Accounting
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Accountants for Builders.
Specialist accounting for builders
You’re managing multiple job sites while coordinating subbies and keeping clients happy. The builds keep coming, but so does the paperwork. Tax payments pile up, progress claims sit unpaid, and you’re never quite sure if your business structure is costing you more than it should.
Walker Hill provides accounting services to builders across Brisbane and Australia. We handle your bookkeeping and tax planning so you can focus on delivering projects and growing your building business. You’ll know exactly where your money’s going, what you can claim, and how to protect what you’ve built.
Types of Builders We Provide Accounting Services For
The building and construction industry isn’t one-size-fits-all, and neither are the financial services behind it. We work with builders across a wide range of specialisations, each with distinct complexities.
- Residential builders
- Commercial builders
- Renovation specialists
- Custom home builders
- Project builders
- Shopfitters and fitout specialists
- Civil construction operators
- Carpentry and joinery businesses
Whether you’re a sole trader running your own tools or managing a team of 50 across multiple sites, we set up accounting systems that match how your building business actually operates. The financial challenges you face depend on your trade, your clients, and the types of projects you take on.
Accounting Services We Offer Builders
Bookkeeping and GST Compliance
Your transactions get recorded, categorised, and reconciled monthly. You’ll know what’s in the bank, what clients owe you, and what you owe suppliers and sub contractors. We provide comprehensive bookkeeping services built around the building and construction industry, not generic small business templates. Our bookkeeping services handle the daily financial admin. We also manage your GST obligations, ensure compliance with Australian tax laws, and lodge your Business Activity Statements on time through our BAS agent services.
Tax Planning and Minimisation
We work with you throughout the year to structure your financial affairs in a way that legally reduces your tax liability. That means identifying deductions you’re entitled to, timing income properly, and making sure your tax structure works for you as your business grows. Our approach to business tax planning focuses on effective tax strategies that deliver real tax savings, not just lodging returns. We help you understand the right tax structure for your building business, whether that’s operating as a sole trader, company, or trust.
Payroll Management
Got employees or subbies on the books? We handle payroll services including PAYG withholding, superannuation guarantee obligations, Single Touch Payroll reporting, and leave entitlements. Everything stays compliant and gets lodged on time. You’re protected if the ATO comes asking questions. Our payroll services take the entire burden off your plate so you can focus on running your sites.
Cash Flow Forecasting and Management
Builders deal with lumpy income and progress payments that don’t match your expense timing. We build cash flow forecasts that account for project timelines, payment terms, seasonal variations in the construction sector, and retention periods that lock up your cash. You’ll know when money’s coming, whether you can take on the next project, and how to maintain healthy cash flow even when payments are delayed.
Financial Reporting and Job Costing
ou’ll get monthly or quarterly financial reporting that shows where your money’s going and whether your building business is heading in the right direction. We don’t just hand you a profit and loss statement then disappear. We track profitability by project so you know which jobs made money and which ones didn’t. This financial data helps you price future work properly and identify where costs are blowing out before they kill your profit.
Business Structure Advice
Operating as a sole trader might have worked when you started. As your building business grows, the right business structure becomes critical for asset protection and tax efficiency. We advise on when to restructure, how to set up entities that protect your personal assets from business risks, how to bring in new business partners or family members, and how to prepare for eventual succession or sale. Our business structuring services are tailored to where you’re headed in the building and construction industry.
Business Advisory and Strategic Planning.
We work closely with you to interpret the numbers and give you practical business advice that actually helps you make decisions. Need to know if you can afford that new ute? Wondering whether it’s time to hire another supervisor? Trying to work out your capacity for the next quarter? Considering expanding into commercial work? We provide the financial management support builders need to scale sustainably through our business advisory services.
Virtual CFO Services
Running a large construction company or managing significant projects? We act as your outsourced finance function. That means budgeting, forecasting, KPI tracking, and business planning alongside your leadership. Our virtual CFO services give you the financial expertise of a CFO without the full-time cost.
Why Do Builders Need Specialist Accounting?
The building and construction industry operates differently from most other businesses. You’re dealing with long project timelines, progress payments, retention amounts, warranty periods, defect liability, and performance bonds. A generalist accountant might get your tax return lodged, but they won’t understand why your cash flow looks healthy one month and terrible the next despite strong revenue.
