Seasonal cash flow, recurring maintenance contracts, inventory, and technician payroll. HVAC bookkeeping has layers. We know all of them.
HVAC businesses in Ontario deal with a financial picture that shifts dramatically through the year. Spring and fall are peak install and service seasons. Summer and winter bring emergency calls. January and February can be slow. Meanwhile, your fixed costs (insurance, van payments, WSIB) run twelve months regardless.
Maintenance contracts help smooth the curve, but only if they're tracked correctly. Equipment inventory in your vans needs to be accounted for properly, not just expensed when purchased. And if you have service techs on payroll, classification (employee vs. subcontractor) is a recurring CRA audit target in this industry.
Moyano & Co. works exclusively with trades businesses. We understand the financial rhythms of HVAC contracting and build your books to show what's actually happening in your business, not just what moved through your bank account.
We build your books to show cash flow by month so you can see the slow months coming and plan accordingly, not just react when the bank balance drops.
Recurring contract revenue recognized correctly over the contract period. Your monthly P&L reflects what you've actually earned, not just what hit the bank.
Stock that lives in your van or warehouse is an asset, not an immediate expense. We track inventory correctly so your P&L isn't distorted by bulk purchases.
We handle payroll for your service techs, track WSIB premiums, and manage CPP/EI remittances. We also advise on the employee vs. subcontractor question, which is a common HVAC audit trigger.
Equipment installs and service calls have completely different margin profiles. Job costing shows you which work is actually most profitable so you can shift your focus accordingly.
We file quarterly or annual HST returns and run the Quick Method comparison. Many HVAC businesses save money on the Quick Method. We check every year.
Every transaction categorized, every account reconciled. Clean books delivered monthly.
Learn moreQuarterly or annual HST returns, Quick Method analysis, and zero missed deadlines.
Learn moreTechnician payroll, CPP/EI remittances, WSIB tracking, and T4 slips at year end.
Learn moreTrack margins on installs vs. service calls so you know where your profit actually comes from.
Learn moreMonthly P&L, cash flow, and seasonal trend reports. In plain language, delivered on time.
Learn moreBehind on your books? We'll get you current, even years of backlog, no judgement.
Learn moreWe build your books to give you a clear view of cash flow by month, including your recurring contract revenue versus install and service revenue. We also help you understand fixed vs. variable costs so you know exactly what you need to cover through the slower months and how much to hold in reserve from the busy season. No more surprises in February.
Maintenance contracts are recurring revenue, sometimes collected upfront, that needs to be recognized correctly over the contract period. We set up deferred revenue accounts where needed so your monthly P&L accurately reflects what you've earned versus what you've received. This gives you a true picture of profitability each month, not just a cash position.
If you're carrying significant equipment or parts (furnaces, AC units, refrigerant, common repair parts), yes, tracking inventory correctly matters. Expensing everything when purchased distorts your P&L and makes it hard to know your actual margins. We set up simple inventory tracking in QuickBooks Online or Xero that doesn't add overhead to your day.
When you supply and install equipment (a new furnace, air handler, or heat pump), the full transaction is generally subject to 13% HST in Ontario. We make sure you're charging, collecting, and remitting HST correctly across all your work types, and that you're claiming input tax credits on the equipment you purchase to do installs.
This is one of the most audited questions in the HVAC industry. CRA uses a multi-factor test (control, tools, chance of profit/loss, integration) to decide, not just what your contract says. Misclassifying an employee as a subcontractor can result in CRA demanding back CPP, EI, and interest. We'll walk you through the rules and help you get this right from the start.
Book a free 30-minute consultation. We'll walk through your setup and tell you exactly what needs fixing.