Monthly bookkeeping & close
Accurate categorization of materials, labor, permit costs, subcontract costs, overhead, and revenue. Full monthly close with P&L and balance sheet so you always know where the money went.
Bookkeeping for electrical contractors
Bookkeeping built for electricians.
Job costing per project, subcontractor 1099s, journeyman and apprentice payroll with correct workers' comp classification, materials vs labor tax treatment, and a live dashboard — so you know which jobs are profitable, not just which ones are busy.
Ricky West — Founder, TurnkeyCFO
We work with electrical contractors on job costing, subcontractor compliance, payroll classification by license level, and books that show you which jobs, customers, and service types are actually driving your margin. We coordinate with your CPA on tax filings.
Solo–20+crew sizes served
100%client retention
Fastresponse times
QuickBooks Online · Gusto · Ramp — professional liability insured — month-to-month, 30-day notice
Book your 15-minute intro call.
Pick a time right here — no prep required.
Generic bookkeepers miss what drives profit in electrical contracting.
Electrical jobs live and die on labor efficiency and material management. Without job-level cost tracking, you can't tell which job types and customers make you money — or why a busy month still leaves the bank account thin.
What changes with TurnkeyCFO
What TurnkeyCFO handles
- Job costing by project type — service calls, new construction, commercial tenant improvements — so you see margin by work category
- Subcontractor W-9s collected at first payment; 1099-NEC filed by January 31
- Payroll by license level: master electrician, journeyman, apprentice — correct workers' comp code per classification
- Materials vs labor tax treatment separated from day one
- Live dashboard: revenue by job type, cost per job, outstanding receivables
What most bookkeepers miss
- All jobs lumped as "electrical services" — no margin visibility by project type
- Subcontractor 1099s missed, especially for subs on a single project
- All crew members coded to the same workers' comp class — overpays premiums
- Materials and labor taxed the same — wrong sales tax remittance
- No job-level profitability — can't identify which customers or job types to prioritize
Everything your electrical business needs. Nothing it doesn't.
Built for how electrical contractors operate — licensed crews, permit-tracked jobs, subcontractors, and material-heavy projects.
Job costing & profitability
Every project tracked from bid to close — conduit, wire, fixtures, fixtures, labor hours, and subcontract costs allocated per job. Service calls, new construction, remodels, and commercial work tracked separately so you know which work type earns the best margin at your current pricing.
Licensed crew payroll
Payroll for master electricians, journeymen, apprentices, and office staff — each coded to the correct workers' comp classification. Correct FICA, correct comp rate, quarterly 941 reconciliation via Gusto.
Subcontractor 1099 tracking
W-9 before the first payment, payments tracked against the $600 threshold, 1099-NEC filed by January 31 — even for subs used on a single project. No scrambling in January, no IRS penalties.
Bill pay & AP
Supplier invoices, material purchases, and vendor payments handled so your accounts payable is current and your books close on time.
Vehicle & tool tracking
Work vans and major equipment tracked as fixed assets with correct depreciation schedules — reconciled to your CPA's tax categories so Section 179 and bonus depreciation deductions are fully documented.
Live financial dashboard
Revenue by job type, gross margin by service category, outstanding receivables, and cash flow forecast — updated monthly so you make business decisions with real data.
Tax filings and legal matters — coordinated with your CPA or attorney. TurnkeyCFO is a bookkeeping firm; we don't provide tax or legal advice.
Deep working knowledge of electrical contractor finances.
Job costing, license-level payroll, and the material-vs-labor margin question — the realities most bookkeepers have never touched.
Job costing for electricians
Service calls, new construction, and commercial TIs all have different margin profiles.
Labor-hour efficiency is your real lever in electrical work. Without tracking labor hours, material costs, and subcontract costs per job, you can't tell which project types or customers are actually profitable — or which jobs to walk away from at the bid stage.
Workers' comp by license level
Master electrician, journeyman, apprentice — different comp rates.
Workers' comp premiums are calculated on payroll by classification code. A master electrician and an apprentice carry different rates. Misclassifying all crew members under one code overpays premiums and creates audit exposure at policy renewal. We set up and maintain correct classification from day one.
Subcontractor compliance
One-job subs are the most common 1099 miss.
Electrical contractors often bring in specialty subs — low-voltage, fire alarm, generator — for a single project. Each one paid $600+ needs a W-9 at first payment and a 1099-NEC by January 31. We track from day one regardless of job count.
Materials vs labor tax treatment
Materials are typically taxable. Labor on repair jobs often isn't.
Most states tax the sale of tangible property (wire, breakers, panels) separately from labor on repair and maintenance jobs. Lump-sum bids can trigger tax on the whole contract in some states. We separate your invoices correctly from day one so you're collecting and remitting the right amount.
Permit & bond cost tracking
Pull costs belong in job overhead, not general expenses.
Permit fees, inspection costs, and bonding expenses tied to a specific job are job overhead — not general operating expenses. Lumping them into overhead distorts job-level margin and makes it impossible to bid accurately. We allocate these to the correct job from the first invoice.
Vehicle & equipment depreciation
Vans and major tools are assets with multi-year schedules.
Work vans, bucket trucks, and major test equipment are fixed assets. Section 179 and bonus depreciation can accelerate deductions in the purchase year — your CPA decides the strategy, we keep the books in the format that supports it. Mileage vs actual expense documented and reconciled.
Onboarding takes days, not months.
Simple, fast, and designed not to pull you off a job.
15-min intro call
We learn your business — crew size, license mix, job types, current software, and where the books are breaking down.
Books & access review
We connect to QuickBooks, clean historical data, and set up job costing and payroll classification around your operation.
Live visibility
Monthly close package, job profitability dashboard, and subcontractor compliance workflows running clean — every month.
Questions electrical contractors ask us first
Do you replace our CPA?
No — we work alongside your CPA. We keep books clean and filing-ready year-round. If you need a CPA who understands contractors, we can refer one.
Can you set up job costing in QuickBooks?
Yes. We set up QuickBooks job costing around your project types — service calls, new construction, commercial TIs, remodels — and allocate materials, labor, and subcontract costs per job so you see margin by project type, not just totals.
How do you handle different workers' comp rates for my crew?
We set up payroll with the correct workers' comp classification code for each role — master electrician, journeyman, apprentice, office staff. Premium is calculated at the correct rate per class. Correct from day one, reconciled at policy renewal.
What if I use a specialty sub for one job?
We track every sub from first payment, even single-job subs. W-9 before the first check, payments tracked against the $600 threshold, 1099-NEC filed by January 31. Single-project subs are the most common source of missed 1099s.
Do you work with ServiceTitan, Jobber, or other field service platforms?
Yes. We integrate your field service software with QuickBooks so revenue, job costs, and receivables sync correctly — no double entry.
Is our data secure?
Everything lives in QuickBooks Online, Gusto, and Ramp — enterprise-grade platforms with role-scoped access. We maintain professional liability insurance.
Can we cancel?
Month-to-month, 30-day notice. No multi-year contracts.
How much does this cost?
Our instant estimate takes about 60 seconds and gives you a real price range based on crew size and job volume. Tap any "Instant Estimate" button on the page.
Ready to know which jobs actually make money?
Get your instant estimate, then book a 15-minute call. No pressure, no sales pitch.