Accounting for hvac contractors in Ontario
HVAC businesses carry inventory, offer maintenance contracts, and often finance equipment for customers. Deferred revenue on service plans and warranty work make the bookkeeping trickier than a typical trade.
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taxifi · HVAC Contractors
This month
- Bookkeeping Current
- Payroll & source deductions Filed
- HST Filed
- Year-end tax (T2) On track
The problems we take off your plate
Maintenance-contract revenue
Prepaid service plans shouldn't all land as income up front. We recognize them over the contract so your revenue and taxes aren't overstated.
Parts and equipment inventory
Inventory and financed equipment are tracked cleanly, so your margins and your capital cost allowance are both right.
Warranty and callback work
Callbacks and warranty jobs are tracked against the original work so you can see true job profitability.
Payroll and WSIB
Technician payroll runs on schedule with source deductions on time, and records stay WSIB-ready year-round.
What’s included
One flat monthly price for incorporated Ontario hvac contractors. Everything below is in it.
- Bookkeeping for service contracts and deferred revenue
- Inventory and parts tracked cleanly
- Payroll, source deductions, and WSIB-ready records
- HST returns prepared and filed
- Year-end corporate tax (T2), included
| Area | A typical setup | With taxifi |
|---|---|---|
| Your books | Weeks or months behind | Current every day |
| Year-end (T2) | A spring scramble, billed extra | Included, no surprise invoice |
| Your accountant | Metered by the hour | Unlimited questions, flat monthly |
Common questions
Can you handle maintenance-contract revenue?
Yes. Prepaid service plans are recognized correctly over the contract, so your revenue and taxes aren't overstated up front.
Do you work with incorporated HVAC businesses?
Yes. Incorporated HVAC contractors are a core fit for the monthly service.
Books and taxes for your HVAC contractor, done
One flat monthly price for Ontario businesses, scoped on a discovery call.
Book a discovery call