SUPPORTING YOUR MISSION

Accounting, Tax & CFO Services for Commercial Construction Firms

From WIP schedules to surety-ready financials, we handle job costing and cash flow so you can focus on the build.

Serving Seattle-area commercial contractors since 1971 · Licensed WA CPAs

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Accounting Built Around How Commercial Contractors Actually Operate

Greenwood Ohlund is a commercial construction CPA for general contractors and specialty subs across the Seattle area. Revenue on a multi-month project isn’t one number at completion, it’s recognized as work happens, tracked against a WIP schedule that shows whether you’re over-billed or under-billed at any given point. Job costs shift with change orders, retainage sits outstanding until closeout, and your surety wants working capital and WIP data that actually holds up before they’ll bond your next job.

We also handle the job costing, WIP reporting, and surety-ready financials that keep your bonding capacity intact, along with the tax planning that keeps more of what you build.

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OUR CLIENTS

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The Challenges Commercial Construction Firms Face and How We Help

We build your WIP schedule against actual costs incurred versus total estimated cost, not against invoicing alone, so you see your real billing position on every job, not just what’s been sent out.

We set up job costing that captures change orders as they happen, not at closeout, so your margins on each project reflect what’s actually happening in the field.

We prepare CPA-reviewed financials with the WIP detail, cost-method disclosures, and working-capital presentation sureties expect, including the adjustments they’ll make to your numbers before you’re surprised by them.

WHAT WE DO

How We Support Commercial Construction Firms

Tax Services

Entity structuring, multi-state tax planning, and long-term-contract look-back calculations, handled by people who know what triggers an IRS review of your revenue method.

Audit & Assurance

Reviewed and audited financials that sureties and lenders trust, with the WIP detail and disclosures they expect to see.

Accounting & CFO Services

Job costing, WIP reporting, and a fractional CFO who understands margins, not just monthly close.

What Makes a Commercial Construction Firm's Accounting Different

Long-term contracts have to use percentage-of-completion accounting under §460, unless you’re a small contractor averaging under $31 million in gross receipts or building four-unit-or-smaller residential. Even then, the look-back method still applies to true up any estimate that ran ahead of or behind actual results. We know which exception applies to you before it becomes an audit question.

Washington taxes custom construction as a retail sale: you collect sales tax from your customer on the full contract price, materials and labor together, but you don’t pay separate sales tax on the materials that go into the project. Get that backwards, and you’re either overcharging clients or underpaying the state. We also prepare the CPA-reviewed financials, with the WIP detail and disclosures sureties expect, and handle certified payroll and prevailing-wage reporting on public projects.

Desk with financial ledger, contract documents, and a hard hat for construction compliance review

We serve businesses like yours

Businesses Like Yours

We work with a wide range of commercial construction businesses, including:

nonprofit accounting services
nonprofit accounting services

Independent and private K-12 schools

nonprofit accounting services
nonprofit accounting services

Preschools and early-childhood centers

nonprofit accounting services
nonprofit accounting services

Charter-adjacent education nonprofits

nonprofit accounting services
nonprofit accounting services

Scholarship funds

nonprofit accounting services
nonprofit accounting services

Education foundations

Why Commercial Construction Firms Choose Greenwood Ohlund

We provide the accounting, tax, and CFO support commercial contractors need to manage job costing, bonding capacity, and cash flow, without adding unnecessary complexity to how you run your business.

Decades in construction and real estate accounting

We’ve been doing this since 1971.

Tax, audit, accounting, and CFO expertise, one firm

Most firms our size don’t offer all four under one roof. You get a tax team, an audit team, and a CFO-level advisory team who already talk to each other, instead of coordinating three separate vendors yourself.

Seattle-rooted, with clients across Washington and beyond

We’re based in Seattle and built around the Pacific Northwest, with clients in other states when the relationship calls for it.

A relationship that runs all year, not just tax season

We’re recognized as a Peak Firm and a PSBJ Washington’s Best Workplaces honoree, and that same culture shows up in how we work with clients: regular conversations and actual availability, not a firm you hear from once a year.

