Accounting, Bookkeeping, and Operational Finance for General Contractors, Subcontractors, and Professional Services Firms, Lexington, KY
Your Books Should Tell You the Truth About Every Project. Right Now, They Probably Don't.
Locust Street Advisory builds and manages the accounting infrastructure construction and professional services businesses actually need: job costing, WIP schedules, and monthly closes that hold up to a bank or bonding company. Built by someone who learned finance inside the construction industry, not from a general accounting textbook.
Quick Facts
Firm
Locust Street Advisory
Service
Construction and professional services accounting, bookkeeping, job costing, financial operations.
Based in
Lexington, KY — works nationwide
Phone
Who it's for
General contractors, subcontractors, and professional services firms.
Accounting, Bookkeeping, and Operational Finance for General Contractors, Subcontractors, and Professional Services Firms, Lexington, KY
Your Books Should Tell You the Truth About Every Job. Right Now, They Probably Don't.
Locust Street Advisory builds and manages the accounting infrastructure construction and professional services businesses actually need: job costing, WIP schedules, and monthly closes that hold up to a bank or bonding company. Built by someone who learned finance inside the construction industry, not from a general accounting textbook.
Quick Facts
Firm
Locust Street Advisory
Service
Construction and professional services accounting, bookkeeping, job costing, financial operations.
Based in
Lexington, KY — works nationwide
Phone
Who it's for
General contractors, subcontractors, and professional services firms.
The Problem
Why Construction and Professional Services Accounting Is Different
Why Construction and Professional Services Accounting Is Different
Construction runs on job costing, WIP schedules, retainage, and percentage-of-completion, none of which a general bookkeeper is trained on. That's why so many contractors and professional services firms have "clean" books that are still financially useless.
Construction runs on job costing, WIP schedules, retainage, and percentage-of-completion, none of which a general bookkeeper is trained on. That's why so many contractors and professional services firms have "clean" books that are still financially useless.
Job costs are a guess, not a fact.
Without job costing by project and cost code, you don't actually know which jobs made money.
Without job costing by project and cost code, you don't actually know which jobs made money.
Your WIP schedule is lying to you.
When cost-to-complete estimates go stale, the job looks more profitable than it is, until the profit disappears at closeout. That's profit fade, and it's the reason surety underwriters flag contractors who look great mid-project and weak at the end.
Retainage is sitting where it shouldn't.
Buried in regular A/R instead of its own account, retainage quietly convinces you that you have more cash than you do.
The close takes weeks, and you still don't trust it.
By the time it's finished, it's stale, so decisions get made on gut instinct, not the P&L.
By the time it's finished, it's stale, so decisions get made on gut instinct, not the P&L.
The close takes weeks, and you still don't trust it.
By the time it's finished, it's stale, so decisions get made on gut instinct, not the P&L.
One mistake here is expensive.
Bad job costing and WIP reporting are the top reasons contractors run into bonding limit problems, lender pushback, and cash crunches that look like a revenue problem but are really an accounting problem.
It looks like a revenue problem. It's an accounting problem.
It looks like a revenue problem. It's an accounting problem.
It looks like a revenue problem. It's an accounting problem.
The Solution
What We Do Differently
We build and run construction and professional services accounting systems, not generic bookkeeping bolted on top.
Plans + costs, reviewed together
Job costing that's actually accurate.
Job costing that's actually accurate.
Every dollar tracked by job, phase, and cost code, so you know in real time which projects are profitable.
WIP schedules your bank and bonding company can trust.
Updated monthly against real cost-to-complete estimates, not last quarter's guess.
WIP schedules your bank and bonding company can trust.
Updated monthly against real cost-to-complete estimates, not last quarter's guess.
A close you can rely on.
A structured monthly close built for construction and professional services businesses: accruals, WIP updates, job cost review, done on schedule, every time.
A close you can rely on.
A structured monthly close built for construction and professional services businesses: accruals, WIP updates, job cost review, done on schedule, every time.
Coordinated with your CPA.
We work with them quarterly so your books and your tax strategy stay in sync.
Coordinated with your CPA.
We work with them quarterly so your books and your tax strategy stay in sync.
Plans + costs, reviewed together
Services Overview
What We Handle
Five layers of construction and professional services accounting, from clean transactions to audit-ready reporting.
01
Bookkeeping
Bookkeeping
Bookkeeping
Reconciliations, transaction categorization, A/P and A/R tracking, payroll journal entries.
Reconciliations, transaction categorization, A/P and A/R tracking, payroll journal entries.
02
Accounting
Accounting
Job costing, WIP schedules, accrual adjustments, monthly close, internal controls, audit prep, quarterly CPA coordination.
