Updated Checked by the Tax-Services.ca editorial team How we check
Bookkeeping companies do three things: they record what your business earns and spends, they keep your sales tax and payroll numbers straight, and they hand your accountant clean books at year end. Which one to pick comes down to fit and honesty, because we couldn’t confirm any firm’s prices, ratings or service claims, and you shouldn’t rely on a ranking that says otherwise.
So here’s a way to choose without one. It starts with knowing what you need done and what a slip costs you.
What do bookkeeping companies actually do?
The core job is a monthly routine. They match your bank and card activity to receipts, sort every item into a category, and produce a profit and loss statement and a balance sheet. Many also prepare GST/HST returns and payroll remittances. Some stop there. Others go on to year-end filings, which is a different (and usually pricier) service.
Ask which of these are included. A firm that says “full service” hasn’t told you anything yet.
Which tasks are the risky ones?
| Task | Why the mistakes hurt |
|---|---|
| Sales tax returns | Wrong rate or missed claim changes what you owe or recover |
| Payroll remittances | Late or short payments put you in trouble with the CRA |
| Categorising expenses | Personal items in the books distort your profit |
| Record keeping | The CRA expects records for six years from the end of the last tax year they cover |
Sales tax is the easiest to test. Use the GST/HST calculator to check a sample invoice. A $1,000 sale in Ontario carries $130 of HST, so $1,130 in all. In Alberta the same sale carries $50 of GST. If a bookkeeper’s sample invoice doesn’t match, ask why.
How do you check a bookkeeping firm before you sign?
Don’t start with the website. Start with your own list of questions.
- Who does the work, and who checks it?
- Do I keep access to my own books and data every day, and can I export them?
- What happens if you make a mistake, and who pays a CRA penalty?
- How do you handle my payroll, and when do you remit?
- What’s the notice period if I leave?
Ask for a written scope with a fixed monthly price. If a firm won’t put it in writing, that tells you plenty. We didn’t verify any credentials, so ask which body issued theirs and look it up there.
What does payroll cost you if it goes wrong?
Payroll is the piece most owners underestimate. Every pay day you owe the CRA the deductions withheld from staff plus your own share, and the due date depends on your remitter type. The payroll remittance calculator gives you a rough monthly figure to compare against what a bookkeeper reports. And if you’re setting a wage, the payroll deductions calculator shows what each cheque holds back.
Which remitter schedule you’re on isn’t something we can tell from here. Confirm it in your CRA business account.
Should you hire, or do it yourself?
If you sell little and have no staff, a spreadsheet and an hour a week can do. Once you hire people, charge sales tax across provinces or lose track of receipts, outside help pays back in time alone. Still, it’s your return that carries your name, so read what’s filed for you.
Owners who work for themselves should also see the tax side. On $80,000 of net income in Ontario, the self-employed tax calculator shows $13,233.57 of income tax and $8,892.90 of CPP. Good books make that figure accurate and make it easier to plan for.
Where do the numbers come from?
Record retention comes from the Canada Revenue Agency, read in September 2026. Sales tax rates and tax amounts come from our 2026 calculators. We name no bookkeeping firm, and this website has no link with the CRA or any government body.
Frequently asked questions
What do bookkeeping companies do?
They record income and expenses, reconcile bank accounts and prepare financial statements. Many also handle GST/HST returns and payroll remittances.
How long must a business keep its books?
In most cases six years from the end of the last tax year the records relate to.
Is a bookkeeper the same as an accountant?
No. A bookkeeper records transactions, while an accountant reviews them and usually files your tax returns. Ask each what they will sign.
Can I see prices for bookkeeping companies here?
No. We couldn't confirm prices for any firm, so we don't quote them. Ask for a written scope and a fixed monthly fee.
What should the contract say?
The services included, the fee, who owns your data, how you can export it and how you can leave.
- Self-employed taxes in Canada: income, CPP and GST
How tax works when you are self-employed in Canada: reporting income and expenses, paying both halves of CPP, instalments and when to register for GST
Information only. This page is general information, not tax, legal or accounting advice. Tax-Services.ca is an independent publisher: we don't prepare or file tax returns or offer tax services, and we have no connection with the CRA, Revenu Québec, any government or any company named on this page. Check the figures that matter with an official source or a qualified professional.