Final Account

 

 

 

 

 

 

 

 

We provide the Final Account services which compiling all the relevant financial information and documentation at the end of a construction project. This involves assessing and documenting all the costs incurred throughout the project lifecycle and reconciling them with the initial budget and any variations that may have occurred during the project.

 

The key aspects involved in Final Account services include:

 

  1. Cost Analysis: This involves reviewing all the costs incurred during the construction project, including materials, labor, equipment, and any other expenses. Quantity surveyors analyze the cost breakdowns to ensure accuracy and completeness.

 

  1. Variation Analysis: Quantity surveyors also assess any variations or changes that occurred during the project compared to the initial plans and budgets. This includes variations in scope, design changes, and any additional works requested by the client.

 

  1. Valuation: Quantity surveyors are responsible for valuing the work done and ensuring that payments to contractors and subcontractors are accurate and fair. This involves assessing the progress of the project and certifying payments based on the work completed.

 

  1. Negotiation: Quantity surveyors may be involved in negotiating final accounts with contractors, subcontractors, and other parties involved in the project. This includes resolving any disputes or discrepancies in the costs and payments.

 

  1. Final Account Documentation: Quantity surveyors prepare the final account documentation, which includes a detailed breakdown of all the costs incurred, variations, payments, and any other relevant financial information. This documentation is crucial for closing out the project and settling all financial matters.

 

Overall, Final Account services play a vital role in ensuring transparency, accuracy, and fairness in the financial aspects of construction projects. We help to safeguard the interests of all parties involved and ensure that the project is completed within budget and according to the agreed-upon terms and conditions.