Controls & Accounting Solutions In New Jersey
Gentile Consulting Group provides comprehensive control and accounting solutions to the building industry in New Jersey. Our expert team translates activity in the field to actionable financials in the office. This arms executives, project managers, developers, lenders, and investors with the most accurate and up-to-date information to make reliable decisions.
It is more crucial than ever for contractors, owners, developers, and investors to maintain control over their projects and to meet profit targets and other commitments. Our team provides peace of mind knowing you’re getting financial information from professionals with a deep background in both field construction and finance.
What are Control & Accounting Solutions?
Construction accounting and control is a critical component in the financial management of any construction project. Our services are specific to the construction industry and comprises the following elements:
- Project Accounting, Job Costing & WIP
- P&L, Balance Sheet, Cash Flow
- Financial Reporting
- Internal Controls
- Audit Support
Accounting and control begins when the first dollar is allocated to a project and continues through planning, design, procurement, construction and closeout. Managing expenditures over the duration of the project involves foresight, organizational communication, reliable and organized reporting, and a trustworthy accounting system.
Gentile Consulting Group works with your internal departments, project managers, contractors, consultants, suppliers, and all involved to build the financials based on direct source information. We go beyond today’s facts and figures, and capture insights into the trajectory of the project’s health. We provide actionable recommendations on areas of cost opportunity, and areas that need management attention. More than accountants, we’re trusted advisors to guide you through the financial management of your project from inception to completion.
Why do you Need Accounting and Controls for your Project?
For a successful project, you need to be on top of the numbers; costs, revenues, and unexpected impacts. Accounting and controls capture today’s costs and tomorrow’s trends. This accomplishes two things: (1) allows the project to be properly recorded in the firm’s books and records, and (2) provides the best forecast of the project cost at completion. We constantly measure work in progress and identify issues early on, providing the best opportunity to correct courses when needed. And when it comes time for an audit, we have established a process that shows the project is well managed, well documented, and properly recorded in the books and records of the firm.
Advanced Accounting & Reporting
We offer our clients advanced accounting and control reports over the life of the project. This supports planning, budgeting, forecasting, and management decision making.
Construction accounting employs percentage completion accounting. The accounting process begins with identifying all costs incurred to date but doesn’t end there. To properly recognize revenue, there must be an accurate forecast of the Cost at Completion. That differentiates standard accountants from specialized construction accountants. Our team is the best at deciphering trends, assessing changes, digging into the details with contractors and other vendors, and providing the most accurate Cost at Completion. Only then can costs and revenues be properly recognized, and managers provided the most accurate financial information to assess the health of the project.
That information not only goes into the standard required financials (Profit & Loss, Balance Sheet, Statement of Cash Flow), but more importantly into succinct Management Reports. Our Management reports are customized to your needs, focusing on the issues most important to your project and your firm. They combine graphics, costs, and executive summaries that drive right to the issue, and engage managers at all levels to collaborate on solutions.
Cost Control and Audit Support
By supplying the most accurate and timely information, and keeping lines of communication open with the entire project team, GCG is able to manage costs at the source, and elevate issues as soon as they become a possibility. That helps Project Managers and the entire project team be more successful. This proactive approach makes everyone look good, and shows up in the bottom line, through reduced costs, increased revenues, well-managed change orders, and less risk.
When it comes time for the company and/or project audits, we stand with you guiding you through the process. We can explain complex accounting treatments, the rationale for assumptions, and a complete documented accounting trail of all transactions and records. We establish well-controlled processes to ensure proper delegation of authority, proper documentation of all transactions and forecasts, and the proper level of involvement from all project participants and stakeholders. Our ability to match field performance with financial results will set you apart when dealing with auditors, investors, lenders and sureties.
Experience matters in every field. We specialize in the construction industry and have extensive experience with projects ranging from $10M to $10B in value. We go beyond the numbers, combining our field experience with accounting acumen to provide both operational and financial insights that help save costs and ward off threats. We provide information in intuitive, visual reports that make risks and opportunities jump off the page. We see the project from all sides. Whether you’re an owner, builder, developer, investor, or lender – we’ve been there and are in the best position to protect your interests.
Having worn hard hats and suits, GCG is known for its ability to support all levels of management. We’re responsive, accurate, pragmatic, and professional under all circumstances. Our work throughout Northern New Jersey includes clients such as PSE&G, Merck, Alstom Power, Aries Clean Technology, and others. To explore more about our work with clients like you, you can view some of our typical engagements.
Our considerable construction experience includes residential, commercial, industrial, land development, and major infrastructure projects. Each project gets senior management’s attention and we manage them like our own. Our team ensures you get accurate and transparent reports as promised, and we look forward to becoming part of your team. Contact Us today!