Specialized Industry Expertise
Construction Accounting
Job costing, work-in-progress reporting, and contractor tax strategy from a team that understands how construction businesses actually run.
Not General Accounting
Construction Accounting Is a Specialty
Construction is not like retail or professional services. Revenue spans months or years. Costs accumulate across materials, labor, subcontractors, equipment, and overhead, and must be assigned to the right job at the right time. A single misallocated invoice can make a profitable project look like a loss, or vice versa.
Contractors also face unique compliance layers: certified payroll on public work, prevailing wage rules, retainage, lien waivers, bonding requirements, and lender draw schedules that depend on accurate work-in-progress reporting. Standard bookkeeping software configured for a generic small business will not produce the reports your banker, surety, or project owner expects.
That is why Joseph Gormley, CPA, LLC. offers dedicated construction accounting, not as an add-on to generic services, but as focused expertise for contractors who need numbers they can trust on every job.
The Cost of Getting It Wrong
Why You Need a Construction Accounting Expert
Contractors who rely on generalist bookkeepers or CPAs without construction experience routinely encounter:
- ✕Misclassified costs that hide unprofitable jobs until year-end
- ✕WIP schedules that do not tie to the general ledger or bank draws
- ✕Over/under billing that triggers cash-flow crises mid-project
- ✕Payroll errors on prevailing-wage or certified jobs
- ✕Tax surprises from incorrect accounting method or entity structure
- ✕Financial statements rejected by bonding companies or lenders
An expert who has spent a career in construction accounting catches these issues before they become expensive, and builds systems that give you clear job-level visibility month after month.
Your Construction Specialist
Stephanie Katranis
Construction Accounting Specialist · 20 Years of Industry Experience
Stephanie Katranis has dedicated two decades to construction accounting, helping contractors, builders, and trade subcontractors build financial systems that match the reality of project-based work. She understands job costing from the ground up: how costs flow from purchase orders and timesheets into WIP schedules, how change orders affect margin, and how to present financials that stand up to surety and lender scrutiny.
Over 20 years, Stephanie has worked with firms ranging from growing subcontractors taking on their first bonded jobs to established general contractors managing portfolios of active projects. Her focus is practical: clean books, accurate job reports, compliant payroll, and proactive communication so owners and project managers can make decisions with confidence.
At Joseph Gormley, CPA, LLC., Stephanie works alongside Joseph Gormley and the broader firm team, so construction clients benefit from specialized job-cost expertise backed by full CPA tax, advisory, and compliance services.
- ✓20 years focused on construction industry accounting
- ✓Job costing, WIP, and over/under billing analysis
- ✓Certified and prevailing-wage payroll support
- ✓Bonding and lender financial package preparation
- ✓Cleanup and remediation of disorganized contractor books
What We Deliver
Construction Accounting Services
Focused support for the financial workflows that matter most to contractors and builders.
Job Costing & Work-in-Progress
Accurate tracking of costs by project, phase, and cost code, so you know profitability on every job before it closes, not after.
Percentage-of-Completion Reporting
Revenue recognition aligned with GAAP and contract requirements, including over/under billing analysis and WIP schedules lenders expect.
Contract & Change Order Management
Documentation and accounting for original contracts, approved change orders, and pending revisions, protecting margin when scope shifts.
Payroll & Certified Payroll
Prevailing wage, union, and multi-state payroll compliance for public and private projects, including certified payroll reporting.
Bonding & Lender Readiness
Financial statements, work-in-progress schedules, and ratios formatted for surety underwriters and construction lenders.
Tax Planning for Contractors
Entity structure, equipment purchases, Section 179 and bonus depreciation, and cash-flow planning tailored to cyclical construction revenue.
Common Questions
Construction Accounting FAQs
Answers to questions contractors often ask before engaging specialized accounting support.
Talk to our construction accounting team
Whether you need a WIP cleanup, ongoing job-cost support, or contractor tax planning, Stephanie Katranis and Joseph Gormley are ready to help. Book a free consultation to discuss your projects and goals.