Industries›Construction & Trades

Accounting for contractors, trades, and construction businesses.

Job costing, holdbacks, subcontractor payments, HST, payroll, and WSIB, managed by a CPA team that understands how construction businesses operate.

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Sound Familiar?

Common challenges we see with construction clients

You're paying subcontractors but not sure if you're handling the tax reporting obligations properly

Holdbacks are sitting on your books and you're not sure how or when to recognize them

You're not sure if you're collecting and remitting HST correctly across your jobs

You have no visibility into which jobs are profitable and which ones are costing you money

Your bookkeeping is months behind and you're scrambling at year-end to pull everything together

You need financial statements to bid on larger contracts or secure bonding but don't have them ready

What We Do for Construction & Trades Clients

Job Costing & Profitability Tracking

Tracking set up by job so you can see which projects are profitable and which ones are not.

Holdback Accounting

Recognition and tracking of holdbacks receivable and payable, aligned with Construction Act requirements.

Subcontractor Payments, T5018 & Reporting

Managing payments to subcontractors, preparing T5018 slips, and ensuring all CRA reporting obligations are met.

HST Filing & Compliance

HST returns prepared and filed, with input tax credits tracked across jobs.

Payroll & Source Deductions

Payroll for employees and crew, CRA source deduction remittances, and all related filings.

WSIB Reporting & Compliance

WSIB premium remittances, reconciliations, and annual reporting.

Corporate & Personal Tax Filing

T2 corporate returns and T1 personal returns for sole proprietors and incorporated contractors.

Financial Statements for Bonding & Contracts

Compiled or reviewed financial statements prepared to the standard required by bonding companies and general contractors.

End-to-End Accounting

Full-cycle bookkeeping, financial reporting, and year-end preparation for your construction business.

How It Works

Getting started

Tell us about your business

What type of work you do, how you operate, and what you need.

We review and quote

We assess your situation and provide a clear scope and price.

We handle the work

We execute and deliver.

FAQs

Common questions from construction clients

In most cases, yes, especially once your income reaches a certain level. Incorporation provides liability protection and tax deferral opportunities. We can assess your situation and advise on whether it makes sense for you.

Holdbacks need to be tracked separately as receivables and payables. The timing of when you recognize the income and when you can release payment to your subcontractors follows the Construction Act. We set this up properly from the start.

Yes. Construction businesses are required to file T5018 slips (Statement of Contract Payments) to report payments made to subcontractors. These are filed annually with the CRA. We prepare and file them as part of your engagement.

Yes. We prepare compiled or reviewed financial statements that meet the requirements of bonding companies and general contractors. We understand what they're looking for and present your financials accordingly.

Yes. We do catch-up bookkeeping regularly for construction clients. We'll get your records organized, reconciled, and up to date, then keep them that way going forward if you want ongoing support.

Other Industries

Running a construction business is complicated enough. Your accounting shouldn't be.

Book a consultation to discuss your business and how we can help.