Specialty Trade Bookkeeping and Fractional CFO Services
Specialty trades usually work as subcontractors, which means retainage, progress billing and lien waiver requirements on top of managing their own crews and lower-tier subs. Will handles all of this as standard practice.
In person across Tampa Bay (Pinellas, Hillsborough, Pasco, Manatee, Sarasota). Remote for specialty trade contractors nationwide.
Problems Will fixes for specialty trade contractors
- Subcontractor 1099 tracking not systematic, creating IRS (Internal Revenue Service) exposure
- Progress billing not recorded correctly in QuickBooks Online
- Lien waivers not tracked, leaving payment disputes open
- Equipment costs not tied to the jobs that use them
Why a generalist bookkeeper isn't enough
Most bookkeepers record transactions, reconcile the bank and hand you a Profit and Loss statement once a month. Will reads your numbers the way a Chief Financial Officer (CFO) does: which service lines make money, where costs are drifting, what cash looks like 60 days out, and whether the books are telling you the truth.
Software Will works with
Painting, drywall, tile, masonry, concrete and other specialty contractors face bookkeeping requirements generalist bookkeepers routinely mishandle: 1099 tracking for lower-tier subcontractors, progress billing against a general contractor's schedule of values, and lien waiver management. Will builds the accounting structure and processes that protect you from IRS exposure and payment disputes.
The numbers specialty trade contractors should watch every month
- Retainage held by each general contractor, with aging
- Days to collect progress billings
- Gross margin by job type
- 1099 and certificate-of-insurance status for every lower-tier sub
Bookkeeping or fractional CFO?
Construction bookkeeping
Weekly books, job costing, monthly financials and a CPA-ready year-end, about $1,000–$3,500 a month. Best for companies up to roughly $5M. See the tiers.
Fractional CFO
Cash forecasting, WIP and bonding reports, budgets, pricing and growth strategy, typically $6,000–$12,000 a month. Best for companies from roughly $5M to $50M. Fractional CFO services.
Frequently asked questions
Do I need to track 1099s for my subcontractors?
Yes. Payments to unincorporated subcontractors generally require a Form 1099, and missing W-9s create IRS exposure. A systematic process prevents year-end scrambles.
How should a subcontractor track retainage?
By job and by general contractor, with the amount, the release condition and the expected collection date, reviewed every month.
When does a specialty contractor need a fractional CFO?
Usually as revenue passes about $5M, when bonding is required, or when you are adding divisions or locations.