Industry-Specific Tax Knowledge That Protects You
Construction accounting requires technical tax knowledge specific to the industry. You’re claiming vehicle expenses for multiple vehicles, equipment depreciation, materials purchased months before they’re installed, warranty provisions, insurance that covers extended liability periods, and safety equipment and clothing. Get it wrong and you either overpay tax or claim things incorrectly, risking an audit.
Job Costing That Shows Your True Profitability
Then there’s the complexity of job costing. A standard profit and loss statement doesn’t tell a builder much. You need to see profitability broken down by project, by job type, by client, and sometimes by crew or supervisor. You need to understand your true costs including all the hours, all the materials, all the subcontractor fees, waste, warranty work that comes later, and variations that weren’t properly documented. Without that level of detail, you’re making decisions about future business based on incomplete information.
The Hidden Cost of Poor Record Keeping
Poor record keeping is one of the most common causes of business failure in the construction sector. Projects blur together, costs don’t get allocated properly, and variations aren’t tracked. Suddenly you’re three months into a job realising you’re losing money on work you thought was profitable.
All of the above is where builder accountants come in. We understand progress billing, how to manage cash flow around delayed payments, how to structure your business to protect personal assets from the risks inherent in construction work, and how to plan for the cyclical nature of the building industry. We know the unique financial challenges builders face because we work extensively with the building and construction industry.
Common Accounting Challenges Builders Face
Every builder hits the same financial pain points. The ones who achieve financial success solve these problems early.
Managing Cash Flow Between Progress Payments
You complete a stage, submit a progress claim, and then wait. Meanwhile, you’ve got materials to order for the next stage, subbies chasing payment, suppliers on 30-day terms who won’t extend further, and equipment hire that’s due regardless of whether you’ve been paid. Money comes in lumps tied to contract milestones, but expenses happen weekly.
Walker Hill sets up cash flow forecasting that shows you what’s coming and when. We help you structure payment terms in your contracts that keep cash moving, advise on how much working capital you need for each project, flag when you’re taking on more work than your cash position can support, and help you plan for the gap between completing work and receiving payment. You’ll know if you can start that next job or if you need to wait until outstanding progress claims clear.
Tracking Job Profitability Accurately
You might be turning over good money, but if you’re not tracking costs by job, you won’t know which projects actually made profit and which ones cost you. Some builders quote work, finish the build, and realise they barely broke even after accounting for all the variations, time overruns, warranty callbacks, and undocumented extras that clients now claim were included in the original price.
Walker Hill implements job costing systems through your accounting software so you see exactly what each project cost and what margin you made. That financial data helps you price future work properly, understand which job types deliver the best return, identify clients who consistently cause scope creep, and spot patterns in cost overruns across different trades or project types.
Claiming All Available Tax Deductions
Builders have more deduction opportunities than most business owners, but they’re also more likely to miss them. Receipts get lost, vehicle expenses aren’t tracked properly, tools purchased throughout the year don’t get recorded, small material purchases for jobs add up but never make it into the books, and safety gear and work clothing get overlooked.
Walker Hill connects your accounting software to your bank accounts so transactions get matched automatically. Everything gets categorised as it happens, not months later. When tax time arrives, we pull your deductions and lodge your return without needing you to remember every Bunnings receipt from March. Our guide to tax deductions for small businesses covers what builders need to know, including vehicle expenses for work vehicles and tools.
Dealing with Variations and Scope Creep
Client wants to upgrade the kitchen mid-build. Plans change. Something unforeseen gets discovered during demolition. Variations are part of the building industry, but if you’re not tracking them properly, they become profit killers. You do the extra work, finish the job, send the final invoice, and the client disputes half the variations because there’s no clear paper trail.
Walker Hill helps you set up systems that track variations as they happen. Every change gets documented, costed, and approved before work proceeds. Your financial reporting shows variation income separately from base contract so you can see whether the extras are actually profitable or just adding to your workload without improving your bottom line.
