Tallmont Construction & Real Estate Accounting Services
For: Developers, builders, and construction groups — from a single project to a portfolio of SPEs.
Development accounting done by generalists produces fiction
Construction and real estate development break generic accounting. Costs must be capitalized, not expensed; interest belongs to specific financing layers; costs routinely land in a different legal entity than the one that paid them; and every lender, investor, and partner asks the same relentless question: what have we actually spent on this project, by category, against budget?
A conventional chart of accounts can’t answer it. So the books show artificial build-phase losses, the real project cost hides across a dozen generic expense lines, and every draw request becomes spreadsheet archaeology.
What we do
Construction-specific chart of accounts. A purpose-built CIP architecture — land, hard costs, soft costs, fees, carry — that mirrors your development budget, so transactions classify themselves and the ledger speaks your pro forma’s language.
Capitalization done right. Construction-period interest tracked by capital-stack layer (senior, mezzanine, owner), development fees split by payment form, reserves tracked by the entity that holds them.
CIP schedules and draw reconciliation. Maintained CIP schedules by project and cost category, plus lender draw packages and sources-and-uses reporting that reconcile directly to the books — draw reconciliation as a monthly discipline, not a scramble.
Project costing and budget-vs-actual. Real-time CIP balances by project and cost category, cost-to-complete analysis, and cross-project comparison — straight from the general ledger.
SPE and multi-entity structures. Clean intercompany cost transfers up the ownership chain with a documented, auditable path.
What you get
True project cost visibility, financials where the build phase doesn’t masquerade as a loss, and lender conversations backed by schedules instead of scrambles.
The proof
We built exactly this for a multi-project development group — read the CIP chart of accounts case study below.
Engineering a Construction-Ready Chart of Accounts with a Purpose-Built CIP Structure
Project costs visible in real time, in the exact structure of the development budget.
Read the case study →Frequently asked questions
Why do construction companies need a specialized accountant?
Because development costs aren't expenses — they're investments in an asset under construction that must be capitalized as CIP. A generic bookkeeper puts construction interest in interest expense and design fees in professional services, and suddenly your build-phase P&L shows losses that aren't real and a balance sheet that understates your project.
What is CIP accounting?
Construction in Progress: capitalizing land, hard costs, soft costs, financing interest, and fees on the balance sheet during the build, structured by cost category so you can see total project cost against budget at any moment — then transferring to the completed asset at stabilization.
Can you reconcile our books to the lender's draw schedule?
Yes — we design the cost structure to mirror how draw schedules and capital stacks are organized, so draw packages reconcile directly to the general ledger instead of through a monthly spreadsheet exercise.
Do you work with multi-entity project structures (SPEs)?
It's our specialty. Project → holding → SPE structures with layered financing, intercompany cost transfers, and consolidation are the environments we work in daily.
Book your free books review
Thirty minutes, your current setup, and a candid read on what it would take.