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Sectors

Some Major Sectors We Provide Services

Construction Workers at Work

Construction

Specialized Accounting Services for the Construction Industry

The construction industry faces a unique set of challenges that many other industries do not, such as insurance and bonding requirements, labor issues, and a highly competitive bidding process - all of which vary from contract to contract.
If you operate a construction management firm, or are a general contractor, subcontractor, residential developer, or own a business in the construction-related trades, you need an accounting firm that understands your business.
We're that firm.
Not only do we stay current on tax law changes affecting the construction industry, but we also maintain relationships with third-party professionals, including real estate professionals, attorneys, and bankers and prepare the financial documents needed to obtain financing from creditors, banks, suppliers and bonding companies. Furthermore, you’ve come to the right place if your goal is to increase profitability.

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Our Construction Accounting Services

We offer a range of accounting and advisory services, from mergers and acquisitions and strategic planning to financial reporting compliance and construction audits. Here’s what else we do for you:

  • Financial statements - reviews, compilations, and audits

  • Financial reporting systems - review and implementation

  • Review internal project controls

  • Contractor dispute resolution

  • Construction audits

  • Tax return preparation

  • Payroll

  • Business valuation and succession planning

Healthcare

Accounting Services for Healthcare Providers

Healthcare is complicated, and as you may have discovered, it takes much more than medical or healthcare industry expertise to build and maintain a successful medical practice. Fortunately, our team of experienced accounting professionals is here to help. Not only do we work with you to strengthen your accounting procedures and processes to manage your business more effectively, but we also help you improve your bottom line by reducing operational costs and identifying opportunities to build your healthcare practice.

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Here’s what else we do for you:

  • Payroll processing

  • Financial reporting and monthly/quarterly statements, including profit and loss

  • Tax preparation services

  • Tax planning

  • Cash flow and budgeting analysis

  • Audits, compilations, and reviews

  • Starting a new practice, including entity selection

Our Healthcare Clients Include:

  • Outpatient medical facilities

  • Physical Therapists

  • Medical doctors (group practice or sole practitioner)

  • Pharmacies

  • Podiatrists

  • Optometrists

  • Chiropractors

  • Long-term care facilities

  • Medical-related businesses

Scientist Using Microscope
Hotel Reception

Hospitality

Our specialized accounting knowledge has helped numerous hotels, resorts, restaurants, and other hospitality-related businesses thrive, and we’re ready to help you too. Your customers deserve top-notch service, and so do you.

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Accounting Services for the Hospitality Industry

Competitive and cyclical in nature, many restaurants and hotels operate on a slim margin, subject to the whims of tourism trends, weather, and other factors beyond anyone’s control.
From assistance with financing options to structuring “the deal” and projecting revenues, it’s vital to use a tax and accounting firm that understands the financial and operational challenges businesses face in the hospitality industry.

When hiring accounting and tax professionals specialising in hospitality-related businesses, you get more than a general business accounting firm. We also handle industry-specific issues that arise, such as state and local government tax incentives, R&D tax credits and other deductions that reduce your tax liability, in-depth knowledge of repair regulations, and sales and use tax.

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Our Hospitality Accounting Services

  • Internal controls

  • Audits, reviews, and compilations (financial statements)

  • Cost segregation studies

  • Operational and profitability reviews

  • Sales and use tax

  • Business tax incentives

  • Payroll issues (tip reporting)

  • Cash flow forecasting and revenue projections

  • Financing assistance options

  • Mergers and acquisitions

  • Business and Real Estate Valuations

  • Succession planning and exit strategies

Manufacturing Assembly

Manufacturers

Tax and Accounting Services for Manufacturers

The manufacturing industry is highly competitive. There are complex regulations to comply with, and technological changes are numerous and frequent. With customers demanding better products at lower prices and a faster turnaround, you need solutions fast.
The good news is that we are here to help. As your trusted advisor, our job is to help you stay competitive. We’ll work with you to streamline your accounting procedures and processes and identify opportunities that help you improve your bottom line by reducing operational costs and managing your facilities more cost-effectively.

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Manufacturing Accounting Services:

  • Outsourced accounting and CFO services

  • Research and Development Tax Credit

  • Sales & use tax

  • State and federal economic incentives

  • Inventory management (costs and analysis)

  • Internal controls

  • Financial projections and forecasts

  • Cost Segregation

  • Payroll processing

  • Monthly, quarterly and year-end accounting

  • Tax planning strategies

  • Business advisory services

  • Mergers and acquisitions

  • Business Valuation

  • Exit Strategies

Manufacturing Assembly
Janitors in Uniforms

Janitorial Services

Running a cleaning business can be a hands-on business that requires a lot of skill and hard work, especially with the job's physical demands. The cleaning service industry has been booming ever since its inception. Organizations, institutions, and other businesses across different sectors often hire cleaning services. Interestingly, there is also an increasing demand for cleaning services in the residential, commercial, and industrial sectors.

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Accounting and Bookkeeping for Janitorial Services

Just like any other business, a cleaning business also deals with several financial aspects. BankIT Solution is well qualified and experienced in helping handle the bookkeeping and the accounts. Here are a few accounting services that the firm can help you with:

  • Tax preparation, planning, and tax resolutions

  • Bookkeeping for cleaning contractors

  • Payroll processing

  • Manage cash flow

  • Critical analysis of financial reports

  • Budgeting advice

  • Customized accounting solutions

  • Expansion advice

  • Accounting for construction, remodelling, and home repair companies

  • Accounting for home repair and home maintenance services

With local rules changing frequently, it is in the interest of your cleaning service to hire a local firm that is well-versed in dealing with cleaning business taxes. This is a great way to ensure that you pay minimum taxes and that the payments are made on time.

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