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Accounting for Earth Moving & Excavation

Running an excavation and earthworks business is hard work. It is dangerous, dirty work and apart from the physical demands of the job you also need to contend with long hours, safety regulations and scheduling deadlines.

While your clients expect you to complete bobcat work, excavation, trenching, levelling, site cleans and dirt removal on time, bookkeeping and tax matters often don’t the attention they deserve. While GST, BAS and tax payments often represent some of the largest financial obligations for a excavator or earth moving business owner, many end up paying too much tax and incur fines for non-compliance.

Here at Hyde Cooper Wells we understand what is involved in running a successful excavation and earthworks business. We can help you with the usual small business compliance issues of GST, BAS, PAYG and superannuation but we can also assist you with managing your cash flow and help you obtain finance for your bobcat, trencher, post hole drill and tipper truck. We’ll make sure the finance is structured for maximum tax effect and help you select the most appropriate accounting software for your business and manage your payroll, sub-contractors and reporting requirements.


As a business start-up specialist Mal Wells and his team of accountants have helped dozens of excavation and earth moving business owners get their business off to a flying start. We offer you experience, technical tax knowledge and most importantly, an intimate understanding of your industry.

Starting a business is a bit like building a house. You need solid foundations including the right business structure, accounting software, adequate and appropriate insurances, marketing, a website and social media channels.

Y our choice of business structure is critical and there are a number of different options such as sole trader, partnership, company and trust. Asset protection is a key consideration when selecting a business structure because of the high risks associated with the earth moving and excavation industry. When deciding on the right business structure you also need to take into account your family situation, forecast level of profit and your future plans regarding admission of new business partners.

Accounting software is another brick in the wall of your business foundations. Again, the wrong choice can be catastrophic because poor business records are one of the biggest causes of business failure in this country. You need up to date, accurate financial records to make informed business decisions which is why we insist your accounting software matches your business needs and level of accounting skill. Using a sophisticated double entry accounting software program without a reasonable level of accounting skill can create a 'computerised shoebox' and you also need to consider cloud accounting options. Here at Velocity Accounting Group we aim to minimise the cost of compliance for you but shoebox records defeat the purpose. For that reason, once we evaluate your business needs and skills we then train you to use the software.

A s you know, to build a house you also need the right tools. When 'constructing' your business we also use a number of tools including our start up expense checklist to identify all your potential establishment costs. It dissects your start up costs into several categories including tools, equipment, IT expenses, professional fees and marketing costs. These figures can then be transferred into a cash flow budget template to produce a projected trading statement for your first year of operations. For a builder, your van, truck or ute is arguably your most important business tool. You can download our Motor Vehicle Tax Guide from the resources section of our website to learn more about the alternative methods of claiming your vehicle expenses and the distinction between a business and private trip for tradesmen. In addition, through our affiliate partners we can also assist with vehicle finance (chattel mortgage, CHP or lease) and get you fleet pricing on your new car, ute or light commercial van that could save you thousands of dollars.

We have also developed a number of practical tools to help you make the right opening moves including our start-up expense checklist that will help you identify all your potential establishment costs including tools, equipment, IT expenses and marketing costs. These figures then automatically feed into a cash flow budget template to produce a forecast profit and loss for your first year of trading. We can also help you put together your business, marketing and financial plans using our in-house templates.

Through our affiliate partners we can assist you with vehicle finance (chattel mortgage or lease) and even get you a fleet discount on your new car, ute or light commercial van that could potentially save you thousands of dollars. That’s just the beginning because as accountants we can do some financial modelling and prepare some ‘what if’ scenarios to identify your best and worst case profit scenarios. Next, using industry benchmarks we can compare the performance of your business against your industry peers so you understand what is working in your business and what needs working on.


Your marketing can be the difference between gloom and boom and one of our biggest points of difference compared to traditional accounting firms is our marketing expertise. We can assist you with everything from your branding (business name, logo and slogan) through to your website and social media campaigns to win more referrals.

From a marketing perspective most excavation and earthworks business owners rely on customer referrals and traditional marketing methods like yellow pages and local newspaper ads to grow their business. While some of these techniques remain effective, you need to move your marketing focus online to align with the shift in consumer behaviour. Google is now the number one source for new business.

To generate leads your website must appear at the top of page one in a Google search for 'excavation and earthworks contractor in your suburb'. The truth is, most of your competitor's websites are nothing more than electronic billboards that simply list the who, what and where of the business. Over the past few years we have worked with dozens of clients to help them create quality affordable websites that pay for themselves many times over. Your website should be the heart of your marketing and you need to look at it as an investment not a cost. We can offer you advice and assistance with your content, search engine optimisation and video production plus we'll make sure your website is responsive to mobile devices and contains calls to action.

Here at Hyde Cooper Wells we are different to most accounting firms because we view the tax return as the start of the client process, not the end. Our mission is to help you fast track your business success and we offer earth works clients a range of tailored tax, accounting, financial and marketing solutions including:

  • Start-Up Business Advice for Excavation & Earth Moving Business Owners
  • Advice regarding the Purchase or Sale of your Business
  • Tools including the Start-Up Expense Checklist
  • Templates for a Business Plan, Cash Flow Budget, Letterhead and Business Card
  • Advice and Assistance with the Establishment of Your Business Structure
  • Tax Registrations including ABN, TFN, GST, WorkCover etc.
  • Preparation of Business Plans, Cash Flow Forecasts and Profit Projections
  • Accounting Software Selection and Training – Bookkeeping, Invoicing, Quotes & Payroll
  • Preparation and Analysis of Financial Statements
  • Preparation of Finance Applications - Overdraft, Loans & Equpment Purchases
  • Bookkeeping and Payroll Services
  • Tax Planning Strategies
  • Assistance with your Marketing including your Branding, Corporate Brochure etc.
  • Advice and Assistance with your Website Development, Content and SEO
  • Wealth Creation Strategies and Financial Planning Services
  • Industry Benchmarking and KPI Management
  • Vehicle & Equipment Finance (Chattel Mortgage & Lease on Digger etc.)
  • Monitoring and Controlling Labour and Sub-Contractor Costs
  • Advice & Assistance with Pricing your Services
  • Advice & Assistance with Claiming Motor Vehicle Expenses
  • Recession Survival Strategies
  • Advice regarding Employee Relations and Workplace Laws
  • Business & Risk Insurances (Income Protection, Life Insurance etc.)
  • Business Succession Planning

In summary, we are so much more than just tax accountants. We are ‘business and profit builders’ who provide strategic advice and practical business solutions that could give you a serious competitive edge in your  industry. We work hard to understand your business and over the past decade earth works and excavation have become a niche industry within our firm.

If you're an ambitious business owner looking to boost your current results or if you're looking to get your business off to a flying start we invite you to contact us today. You can expect practical business, tax, marketing and financial advice that could have a profound effect on your future business profits. To book your FREE, one hour introductory consultation simply call us on (03) 5995 3466 or complete your details in the box at the top right hand side of this page and we will be in touch.

Hyde Cooper Wells -  Build Your Business & Grow Your Wealth