Bookkeeping for Contractors and Trades
Job costing, subcontractor T4A tracking, progress billing and holdback reconciliation, HST filing, and payroll — built for general contractors, electricians, plumbers, and all skilled trades.
Last updated: March 2026
Why Contractors Need Specialists
The Financial Complexity of Contracting
Job costing, subcontractor T4As, holdback tracking, and construction-specific HST rules make contracting one of the most challenging industries for general bookkeeping.
Job Costing Complexity
Every project has different labour, materials, subcontractor, and equipment costs. Without proper job costing, you cannot know which jobs are actually profitable.
Subcontractor Payments
T4A slips must be issued to every subcontractor paid more than $500 in a year. Many contractors miss this CRA requirement and face penalties.
HST on Construction Services
New construction, renovations, and certain repair services have different HST rules. New housing rebates and the transitional rules for mixed-use properties add further complexity.
Cash vs. Accrual Income Timing
Deposits, progress billings, holdbacks, and final payments all hit at different times. Without proper accounting, your income looks different than your cash flow.
Our Services
What Taxxel Handles for Contractors
Job Costing & Project Profitability
Track labour, materials, subcontractors, and equipment by project to see exactly which jobs make money.
Subcontractor T4A Tracking
Year-round tracking of all subcontractor payments so T4A slips are accurate, complete, and filed on time.
HST/GST Filing
Quarterly HST returns covering construction services, new housing, renovation work, and capital equipment ITCs.
Material & Equipment Cost Tracking
Every material purchase, equipment rental, and tool expense tracked and allocated to the correct job or overhead.
Monthly Financial Statements
P&L and balance sheet showing real margins after subcontractor costs, materials, and overhead.
Payroll for Trades Staff
Bi-weekly payroll for carpenters, electricians, plumbers, and site workers — including union remittances if applicable.
Equipment CCA & Depreciation
CCA schedules for vehicles, machinery, and tools — optimized to minimize your annual tax liability.
Progress Billing Reconciliation
Tracking deposits, progress invoices, holdbacks (10%), and final payments to ensure receivables match contracts.
Complete Package
What's Included
- Monthly bookkeeping and bank reconciliation
- Job costing — labour, materials, subcontractors by project
- Subcontractor payment tracking (T4A preparation)
- Progress billing and holdback reconciliation
- Material purchase and equipment rental tracking
- HST/GST quarterly filing with construction ITC recovery
- New housing rebate applications (if applicable)
- Payroll for trades employees
- Union remittances and WSIB tracking
- Vehicle and equipment CCA schedules
- Monthly P&L and balance sheet
- T2 corporate tax or T1 self-employment tax return
Pricing
From $100/month
Flat monthly rate based on project volume and services. No hourly billing — predictable costs every month.
Get a Custom QuoteAll Trades Welcome
We work with general contractors, electricians, plumbers, carpenters, HVAC, roofers, and landscapers across the GTA and Ontario.
FAQ
Frequently Asked Questions
Ready to Get Started?
Get in touch today — we are here to help with your tax and bookkeeping needs.
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