Accounting and Financial Outsourcing

Article Danielle Camara

It’s January, the start of a new year. 2026, let’s go!

If you’re a business leader, board member, department manager or simply an intentional go-getter, you’re wrapping up your goals for the year ahead.

You’ve reviewed 2025. You’ve celebrated your wins and learned from your losses. Now, 2026 is poised to be amazing.

Your whiteboard is full of ideas and plans for the year. You’ve even used three different colors to prioritize initiatives. You asked ChatGPT to evaluate your plan and subscribed to the premium version because you only want the best from your AI buddy. You built forecasts in complicated spreadsheets, even learning how to link cells between sheets. You figured out Canva so you could launch a marketing campaign, and dang it; your circles and squares look pretty good. Last night, you sent the team an invitation to the 2026 kickoff summit, scheduled for this Friday at a venue you haven’t secured yet.

2026 is going to be awesome! But let’s pause for a moment and make sure the house is in order.

Ask yourself:

  • Do you have a process to track and measure all this success?
  • Is your accounting function, including your team, software, and processes, ready?
  • Are your financial reports aligned with your 2026 initiatives and goals?
  • Will you be notified promptly if operations are not going as planned?
  • Can you tell if you’re winning or losing with a quick glance at your financial dashboard?

If you answered “no” to any of these questions, you may not have the accounting infrastructure needed to support your plans for 2026.

Yes, adding accounting to a conversation about goals can feel like a box of New Year’s fireworks that fizzles instead of explodes. But if you want your business to explode in a good way rather than fizzle in 2026, your accounting function needs to be in order.

That’s where Dean Dorton’s Accounting and Financial Outsourcing (AFO) services come in. We handle your accounting so you can stay focused on achieving your organization’s goals.

Our team of accounting professionals uses cloud-based technology to manage your accounting processes, which may include:

  • Recording vendor invoices
  • Vendor payments
  • Customer invoicing
  • Cash flow forecasting
  • Month-end close
  • Customized reporting and dashboards
  • Collaboration with tax preparers
  • Budgeting
  • Key performance indicators
  • Insights from a 600-person accounting and advisory firm

You have a plan for 2026 to be an exceptional year. Don’t let your accounting function become an obstacle. Let us be the partner that ensures your accounting is an asset in pursuit of your goals.

My name is Justin Hubbard, and I am the director of the Accounting and Financial Outsourcing team at Dean Dorton. I would be thrilled to discuss your plans for 2026 and how we can help support them.

Article Autumn Hines

For several years, it’s felt like the economy has been teetering on a cliff. Are we headed for a deep recession or a period of sustained economic growth? One can point to various economic indicators in today’s confusing economic landscape and get mixed signals. In these uncertain times, it’s more important now than ever to shore up your business’ accounting functions. With accurate financial reporting and forecasting, your company will be better prepared to face whatever macroeconomic conditions lie ahead. The construction industry is infamously cyclical and often considered a leading economic indicator. In fact, many economists point to building permits, construction spending, and architectural billings as a sign of what’s to come. This means there’s not much warning when things go south in the industry. With that said, your business must have access to timely and accurate financial statements for quick decision-making. Our outsourced accounting team can help.  

With Dean Dorton’s Accounting and Financial Outsourcing (AFO) Construction team, you get industry experience at a fraction of the cost. Our construction team has industry experience in corporate accounting, project management, estimating, and assurance services. With our AFO construction team, you get an accountant and a trusted partner who can help guide business decisions. Our services can be tailored to your specific needs.  

Common Service Offerings

Client Assessments

By diving into the details, we can assess your current accounting processes and recommend solutions for more accurate and timely financial reporting and strengthened internal controls. By taking an extensible approach to serving clients, we have a good pulse on best reporting practices across the industry. In a matter of weeks, you can be well on your way to more streamlined and accurate financial reporting for your business. 

Outsourced Transactional Accounting

We can act as a true back-office support system, assisting with daily functions such as accounts payable and general ledger reporting. With our back-office support, you can reduce your business’ accounting overheads while putting your mind at ease with continuity of service. You’ll no longer own the headache of employee turnover and lost knowledge; allow our team to plan for that. 

Month-End Support

We can provide controller-level review and insight into the financials with close assistance at the end of the month and financial statement preparation. With our high-level review throughout the year, surprises can be avoided, and your accounting function can become more strategic and less compliance-driven. 

Cash Flow Projections

Cash management is critical in the construction industry. Our team is equipped to help forecast cash inflows and outflows for managing the business. 

