The construction industry runs on tight margins, complex projects, and constant change. That’s why your CPA is one of your most valuable business advisors. At the 2025 Construction Intelligence Summit, we asked CPAs from Top 100 accounting firms what advice they wish every construction company followed.
Here’s what they said, in their own words, when asked What’s one thing you wish your construction clients did, or something you’re glad they’re already doing?
“I wish some of our clients had more frequent job status meetings with the project managers to check on progress/profitability of their respective jobs.”
Paul Atkinson
Smith + Howard
Regular job cost tracking prevents small overruns from turning into major profit fade. Meeting monthly ensures the project manager and accounting team are on the same page about costs, billing, and timelines.
Schedule recurring job status meetings for every active project. Review progress, profitability, underbillings, and potential change orders.
“I wish my clients reconciled their open/closed job schedules back to their financial statements on a monthly basis.”
Chris Mast
GBQ
Without accurate reconciliation, your WIP reporting could mislead you on profitability, leading to bad decisions. Monthly reconciliation ensures your financial statements reflect reality.
Implement a checklist for WIP schedule reconciliation each month, tying job data directly to your general ledger.
“I wish my clients provided me with all of the required audit/review support a week before fieldwork and responded within 24-48 hours to any additional requests.”
Chris Mast
GBQ
Preparing early reduces stress, saves billable hours, and helps CPAs identify issues before they become emergencies.
Create a shared audit preparation folder with all key documents, contracts, billing schedules, and job cost reports ready at least a week in advance.
“Net positive cash flow after mobilization, depending on the size of the project.”
Brian Muncy
CBIZ
Many contractors face cash crunches after starting a project. Planning for net positive cash flow ensures you can cover payroll, materials, and overhead without relying on expensive credit.
Align your billing schedule with project milestones and negotiate favorable payment terms to avoid negative cash flow.
“Incentive plan to identify and reward high performers.”
Ken Hedlund
CBIZ
A competitive construction market means retaining skilled labor is critical. Incentive plans tied to project profitability help keep your best people motivated.
Set measurable performance metrics; safety, schedule, quality, profit margins, and reward employees who exceed them.
“Conduct regular review meetings on all projects over certain criteria (size, duration, etc). Meetings should be at least monthly but possibly more frequently.”
Ken Hedlund
CBIZ
Larger projects carry greater risk. Frequent reviews can catch cost overruns, underbillings, or contract disputes before they escalate.
Identify high-risk projects and set biweekly review cadences for tighter control.
“Have a job close-out meeting that reviews the actual costs compared to budgeted costs… Use this information to tweak how future jobs are estimated and share learnings across teams.”
Lisa Baalman
Pinion
Without a closeout review, costly mistakes get repeated. Closing the loop improves job costing accuracy and helps you build more competitive bids.
Standardize closeout meetings with the project manager, estimator, and accounting team to compare estimates vs. actuals.
“Manage their projects in real time instead of after the fact.”
Dean Willingham
REDW
Post-mortem analysis is too late to fix financial losses. Real-time project management prevents profit fade and keeps cash flow management under control.
Invest in software and processes that give your team live visibility into cost-to-complete, budget variances, and productivity.
“Understand and manage the company’s break-even.”
Dean Willingham
REDW
Many contractors miscalculate their break-even point by excluding indirect costs. This leads to underbidding and thin margins.
Work with your CPA to calculate true overhead allocation and build that into your bids.
“I wish more of my clients would look at the WIP data to truly understand key customers, regions, industries, or top performers.”
Dan Stanhope
AAFCPAs
High revenue from a client doesn’t always mean high profit. By sorting WIP reports by customer, region, or type, you can spot trends and focus on your most profitable work.
Review WIP data quarterly and shift resources toward your best-performing segments.
Your CPA isn’t just here to file your taxes; they can help you unlock better profitability, stronger cash flow, and smarter decision-making. The firms above represent some of the top accounting talent in the U.S., and their advice reflects what it takes to thrive in today’s competitive construction industry.
