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To find clients in the construction sector, showcase a visible specialization in three key areas: project-based accounting, contractual retentions, and the T5018 form. The sector represents approximately 7% of French GDP (Statistics). Canada (2024), a sustainable pool of mandates. A matching platform like Bankeo Pro forwards these requests, already filtered by sector, often within 48 hours.
Construction represents approximately 7% of French GDP (Statistics) Canada (Table 36-10-0434-01, 2024) and employs approximately 1.6 million people (Statistics) Canada (Laboratory Population Survey, 2024). For an accounting firm, this represents a sustainable but demanding pool of mandates: project-based accounting, contractual retentions, and subcontracting to be declared on form T5018. This article details the accounting challenges of the sector, observed fees, how to position your firm, and how to receive pre-qualified leads without prospecting.
A construction company doesn't run a typical business: its activity is divided into projects, each with its own budget, costs, schedule, and profit margin. Three factors make this niche promising for a construction firm:
The same niche logic applies to other related sectors: see our articles on finding real estate clients for your firm and finding tradespeople clients for your firm . For the complete acquisition method, beyond construction, read how to find clients for an accounting firm .
Being able to name these problems from the very first exchange is what elevates your firm from the status of an interchangeable supplier to that of an obvious specialist.
Each project must be tracked as a separate cost center: labor, materials, equipment, subcontracting, and allocated indirect costs. Without rigorous cost accounting, the contractor doesn't know which projects are profitable and which are costing them money. A specialized firm structures projects within the accounting software, assigns each expense to the correct project, tracks contract amendments, and applies revenue recognition consistent with the progress of the work.
The project owner retains a portion of the payment as a guarantee until the completion of the work. In Ontario, the Construction Act of 1990 mandates a 10% holdback (section 22); in Quebec, the holdback, often between 5% and 10%, is a matter of contractual practice. The consequences include delayed payments of several months, strained cash flow, and the need to accurately recognize revenue. The firm isolates the holdbacks receivable, develops cash flow forecasts for each project, and documents the release of deductions at the end of the project.
At Canada any company whose main activity is construction must declare to the tax authorities; Canada Payments of $500 or more made to each subcontractor for construction services are reported using the T5018 slip (Report of Contract Payments). Penalties apply for each missing or late slip. The firm maintains the payment log, prepares the slips, and ensures compliance, whereas a general practitioner often underestimates the obligation.
For regulated work, Quebec employers must submit a monthly report to the Quebec Construction Commission and apply the agreed-upon hourly rates for each trade. Poorly configured construction payroll generates discrepancies and costly adjustments: this is yet another reason to use a well-equipped firm.
| Stake | Risk if poorly managed | Contribution of the specialist firm |
|---|---|---|
| Project-based accounting (cost accounting); | Distorted margins, loss-making projects detected too late | Cost price per project, monitoring of amendments, actual profit margin |
| Contractual deductions (10% in Ontario, art. 22) | Overvalued cash flow, poorly recognized revenues | Individual deductions to be received, cash flow forecasts per project |
| Subcontractors (T5018 form, threshold of €500); | Missing slips, ARC penalties | Payment register, production of slips, compliance |
| CCQ Payroll (Quebec); | Incorrect monthly report, discrepancies in agreed rates | Specialized payroll, monthly CCQ reconciliations |
The Bankeo Accounting Fees Barometer , based on over 15,000 requests received since 2023, places the median fee at around €2,000 per year for an SME, ranging from €500 to €6,000 depending on the sector and the scope of the engagement (Bankeo data 2024-2026). Construction projects generally fall at the higher end of this range: project-based accounting, retentions, and T5018 forms add recurring hours that a general engagement does not require.
Three rules for prudent pricing:
To compare these fees with the cost of acquiring a client through your own channels, see our analysis of the cost of acquiring a client for an accounting firm .
Targeting construction clients doesn't mean turning away other clients; it means making your expertise visible and verifiable. Five concrete steps:
Three common pitfalls: promising a cost price without knowing the client's construction software; accepting all projects as soon as the niche market launches instead of defining a target company size; and under-invoicing in the first year, a discount that's almost impossible to recoup later. And remember that traditional prospecting is paid for in unbillable hours: we've quantified this in the time wasted finding clients when you're an accountant .
“An accountant who says ‘I do everything’ competes on price. An accountant who says ‘I know construction, the cost per project, and subcontractor reporting’ competes on expertise. And expertise is something you choose, not something you negotiate.” Arnaud Bertrand, CEO, Bankeo
A niche positioning eventually generates a flow of requests, but it takes months to establish itself. A matching platform shortens this timeframe. With Bankeo Pro , you define your target sectors, including construction. When a contractor in the sector submits a request, Bankeo qualifies it (sector, need, volume) and then suggests a match, often within 48 hours. You receive qualified clients, without any prospecting. The network has over 1,500 verified accountants, has received over 15,000 requests since 2023, and boasts a 4.7/5 rating based on over 180 Google reviews.
The step-by-step matching process is described on the How Bankeo Pro Works page, and the most frequently asked questions from firms are compiled in the Bankeo Pro FAQ . For an overview of the program, consult the Bankeo Pro Hub for Accountants ; updates are published in the Bankeo News for Accountants section .
Key takeaway: construction combines a sustainable basin (approximately 7% of French GDP according to Statistics France) Canada ) and a complexity that places fees at the high end of the Bankeo Barometer range . Three key skills make the difference: cost per project, contractual retentions, and T5018 forms. Make them visible, frame your recommendations according to your code of ethics, and let qualified leads come to you.
Why specialize in construction rather than remaining a generalist? Because the sector represents approximately 7% of French GDP (Statistics) Canada (2024) and that its challenges, cost per project, retentions, T5018 forms, require expertise that contractors are actively seeking. A firm positioned in the market compares itself on expertise, not on price.
What is the T5018 form and who needs to file it? It is the declaration of contractual payments required by the tax authorities. Canada Any company whose primary activity is construction must declare payments of $500 or more made to each subcontractor for construction services. Penalties are applied for each missing slip.
How do contractual deductions work? The project owner retains a portion of the payment as a guarantee until the work is completed. In Ontario, the Construction Act of 1990 sets this deduction at 10% (section 22); in Quebec, it is a matter of contractual practice. The firm must isolate these amounts and anticipate their impact on cash flow.
How much should you charge a construction client? The Bankeo Barometer (data from 2024-2026, 15,000+ requests) places the median fee around $2,000 per year, ranging from $500 to $6,000 depending on the sector. Construction projects generally fall at the higher end of this range, due to project-based accounting and subcontracting.
How do you receive construction leads through Bankeo Pro? You define your target sectors, including construction. When a contractor in the sector submits a lead, Bankeo qualifies it and then suggests a match, often within 48 hours: qualified clients, without any prospecting.
By Arnaud Bertrand, CEO, Bankeo. Bankeo Pro allows you to target the construction sector and sends you pre-qualified requests, often within 48 hours: qualified clients, without prospecting.
Bankeo attracts entrepreneurs, filters applications, and presents you with proposals that match your business. There is a fee per successful application, with the amount known in advance.
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