Accountants for Builders, Trades, Contractors, Project Managers & Other Construction Businesses
Working in building and trades normally means long days on site with little-to-no time for paperwork. Staying on top of accounting, payroll and reporting can quickly fall behind, which we know can be a nightmare for you to try and catch up on and make accurate.
We support builders, tradies, contractors, project managers and other construction businesses across residential and commercial projects across Brisbane, the Gold Coast and the Northern Rivers. Our accountants for builders get the industry and all the ins and outs, so you can focus on what’s happening on-site.
Our Construction Bookkeeping, Tax, BAS & Financial Services
Construction industry financial management
Accountants For Construction Industry With 45+ Years of Experience
More than 45 years in the construction industry means you get an accounting partner who already understands subcontractors, project complexity, cost reporting and compliance. All of our accounting, tax and financial management services are shaped around the way you operate as a construction business operates in the real world, not a standard office environment.
Our construction accountants are also confident in the complexities of QBCC requirements, including the importance of keeping licences active and accounts ready for review each year. You’ll receive guidance, setup support and industry-aligned bookkeeping to help keep your finances clear and accessible, even when jobs are moving quickly.
By working with us, you get clarity, reporting accuracy and systems that work from site to office. Builders can build, trades can get the work done and the numbers are kept organised in the background.
Construction Accounting For Brisbane, Gold Coast & Northern Rivers Businesses
Construction businesses across Brisbane, the Gold Coast and the Northern Rivers rely on accounting that keeps pace with the job. Working from our Burleigh Heads office, we have plenty of parking and are just minutes from public transport, so you can swing by when you knock off for the day. Drop into the office or keep things running remotely while you’re on site.
More Ways We Can Help Construction & Trade Businesses
Accounting is just the start of how Crest can support your business. We can also help with:
- Law
- Lending
- Wealth Management
- Insurance
- Bookkeeping
- Accounting
Frequently Asked Questions About Accounting For Construction Companies
Yes, construction accounting is considered one of the harder industries. There are multiple complexities to juggle, including managing multiple long-term, project-based contracts, fluctuating costs and accurately recognising the revenue of each job. It leaves no room for error.
Construction businesses in Australia mainly use job cost accounting, but may also use project-based or percentage-of-completion accounting to track income accurately based on the progression of work. For example, with percentage of completion accounting, revenue is recognised gradually as stages of work are completed.This can be beneficial for long-term projects. Completed contract accounting only tracks revenue and profit once the entire job is finished.
Construction accounting is different to other industries. The moving costs, long project timelines, ongoing variations and payments that rarely come in one clean chunk make standard accounting not ideal to use. Revenue is often measured in progress, rather than at completion of a job, and costs must be tracked per project, not just as business-wide expenses.
The Queensland Building and Construction Commission (QBCC) requires licensed contractors to meet Minimum Financial Requirements (MFR) to maintain their licence. This means your financial accounts need to be kept in good order throughout the year, not just at tax time, because the QBCC can request a review of your financials to verify you meet the net tangible assets threshold for your licence category. Falling below the required level puts your licence at risk, which can bring your business to a halt. Our team understands QBCC MFR obligations and can help you structure your finances and reporting to stay compliant and keep your licence active.
Delayed progress payments are one of the biggest cash flow pressures in the construction and trade industry. Between retentions held by head contractors, slow-paying clients, and the gap between completing work and receiving payment, it is easy for a business to look profitable on paper while struggling to meet its obligations. We help construction businesses build a realistic cash flow forecast that accounts for these timing gaps, plan payment schedules for suppliers and subbies, and identify early warning signs before a shortfall becomes a crisis. We can also connect you with our lending partners if short-term finance options are needed.
Many tradies reach a point where they are maxed out doing the work themselves and want to take on employees, subcontractors, or larger projects but are unsure whether the numbers actually stack up. An accountant who understands the construction industry can help you model what growth looks like financially, including the real cost of taking on staff, the margin you need to make on subcontracted labour, and what turnover level justifies a more complex business structure. We work with construction business owners at every stage, from sole operator through to multi-site builders, helping them make confident decisions backed by clear financial analysis.
News about Contruction & Trade
REMINDER: Paid a tradie? TPAR reporting is due 28 August
COVID-19 Adaption Grant Program, Round 2 is on its way!
Construction and Trade Accounting in 2020: What you need to know
Business & Accounting New Year Resolutions
What the New Building and Constriction Legislation Means to You
Women in Finance Awards Night 2019 – The Star Sydney
‘In The Cloud’ Accounting – Is Xero Right for By Business?
Want to Grow your Business? How Structuring it the Right Way can Help
