HVAC Bookkeeping Services
Keep your HVAC business profitable, compliant and running smoothly.
At Perfect 10 Bookkeeping, we specialize in bookkeeping and accounting for HVAC contractors. We understand the unique financial challenges HVAC companies face: tracking job costs across install, service and maintenance work; managing seasonal cash flow; reconciling equipment and parts inventory; and staying on top of Colorado’s tax requirements. Our HVAC bookkeeping services provide the financial clarity you need to make informed decisions, improve margins and grow your business.
Who We Serve
Residential and commercial HVAC contractors
Service and repair companies (heating and cooling system maintenance, AC repairs)
New system installers and retrofits (furnaces, heat pumps, ductless systems, mini‑splits)
Preventative maintenance plan providers (membership or service‑agreement programs)
New construction HVAC firms working on lump‑sum or time‑and‑materials contracts
Deliverables & Features
Clean, up‑to‑date books tailored to HVAC. We design your chart of accounts to separate service revenue, install revenue, equipment sales, parts, labor and overhead.
Robust job costing and work‑in‑progress (WIP) tracking. QuickBooks’ job‑costing tools help HVAC contractors accurately track labor (technician time), materials and equipment, subcontractors and work in progress to assess profitability for each jobbdrco.com.
Efficient invoicing and payments. We set up customized invoices that break down services, parts and labor; QuickBooks also facilitates online payments and recurring invoices for maintenance agreementsbdrco.com.
Payroll and time tracking. Technicians can clock in and out on the job; hours are assigned to specific jobs for accurate labor costing, and payroll is processed through QuickBooksbdrco.com.
Comprehensive financial reporting. You’ll receive profit & loss statements, balance sheets and cash‑flow statements tailored to an HVAC business, plus customizable reports tracking KPIs like job profitability by technician or service typebdrco.com.
Seamless integration with field service software. We link QuickBooks to your preferred HVAC service platform (ServiceTitan, FieldEdge, Jobber, etc.) to avoid double data entry and keep scheduling, work orders and mobile payments in syncbdrco.com.
Sales and use tax compliance. Colorado’s rules vary by contract: HVAC contractors under lump‑sum contracts are treated as consumers and must pay sales tax on materialstax.colorado.gov, while those under time‑and‑materials contracts must collect and remit sales tax from customers on materialstax.colorado.gov. We ensure your workflows and invoices account for this and coordinate with your CPA for filings.
Monthly performance pack and KPIs. Our reporting includes key metrics such as gross margin, average ticket, labor efficiency and equipment/material percentages. Top HVAC businesses aim for gross margins around 50–55 % to achieve 17–20 % net profitservicetitan.com; we help you track and improve these benchmarks.
How We Help HVAC Businesses Succeed
1. Job Costing & WIP That Reflect Real Work
We configure QuickBooks to track technician time, materials, equipment and subcontractors by job. This includes work‑in‑progress tracking for longer projects and clear profitability analysis across installations, repairs and maintenancebdrco.com. Knowing which jobs and service types are most profitable lets you price accurately and focus on the right work.
2. Field‑to‑Finance Integration
Connecting your field service software (ServiceTitan, FieldEdge, Housecall Pro, Jobber, etc.) with QuickBooks ensures invoices, payments, work orders and inventory flow seamlesslybdrco.com. This integration eliminates manual data entry, reduces errors and provides real‑time financial insights.
3. Tax Compliance for Colorado Contractors
In Colorado, lump‑sum HVAC contracts make you the consumer of materials, so you owe sales tax on your purchasestax.colorado.gov. Under time‑and‑materials contracts, you must charge customers sales tax on the materials portiontax.colorado.gov. We set up item codes and workflows to ensure proper tax treatment and partner with your CPA to file returns.
4. Profit Margin Monitoring & Improvement
Many HVAC contractors operate at under 10 % net profitservicetitan.com. The most successful firms shoot for 50–55 % gross margins and 17–20 % net profitsservicetitan.com. We help you monitor margins by job category (install vs. service vs. maintenance) and implement strategies to improve pricing, reduce costs and increase profitability.
What’s Included
Setup / Cleanup:
Rebuild your chart of accounts for HVAC; separate service, install and equipment sales.
Enable QuickBooks’ Projects and cost codes for labor, materials and overhead; set up work‑in‑progress accounts and reports.
Configure sales/use tax settings for Colorado contract typestax.colorado.gov.
Monthly Bookkeeping & Reconciliation:
Reconcile bank and credit‑card transactions; categorize equipment purchases, parts inventory and fleet expenses.
Process vendor bills and purchase orders for HVAC supplies, distributors and subcontractors.
Manage accounts receivable: invoicing (flat‑rate, time‑and‑materials, maintenance agreements), deposits, progress billing and collections.
Job Costing & Reporting:
Track technician hours, materials and equipment costs; allocate overhead.
Run profitability reports by job, technician and service category; analyze WIP and backlogbdrco.com.
Payroll & Compliance:
Integrate payroll, time tracking and job costing to capture direct labor costsbdrco.com.
Prepare data for sales tax filings and coordinate with your tax preparer.
Owner Dashboard & Monthly Review:
Get KPIs like gross margin, average ticket, labor efficiency and service contract profitability.
Monthly 30‑minute call to discuss results, adjust pricing and develop action plans.
Our Process
Discovery (Week 1): Discuss your service mix (install vs. repair vs. maintenance), pricing models, suppliers and software.
Setup (Weeks 1–2): Configure QuickBooks, job costing and WIP accounts, inventory tracking and tax settings; integrate field software.
Cleanup: Catch up historical transactions, tag past jobs and reconcile backlog.
Run & Review (Ongoing): Reconcile monthly, prepare financial statements and hold review sessions with recommendations.
Tools & Integrations
QuickBooks Online (Projects, Payroll, Time, Inventory).
Field service software (ServiceTitan, FieldEdge, Jobber, Housecall Pro, etc.) for scheduling, dispatch and mobile paymentsbdrco.com.
Other apps (expense tracking, receipt capture, inventory management) integrated as needed.