Chelsea Stenson

Fractional accounting gives your business a bookkeeper and controller for a flat monthly fee. Below you will find what it covers, what it costs, and how to know if it fits.

In the contracting world, where projects can span months or even years, managing cash flow and financial reporting is a unique challenge. Unlike traditional businesses that recognize revenue at the point of sale, contractors must choose how and when to account for their income and expenses. Two of the most common frameworks used to navigate this are Progress Billing (often paired with the Percentage of Completion Method ) and the Completed Contract Method (CCM). Progress Billing allows contractors to invoice clients and recognize revenue incrementally as milestones are met throughout the project. Completed Contract Method defers all revenue and expense recognition until the entire project is officially finished.  Selecting the right method goes far beyond basic bookkeeping; it fundamentally shapes your tax obligations, cash flow health, and how creditworthy your business appears to lenders and investors. This article breaks down the core differences between these two methods, explores their pros and cons, and helps you determine which strategy is the best fit for your business.