Construction and trades bookkeeping in Halifax

Follow the contract through the accounts

We retain the approved scope, changes, invoices and payment terms under a consistent project reference. Progress billing is distinguished from deposits, amounts awaiting certification and contractual holdbacks. The actual documents determine what each balance represents.

Materials, labour, subcontractors and direct equipment costs are assigned using a practical method. Loan principal and equipment purchases are not automatically treated as routine job expenses. Costs incurred, purchase commitments and estimates to finish remain separate in the forecast.

A progress-payment example

An illustrative Halifax project has a $22,000 approved invoice before applicable tax. Under its documented arrangement, $2,000 is retained and $20,000 is payable now. The schedule keeps the retained amount visible with the release conditions. This is a contractual example, not a statement of the statutory holdback rate for every project.

Keep employee and contractor records complete

Nova Scotia’s construction and property-maintenance wage order needs its own review; a general retail payroll template is not enough. WCB coverage and contractor clearance records are connected with the people and work actually involved.

Monthly reporting compares approved revenue, direct costs, invoicing and collections. Legal payment rights, lien or holdback deadlines and specialized tax positions require the relevant professional assessment. Bookkeeping supports that assessment with a clear evidence trail rather than deciding those questions from the project margin alone.

Questions about this work

Put this into practice

• Project costs →
• Progress-billing records →
• Customer balances →