Peak Construction Services matched bank statements to transaction records by hand, on spreadsheets and paper. During busy stretches, the reconciliation ran weeks or a month behind, so discrepancies only turned up long after they were easy to fix. Automated bank reconciliation cut that work by 80%.
“With APARBooks, our reconciliations are always up to date. We no longer scramble at tax time, and we've gained better insight into our finances. It's made our entire process more simpler and reliable.”
— Peak Construction Services
The company
Peak Construction Services is a general contracting firm with more than 20 years of experience on mid-sized commercial and residential projects across the Northeast. It has 50 full-time employees and works with dozens of subcontractors, often running several projects at once. Accurate financial records have always been central to keeping projects and payments on track.
The challenge: reconciliations weeks behind
Peak Construction's accounting team matched bank statements to transaction records manually, using spreadsheets and printed documents. The process was slow and error-prone, and as project activity picked up, the team fell behind. During busy periods, reconciliations were commonly weeks or even a month late.
That delay had real costs. Discrepancies surfaced long after they could be corrected easily, which threw off cash flow forecasts and budget adjustments. Tax season meant a scramble to catch up, which pushed back filing and risked compliance penalties. Without a current view of their finances, the team spent most of its time reacting instead of getting ahead of shortfalls.
The APARBooks solution
Peak Construction moved to APARBooks for automated bank reconciliation. As transactions happen, they're matched to bank statements automatically, so manual checking mostly goes away.
The accounting team can pull up current financials at any time. Discrepancies are easy to spot and fix right away, and the direct link between bank statements and the company's ledgers means the data doesn't go stale.
The results
Time spent on bank reconciliations fell 80%, freeing dozens of hours each month for financial analysis and planning. Reconciliations stay current, so tax filing is no longer a last-minute rush and compliance risk drops. Better cash flow visibility lets project managers and leadership make informed calls on current and upcoming work.
Frequently Asked Questions
Why do late bank reconciliations hurt a construction business?
Discrepancies surface long after they're easy to correct, which distorts cash flow forecasts and budgets. Tax filing gets delayed while the team catches up, and decisions get made without a current view of the company's financial position.
How does APARBooks automate bank reconciliation?
Transactions are matched to bank statements automatically as they occur, and the bank feed links directly to the company's ledgers. The accounting team can view current financials at any time instead of reconciling in batches.
How much time did automated reconciliation save Peak Construction?
Time spent on bank reconciliations dropped 80%, which returned dozens of hours a month to higher-value work like financial analysis and strategic planning.
Built for Contractors. Built for Construction Accounting.
APARBooks is purpose-built construction accounting software for general contractors and bookkeepers. Manage job costing, AIA progress billing, subcontractor payments, retainage, change orders, lien compliance, and WIP reporting in one place.