Understanding Your Largest Financial Obligations
Between PAYG instalments, GST, superannuation guarantee obligations for employees, insurance premiums, equipment finance, and workers compensation, you’ve got significant financial obligations hitting throughout the year. Miss a super payment and you’re breaking the law. Underestimate your PAYG and you’re facing a big tax bill in July with no cash to cover it.
Walker Hill manages your tax payments throughout the year, calculates what you need to set aside, sends reminders before payments are due, and ensures your super gets paid on time. We track your superannuation guarantee obligations, ensure compliance with payroll tax if you cross the threshold, and keep you informed about what’s coming so there are no surprises.
Scaling Without Losing Control
You start as a self employed builder running your own tools. Work picks up. You bring on a labourer, then an apprentice, then another qualified tradesman, and then a site supervisor. Suddenly you’re managing payroll, workers compensation, vehicle fleet, workshop overheads, and multiple sites running simultaneously. The accounting complexity multiplies. Your bookkeeping needs expand, financial management becomes critical, and you need systems that scale with you.
Walker Hill helps you grow without losing control. We set up payroll systems, implement financial reporting that works as your team expands, advise on when it’s time to bring in supervisors or admin support, help you understand whether your pricing structure supports the business you’re building, and identify the point where overhead growth starts eating profit. You’ll know when scaling makes sense and when you’re growing too fast for your cash position.
Protecting Personal Assets from Business Risk
Construction work carries inherent risk. A retaining wall fails. A client alleges defects. A subcontractor gets injured on your site. Materials damage neighbouring property. Without the right business structure and insurance, your personal assets are exposed. Your house, your savings, and your family’s financial security are all at risk if something goes seriously wrong on a job.
Walker Hill advises on structures that provide asset protection. We’ll review whether your current setup exposes you unnecessarily, help you establish entities that separate business risk from personal wealth, ensure you’ve got appropriate insurance coverage for the types of work you’re doing, and advise on contract structures that limit your liability. We also connect you with business advisors who understand the building and construction industry if you need specialist support beyond accounting.
How Walker Hill Supports Builders?
We don’t treat builders like every other small business. The financial challenges, tax compliance requirements, and cash flow issues are specific to the building and construction industry. Our services reflect that.
Structuring Your Business for Protection and Efficiency
We start by getting your business structure right. That means reviewing your current setup, identifying risks, and advising on whether you need to restructure for better protection and tax efficiency. Operating as a sole trader but taking on projects that carry significant liability? We’ll tell you. Got business partners but no proper agreement in place? We’ll help you fix it.
Automated Bookkeeping and Reliable Financial Systems
On the bookkeeping side, we integrate your accounting software program with your bank feeds so transactions flow through automatically. You won’t be manually entering invoices or expenses. Everything gets categorised correctly, your books stay current, and your financial reporting reflects what’s actually happening. We work with Xero, MYOB, and other platforms, setting them up properly from day one.
Proactive Tax Planning That Delivers Real Savings
Tax planning happens throughout the year, not just at tax time. We don’t wait until June to tell you what you owe. We work with you to time income, maximise deductions, and structure your affairs to legally reduce your tax liability. You’ll know what’s coming well before lodgement. Our effective tax strategies deliver real tax savings, not just compliance.
Job-Level Reporting for Smarter Decision-Making
For builders juggling multiple projects, we provide financial reporting that breaks profitability down by job, by client, by project type, and by crew or supervisor if that matters for your business. You’ll know which work is making money, which clients are costing you more than they’re worth, where your profit margin is actually sitting, and which parts of your business deliver the best return.
Direct Access to Construction-Savvy Accountants
You’ll also have direct access to accountants who understand the building industry. Got a question about claiming tools? Need advice on pricing a complex job? Want to know if you can afford to hire? Wondering whether to buy or lease that excavator? Ask and you’ll get valuable advice based on your actual situation, not generic guidance that doesn’t apply to construction businesses.
Brisbane Based Accountants, Supporting Builders Locally and Australia Wide
Find Us in Brisbane
We’re based in Petrie Terrace, close to the CBD and accessible from anywhere in greater Brisbane. You can meet us in person, call, or email through your contracts and financial questions.
Office Address: Level 2, 80 Petrie Terrace, Brisbane, QLD 4000
Phone: 07 3367 3155
Email: support@walkerhill.com.au
Office Hours: Monday to Friday, 8:30am — 5:00pm
Appointments available outside business hours by arrangement if you need to meet after hours or on weekends.
