As the construction season winds down and year-end approaches, November becomes one of the most critical months for financial preparation. The work you complete now directly impacts your tax filings, WIP reporting, cash flow stability, and overall profitability heading into the new year.
Unlike December—when schedules tighten, offices close, and crews shift to holiday mode—November still gives you time to correct errors, organize documentation, and prepare your books without the last-minute rush.
This guide breaks down the most important November accounting tasks construction companies must complete—and how Buildertrend + QuickBooks integration streamlines the entire process.
1. Verify Subcontractor Documentation & Prepare for 1099s
1099 filing deadlines hit fast in January, and missing or incorrect contractor info can lead to penalties. November is the ideal time to get ahead.
Key Tasks
- Collect missing W-9s from all subcontractors
- Verify legal business names, addresses, and EINs
- Confirm vendor payment totals in QuickBooks
- Identify contractors who require 1099-NEC or 1099-MISC filing
- Reconcile outstanding subcontractor invoices
Why November?
If corrections are needed, you still have time to get updated documentation before the holidays slow down responses.
How Buildertrend + QuickBooks Helps
- Vendor bills entered in Buildertrend sync to QuickBooks, providing accurate year-to-date totals
- Job-costed subcontractor invoices help you confirm reporting accuracy
- Digital documentation storage ensures W-9s stay collected and organized
2. Prepare and Update Your Work-In-Progress (WIP) Schedule
Your WIP schedule is one of the most important financial documents your CPA uses for tax planning and year-end reporting. If you manage multiple projects, billing methods, or retainage, accuracy is critical.
Key Components to Review
- Percentage of completion for each active job
- Cost-to-complete estimates
- Overbilling and underbilling positions
- Open change orders (approved vs. unapproved)
- Unbilled job costs and outstanding purchase orders
Why November?
Your WIP should be dialed in before tax strategy decisions are finalized in December.
How Buildertrend + QuickBooks Supports WIP Accuracy
- Real-time cost tracking ensures you’re using current numbers
- Budget vs. actual reports highlight variances and missing costs
- Progress billing and stored materials tracking prevent revenue misstatements
- Change order management ensures accurate projected profits
3. Reconcile October Financials and Clean Up Job Costs
Job costing accuracy directly affects profitability reporting. Before you move into December, every job should reflect the true costs incurred to date.
Technical Cleanup Checklist
- Reconcile all bank and credit card accounts
- Match vendor invoices to POs and job budgets
- Confirm payroll and labor allocation accuracy
- Ensure equipment charges, rentals, and fuel are coded properly
- Correct misallocations between jobs or cost codes
Key Red Flags to Look For
- Negative job cost categories
- Duplicate vendor bills
- Unapplied vendor credits
- Job budgets showing cost overruns with missing revenue
Integration Advantages
- Buildertrend time entries sync into QuickBooks for precise labor costing
- Cost code mapping keeps budgets clean and consistent
- Errors can be corrected in QuickBooks with updated totals flowing back into reports
4. Push AR Collections Before the Holiday Slowdown
The period from Thanksgiving to New Year’s is historically challenging for collections. Getting ahead now protects your cash flow.
November AR Priorities
- Send follow-up reminders for overdue invoices
- Confirm retainage balances and release schedules
- Reconcile progress billing to actual work completed
- Resolve disputes while clients are still responsive
- Ensure deposits and progress payments match contract terms
How Buildertrend Helps
- Automated invoice reminders
- Client portal access to outstanding invoices
- Progress billing visibility ensures alignment with contract milestones
5. Review Payroll, Labor Costs & Compliance Documentation
Labor is often the largest expense on any construction job, making payroll accuracy essential.
Technical Tasks to Complete
- Verify all employee information (tax forms, mailing addresses, classifications)
- Review year-to-date labor burdens (workers comp, payroll taxes, benefits)
- Ensure subcontractor vs. employee classifications are compliant
- Prepare prevailing wage and certified payroll documentation if applicable
Payroll Data Integration
- Buildertrend time cards sync into QuickBooks payroll, reducing data entry
- Job-costed labor ensures accurate WIP reporting and job profitability analysis
6. Meet With Your CPA for Pre-Year-End Tax Planning
November is the sweet spot for tax strategy. Waiting until December often limits your options.
What Your CPA Needs from You
- Updated financial statements
- Accurate WIP schedule
- Current AR and AP aging
- Capital purchases and depreciation schedules
- Profit projections through December
Common November Tax Planning Decisions
- Section 179 or bonus depreciation timing
- Owner distributions vs. retained earnings strategy
- Estimated tax payment adjustments
- Forecasting year-end cash needs
7. Organize Receipts, Documentation & Digital Files
Document organization is one of the biggest time drains during tax season if not done early.
What to Complete in November
- Sort receipts by job, category, and vendor
- Upload missing financial documents into Buildertrend or QuickBooks
- Organize loan documents, contracts, and insurance certificates
- Archive completed job files
Why This Matters
A clean documentation trail reduces CPA cleanup fees and ensures faster tax filing.
Conclusion: November Is Your Last Chance to Prepare—Don’t Waste It
November is the month where preparation meets opportunity. The companies that take these steps now avoid the December scramble, reduce tax-time stress, and gain clarity on their true year-end profitability.
With Buildertrend + QuickBooks working together—and a strong bookkeeping partner supporting your workflows—you can close the year with confidence, accuracy, and a plan for stronger profits in 2026.
