Construction Bookkeeping Services in Sydney – Trinity Accounting Practice

Why Bookkeeping Is Essential in the Construction Industry

Construction businesses face complex financial challenges — from progress payments and subcontractor tracking to dealing with fluctuating material costs and cash flow gaps. Bookkeeping isn’t just a compliance task; it’s critical for profitability, tax minimisation, and staying on top of every moving part.

At Trinity Accounting Practice, we specialise in construction bookkeeping that makes your numbers simple, actionable, and ATO-compliant.

Common Bookkeeping Challenges for Builders and Contractors

Construction and tradespeople often struggle with:

• Tracking project-specific costs
• Managing subcontractor payments and tax compliance
• Delays in invoicing and collecting payments
• Reconciling progress payments vs. project timelines
• Payroll complexities for rotating teams

Without clear, real-time books, projects run over budget and tax returns become risky. Our tailored construction bookkeeping services help mitigate these problems so you can focus on building.

What Is Included in Construction Bookkeeping?

Construction bookkeeping goes beyond basic business bookkeeping. Here's what we cover:

Progress Claims and Invoicing

We help you set up systems that align with your builder contracts, retention payments, and stage-based invoicing. This ensures timely progress claims and healthy cash flow.

Subcontractor Tracking and STP Reporting

Managing ABN-registered subcontractors? We help you:

• Track payments and withholding obligations
• Issue compliant subcontractor summaries
• Handle Taxable Payments Annual Report (TPAR) submissions

Project Costing and Job Tracking

Using Xero Projects or third-party tools, we categorise all expenses by job. You’ll know which projects are profitable and where blowouts are occurring.

Payroll and Time-Sheet Management

Whether you have direct employees or rotating labour hire, we streamline:

• Payroll
• Superannuation
• Allowances and overtime
• Single Touch Payroll (STP) reporting

Business Activity Statements (BAS)

We prepare and lodge quarterly or monthly BAS returns, including:

• GST from materials and subcontractors
• PAYG withholding
• Fuel tax credits (if applicable)

Chart of Accounts Customisation for Construction

Your books shouldn’t look like a retail shop. We set up a construction-specific chart of accounts that includes:

• Cost of goods sold (COGS)
• Project-specific income and expense lines
• Equipment and depreciation tracking
• Loan and asset accounts

Why Choose Trinity Accounting Practice?

We’re not a generalist firm. We’re a construction-focused accounting partner who understands your world — from subcontractor onboarding to dealing with withheld payments and retentions.

Here’s why builders and contractors choose us:

• ✅ 22+ years of experience in tax and bookkeeping
• ✅ Local to Sydney, based at 159 Stoney Creek Road Beverly Hills NSW 2209
• ✅ After-hours and weekend appointments available
• ✅ Fixed-fee packages, no surprises
• ✅ BAS, payroll, bookkeeping, and tax returns under one roof

📅 Book a consultation today: https://calendly.com/ramy-hanna

☎️ Call us at 02 9543 6804

Construction Bookkeeping and Xero

We are certified Xero Advisors and help construction businesses get the most out of their software.

Xero Setup for Builders

• Construction-specific chart of accounts
• Bank rules for suppliers like Bunnings, Reece, and Stratco
• Project-based tracking using Xero Projects
• Invoice templates that match your progress claim stages

Ongoing Support

We don’t just set up Xero — we:

• Reconcile your books monthly
• Send reminders for invoices and payroll
• Lodge BAS and tax returns directly from Xero

Bookkeeping for Tradies and Subcontractors

Are you a solo plumber, electrician, concreter, or carpenter? We offer bookkeeping packages built for you too:

• Bank reconciliation
• Tax-deductible expense tracking
• GST setup and BAS lodgement
• Support claiming vehicle and tool costs

From sole traders to growing construction groups, we’ve got you covered.

ATO Compliance for Construction Bookkeeping

Construction is an ATO high-risk industry. We ensure full compliance with:

• BAS and PAYG
• Superannuation
• TPAR (for subcontractors)
• Record-keeping and audits

If your books are behind or your BAS is late, we help fix it fast and communicate with the ATO on your behalf.

Tax Planning for Builders and Tradies

Bookkeeping helps us give you real-time tax insights. We offer:

• Estimated tax payable each quarter
• Advice on asset purchases and vehicle write-offs
• Division 7A and company structure reviews
• Tax-effective trust and company setups

Good books lead to better tax planning — and more money in your pocket.

Construction Bookkeeping Packages We Offer

Here’s a sample of our monthly packages:

PackageSuitable ForInclusionsStarterSole TradersXero setup, BAS, email supportBuilder ProSmall CompaniesWeekly bookkeeping, payroll, BASSite CrewLarge TeamsFull bookkeeping, job costing, payroll, reporting

We also offer catch-up bookkeeping for clients behind on BAS or tax lodgements.

Catch-Up Bookkeeping for Builders

Behind on your books? No judgment here. We:

• Sort receipts and match transactions
• Rebuild accounts from PDF bank statements
• Reconcile past years in Xero or MYOB
• Get you back on track for ATO lodgement

Bookkeeping is the foundation — we’ll rebuild it for you.

FAQs About Construction Bookkeeping

What is the difference between construction and regular bookkeeping?
Construction bookkeeping includes progress claims, job tracking, TPAR, and complex payroll setups — which are not part of standard bookkeeping.

Do I need Xero for construction bookkeeping?
It helps. We’re Xero-certified and can build a construction-specific setup for you.

What are the tax risks for construction companies?
The ATO audits subcontractor payments, fuel claims, GST errors, and cash jobs. Keeping accurate books is your best defence.

Can I claim tools and ute expenses?
Yes, provided they’re business-related. Good bookkeeping helps you track and substantiate these claims.

How much do your bookkeeping packages cost?
We offer custom quotes based on your size and needs. Book a free call to get started.

Let’s Build Your Numbers Right

Whether you’re building homes, pouring concrete, or wiring commercial sites, you need a bookkeeping partner who understands the construction space — not just spreadsheets.

👉 Trinity Accounting Practice
✅ Accounting Firm in Beverly Hills
☎️ 02 9543 6804
📍 159 Stoney Creek Road Beverly Hills NSW 2209
🌐 www.trinitygroup.com.au
📅 Weekend & after-hours appointments available!
📅 Booking Link: https://calendly.com/ramy-hanna

Let’s lay the financial foundation for your success.

‍

‍

📌 Learn more about what we offer:
https://www.trinitygroup.com.au/services

📌 Discover the industries we specialise in:
https://www.trinitygroup.com.au/niches

📌 Read more tax and accounting tips on our blog:
https://www.trinitygroup.com.au/explore-learn

‍