Ad Hoc Projects

Our services are tailored to your individual needs. With our diverse industry experience, we can offer insights into many business functions. We can apply our insights to prepare WIP schedules, analyze indirect cost allocation to open contracts, improve interdepartmental communication flow, and more. 

CFO Services and a Holistic Approach

Our CFO services provide strategic financial leadership to help drive business growth and profitability. By integrating our CFO expertise with our broader service offerings—including AFO, tax planning, and IT consulting—we provide a holistic approach to business success. 

In the age of labor shortages, high inflation, increased borrowing costs, and tightened bank credit, everyone in the industry must refine their accounting processes for more informed decision-making. Hiring an outsourced controller/CFO is a great option.

Dean Dorton is one of the Top 50 Construction Accounting Firms™, as named by Construction Executive. Please contact Dean Dorton’s construction team if you would like to learn more about our AFO offerings and any other service offerings we provide our construction clients.

Article Autumn Hines

One of the greatest financial tools for a contractor is a Work-in-Progress (WIP) schedule. If you’re unfamiliar with it, a WIP schedule tracks the financial performance of ongoing projects using the percentage-of-completion method for recording revenue. It can be used to track job progress and profitability, over and under-billings, contract values, change orders, estimated costs to complete, and even backlog. That’s quite a bit of insight gained from one report! 

In my experience preparing and analyzing WIP schedules across the industry, I’ve found some patterns of common mistakes. Thankfully, Dean Dorton’s Accounting & Financial Outsourcing (AFO) Construction team can provide resources for navigating the complexity of WIP schedules. Below is a summary of the mistakes I commonly see. 

Treating the WIP Schedule as a Compliance Task 

Too many contractors view the WIP schedule as a compliance tool, just another hoop to jump through at year-end for my CPA, surety, or bank. While it’s true that you will need a WIP schedule to comply with ASC 606 under GAAP, a WIP schedule is so much more than a compliance hurdle to jump through. An accurate WIP schedule can provide deep insight into job profitability, project cash flow, and historical data for project bidding. Consider the WIP schedule as another tool in your toolbox. Rely on it to make educated cost decisions and to hold team members accountable for project performance. 

It’s worth mentioning that an accurate WIP schedule doesn’t come easy. It takes work to implement, maintain, and review. Invest the time to prepare the schedule. Dean Dorton’s AFO Construction team can lighten the load to implement, prepare, and analyze this report for your business’ success. 

Using Inaccurate or Outdated Cost Budgets

Under the percentage-of-completion method, the estimated cost budget drives the entire calculation for recognizing revenue. If the budget is wrong, so will the rest of the schedule. Be sure to update cost budgets frequently. The accounting team should seek direct input from the project manager to better understand where job costs will land at project completion. The best practice is to schedule periodic meetings for the accountant and project manager to review this report at the individual project level. 

Improper Change Order Management

Incorrectly reporting change orders on the WIP schedule can cause material swings and errors in job cost reporting. First, you must know when a change order amount should be added to the contract value. Does the change order need to be signed and approved or reasonably recoverable? Our team can help navigate this complexity. 

Another common mistake is adding the change order to the contract amount but not adjusting the project’s cost budget. Be sure to adjust both. While this may appear to be an obvious mistake to avoid, it happens a lot. 

Frequency in WIP Schedule Preparation

Not all contractors are the same; the frequency with which you prepare a WIP schedule will differ depending on your size and complexity. I usually recommend preparing and updating a WIP schedule as part of the monthly accounting close cycle. In some cases, this may not be feasible or time-worthy. At a minimum, I would expect to see a WIP schedule prepared quarterly so that surprises at year-end are minimized.  

In determining the frequency of WIP schedule preparation, be sure to consider the project duration of your backlog. You’ll want to prepare a WIP schedule to measure results as the project progresses and frequently enough to allow time to make course corrections when necessary.  

Not Reconciling the WIP Schedule to the General Ledger

To build trust in your WIP schedule, it’s critical to reconcile both revenue and cost to your general ledger. With a proper tie-out, users can more comfortably rely on the WIP schedule for project decision-making. Reconciliation can be simplified using a clean Chart of Accounts structure and a detailed work breakdown structure at the project level. Many ERP systems offer job costing modules that can simplify the process of tracking job costs. Be sure to leverage your technology to its utmost potential. 