EXPERIENCE THE GO DIFFERENCE

Your Commercial Construction Firms Team

Matt Smith

AUDIT & ASSURANCE

Matt Smith, CPA

Partner

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TAX SERVICES

Paul Jandl

Senior

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TAX SERVICES

Eric Kimpton

Senior Manager

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TAX SERVICES

Riley Stringer

Manager

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TAX SERVICES

Michaela Thomassen

Senior

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Jason Mallon, CPA

CFO & ACCOUNTING SERVICES

Jason Mallon, CPA

Partner

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Andrew Van Ness

AUDIT & ASSURANCE

Andrew Van Ness, CPA

Partner

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Brian

CFO & ACCOUNTING SERVICES

Brian Vinciguerra

Partner

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MEET THE TEAM
RECENT NEWS

Latest Updates and Insights from Greenwood Ohlund

CFO presenting financial information at a board meeting

Why Your CFO Should Attend Board Meetings

September 1, 2026

Better Financial Oversight, Transparency, and Governance Should the CFO Attend Board Meetings? In most organizations, yes, the CFO or senior financial leader should regularly participate in Board meetings, particularly when financial performance, budgets, forecasts, cash flow, organizational risk, or long-term strategy are being discussed. The reason goes well beyond presenting financial statements. Having the CFO at the Board table creates

Read More »

Switching Banks? What Small and Medium-Sized Organizations Should Consider

August 4, 2026

Changing banks can create meaningful benefits for a small or medium-sized organization. A new banking relationship may offer better technology, improved customer service, lower fees, stronger fraud controls, greater borrowing capacity, or products that better support the organization’s growth. However, switching banks is rarely as simple as opening a new account and transferring the cash. Bank accounts are often connected

Read More »
IRS Form 990 transparency changes affecting nonprofit fiscal sponsorship reporting

The Form 990 Rarely Changes – So Why Is Everyone Talking About Fiscal Sponsorships?

July 29, 2026

Key Takeaway: While no new Form 990 reporting requirements have been proposed, recent statements from the U.S. Department of the Treasury suggest the IRS is taking a closer look at how nonprofits receive and manage funding. Now is a good time to review your gift acceptance procedures—particularly for fiscal sponsorships—to ensure your organization is well positioned if future reporting or

Read More »
Recent News

Insights for Commercial Construction Firms

University Child Development School

Client Spotlight Q&A: University Child Development School

May 12, 2026

When did GO start working with UCDS, and how has this partnership evolved over the years?
 GO has proudly partnered with UCDS since 2022 to support the school’s financial stewardship and long-term sustainability. Over time, that partnership has evolved alongside the school’s growth and continued focus on innovative education, strong governance, and mission-driven planning. In what ways does the GO

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Ballard Food Bank

Client Spotlight Q&A: Ballard Food Bank

April 2, 2026

Ballard Food Bank When did GO start working with Ballard Food Bank, and how has this partnership evolved over the years? GO has proudly partnered with Ballard Food Bank since 2010, beginning with onsite monthly accounting support. In 2020, our relationship evolved to providing their annual audit and Form 990 preparation. In what ways does the GO Team support the

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FAQ

Commercial Construction Firms Accounting FAQs

A WIP schedule tracks costs incurred against estimated total cost on every open job, showing whether you’re over- or under-billed. Sureties want it because it’s the clearest evidence of your actual financial position. We build and maintain it for you.

Most long-term contracts require percentage-of-completion accounting under Section 460, unless you qualify as a small contractor or the project is small residential. We determine which method applies to your contracts and set your books up accordingly.

Retainage sits as a separate receivable until the job reaches substantial completion or closeout, not as part of your regular operating cash flow. We track it separately so you know what’s collectible now versus later.

Sureties generally want CPA-reviewed or audited financials with detailed WIP schedules and working-capital disclosures, not internally prepared statements. As a construction accounting firm in Seattle, we prepare financials in the format underwriters expect.

Job costs need to be tracked by project, not just by category, so change orders and labor allocation show up where they actually happened. We help you set up job costing that reflects real project performance, not just year-end totals.

A bookkeeper can keep your books current. A contractor CFO helps you read what those books mean, for bidding, cash flow, and bonding capacity. We offer both, scaled to what your business needs.

CONTACT US

Let's Build a Stronger Foundation for Your Construction Firm

WIP schedules, surety-ready financials, or job costing that reflects what’s happening in the field – we can take it from here. Reach out and we’ll start with a conversation about what your firm needs.

Greenwood Ohlund, PS
4241 21st Ave W, Suite 400, Seattle, WA 98199
(206) 782-1767