Accounting for construction
Construction companies manage job costs, subcontractors, holdbacks and crews at the same time. Falling behind on any of these can reduce the profit on an otherwise successful job.
Common challenges we solve
Job costing
Labour, materials and subcontractors tracked by job, so you know which jobs made money before you bid the next one.
Subcontractor payments and T5018
Payments to subcontractors recorded and reported to the CRA on time.
Payroll for crews
Crew payroll, source deductions and WCB premiums handled, including seasonal hires.
Frequently asked questions
Do I need to file T5018 slips?
If construction is your main business, you report payments to each subcontractor that total $500 or more in the year. The T5018 return is due six months after the end of your reporting period.
How do you handle holdbacks?
We track holdbacks you owe and holdbacks owed to you on every job, so they are recorded correctly in your receivables, payables and job profit, and are collected or paid when due.
Free consultation, no obligation