Focusing Solely on Profitability and Not Project Cashflow

The WIP schedule not only reports job profitability, but it can also be a tool to track cash flow at the project level. All contractors will want to analyze the underbillings and overbillings on their contracts, along with open accounts receivable and accounts payable at the project level. Underbillings result when the revenue earned through the percentage-of-completion method is greater than billings to date. Net underbillings mean work has been performed but not billed, which would cause concern and deserve deeper analysis. No contractor wants to act as a lender to the project owner. On the other hand, overbilling can occur when you’ve billed for more than the revenue recognized using the percentage-of-completion method. Being overbilled is advantageous because it acts as a way for the project owner to finance the project rather than the client. In fact, frontloading the project with higher profit recognition in the early phases of the job is common for this exact reason, as it provides the contractor with more working capital. However, contractors should ensure they are collecting cash on their overbilling promptly. 

As you can see, managing WIP is a nuanced topic. If you feel a bit overwhelmed after reading the list above, that’s okay! With hands-on construction industry experience, our team can provide customized assistance that meets your company’s specific needs. We have the knowledge to implement, prepare, and analyze WIP schedules and act as a trusted advisor to your business.

Dean Dorton is one of the Top 50 Construction Accounting Firms™, as named by Construction Executive. Please contact Dean Dorton’s construction team if you would like to learn more about our AFO offerings and any other service offerings we provide our construction clients.

Article Autumn Hines

If your idea of financial leadership involves staring at spreadsheets until your eyes glaze over, we need to talk. While accurate accounting is great (and we love a fully reconciled ledger as much as the next accountant), today’s business world demands more than knowing where every penny went.  

Strategic Financial Leadership – Own Your Stuff  

My household of two adults, two teenagers, two preteens, and a mutant poodle dog has a mantra: “Own Your Stuff.”  

Strategic financial leadership is owning your organization’s stuff.  We are talking about your money, performance, goals, relationships, strategy, risks, and STUFF.  Strategic financial leadership is not passively looking at financial statements from 90 days ago and managing operations via bank balance.  Think of it as looking over the horizon, forecasting, budgeting, and blending operational data with financial data to track real-time progress.  What if your financial function kept you attuned to the pulse of your business today, not looking at a photo album from last month to see what you did?  

Here’s what modern financial leadership looks like when it’s proactive and not looking backward through a rearview mirror:  

Long-term Planning  

  • Running “what-if” scenarios (because hope isn’t a strategy)  
  • Making sure your capital structure can weather future storms  
  • Mapping growth plans that don’t require a crystal ball  

Risk Intelligence  

  • Proactively identify financial risks before they identify you  
  • Understanding key relationship impacts (admit everything is linked)  
  • Working capital strategies that keep cash flowing (and your stress levels low)  

The Value of an Advisor  

There are levels to everything.  Some organizations need a full-time Chief Financial Officer (CFO).  Let’s be honest, though: for many organizations, hiring a full-time CFO is like buying a Ferrari for your grocery runs.  An outsourced fractional advisor is a great alternative to hiring a full-time CFO to provide financial leadership.  Here’s what you get with an outsourced advisor:  

Swiss Army Knife of Expertise  

  • Access to a broad range of experience (good and bad) across numerous organizations  
  • Depth of resources beyond what can be developed internally (learn from someone else’s trials and errors)  
  • Fresh eyes that aren’t jaded by office politics or biased by organizational history (and impervious to your version of Negative Ned)  

Flexibility Without the Commitment  

  • Expertise when you need it   
  • Cost that won’t make your accountant cry (no benefits, no office space, one less meal at the company picnic)  
  • Proven systems ready to roll (no reinventing the wheel)  

Built-in Safety Net  

  • A whole team of experts to leverage  (because two heads are better than one, and five are better than two)  
  • Continuity of service that evolves with your business (no more depending on tribal knowledge)  
  • Real-world experience with emerging financial tools and technologies (we test the waters so you don’t have to)  

Be Confident

Strategic financial leadership doesn’t just give you good numbers; it gives you CONFIDENCE to make the right decisions for your organization. Partnering with an advisor could be a key way to gain confidence in your accounting function through strategic financial leadership.    

Reach out if you have questions about what strategic financial leadership could look like in your organization.

Coming Soon: When Data Tells a Story  

Next month, we’ll explore how data analytics transforms financial decision-making. Don’t worry—we’ll minimize the jargon and maximize the insights . 

Article Dean Dorton

Key Performance Indicators, or KPIs for those who can’t resist a good acronym, are the corporate world’s way of turning the messy, unpredictable nature of business into neat little numbers, graphs, or even emoticons! 

KPIs as Your Guide

KPIs serve as navigational tools, allowing companies to: 

  • Measure progress toward strategic goals  
  • Identify areas needing improvement (perhaps adding salt to a wound) 
  • Make data-driven decisions (does anyone make gut-based decisions anymore?) 
  • Align team efforts with organizational objectives  
  • Benchmark performance against industry standards or competitors (don’t’ fall behind!) 

