Industrial and manufacturing accountant

Running a factory in Quebec in 2026 means juggling a three-tiered inventory (raw materials, work in progress, finished goods), a cost of goods sold that must remain accurate despite rising input costs, US tariffs, and a labor shortage driving automation. Between the year-end physical count, the allocation of manufacturing overheads, and the requirements of the lender financing your equipment, a manufacturer's accounting is nothing like that of a service company.

That's precisely why we're introducing you to an accountant who understands manufacturing: inventory valuation, capital cost allowance (CCA) on machinery, SR&ED and C3i tax credits, sales outside Quebec, and exports. We'll find the ideal accountant for your plant, free of charge, and present you with as many as you need. We'll stay by your side for as long as necessary. No obligation.

• Valuing an inventory at three levels (raw materials, work in progress, finished products): each discrepancy in the count distorts the cost of goods sold and the gross margin.
• Establish a reliable cost price per product or per batch (materials, direct labor, allocated overheads) to set profitable prices for clients.
• Plan for major fixed assets (machinery, molds, tooling) and optimize the capital cost allowance based on the category and date of acquisition.
• Document SR&ED as soon as a process or product is improved: federal tax credit refundable up to 35% for CCPCs.
• Protecting access to the small business deduction on the first $500,000 of active income; in Quebec, the criterion of 5,500 paid hours or the proportion of manufacturing activities comes into play.
• Absorbing margins under pressure: increased inputs, customs duties, exchange rates on sales in the United States.
• Addressing the labor shortage: overtime, international recruitment and the shift to automation need funding.

• T2 (federal) and CO-17 (Revenu Québec) corporate declarations, with financial statements and appendices specific to manufacturing.
• Maintaining accurate inventory (at cost or fair market value) to support the cost of goods sold, with supporting physical count.
• VAT collection 9.975%; place of supply (HST) rules on interstate sales and tax-exempt exports to be documented.
• Source deductions on factory payroll: federal and Revenu Québec (RRQ, RQAP, FSS with reduced rate for manufacturing SMEs), T4 slips and RL-1 slips.
• Capital cost allowance (CCA) on manufacturing and processing machinery: category 43 or 53 depending on the date of acquisition.
• SR&ED claims: federal T661 form and RD forms from Revenu Québec, with technical documentation maintained throughout the work.
• CNESST contributions according to the plant's classification unit; up-to-date payroll and subcontracting records.

Can you help me calculate my cost price? Yes, it's crucial in manufacturing. An accountant familiar with the factory structures your cost price: raw materials, direct labor, and overhead costs allocated per product or per batch. You see your true gross margin, product by product, you set profitable prices for your clients, and your year-end inventory is accurate for both lenders and tax purposes.

Am I eligible for tax credits like SR&ED? Often, yes. If you improve processes, products, or equipment, your work may qualify for SR&ED: a refundable federal tax credit of up to 35% for Canadian-controlled private corporations (CCPCs). There are also Quebec measures like the C3i tax credit for manufacturing equipment. We can connect you with an accountant who can document and prepare these claims, saving you your evenings.

How much does an accountant cost in this sector? According to the Bankeo Barometer , based on 1,248 real-world cases (2024-2026), the median annual salary for an accountant in Quebec is around $2,000, ranging from $500 to $6,000 depending on the sector and complexity. The Bankeo matching service is free: you pay your accountant directly at standard market rates.

How to switch accountants without the stress? We'll take care of it for you. The best time is after inventory count and tax returns have been filed, so the new accountant can start with clean financial statements. Your old accountant is obligated to hand over your files, and we'll introduce you to an accountant familiar with manufacturing, free of charge, until you find the right fit.

Local or remote accountant for my factory? Both work. A local accountant can visit the factory, attend the physical count, and understand your production floor; a remote accountant equipped with cloud resources tracks your inventory and cost of goods sold continuously. What matters is the manufacturing experience: tell us your preference, and we'll match you accordingly.

Which capital cost allowance (CCA) class applies to my manufacturing machinery? Manufacturing and processing machinery generally falls under Class 43 or Class 53, depending on the acquisition date, with enhanced rules for certain recent purchases. The correct classification directly impacts your tax liability for the year. An accountant familiar with the plant will verify the class, the in-service date, and the interaction with the C3i system before preparing your T2 return.