An HVAC business has three different revenue models running at once. Emergency service calls, often paid in cash or card at the door. Full system installs with a deposit up front and a balance on completion. Maintenance contracts billed monthly or quarterly. Warranty work that pays net-30 from the manufacturer.
That is four different timelines for money to hit the bank — and none of them line up with when the work was actually done.
Why the P&L Looks Wrong
In a normal month, an HVAC company might complete $85,000 of work but see $52,000 in bank deposits. The rest is deposits collected but work not yet done, work completed but not yet paid, and a couple of service calls settled in cash that never got logged.
If you make decisions off the bank deposits, you will always be running blind. Real bookkeeping shows work completed, revenue earned, and cash collected as three separate pictures.
How LedgerFast Handles the Mix
Cash service calls get logged from the truck in thirty seconds. Install deposits and progress payments get invoiced automatically through Collect — with follow-up emails until the final balance is paid. Maintenance contracts are tracked as recurring revenue. Bank statements upload once a month and everything reconciles into one clean P&L.
Subcontractors and 1099s
Bigger installs mean subcontracted electrical, sheet metal, or duct work. Every payment to a sub is flagged all year long for 1099 review. In January you have the list already built — no scramble, no missed filings.
Year-End for Your CPA
The Tax Organizer packages the year for your tax preparer — Schedule C categories, combined revenue from cash and card, subcontractor 1099 list, vehicle expense tracking. One file, one hand-off.
Plans from $49/month. First month free. Built for HVAC owner-operators and small shops, not accountants.
See a sample monthly report on the demo page.