Virtual Accounting Services for Builders Nationwide
You don’t need to be in Brisbane to work with us. We support builders right across Australia using cloud-based accounting software, video calls, and shared document platforms. Based in Sydney, Melbourne, Perth, or regional areas? You’ll get the same level of service, technical tax knowledge, and industry expertise.
Everything happens online. You upload your invoices and progress claims as they come in. We handle all the bookkeeping and tax planning on the back end. You get regular financial reporting that keeps you on top of your business financial health.
Book a Free Builder Accounting Strategy Session
We’ll review your current setup, identify gaps in your structure or compliance, and show you how we’d handle your finances going forward. No obligation, no pressure. Just a straight conversation with accountants who specialise in the building and construction industry.
This free consultation covers your business structure, tax obligations, and what a proper accounting setup looks like for your building business. We’ll discuss effective tax strategies specific to your situation, how to improve cash flow management, and what changes would deliver the most value.
Call us on 07 3367 3155 or email support@walkerhill.com.au to book your session.
Xero Partner and Finalist.
Xero Accounting Partner of the Year Finalist FY22
FAQs About Builder Accounting
What's the difference between construction accounting and regular business accounting?
Construction accounting needs to handle job costing, progress billing, retention amounts, warranty provisions, and long project timelines that span financial years. You’re tracking costs against specific projects, managing cash flow around payment milestones, and dealing with variations that affect profitability. Regular business accounting doesn’t account for these complexities. Standard profit and loss reporting doesn’t show you whether individual jobs were profitable or where your margin is actually sitting.
How do I know if I'm paying too much tax as a builder?
If you’re not tracking vehicle expenses properly, missing equipment depreciation, failing to claim small tools, and not optimising your business structure, you’re probably paying more than you need to. Many builders also miss deductions for home office use, work clothing, safety gear, professional development, industry memberships, and software subscriptions. A proper tax structure review with builder accountants will identify where you’re leaving money on the table. The difference between paying too much tax and paying the right amount can be tens of thousands annually.
Should I operate as a sole trader or set up a company?
Starting as a sole trader is common because it’s simple and low-cost. However, as your building business grows, the liability risks increase. A company structure offers better asset protection, potential tax advantages, makes it easier to bring in business partners or pass the business on in future, and provides more credibility with larger clients. The decision depends on your turnover, the types of projects you take on, your risk exposure, and long-term goals. Our business structuring advice page explains the options in detail.
How can I improve cash flow in my building business?
Start by structuring better payment terms in your contracts. Front-load deposits, tie progress payments to stages that match your actual costs, and minimize the retention period. Track your receivables closely and chase overdue progress claims immediately. Build a cash flow budget that accounts for the timing gap between paying suppliers and receiving client payments. Set aside money during busy periods to cover quiet times. Our guide on how to calculate cash flow walks through the process.
What accounting software works best for builders?
Xero is widely used in the building and construction industry because it integrates well with job management software, handles multi-currency if you’re importing materials, supports multiple users across your business, and connects to bank feeds automatically. MYOB is another solid option. Some builders use purpose-built construction software that includes accounting modules. The right choice depends on your business size, the complexity of your projects, and whether you need integrated quoting and scheduling. We can help you choose and set up the software that fits your needs.
Do I need separate insurance for my building business?
Yes. You need public liability insurance as a minimum, plus contract works insurance for projects, professional indemnity if you’re doing design work, workers compensation if you have employees, and tools and equipment cover. Most clients won’t engage you without proof of adequate insurance. The coverage you need depends on the types of projects you take on, the value of the work, your contractual obligations, and whether you’re working on commercial or residential sites. This is separate from your accounting needs but critical for protecting your business.
How do I track profitability by job?
You need job costing built into your accounting software program. Every cost gets allocated to a specific project: materials, labour, subcontractors, equipment hire, site costs, waste disposal, and permits and fees. Your software tracks actual costs against quoted costs, flags when you’re over budget, and shows your margin on each job when it completes. This financial data is the most important business tool for builders because it tells you which work is actually profitable and informs your pricing on future projects.
Let’s talk accounting.
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