Bookkeeping is the daily recording of transactions (buying cable, paying a tech), while accounting is the high-level analysis of that data to determine profitability.

  General bookkeepers often miss "Labor Burden" and "WIP," which are unique to the construction and electrical trades.

  Revenue recognition, matching principle (matching material costs to the job they were used on), and consistency.

  Daily reconciliation is best for cash flow; weekly is the bare minimum for job costing.

  Most successful contractors use Accrual to see earned revenue versus actual costs incurred, regardless of when the check clears.

  It is the process of assigning every penny spent on labor, materials, and permits to a specific Job ID.

  Use the "Burdened Rate": (Base Wage + Payroll Taxes + Benefits + Insurance + Workers' Comp).

  This is often due to "Under-billing" or high "Retention" held by general contractors.

  It’s an asset on your balance sheet representing costs incurred on jobs that haven't been fully billed yet.

  By comparing hours paid on payroll to hours billed on job sheets. We help automate this comparison.

  Yes, it's a common "Software Silo" issue. We specialize in bridging these gaps via API or manual monthly imports.

  Don't track them individually. Use a "Shop Stock" overhead percentage or a "Standard Kit" cost for every job.

  Specialty fixtures or old-spec breakers that haven't moved in 12 months. They represent "frozen" cash.

  Yes. Each van should be treated as a "Sub-Warehouse" in your ERP for accurate truck-stock tracking.

  It depends on your region. We support 26+ global softwares, including Xero, Sage, and specialized ERPs like ServiceTitan.

  A specific tax deduction system where contractors deduct money from a sub-contractor’s payments and pass it to HMRC.

  Usually, yes. We manage the "Reverse Charge" and input tax credit reconciliations for global trades.

  We track all payments and ensure W-9s are on file so your year-end reporting is seamless.

  If you perform work in another state or country, you may have a "taxable presence" there. We help monitor this.

  Yes, as a marketing expense. We ensure all your vehicle-related deductions are maximized.

  You get 24/7 productivity, specialized expertise in 45+ industries, and a 40–60% reduction in back-office costs.

  Absolutely. We use bank-level encryption and secure cloud-based ERP environments to manage all client data.

  Yes. Our teams are structured to provide overlaps and updates that fit your business hours, whether you are in the US, UK, or Australia.

  Yes. We manage the "Deferred Revenue" so your income is recognized correctly over the 12-month contract period.

  We begin with a Diagnostic Audit of your current software and books to identify "short circuits" in your profitability.

  In many government contracts, you must pay a specific rate. We track these separately to ensure compliance and accurate job costing.

  Travel time is an indirect labor cost. We categorize this so you can see if your dispatching is inefficient.

  Usually yes, but the accounting treatment varies. We track on-call pay as a standby cost rather than direct job labor.

  OT should be charged to the specific job that caused the overrun, or spread across all jobs as an overhead burden depending on your strategy.

  A weekly report (common in the US/UK) that lists every worker, their labor class, and benefits paid on public works projects.

  Most FSMs (like ServiceTitan) export "Timesheets." We bridge that data into payroll providers like ADP, Gusto, or Tally.

  These are usually non-taxable reimbursements. we track them separately from gross wages.

  Total Revenue divided by Total Labor Cost. It tells you how many dollars you earn for every dollar spent on a sparky.

  An apprentice has a different risk profile than a high-voltage lineman. We split payroll by "Class Code" to lower your insurance premiums.

  Always Gross Profit. Revenue bonuses encourage "cheap" sales; profit bonuses encourage efficiency.

  We set up "Liability Accounts" to ensure these are withheld and paid to the union trust on time.

  If managed correctly, these are tax-deductible for the company and tax-free for the employee.

  While you can't always deduct it from wages, we track the loss as an "Operating Expense" for tax write-offs.

  No, it is an "Indirect Labor Overhead" because it benefits all jobs.

  We use automated rules in your ERP to apply the correct pay rate based on the "Clock-In" timestamp.

  Managing your schedule to avoid "Peaks" (expensive OT) and "Valleys" (expensive Idle Time).

  Yes, we use "Class Tracking" to ensure state income taxes are withheld correctly for where the work was performed.

  These are part of your "Labor Burden" and should be factored into your hourly billing rate.

  Our daily reconciliation process flags "Long Duration" shifts for immediate correction by the manager.

  To ensure your tax liabilities (Social Security, PAYE, etc.) match exactly what was withheld.

