Construction accounting is a specialized profession. FMS’s Accounting Practice provides knowledgeable and customized outsourced accounting services for its clients. FMS clients require up-to-the-minute job cost, union and non-union payroll support (including certified payrolls), fixed asset and equipment accounting, and an efficient paperless payables workflow. We provide timely T&M and progress billings with exceptional accuracy. In conjunction with our IT practice, we support direct integration with clients’ customers’ electronic data exchange systems.
Beyond routine processing, FMS translates clients’ raw accounting data into actionable intelligence for executives and project managers—to keep work on track, project into the future, and refine the estimating process—giving clients the edge in the highly competitive construction market.
Additional services include but are not limited to contract review; subcontract management; change management; cash and finance management; rates analysis and bid preparation assistance; pre-qualification and compliance support including procurement of certificates of insurance and/or bonding ; compiled financial statement preparation and audit support.
FMS implements best-practices separation of duties and accounting controls, as well as IT controls consistent with SAS 94, to insure the integrity of client financial data. FMS works in tandem with clients’ outside accounting firms to insure GAAP rules compliance and straightforward preparation of certified financial statements.