Contractors Bookkeeping Squamish – Tips and Tricks
- Fraser Barrett
- Nov 21
- 3 min read
I’ve been doing bookkeeping for Squamish and Sea-to-Sky construction companies, tradespeople, and renovators for over 6 years. Trust me, I’ve seen it all: shoeboxes of crumpled receipts, “I’ll enter it later” QuickBooks files that are two years behind, and the dreaded CRA audit notice that shows up right before fishing season.
If you’re a contractor or tradesperson in Squamish, good bookkeeping isn’t just paperwork. It’s literally the difference between making real money and just staying busy.
Here’s exactly what works (and what doesn’t) for our local industry.
1. Track Every Job Like It’s Its Own Mini-Business (Because It Is)
Most contractors lose thousands every year because they dump everything into one giant bucket. Instead, use job costing from day one.
Actionable step right now:
In QuickBooks, set up each job as a separate “Project” or “Class.”
Example: “Smith Residence Reno – Valleycliffe” or “Highway 99 Retaining Wall – Project 2025-18”
Top Tip: Don’t let the good jobs pay for the bad ones, each job needs to be profitable. This can only be achieved by tracking each one.
2. Stop Losing Receipts on Dashboards and Job Sites
Squamish weather destroys paper receipts in about 3 days. Here’s what actually works:
Use Hubdoc or Dext (both integrate with QuickBooks/Xero) — snap a photo with your phone and it’s gone forever from your truck.
Set a rule: No leaving the job site until every receipt that day is photographed.
For big material runs (Home Depot Squamish, Windsor Plywood, etc.), forward the email receipt straight to your dext inbox.
Pro tip: Create a dedicated Gmail just for receipts (receipts@yourcompany.ca) and connect it — zero effort.
3. Handle Progress Billing the Right Way (Avoid the Tax Nightmare)
Most Squamish contractors bill a deposit, then progress draws, then final. If you’re not bookkeeping these correctly, you’re either paying tax too early or risking a huge bill later.
Do this:
Record customer deposits as liabilities (unearned revenue), not income.
Invoice progress draws and only recognize income when the work is done.
Use percentage-of-completion if your jobs go over year-end (most accountants in town can show you how).
4. Track Equipment and Tools Properly
That $35,000 excavator? The trailer? The Hilti tools you buy every year? These are gold if tracked right.
Set up an asset register (In excel or quickbooks)
Depreciate heavy equipment over the correct CCA class (Class 8, 10, or 16 — ask me if you’re unsure).
Anything under $500? Write it off immediately as small tools
5. Deal with Subcontractors and WCB Like a Pro
Sea-to-Sky trades love using subs, but sloppy records will bite you.
Always get their WSBC clearance letter before they start and file it.
Issue T5018s for any sub paid over $500 (CRA will fine you $25–$100 per missing slip — I’ve seen it).
Track holdbacks (10% is standard in BC) and release dates.
Quick win: You file T5018 within Quickbooks
6. Vehicle and Home Office Deductions — Don’t Leave Money on the Table
Half the contractors I meet are scared to claim vehicle expenses after hearing horror stories. Here’s the safe way:
Keep a simple logbook (I love the Driversnote app — it tracks automatically).
Claim actual expenses (fuel, insurance, repairs, lease) based on business percentage.
Home office? Claim a portion of rent/mortgage interest, utilities, insurance — yes, even if you live in a condo in downtown Squamish.
Link to driversnote: https://www.driversnote.ca/
7. Cash Flow Forecasting for Squamish’s Crazy Seasons
Summer you’re slammed, winter you’re praying for calls. Forecast or die.
Every month, do this 60-second exercise:
List money coming in next 60 days (progress draws, finals, deposits).
List money going out (materials, subs, WCB, GST/PST).
Whatever’s left = breathing room.
Top Tip: Building every construction client a one-page cash-flow tracker in Google Sheets.
Final Thought: Good Bookkeeping = Financial Clarity
You don’t have to become an accountant — you just need systems that take 2 -3 hours a week
Let’s get your books dialed in before the 2026 busy season hits.
Book a free 30-minute “Bookkeeping Consult” with me — I’ll go through your last 3 months of QuickBooks (or shoebox) and show you exactly where money is slipping away and how to plug the leaks.
Looking forward to helping you keep more of what you earn,
Squamish’s Construction Bookkeeping Specialist Aspect Accounting
Serving Squamish, Whistler, and the Sea-to-Sky Corridor
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