Construction company accounting is the process of recording and tracking the financial transactions of a construction business. It involves the documentation of all expenditures related to materials, labor, overhead, taxes, and other miscellaneous costs associated with building projects. Additionally, it involves the tracking of funds received from project payments, accounts receivable, and investments. A well-run construction business should use accurate and up-to-date accounting to ensure efficient operations, as well as compliance with IRS regulations. Proper construction company accounting helps a business make sound business decisions by providing an objective look at their financial situation.