Job costing, holdbacks, subcontractor payments, HST, payroll, and WSIB, managed by a CPA team that understands how construction businesses operate.
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
Tracking set up by job so you can see which projects are profitable and which ones are not.
Recognition and tracking of holdbacks receivable and payable, aligned with Construction Act requirements.
Managing payments to subcontractors, preparing T5018 slips, and ensuring all CRA reporting obligations are met.
HST returns prepared and filed, with input tax credits tracked across jobs.
Payroll for employees and crew, CRA source deduction remittances, and all related filings.
WSIB premium remittances, reconciliations, and annual reporting.
T2 corporate returns and T1 personal returns for sole proprietors and incorporated contractors.
Compiled or reviewed financial statements prepared to the standard required by bonding companies and general contractors.
Full-cycle bookkeeping, financial reporting, and year-end preparation for your construction business.
What type of work you do, how you operate, and what you need.
We assess your situation and provide a clear scope and price.
We execute and deliver.
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.
Book a consultation to discuss your business and how we can help.
Instant Quote
Get pricing in 2 minutes