Running a construction company in Los Angeles means keeping up with a constant stream of financial tasks — monthly bookkeeping, payroll, certified payroll, lien waivers, WIP updates, tax deadlines, and more. This construction bookkeeping checklist gives you a complete monthly, quarterly, and annual financial management system for LA contractors.
Want someone else to handle all of this? Bookkeeping Champs manages the entire checklist for contractors throughout LA, San Fernando Valley, and Ventura County. 📞 Call (818) 679-4451.
Weekly Construction Bookkeeping Checklist
- ☐ Run payroll for all employees (field crews, office staff, supers)
- ☐ Submit certified payroll reports (DIR eCPR) for all active public works projects — due by Thursday of the following week
- ☐ Review accounts receivable aging — follow up on invoices 30+ days outstanding
- ☐ Review new bills received — enter in QuickBooks and assign to correct job/cost code
- ☐ Collect and upload receipts for business credit card purchases
- ☐ Review cash position — check bank balance against upcoming payroll and vendor payments
- ☐ Update job cost entries for material deliveries and subcontractor invoices received
Monthly Construction Bookkeeping Checklist
First Week of Month (Prior Month Close)
- ☐ Reconcile all bank accounts to prior month-end bank statement
- ☐ Reconcile all credit card accounts to prior month statements
- ☐ Reconcile payroll to actual payroll reports (total wages, taxes, deductions)
- ☐ Enter all outstanding bills received but not yet entered
- ☐ Review accounts receivable — write off uncollectible amounts if applicable
- ☐ Update WIP schedule for all active projects — update percentage complete and costs to date
- ☐ Review retainage receivable balances — confirm nothing past due
- ☐ Review retainage payable balances — release retainage to subs on completed projects
- ☐ Produce monthly P&L, Balance Sheet, and Cash Flow Statement
- ☐ Run Job Profitability Summary — review each active job against budget
- ☐ Update subcontractor lien waiver log for prior month billings
Monthly Tax & Compliance Tasks
- ☐ Make monthly federal payroll tax deposit (if monthly depositor) — due by 15th
- ☐ Make monthly California EDD payroll tax deposit (if monthly depositor) — due by 15th
- ☐ Review California use tax on any out-of-state purchases where no sales tax was collected
- ☐ Verify all active subs have current CSLB license and COI on file
Quarterly Construction Bookkeeping Checklist
- ☐ File Form 941 (federal employer quarterly payroll return) — due April 30, July 31, Oct 31, Jan 31
- ☐ File California DE-9 and DE-9C (state quarterly payroll returns) — same deadlines
- ☐ Make quarterly estimated federal income tax payment (if applicable) — April 15, June 15, Sept 15, Jan 15
- ☐ Make quarterly California FTB estimated payment — April 15, June 15, Sept 15, Jan 15
- ☐ Review cash flow forecast for next 90 days — adjust for upcoming large project expenses or slow billing periods
- ☐ Review insurance renewals — workers’ comp, general liability, builder’s risk, vehicle policies
- ☐ Reconcile sales tax account if applicable and remit to CDTFA
- ☐ Review QuickBooks for any uncategorized or miscoded transactions — clean up before they accumulate
- ☐ Conduct quarterly review with your bookkeeper / CPA to discuss financial trends
Annual / Year-End Construction Bookkeeping Checklist
November – December: Year-End Planning
- ☐ Review year-to-date P&L — identify opportunities to accelerate deductions before December 31
- ☐ Consider equipment purchases before year-end to capture Section 179 deduction ($1.16M limit for 2025)
- ☐ Make retirement contributions (SEP-IRA, Solo 401k, or company 401k) before year-end
- ☐ Review accounts receivable — collect or write off uncollectible balances before December 31
- ☐ Review accounts payable — pay outstanding bills to capture current-year deductions
- ☐ Verify W-9 is on file for every subcontractor and vendor paid $600+ during the year
- ☐ Reach out to any subs missing W-9s — send backup withholding notice if no response
- ☐ Review vehicle mileage logs — ensure documentation supports deductions
January: Year-End Compliance Deadlines
