Construction
Contractor payments, loan draws, and a cost-overrun forensic audit
Provided rapid staffing on a scaling ground-up construction business, running contractor and subcontractor payment operations, bank loan draws, and a downstream cost-overrun audit.
Anonymous Director
Director
Ground-up construction
01
The problem
- Ground-up construction projects scaled faster than the in-house accounting could keep up with.
- Construction-specific work: contractor and subcontractor invoice management, payment processing, construction loan draws from banks.
- Later, once projects stabilized, visibility into construction cost overruns was missing.
02
The engagement
- Phase 1, Staffed quick-turnaround support that integrated into the client's existing systems, then executed invoices, payments, and bank loan draws end-to-end.
- Phase 2, Stood up a team of Construction Accountants for a forensic review of invoices and contracts.
- Phase 2, Categorized line items and produced a cost-overrun dashboard for the client's leadership team.
03
Outcomes
- Flawless execution on contractor and subcontractor payments and bank loan draws during the scaling phase, per the client.
- Forensic audit identified and categorized the source of construction cost overruns.
- Delivered a custom cost-overrun dashboard for ongoing management.
- Client recommendation: "I strongly recommend them."
“When our ground up construction projects scaled quickly and required expert accounting skills to manage contractor and subcontractor invoices and payments, as well as construction loan draws from banks, we turned to Remote Financial Services to provide us quick staffing support. They integrated into our systems and executed flawlessly, invoices, payments, bank loan draws. Later, when we needed expert advisory to understand and pinpoint our construction cost overruns, Remote Financial Services staffed us with a team of Construction Accountants and that combed through our invoices and contracts, categorized, and created a dashboard. I strongly recommend them.”
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