What we offer construction businesses
As Xero Gold Partners and ICAEW chartered accountants, we provide specialist accounting services for the construction sector:
- CIS (Construction Industry Scheme) monthly returns and verification
- Job costing and project profitability tracking in Xero
- Subcontractor payment management and CIS deductions
- Domestic reverse charge VAT for construction services
- Purchase order and materials cost tracking
- Cash flow forecasting for long-term contracts
Why construction businesses choose Xero with JacRox
Construction businesses deal with CIS, reverse charge VAT and project-based billing. We set up Xero to handle all of this, with tracking categories per job so you know which projects make money and which ones do not.
We are part of Jack Ross Chartered Accountants, established in 1948. You get a dedicated named accountant who understands your industry, transparent fixed fees, and the full support of an ICAEW-regulated firm.
Construction accounting: CIS, retention and job costing
Construction is one of the most heavily regulated industries when it comes to tax. The Construction Industry Scheme (CIS) means you need to deduct tax from subcontractor payments and report to HMRC monthly. Get it wrong and you’ll face penalties. We handle CIS registration, verification, deductions and returns through Xero so nothing gets missed.
Retention is another area where construction businesses struggle with cash flow. You’ve done the work but 5-10% of the invoice is held back for months. We track retention separately in Xero so your cash flow forecasts reflect what you’ll actually receive and when.
For builders running multiple jobs at once, we set up Xero Projects to track costs against each contract. You’ll see which jobs are profitable and which ones are eating into your margins before it’s too late to do anything about it.
Get started with a free consultation
If you run a construction business and want to get more from your accounting, get in touch. We will review your current setup and show you how Xero can help. Call us on 0161 832 4451 or book a free consultation.
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