Bookkeeping questions, answered honestly.

Bookkeeper costs in Canada range from $300 to $2,000+ per month depending on transaction volume, services included, and province. Hourly bookkeepers charge $25–$60/hour. Flat-rate services like ours charge $500/month for unlimited transactions, HST/GST filing, and CPA-ready reports — no hourly billing.

For most small businesses, yes. At $500/month you get a dedicated bookkeeper, monthly financial statements, HST/GST filing, bank reconciliation, and year-end preparation. If you value your time at $50+/hour and bookkeeping takes 10 hours/month, the math is straightforward.

Yes. Bookkeeping and accounting fees paid to maintain your business records are fully deductible as a business expense. You claim them on your T2 corporate return (line 8810) or T1 self-employment schedule. Keep your invoices as documentation.

Our $500/month service includes: all transaction categorization and coding, bank and credit card reconciliation, HST/GST filing, payroll support, monthly P&L, Balance Sheet, and Cash Flow Statement, year-end CPA package, and CRA correspondence handling. No add-ons.

Both models exist. Hourly bookkeepers charge $25–$60/hour — costs vary month to month and spike at year-end. Flat-rate services like ours charge a fixed monthly fee regardless of volume. Flat rate is more predictable and often cheaper for growing businesses.

Book a free consultation, share read-only access to your bank feeds and accounting software, and we take it from there. Most clients are fully onboarded in 3–5 business days. We handle the setup, chart of accounts, and any catch-up needed.

We need: access to your accounting software (QuickBooks, Xero, Wave, or we set one up), your business bank account statements, credit card statements, last year's tax return if available, and your HST number. We'll send a secure intake checklist.

3–5 business days for a new client. If you have existing books that need reviewing or catch-up, it may take 1–2 weeks. We'll give you a clear timeline in your first consultation.

Yes. Mid-year transitions are common and completely manageable. We review your existing books, flag any issues, reconcile to the current month, and pick up from there. Your books stay continuous — no gaps, no restarts.

We work in QuickBooks Online, Xero, and Wave. If you already have one set up, we work in your system. If you're starting fresh, we recommend QuickBooks Online. You always own your data and software subscription.

HST (Harmonized Sales Tax) is a combined federal + provincial consumption tax in Ontario, Nova Scotia, New Brunswick, PEI, and Newfoundland. You must register and charge HST once your business revenue exceeds $30,000 in any 12-month period. Below that threshold, registration is optional.

You must register within 29 days of the date your revenues exceeded $30,000. If you're a new business expecting to exceed that threshold, you can register voluntarily from day one — which lets you claim input tax credits on business expenses immediately.

CRA charges a late filing penalty of 1% of the net tax owing, plus 0.25% for each full month late (up to 12 months), plus daily compound interest at the prescribed rate. We file your HST on time, every quarter, as part of your flat-rate service.

Yes. We maintain audit-ready documentation and handle CRA correspondence on your behalf. If you receive a review request or audit letter, we compile all required records, prepare the response, and liaise with CRA directly. Our books are built to withstand scrutiny.

Yes. Bookkeeping and accounting services are taxable supplies under Canadian tax law. If we're registered for HST (we are), we charge HST on our services. The good news: this HST is fully recoverable as an input tax credit on your own HST return.

Many bookkeepers do. We include payroll processing in our flat-rate service — calculating gross pay, CPP and EI deductions, income tax withholdings, direct deposit setup, pay stub generation, and CRA remittances. T4 preparation is included at year-end.

Payroll is included in our $500/month flat rate. External payroll processors like Wagepoint or Ceridian charge $50–$200/month depending on employee count. We eliminate that cost entirely.

Canadian payroll deductions include: CPP (Canada Pension Plan) contributions, EI (Employment Insurance) premiums, and federal/provincial income tax. As an employer, you also remit employer CPP and EI on top of the employee deductions. We calculate and remit all of these.

Yes — CRA requires proper payroll accounts, T4 slips, and regular remittances even for one employee. Missing a payroll remittance triggers penalties. We handle all of this for businesses with 1 employee or 50.

Catch-up bookkeeping is the process of bringing your books up to date after a period of neglect. If you've fallen behind — months or even years — we reconcile every account, categorize every transaction, and bring your books to current. We quote a fixed price within 24 hours.

As far back as needed. We've caught up books that were 3–4 years behind. CRA requires you to keep records for 6 years, so having accurate historical books matters. The further back you need to go, the higher the catch-up quote — but we always give you a fixed price upfront.

Your fiscal year-end depends on your business structure. Corporations must file T2 within 6 months of their fiscal year-end. Self-employed individuals have until June 15 for T1 filing (taxes owing are still due April 30). We prepare your year-end package and hand it to your CPA ready to file.

We prepare: a full-year P&L statement, Balance Sheet as at year-end, transaction detail by category, HST/GST reconciliation, payroll summary and T4s, capital asset schedule, and a year-end working paper package for your CPA. Everything they need to file quickly.

Yes. We use bank-level encryption, two-factor authentication, and read-only access to your accounts wherever possible. We never hold your login credentials — we use accountant access portals in QuickBooks and Xero. Your data is as secure as your online banking.

You give us read-only access to your bank feeds and accounting software. We log in, categorize transactions, reconcile accounts, and prepare your monthly reports — all remotely. You receive your financials by the 10th without ever having to visit an office.

A bookkeeper records and organizes daily financial transactions — income, expenses, reconciliation, HST filing. An accountant (CPA) interprets those records, prepares tax returns, and provides strategic financial advice. You typically need both: a bookkeeper monthly, a CPA at year-end.

For most incorporated businesses, yes. A bookkeeper maintains your records monthly so a CPA has clean books at year-end. This actually reduces your CPA fees — accountants charge $150–$400/hour, and cleaning up messy books costs you far more than monthly bookkeeping.