How Enhanced Financial Visibility Helped a Construction Company Scale Operations and Achieve $300K in Savings

The Challenge: Disconnected Job Cost Data and Unreliable Financial Reporting

As a growing construction company executing $8–10 million in annual project volume, the client was successfully delivering multiple concurrent jobs while managing subcontractors, materials, and labor across projects.

The company used RedTeam construction management software for project execution and job cost tracking, while QuickBooks served as the primary accounting system. However, project-level data and company financial reporting were not consistently aligned.

RedTeam had been implemented after several projects were already underway, and as a result, many completed and active jobs existed in QuickBooks that were not fully reflected in RedTeam.

Job Cost Statements in RedTeam showed one version of project performance, while QuickBooks told a different story at the company level.

Revenue recognition further complicated matters. The client required Percentage-of-Completion (POC) accounting, but earned revenue, billings, and work-in-progress were not consistently reconciled between systems.

Additionally, QuickBooks contained payroll, general and administrative expenses, overhead salaries, and credit card activity that were not part of RedTeam’s job cost data, creating confusion around true project and company profitability.

The Goal: One Version of the Truth Across Projects and Financials 

The company wasn’t just looking for a bookkeeper to post transactions. They needed a partner who could: 

• • Reconcile RedTeam Job Cost Statements with QuickBooks 
  • Align Project Budgets, Actual Costs, and Revenue Recognition
  • Implement reliable Percentage-of-Completion and WIP reporting
  • Establish a repeatable monthly close and reconciliation process
  • Preserve full company-level financial reporting in QuickBooks 
  • Support a future construction software transition
  • Deliver high-quality construction accounting at a lower cost 

The ultimate goal was to create a single version of the truth, where project managers, executives, and finance teams all relied on consistent, accurate data to manage margins and make informed decisions. 

The Solution: RedTeam and Bookkeeping Aligned

Job Cost Statement Reconciliation 

EA began by reviewing Job Cost Statements for every active and completed project in RedTeam. The team ensured that: 

• • All actual job costs recorded in RedTeam were reviewed and validated 
  • Missing transactions in QuickBooks were identified and properly booked
  • Supporting documentation was obtained for audit-ready records 
  • Payroll allocations, overhead, and indirect expenses recorded directly in QuickBooks were reviewed for accuracy 

This process ensured that job cost data in RedTeam matched cost-to-date figures in QuickBooks on a project-by-project basis. 

Project Budgets & Budget vs. Actual Controls 

EA ensured that Project Budgets from RedTeam were properly reflected in QuickBooks. This enabled management to: 

• • Run Budget vs. Actual reports by job each month
  • Identify cost overruns early 
  • Compare performance across projects using consistent cost codes.

Percentage-of-Completion & WIP Accounting 

Revenue recognition was standardized using the Percentage-of-Completion method. 

The team:

• • Reconciled billing and earned revenue from RedTeam 
  • Calculated completion percentages based on job cost performance 
  • Accrued revenue monthly in QuickBooks 
  • Ensured alignment between earned revenue, billed revenue, and job costs

This resulted in accurate Work-in-Progress (WIP) schedules and reliable project profitability reporting. 

In parallel, EA supported inventory and materials tracking using a third-party inventory system, ensuring that construction materials were accurately reflected on the balance sheet.