  The purchase is a Fixed Asset; the gas and repairs are Expenses.

  By using fleet cards integrated with your FSM. We match fuel transactions to the GPS location of the job.

  The percentage of time your trucks are actually on a job site versus sitting in the yard.

  Leasing offers lower upfront cash (good for cash flow); buying offers better long-term equity and "Section 179" tax breaks.

If the value is high, we "Capitalize" them as part of the vehicle's cost.

When techs use personal vehicles. We use GPS logs to validate these tax-deductible payments.

These are "Software-as-a-Service" (SaaS) expenses under Operating Overhead.

  Most contractors aim for 5–7 years. We help you set up a "Sinking Fund" to save for the next fleet upgrade.

  We record insurance payouts as "Other Income" and repair costs as "Expenses," ensuring the asset's book value stays accurate.

  Yes, if they are incurred specifically for a client's project, they should be billed back.

 High-value tools are tracked in an "Asset Registry" with unique serial numbers.

  If you rent a scissor lift, it's a direct cost. If you own the lift, you should "charge" the job an internal fee to cover depreciation.

  We track electricity utility spikes or dedicated "EVSE" charging station data.

  What you expect to get for the van when you sell it at the end of its life.

This must be recorded as a "Fringe Benefit" for tax compliance.

  Yes, to see if certain territories are too expensive to service due to traffic or distance.

  Interest is a non-operating expense, while the "Principal" reduces your liability.

  Matching your monthly Shell/WEX/Fuel card statement to your General Ledger.

  By treating each van as a "Virtual Warehouse" and performing monthly spot-checks.

A formal document that modifies the original scope of work.

  Because often the work is done, but the paperwork isn't signed, leading to "Unbilled Revenue."

When you make a mistake and need more materials. These track "Loss," not additional revenue.

  Doing extra work without a CO. We flag jobs where labor exceeds the estimate without a corresponding price increase.

Yes, to keep the "Original Contract Value" clear for the client and your bank.

  We track these in a "Probability Pipeline" but don't recognize the revenue until signed.

  A penalty for finishing late. We record these as a "Reduction in Revenue," not an expense.

  Usually 5–10% of the bill held by the client. We move this to a "Restricted AR" account so you don't spend money you don't have yet.

  When a GC charges you for a cleanup or damage. We record this as a "Contra-Revenue" or an expense.

  Recognizing revenue based on the % of the job finished (e.g., 50% through = 50% of the price).

  These can often be billed even if not installed. We track these as "Billable Inventory."

  A detailed list of every component of a job used for progress billing.

  We reconcile technician hours and supplier invoices daily to ensure no "lost" materials.

  A document you sign saying you've been paid. We match these to your bank deposits.

Recognized as revenue the moment your team arrives on-site.

  A monthly forecast of how much more money you need to spend to finish a job.

If you give a client 2% off for paying in 10 days, we record that as a "Sales Discount."

  Work done where the price is determined after the fact. High risk; we track these with "open-ended" job costs.

  If you have to redo work due to bad plans, we track this as a "Reimbursable Cost."

Because it provides the "Evidence" needed to win Change Order disputes.

  Spreading the cost of an asset evenly over its life (e.g., $50k van / 5 years = $10k per year).

  Taking more write-offs in the early years (like MACRS in the US). Great for reducing taxes now.

Usually no; tools under a certain threshold (e.g., $2,500) are "Expensed" immediately.

  A list of every truck, ladder, and tester you own, including purchase date and serial number.

  When you scrap an old van, we record a "Gain" or "Loss" based on its "Book Value."

If you buy another electrical company, the extra price paid for their reputation is "Goodwill."

  If you renovate your warehouse, we depreciate those costs over the life of your lease.

  When an asset (like a specialty machine) becomes obsolete and loses its value overnight.

  Usually once a year during your annual audit or tax preparation.

A tax rule allowing you to deduct the full price of equipment in the year you buy it.

Banks often require you to keep a certain "Debt-to-Equity" ratio. We monitor this monthly.

Earnings Before Interest, Taxes, Depreciation, and Amortization. It’s the "Purity Score" of your business operations.

  Yes, by providing clean, multi-year financial statements that make your business attractive to buyers.

By implementing "Segregation of Duties"—the person who buys the wire shouldn't be the one who pays the bill.

  The "Job Profitability Variance"—it tells you exactly where your estimates met reality.