Job Costing 101: How Contractors in New Brunswick and Nova Scotia Can Improve Profitability

Intro: For contractors in New Brunswick and Nova Scotia, knowing your numbers can be the difference between a profitable project and a costly one. Job costing is the process of tracking every dollar spent on a job — and it’s essential for running a sustainable contracting business.

Why Job Costing Matters Without accurate job costing, it’s easy to underquote projects, lose track of expenses, and miss opportunities to improve. Tracking costs helps you see exactly where your money is going so you can make better bids and protect your margins.

Key Components of Job Costing:

1. Labour Costs – Include wages, benefits, and any subcontractor fees.

2. Material Costs – Track every purchase, from major supplies to small consumables.

3. Overhead Allocation – Don’t forget indirect costs like equipment depreciation, insurance, and utilities.

4. Time Tracking – Knowing how long each phase takes helps improve future estimates.

The Benefit: Job costing allows you to identify profitable work, cut waste, and create more competitive bids without sacrificing earnings.

Closing: Navion Accounting helps contractors across NB and NS (Sackville, Moncton, Amherst, Shediac, etc.) set up effective job costing systems that save time, reduce errors, and maximize profits. Contact us today to see how accurate costing can transform your business.