Construction has financial obligations that no other industry shares: holdbacks, T5018 slips, progress billing, WSIB. We specialize in this. Your bookkeeper should too.
Most bookkeepers can reconcile a bank account. Far fewer understand the financial mechanics of Ontario construction: the statutory 10% holdback under the Construction Act, T5018 reporting obligations for every subcontractor, progress billing tied to draw schedules, job costing across multiple phases and trades, and the WSIB compliance requirements that touch every worker on your site.
Moyano & Co. works exclusively with trades and construction businesses in Barrie and Ontario. We built our practice around the specific financial structure of construction, from owner-operators who do their own sub work to mid-size GCs managing six-figure project budgets and a full subcontractor roster.
You get clean, accurate books every month, plus a bookkeeper who actually understands what you're looking at when you read your financial statements.
These are the areas where a general bookkeeper costs you money, and where we add specific value.
Ontario's Construction Act requires a 10% holdback on every progress payment. These holdbacks flow through the entire payment chain, from owner to GC to subtrades. They need to be tracked as AR and AP, not treated as missing money. Most bookkeepers either ignore them or record them wrong, distorting your financial statements on every construction project.
Read the holdback guide →Every subcontractor paid $500+ in a calendar year needs a T5018 filed with CRA by February 28th. This applies to every level of the payment chain, not just GCs. Missing T5018s is one of the top CRA audit triggers in construction, and the penalties accumulate fast. We track sub payments all year and handle filing well before the deadline.
Read the T5018 guide →Construction profitability lives at the job level, not in your blended P&L. Job costing assigns every cost (sub payments, materials, equipment, permits, your time) to the specific project that generated it. At completion you see actual margin versus quoted. Over time you learn which project types consistently hit margin and which you've been underpricing. That's how you grow a profitable construction business.
Learn about job costing →Construction is one of the most audited industries for worker classification. CRA uses a multi-factor control test, not just your contract, to decide whether your subs are actually employees. Getting this wrong means retroactive CPP, EI, and interest going back years. We help you classify your crew correctly, document working arrangements, and avoid the most expensive mistake in construction.
Read the CRA rules →Whether you're a GC managing subs or a subtrade working for GCs, we know your specific bookkeeping obligations.
Holdbacks in both directions, T5018 for your entire sub roster, job costing per project, progress billing, WSIB compliance. The most complex books in the trades, and the ones we know best.
GC bookkeeping →Material tracking, ESA/permit costs, T5018 for specialty subs, holdback receivables from GC contracts, CCA depreciation, and job costing by project type.
Seasonal cash flow, maintenance contract revenue, inventory tracking, crew payroll, and T5018 obligations, regardless of your specific trade.
Construction has financial structures that don't exist in most other industries: statutory holdbacks under Ontario's Construction Act, T5018 subcontractor reporting requirements, progress billing tied to draws, job costing across multiple trades and project phases, and complex employee vs. subcontractor classification rules. A bookkeeper who doesn't know these specifics will cost you money in missed deductions, CRA penalties, or simply wrong financial information that leads to bad decisions.
A T5018 is a CRA information slip required when anyone in the construction industry pays a subcontractor $500 or more in a calendar year. This applies at every level of the payment chain: GCs filing for their subs, electricians filing for specialty subs they hire, and so on. Missing T5018 filings is one of the most common CRA audit triggers in construction. They're due by February 28th each year.
Ontario's Construction Act requires a 10% holdback on each progress payment on a construction contract. This holdback can't be released until 45 days after substantial completion. In your books, holdbacks you're owed are accounts receivable, not missing income. Holdbacks you're holding for subs are a liability. Both need to be tracked correctly or your financial statements will be wrong on every active project.
Yes. We work with every level of the construction payment chain: GCs managing multiple subs and holdbacks in both directions, electricians and plumbers working as subtrades to GCs, and owner-operators who sometimes act as their own GC. The bookkeeping needs are different at each level and we tailor our setup accordingly.
Yes. We're 100% cloud-based in QuickBooks Online and Xero, with no drop-off appointments and no in-person requirements. We primarily serve Barrie and Simcoe County, but we work with construction businesses throughout Ontario. The Ontario Construction Act, CRA T5018 rules, and HST requirements are province-wide obligations, and that's exactly where our expertise applies.
Book a free 30-minute consultation. We'll walk through your specific situation (GC, subtrade, or both) and tell you exactly what your books need.