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A comprehensive Chart of Accounts for contractors and construction companies. Includes job costing, retainage tracking, and equipment accounting.
Use This TemplateThis template includes 32 accounts optimized for construction operations.
Primary operating account
Dedicated payroll funding account
Progress billings and completed invoices
Amounts withheld by clients until project completion
Costs incurred on incomplete projects
Heavy equipment and machinery
Contra-asset for equipment depreciation
Trucks, vans, trailers
Amounts owed to suppliers and subs
Retainage owed to subcontractors
Business credit card
Wages, taxes, benefits owed
Collected sales tax on materials
Financing on heavy equipment
Owner investment
Accumulated profits
Revenue from contracts
Revenue from approved change orders
T&M billing revenue
Income from renting equipment to others
Direct materials for jobs
Payments to subcontractors
Field labor wages and burden
Equipment usage on jobs
Permit costs billed to jobs
Fuel, maintenance, insurance
Non-capitalized tools
General liability, workers comp
Administrative costs
Contractor licenses, bonds
Owner/officer compensation
Annual depreciation on fixed assets
Use QuickBooks® jobs/projects to track costs and revenue by project. This is essential for understanding which jobs are profitable and which are losing money.
Retainage (typically 5-10%) is held until job completion. Track it separately in both receivables and payables to avoid cash flow surprises.
Direct costs (COGS) can be billed to jobs. Indirect costs (overhead) cannot. Keeping these separate is critical for accurate job profitability.
For percentage-of-completion accounting, track costs in WIP until revenue is recognized. This provides accurate financial statements.
Generate this template for QuickBooks® Desktop or Online.
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