Construction Accountant

In Quebec construction, accounting happens on the job site as much as in the books: tight quotes, CCQ payroll to be issued weekly, progress billings, retentions often of 10% and subcontractors to be documented for T5018. Add a short season, clients who pay in 60 or 90 days and machines to finance: without a cost per project, the margin erodes without anyone noticing it disappearing.

We offer a free introduction to a certified accountant who understands the realities of construction contractors: project tracking, VAT, DAS (Declaration of Annual Social Contributions), CCQ (Construction Industry Commission) reports, and year-end T2/CO-17 filings. The perfect match for your business, as many introductions as needed, and we'll be there to support you. No obligation.

• Net margins often less than 5%: a single undetected cost overrun can wipe out the profit of an entire project.
• A short and intense season: concentrated revenues from April to November, two-week construction holidays in July, winter cash flow to plan.
• Cash flow gap: weekly payroll and suppliers to be paid while customers pay in 60 or 90 days.
• Retentions of guarantee, often 10% of the contract, which tie up your margin until the work is accepted.
• The cost per project: without a breakdown by site (labor, materials, subcontracting, overheads), it is impossible to submit a fair bid.
• The DPA on equipment: construction machinery in category 38 (30%), heavy goods vehicles over 11,788 kg in category 16; incorrect classification distorts the tax.
• The true cost of CCQ labour: vacation and leave allowance of 13%, social benefits and CNESST are added to the hourly rate in your bids.

• VAT 5% and VAT 9.975% on your contracts, with special rules for new housing (refunds) and self-supply for builders.
• Summary of Contractual Payments (T5018) to be filed with the IRS for your subcontractors as soon as construction is your primary business.
• Federal and Quebec source deductions (DAS) on payroll, remitted according to the prescribed schedule based on the payroll.
• CCQ monthly report for the workforce subject to the R-20 law, to be submitted no later than the 15th of the following month, including deductions.
• RBQ license and bond to be maintained; Revenu Québec certificate required for public contracts of $25,000 and over.
• CNESST: registration, declaration of wages and periodic payments, with specific rates for construction site activities among the highest.
• T2 and CO-17 declarations for incorporated companies, with revenues recognized according to the progress of work and treatment of withholdings to be documented.

How can you tell if a project is profitable before it's finished? Yes, it's possible with a cost breakdown per project. An accountant familiar with the project allocates labor, materials, subcontracting, and overhead costs by contract, then compares the actual costs to your estimate each month. You'll see any overruns as soon as they begin, not at the end of the project, and you'll be able to submit more accurate bids for future tenders.

Do I need to file T5018s for my subcontractors? Yes, as soon as construction is your primary business and you pay subcontractors for construction work: the IRS requires a Summary of Contract Payments (T5018). Your accountant compiles the payments, files the slips on time, and helps you avoid penalties. They also validate your subcontractors' VAT numbers to protect your tax credits.

How much does a construction accountant cost? According to the Bankeo Barometer , based on 1,248 real-world cases (2024-2026), the median cost for this sector is around $2,400 per year. The cost varies depending on whether you are an incorporated company or a self-employed individual, as well as the volume and complexity of the work. Bankeo matching is free: you pay your accountant directly.

How to switch construction accountants without the stress? We'll take care of it for you: you tell us what the problem is (site monitoring, deadlines, CCQ reports), and we'll introduce you to an accountant who knows the industry, free of charge. The transition is as simple as transferring your files, payroll access, and T5018 history, often in just a few weeks; the ideal time is after the end of the year, but it's possible anytime. And if the match isn't working out, even in six months, we'll find you another one at no cost.

Local or remote accountant for construction? Both work very well. Bookkeeping, CCQ payroll, and taxes can be managed remotely with cloud tools, while a local accountant can be an asset if they know the project owners in your area. The real criterion is construction experience: cost per project, T5018, and R-20 law. We'll present you with the right profile based on your preference.

Who is responsible for filing the monthly CCQ report, and what happens if it's late? As soon as you employ workers subject to the R-20 Act, the monthly report must be submitted to the CCQ no later than the 15th of the following month, including deductions. Late submissions will incur penalties and interest, and can complicate obtaining your statements of account, which are essential for securing contracts. Your accountant or their payroll department will integrate this into the weekly payroll process so it's handled automatically.