Holdback tracking, CCA depreciation on your van and tools, T5018 slips for subs, and job costing that separates your service calls from your new construction margins.
Plumbing businesses in Ontario typically operate across multiple revenue streams at once: emergency service calls that pay the same week, renovation work that runs net-30, and new construction contracts that can take 60–90 days and come with a 10% holdback you can't touch until the job is complete.
On top of that, you're carrying significant assets (your service van, your tools, your pipe stock) that need to be depreciated correctly for CRA. Permit fees are a real project cost. And if you use any specialty subs or helpers, T5018 reporting is mandatory whether you know it or not.
Moyano & Co. specializes in trades businesses. We know the financial structure of a plumbing operation and we set up your books to give you a clear picture every month: by job type, by margin, by upcoming deadlines. No surprises.
We record holdbacks as accounts receivable, not missing income, so your financial statements are accurate and you always know what's owed and when you can collect it.
Your service van and major tools are depreciable assets. We track the correct CCA classes so you maximize your write-offs each year without triggering CRA review.
Materials, labour, and permits tracked per job. We show you what each service call, renovation, and new construction project actually cost, and what margin you made on each.
Pay a drain specialist, HVAC rough-in sub, or any other trades person $500+ in a year? CRA requires T5018 slips. We track it all year and file in February.
We file your HST quarterly or annually, and we run the Quick Method comparison every year. Many plumbers save hundreds staying on or switching to the Quick Method.
Permit fees are a real cost of doing the work. We assign them to the right job so your margins on each project are accurate, not inflated by missing costs.
Every transaction categorized, every account reconciled. Clean books delivered monthly.
Learn moreQuarterly or annual HST returns, Quick Method analysis, and zero missed deadlines.
Learn moreEmployee payroll, CPP/EI remittances, T4 slips, and subcontractor T5018 filings handled.
Learn moreWe track your holdback receivables correctly so your AR picture is always accurate.
Learn moreBehind on your books? We'll get you current, even years of backlog, no judgement.
Learn morePlumbing businesses carry high material costs, permit fees, and significant vehicle and tool assets that need CCA depreciation tracked correctly. You operate across emergency service calls, renovations, and new construction, each with different margins and billing cycles. Holdback tracking from GC contracts adds another layer most bookkeepers don't understand.
Under Ontario's Construction Act, a 10% holdback is typically withheld from progress payments on construction contracts. This holdback is money you've earned but can't collect yet. It needs to be recorded as accounts receivable, not missing income. We track holdbacks separately so your cash flow picture is accurate and you always know when and how much to expect.
Your service van falls under CCA Class 10 or 10.1 depending on cost, and major tools have their own class. We track these correctly every year so you claim the right depreciation amounts. For larger equipment purchases, we'll advise on timing your deductions for maximum tax benefit, legally and without CRA exposure.
Any time you pay a subcontractor $500 or more in a calendar year in the construction industry, CRA requires a T5018 slip. This applies to specialty subs: drain work, HVAC rough-in, any trade you bring in for a job. We track sub payments throughout the year and file T5018s by the February deadline.
Yes, this is exactly what job costing is for. Emergency service calls and new construction have completely different billing structures, payment timelines, and margins. We set up your chart of accounts to separate both so you see profitability by work type. Most plumbers are surprised to find their emergency call margins are higher than they thought, and new construction margins are lower.
Book a free 30-minute consultation. We'll walk through your setup and tell you what needs fixing. No obligation.