02
Accounting
Job costing, WIP schedules, accrual adjustments, monthly close, internal controls, audit prep, quarterly CPA coordination.
03
Financial Planning & Analysis
Budgeting, 13-week cash flow forecasting, KPI dashboards, variance analysis, scenario modeling.
03
Financial Planning & Analysis
Budgeting, 13-week cash flow forecasting, KPI dashboards, variance analysis, scenario modeling.
04
Operational Finance
ERP support, SOP development, process automation, interim finance leadership, one-off cleanups.
04
Operational Finance
ERP support, SOP development, process automation, interim finance leadership, one-off cleanups.
05
Fractional CFO
(for businesses ready for that level of support)
Cash strategy, capital raises, M&A and exit planning, board reporting.
05
Fractional CFO
(for businesses ready for that level of support)
Cash strategy, capital raises, M&A and exit planning, board reporting.
Results Our Clients See
Results Our Clients See
From $9.96 in Cash to Acquisition Talks
From $9.96 in Cash to Acquisition Talks
We took a professional services firm from $9.96 in cash at the start of 2024 to active acquisition negotiations today.
We took a professional services firm from $9.96 in cash at the start of 2024 to active acquisition negotiations today.
What Every Engagement Includes
What Every Engagement Includes
What Every Engagement Includes
On schedule
On schedule
On schedule
Monthly close
Monthly close
Monthly close
Tracked live
Tracked live
Project-level margin
Project-level margin
Tracked live
Project-level margin
Audit-ready
Audit-ready
Bank & bonding packets
Bank & bonding packets
Audit-ready
Bank & bonding packets
hOW IT WORKS
Three steps from unreliable books to reporting you can hand over.
Three steps from unreliable books to reporting you can hand over.
01
Discovery and Review
We look at your current books, chart of accounts, and job costing setup to find the gaps.
We look at your current books, chart of accounts, and job costing setup to find the gaps.
02
Cleanup & Setup
We fix historical issues and build a job costing structure, WIP schedule, and close process made for construction.
We fix historical issues and build a job costing structure, WIP schedule, and close process made for construction.
02
Cleanup & Setup
We fix historical issues and build a job costing structure, WIP schedule, and close process made for construction.
03
Ongoing Management
We run your monthly bookkeeping and close on a fixed schedule, ready to hand to your bank, bonding company, or CPA anytime.
We run your monthly bookkeeping and close on a fixed schedule, ready to hand to your bank, bonding company, or CPA anytime.
03
Ongoing Management
We run your monthly bookkeeping and close on a fixed schedule, ready to hand to your bank, bonding company, or CPA anytime.
About Daniel Fulton
Not a General Bookkeeper Who "Also Does Construction."
Not a General Bookkeeper Who "Also Does Construction."
Daniel learned construction finance at a $5 billion per year general contractor, scaled an industrial engineering firm from $1M to $100M as Head of Finance, and holds a postgraduate degree in strategic finance from Oxford's Saïd Business School. He's also a high school dropout, as comfortable reviewing job cost reports in the field as presenting to a board.
Daniel learned construction finance at a $5 billion per year general contractor, scaled an industrial engineering firm from $1M to $100M as Head of Finance, and holds a postgraduate degree in strategic finance from Oxford's Saïd Business School. He's also a high school dropout, as comfortable reviewing job cost reports in the field as presenting to a board.
Faq
Questions contractors ask first
Questions contractors ask first
Is this bookkeeping or accounting?
Do you do taxes?
What makes construction and professional services accounting different?
What size construction and professional services companies do you work with?
Are you Lexington, KY only?
How do we get started?
Is this bookkeeping or accounting?
Do you do taxes?
What makes construction and professional services accounting different?
What size construction and professional services companies do you work with?
Are you Lexington, KY only?
How do we get started?
Let's Talk About Your Business
If you don't fully trust your numbers, let's fix that.
If you don't fully trust your numbers, let's fix that.
If you don't fully trust your numbers, let's fix that.
If you don't fully trust your numbers, don't know which jobs are actually profitable, or dread getting your books ready for your bank or bonding company, let's fix that.
Construction and professional services accounting, bookkeeping, job costing, and financial operations. Based in Lexington, KY, working with clients nationwide.
Contact us
© 2026 Locust Street Advisory
Not a tax firm, we coordinate with your CPA.
Construction and professional services accounting, bookkeeping, job costing, and financial operations. Based in Lexington, KY, working with clients nationwide.
Contact us
© 2026 Locust Street Advisory
Not a tax firm, we coordinate with your CPA.
Construction and professional services accounting, bookkeeping, job costing, and financial operations. Based in Lexington, KY, working with clients nationwide.
Contact us
© 2026 Locust Street Advisory