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Bookkeeping is the steady, boring record of what came in and what went out, and the CRA expects you to keep it for six years. You can hire a bookkeeper nearby, use someone remote or do it yourself. This page is about how to choose and what to check, since prices and skills vary too much to quote for any local provider.
What does a bookkeeper actually do?
A bookkeeper records transactions, matches them to your bank statements, tracks what customers owe you and what you owe suppliers, and prepares the figures your accountant uses for your return. Some also run payroll and prepare GST/HST returns. That’s the full list. Tax planning and signing financial statements belong to an accountant, and a bookkeeper who says otherwise deserves a follow-up question.
Do you need one? If you have a handful of invoices a month and no staff, probably not. Once you’re chasing receipts every April, or you employ anyone, the hours start to add up. Take Kofi, who runs a small cleaning business in Edmonton with two part-time helpers. He used to do the books on Sunday nights and kept losing track of what he owed the CRA. A monthly check-in with a bookkeeper fixed the habit before it became a bill.
Which deadlines will the bookkeeper have to meet?
Ask any candidate to walk you through these, and hold them to the answer. The dates come from the CRA.
| Task | Rule |
|---|---|
| Payroll remittance, regular remitter | 15th of the month after the deduction month |
| Payroll remittance, small employer (under $3,000 a month, clean CRA record) | Quarterly: 15 April, 15 July, 15 October, 15 January |
| Payroll remittance, accelerated (average $25,000 to $99,999.99 a month) | 25th of the same month and 10th of the next |
| GST/HST, revenue up to $1.5 million | Annual period by default, three months after the fiscal year end |
| GST/HST, above $6 million | Monthly, no other choice |
| Records | Six years from the end of the last tax year |
A late payroll payment isn’t cheap. The CRA lists penalties of 3% for a payment one to three days late, rising to 10% at seven days or more, plus interest from the original due date.
What should I hand over each month?
Give the bookkeeper the same things every time and life gets easier: bank and credit card statements, sales invoices, supplier bills, and pay details for staff. If you take cash, keep a running list. If you use your own car, keep a mileage log from day one.
Keep the originals yourself too, or scanned copies you can open without any special software. The CRA’s guide to keeping records says to keep records for six years from the end of the last tax year they relate to, and to keep the records your computerized systems create, not only the paper.
What does a month of payroll look like on paper?
Suppose you have two employees in Ontario, each paid $2,000 gross every two weeks. On our payroll remittance calculator, the bill to the CRA for one pay period is $1,110.09. Of that, $796.83 is held back from the two employees: $509.65 of income tax plus $287.18 of their CPP and EI. Your own share of CPP and EI is $313.26. So the whole payroll costs you $4,313.26 for the period, the $4,000 of gross pay plus your share.
Your bookkeeper should produce these same figures. If theirs differ, check the pay rates and tax tables, then compare with the payroll deductions calculator. Employee net pay for one person shows up on the take-home pay calculator.
Can I just keep the books myself?
Often, yes. A spreadsheet or basic accounting app works if you sit down weekly, not yearly. Open a separate bank account for the business so personal spending never mixes in, and photograph receipts the day you get them. The point where it stops being worth it is usually payroll, because late remittances cost real money and the rules have several moving parts. Many owners do the daily entries themselves and hire help only for payroll and year-end.
How do I pick bookkeeping help close to me?
Being nearby matters less than it used to, since most of the work is online. Local help pays off if you keep paper receipts. It also does if you’d like someone across the table once a quarter. Otherwise pick for fit.
A short trial is the best test: one month of your real books, then a look at what came back. Find out what software they use and who owns the data. Put a missing receipt to them and see how they’d handle it. And get the fee in writing, including what happens if you send messy paperwork. Don’t take a rule of thumb about price from a stranger.
If your bookkeeper will also file GST/HST or payroll returns, have them set up authorization through the CRA. Never share your sign-in details. The GST/HST calculator lets you spot check any invoice: in Ontario, $100 before tax becomes $113.00.
What mistakes cost people the most?
Letting things pile up. Twelve months of uncategorized transactions cost more to clean than twelve monthly check-ins. The next one is paying yourself with no record of it, which turns a tidy set of books into guesswork. And the third is treating the bank balance as profit when tax, GST/HST you collected and payroll remittances are still owed. That money is the taxman’s, not yours, even while it sits in your account.
The profit figure matters for tax, too. The self-employed tax calculator shows how income and CPP add up once your books are in order.
Where the numbers come from
Deadlines, remitter thresholds, penalties and GST/HST reporting periods come from Canada Revenue Agency pages read in September 2026, and the six-year rule from its keeping records guide. The payroll example uses our calculator with 2026 Ontario and federal payroll data. Prices, reviews and local availability were not verified. This site is independent of the CRA.
Frequently asked questions
What does a bookkeeper do?
They record transactions, match them to your bank statements, track what you owe and are owed, and prepare figures for your accountant. Some also run payroll and prepare GST/HST returns.
How long must I keep my books?
Generally six years from the end of the last tax year they relate to, in a readable format if they are electronic.
Is a bookkeeper the same as an accountant?
No. Tax planning and signing financial statements belong to an accountant, and some bookkeepers work under one.
Can my bookkeeper file payroll remittances for me?
Yes, if you authorize them through the CRA. Do not share your sign-in details.
How much does bookkeeping cost?
We could not confirm typical fees. Ask for a written quote and a one-month trial.
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