida 33126
EFA CPAs and Business Advisors is passionate about the Florida construction industry. Their website is full of incredibly useful and informative resources for large and small contractors alike. They even publish a quarterly Construction Newsletter – a sign that they keep a close eye on industry activity.
EFA goes above and beyond by providing more than simple construction accounting services. They also:
- Handle multi-state licensing
- Investigate business violations
- Assist in software selection
- Conduct continuity planning
- Improve your internal job cost system setup
- Provide general tax services
Rafael Rodriguez, an Audit Manager and Partner at EFA, specializes in performing audits and reviews of financial statements for his clients in the construction industry. In addition to membership in accountant industry groups, Rafael is also a member of the Construction Financial Management Association (CFMA).
The firm’s founder and managing partner, Emilio F. Alvarez, has perhaps the most impressive credentials that you’ll ever see in a construction accountant. He’s a member of Construction Industry CPAs / Consultants Association (CICPAC), CFMA, AGC Financial Issues Committee, National Association of Surety Bond Producers (NASBP), and about a dozen more.
5. Elizabeth J. Daniel, CPA
Florida location: 4440 PGA Boulevard, Suite 600, Palm Beach Gardens, FL 33410
Elizabeth (Liz) Daniel has extensive experience in working with all kinds of businesses within the construction industry. Her main focus is to help businesses like yours reduce costs and stay competitive no matter the season. Along with the standard construction accounting practices, Elizabeth J. Daniel helps you:
- Anticipate cash flow patterns throughout the year
- Track job costing with in-depth analysis
- Stored material billing and documentation to get paid faster
- Manage payroll
- Set up QuickBooks software
- Prepare financial statements
- Perform work-in-progress accounting and analysis
- Davis-Bacon wage reporting
- …and a lot more.
As a former controller for a large multi-family construction company in South Carolina, Liz understands the complex nature of construction accounting. As controller, she managed over $25 million in HUD-backed construction loans, as well as several completed apartment complexes.
6. James Moore Certified Public Accountant and Consultants
Florida locations: Gainesville, Daytona Beach, Tallahassee, Deland
Although good construction accountants are few and far between, James Moore breaks the mold with their impressive range of services. They know that accounting should go farther than simple dollars and cents. In addition to a full range of construction bookkeeping services, they also provide:
- Tax planning & preparation
- Bonding & surety support
- Audits & reviews
- Quickbooks support
- Transition planning
According to Ivan Oelrich, president of Oelrich Construction, Inc., “Their staff’s specific knowledge of the construction industry has been an invaluable tool in the continued growth and professional development of our business.”
The construction industry is fickle, and what works one season may not work the next. James Moore can shift focus to making sure their improvements remain agile for the coming seasons, upturns, and downturns in the market.
Jeremy Wright, CPA, leads the Construction Service Team. Jeremy is a member of the Builders Association of North Central Florida (BANCF), the Construction Industry CPAs and Consultants (CICPAC), and the Florida Surety Association.
Construction Accounting in Florida
Every company relies on accounting to provide an overall picture of their business health. Construction companies also need to understand their financial health on each and every project.
As the Florida construction industry experiences a building boom, it’s important that contractors understand their financials and cash position front-to-back. A construction accountant or bookkeeper can help give businesses a full picture of their money. Construction CPAs in Florida have the added advantage of being able to provide tax advice that can boost a contractor’s profit margins.
There’s no doubt your financial picture will look different a year from now. For better or for worse, how much cash you have in your pocket will be determined by the accounting decisions you make today.