Effective KPIs Should Be S.M.A.R.T.

  • Specific and clearly defined (like the specials at your favorite lunch restaurant) 
  • Measurable and quantifiable (because if you can’t measure it, does it even exist?) 
  • Actionable, providing insights for improvement (“there is no try”) 
  • Relevant to business objectives  
  • Time-bound with regular reporting intervals  

5 Common KPIs for Any Size Businesses

  • Net Profit Margin – Net profit / total revenue  
  • Customer Acquisition Cost (CAC) – Total marketing and sales divided by number of new clients 
  • Employee Turnover Rate – Number of employees who left divided by the average number of employees for a period 
  • Inventory Turnover Ratio – Cost of goods sold divided by average inventory 
  • Revenue per Customer – Total revenue divided by the number of customers 

KPIs work best when they are updated in real-time and accessible (versus antiquated and hard to find). KPIs are often displayed on a financial dashboard. There is no shortage of options when it comes to tools that provide KPIs and dashboards. Find a solution that integrates with your accounting platform for the best results. 

When implementing KPIs, remember to choose metrics that align closely with your specific business goals and industry. Regularly review and adjust your KPIs to ensure they continue to provide valuable insights as your business evolves. Remember, the goal is not to track every metric possible but to focus on those that most effectively guide your business toward its objectives. 

By carefully selecting and monitoring these KPIs, businesses can gain valuable insights into their operations, make data-driven decisions, and drive sustainable growth. 

Please contact us if you would like to learn more about KPIs. Dean Dorton has expertise across multiple industries that can help you identify the information that drives your business and develop KPIs to help you meet your goals. 

Article Autumn Hines

Things change. Some changes are improvements, some are not. Being stagnant is not an option so owning and steering change becomes a competitive advantage. Companies that embrace a culture of continuous improvement recognize that the journey toward perfection is perpetual. It is a cultural goal, not a destination. Outsourced accounting services have emerged as a catalyst for this transformative process, offering more than just cost savings—they provide a strategic advantage in fostering innovation and efficiency. 

The Foundation of Continuous Improvement

Continuous improvement is like a corporate gym membership. The organization talks about it, but few people pursue it. Continuous improvement is a systematic, long-term approach to enhancing services, processes, and products through incremental and breakthrough improvements. It is rooted in the philosophy that every aspect of operations can be improved. This mindset is crucial in accounting, where precision and timeliness are paramount. 

Outsourced Accounting as a Change Agent

Believe it or not, accountants can drive change! Outsourced accounting services bring fresh perspectives and specialized expertise to the table. They are not bound by the ‘this is how we’ve always done it’ mentality, which often hinders innovation within in-house teams. By partnering with a firm like Dean Dorton, which specializes in accounting, companies can tap into a pool of professionals who are continuously exposed to diverse challenges and solutions, thereby bringing in innovative ideas and practices that can trigger a chain reaction of improvements. 

Leveraging Expertise

Your problems may not be as unique as you think they are. Dean Dorton’s outsourced accounting professionals work with a variety of clients, each with their unique problems and challenges. The Dean Dorton team focuses on industries such as equine, healthcare, nonprofit, and family office to provide industry-specific expertise. We are like accounting tourists, collecting souvenirs of best practices and innovative solutions from each client we visit.    

Technology Integration and Automation

The accounting world is not known for having cool toys, but we have some very cool toys. The integration of innovative technologies is a significant aspect of continuous improvement in accounting. Dean Dorton’s outsourced accounting services provide access to advanced software and tools (such as Sage Intacct) that may not be feasible for every company to invest in independently. Our goal is to automate mundane tasks, use tools such as data analytics, dashboards, and key performance indicators to drive better decision-making. 

A Partnership for Growth

Dean Dorton’s outsourced accounting is not just a service—it’s a partnership. We work together with our clients to understand their vision and goals. We contribute to creating a roadmap for continuous improvement, aligning financial strategies with business objectives, and ensuring that every step taken is a step towards greater success. 

Conclusion

In conclusion, building a culture of continuous improvement is essential for companies aiming to stay ahead of their competition. Dean Dorton’s outsourced accounting services play a pivotal role within the competitive business landscape our clients face. We provide the expertise, technology, and innovative practices necessary to drive a culture of continuous improvement.  

Let us help your organization build a culture of continuous improvement through outsourced accounting. This will not only enhance your financial operations but also instill a broader organizational ethos of excellence and innovation. 

If you would like to learn more about how Dean Dorton’s outsourced accounting team can drive innovation and continuous improvement within your organization, please contact Justin Hubbard.