- ☐ Issue W-2s to all employees — due January 31
- ☐ File W-2 copies with Social Security Administration (SSA) — due January 31
- ☐ Issue 1099-NEC to all subcontractors/vendors paid $600+ — due January 31
- ☐ File 1099-NEC with IRS — due January 31
- ☐ File 1099-NEC with California FTB — due January 31
- ☐ File Form 941 for Q4 (or Form 944 if annual filer) — due January 31
- ☐ File Form 940 (FUTA annual return) — due January 31
- ☐ File California DE-9 and DE-9C for Q4 — due January 31
January – March: Tax Preparation
- ☐ Produce final year-end P&L, Balance Sheet, and General Ledger for CPA
- ☐ Produce year-end WIP schedule for any projects spanning December 31
- ☐ Reconcile all balance sheet accounts — bank, credit cards, payroll liabilities, retainage, loans
- ☐ Produce depreciation schedule for CPA — all vehicles, equipment, and improvements
- ☐ Gather all 1099s received (from GCs who paid you $600+)
- ☐ File federal and California income tax returns — due March 15 (S-Corp/Partnership), April 15 (Sole Prop/LLC)
- ☐ File California LLC annual minimum franchise tax ($800) — due April 15
- ☐ Renew CSLB license if due this year
Construction Bookkeeping Checklist: QuickBooks Health Check
Run this QuickBooks health check quarterly to catch problems before they become disasters:
- ☐ Run the Balance Sheet — does it balance? (Assets = Liabilities + Equity)
- ☐ Check “Uncategorized Expenses” and “Ask My Accountant” accounts — should be zero or near zero
- ☐ Check Accounts Receivable aging — any invoices more than 90 days old that should be written off?
- ☐ Check Accounts Payable aging — any bills more than 60 days old that should be paid or disputed?
- ☐ Verify all bank accounts are reconciled through last month
- ☐ Check Payroll Liabilities balance — should not have growing unpaid liabilities
- ☐ Run the Profit & Loss report — does it make sense relative to your actual business activity?
- ☐ Check the Opening Balance Equity account — should be zero (if not, there are entry errors)
Certified Payroll Checklist for LA Contractors
If you perform public works in Los Angeles County, follow this checklist for every project:
- ☐ Register with DIR as a Public Works Contractor (one-time, renews annually — $400 fee)
- ☐ Obtain correct prevailing wage determination for your trade and county from DIR website before project start
- ☐ Verify all workers are paid at or above the prevailing wage rate for their classification
- ☐ Submit certified payroll via DIR eCPR system weekly — due by Thursday of following week
- ☐ Maintain certified payroll records for 3 years after project completion
- ☐ Confirm all subcontractors on the project are also registered with DIR and filing CPRs independently
- ☐ Maintain and post notice of prevailing wage requirements at job site
Subcontractor Management Checklist
- ☐ Collect W-9 from every subcontractor BEFORE first payment
- ☐ Verify subcontractor’s CSLB license is active and appropriate for the work at DIR website
- ☐ Obtain Certificate of Insurance (COI) showing your company as additional insured
- ☐ Verify COI shows adequate workers’ comp coverage (do not allow subs with no workers’ comp)
- ☐ Issue conditional lien waiver with every progress payment to subcontractors
- ☐ Collect conditional lien waiver from sub for each progress payment received
- ☐ Issue unconditional lien waiver with final payment to each subcontractor
- ☐ Collect unconditional lien waiver from sub upon final payment
- ☐ Track retainage withheld — release within California’s statutory timeframe after project completion
Too Much to Manage? Let Us Handle It.
This checklist represents dozens of hours of financial management work every month. Most LA contractors aren’t doing all of it — and the gaps cost them money in missed deductions, slow collections, compliance penalties, and lost bonding capacity.
Bookkeeping Champs handles the entire checklist for contractors in Los Angeles, San Fernando Valley, and Ventura County. Every item. Every month. So you can focus on building.
📞 Call (818) 679-4451 for a free consultation. We’ll review which items on this checklist aren’t getting done in your business and show you how to fix it.