Construction
Job costing, WIP reporting, bonding support, and the financial leadership that helps general contractors and specialty trades grow profitably.
Schedule a Discovery CallConstruction is one of the most financially complex industries for a simple reason: revenue recognition doesn't follow a predictable monthly pattern, cash flow is driven by project milestones and retention schedules, and the difference between reported profit and actual cash in the bank can be enormous. A contractor can be "profitable" on paper and still run out of cash — and it happens more often than most people realize.
The financial infrastructure that works for most businesses — standard monthly P&L, simple cash-basis accounting — doesn't work for construction. Contractors need percentage-of-completion accounting, job cost tracking at the project and cost-code level, work-in-progress reporting that reconciles estimated vs. actual costs, and cash flow forecasting that accounts for retention, progress billing cycles, and change order timing.
Most bookkeepers aren't equipped for this. Most generalist CFOs haven't done it. At Pyek Financial, we understand the financial mechanics of construction because we've worked with contractors — and we bring that expertise to every engagement.
A fractional CFO from Pyek Financial provides the same caliber of financial leadership that large construction firms have in-house — tailored for contractors in the $2M–$50M revenue range who can't justify a $300K+ full-time hire. Here's what that looks like in practice:
Every project should be a profit center with its own P&L. We build and maintain job cost tracking systems that give you real-time visibility into costs vs. budget at the project, phase, and cost-code level. When a job starts slipping, you'll know it early enough to do something about it — not after the project is complete and the damage is done.
An accurate WIP (work-in-progress) schedule is the single most important financial document for a contractor. It tells you whether you're overbilled or underbilled on each active project, whether your revenue recognition is accurate, and whether your overall financial picture is as healthy as it appears. We prepare and review WIP reports monthly so there are no surprises — for you or your surety.
Construction cash flow is uniquely challenging because of the gap between when costs are incurred and when payments are received. Retention holdbacks, slow-paying general contractors, front-loaded material purchases, and seasonal slowdowns create a cash flow cycle that requires active management. We build project-level cash flow forecasts and rolling 13-week cash projections that help you anticipate and manage these cycles.
Your bonding capacity directly determines the size and number of projects you can pursue. Surety companies evaluate your financial statements, WIP schedule, and working capital position when setting your bonding limits. We ensure your financials present the strongest possible picture — clean books, accurate WIP, and a balance sheet that demonstrates the financial strength your surety needs to see.
Construction companies rely on lines of credit, equipment financing, and project-specific lending. We manage bank relationships, prepare the financial packages lenders require, and ensure covenant compliance so your credit facilities remain available when you need them.
Beyond the day-to-day, we provide monthly financial reporting packages, annual budgeting, equipment purchase analysis, and the strategic financial thinking that helps you decide which projects to pursue, when to hire, and how to grow without overextending your financial capacity.
The construction companies that come to Pyek Financial typically face one or more of these challenges:
If any of these sound familiar, a fractional CFO engagement can typically resolve them within the first 60–90 days while establishing the financial infrastructure to prevent them from recurring.
Construction companies operate with unique financial complexity — job costing, work-in-progress reporting, retention receivables, bonding requirements, and project-based cash flow cycles. A fractional CFO provides the financial expertise to manage this complexity without the cost of a full-time hire, typically saving construction companies $150K–$250K annually compared to a full-time CFO.
Work-in-progress (WIP) reporting tracks the financial status of active construction projects by comparing costs incurred and revenue recognized against the total contract value. Accurate WIP reporting is essential for understanding true profitability, meeting bonding requirements, and avoiding the cash flow surprises that sink construction companies.
Surety companies evaluate a contractor's financial strength before issuing bonds. A fractional CFO ensures your financial statements are clean, your WIP schedule is accurate, and your balance sheet presents the strongest possible picture to your surety. This can directly increase your bonding capacity and the size of projects you can pursue.
General contractors and specialty trade companies with $2M–$50M in annual revenue are the ideal fit. At this size, the financial complexity demands more than a bookkeeper can provide, but a full-time CFO at $250K+ isn't yet justified. A fractional CFO fills that gap at 20–30% of the cost.
Our Services
Ongoing strategic financial leadership — WIP reporting, cash flow management, bonding support, and bank relationships.
Learn moreConstruction-specific bookkeeping — job cost tracking, progress billing, retention management, and monthly closings.
Learn moreBuy-side and sell-side M&A support — construction company valuation, backlog analysis, and deal diligence.
Learn moreProject-based work — accounting system implementation, job cost setup, and financial process buildout.
Learn moreSchedule a discovery call and we'll talk through how a fractional CFO can help you manage job costs, improve cash flow, and grow your bonding capacity.
Schedule a Discovery Call