Updated Checked by the Tax-Services.ca editorial team How we check
Bookkeeping services nearby all come down to the same monthly loop: record, match, close and report. What changes from business to business is how often the CRA wants your sales tax and payroll, and that’s set by your size. A business with $1,500,000 or less of taxable sales files GST/HST once a year unless it chooses otherwise.
What happens in a month of bookkeeping?
It starts with the bank. Every deposit and payment gets a category, and every receipt gets attached. Then the bookkeeper matches the bank balance to the books. If they agree, the month is closed. If they don’t, someone finds the gap before it grows.
After that come the extras. Sales tax is added up, payroll is checked against what was paid, and a short report goes to you. Ask for that report every month, even when nothing looks wrong. A one-page summary is the only way you’ll spot a problem while it’s still small.
What if your books are already months behind?
Don’t wait for a perfect moment, because it won’t come. Gather the bank and card statements for the missing months, then ask the bookkeeper to catch up one month at a time, oldest first. Each month depends on the one before it, so skipping around makes more mess.
Take Hamid, who runs a small renovation outfit in Surrey and let the receipts pile up from January to June. A catch-up in order, with a single report at the end of each month, got him current well before his next GST/HST period closed. The sooner you start, the less it costs in time and stress.
How often will the CRA want your numbers?
Your filing rhythm sets the workload. This is the GST/HST schedule the CRA assigns, based on taxable sales in the previous fiscal year.
| Taxable sales | Reporting period |
|---|---|
| $1,500,000 or less | Annual |
| Over $1,500,000 up to $6,000,000 | Quarterly |
| Over $6,000,000 | Monthly |
Annual filers usually file and pay within three months of the fiscal year end. Smaller businesses can pick a more frequent period, which some do to avoid one large bill.
How much sales tax will you hold?
Suppose an Ontario business makes $25,000 of sales in a period. The GST/HST calculator shows $3,250 of HST at 13%, for a total of $28,250. That $3,250 isn’t income. It belongs to the CRA, less any tax you paid on business purchases.
If you sell in British Columbia, check the result by hand. The GST/PST tool taxes every item at 12%, so it overstates the tax on items that carry only GST.
Where does payroll fit?
If you have staff, remittances are the next monthly job. One employee paid $2,000 a month in Ontario means $391.82 goes to the CRA each month, according to the payroll remittance calculator. Of that, $244.53 was held back from the employee’s pay and $147.29 is your own share.
Small employers may remit quarterly instead of monthly, and larger ones twice a month or more. The CRA assigns the type from your past withholding, so a growing team can change the dates on you.
How do you keep it all from drifting?
Put the monthly close on a calendar, with the same date every month. Pay yourself from a separate account so you can tell what’s the business’s money and what’s yours. Keep sales tax in a savings pocket of its own, so the $3,250 in the example above isn’t spent on stock before it’s due. It’s boring, and it works.
Will you owe instalments as well?
If you’re self-employed, quite possibly. Your own tax doesn’t come off a cheque, so the CRA may ask for payments during the year. The tax instalments calculator gives an estimate, and the self-employed tax calculator shows the whole bill first. On $80,000 of net income in Ontario that’s $22,126.47 of tax and CPP, before EI and GST/HST.
What should you hand over on day one?
Bank and card statements for the whole year so far, your sales tax and payroll account numbers, last year’s return and any loan papers. If receipts are on paper, decide who scans them. The CRA says to keep your tax records for at least six years, and a bookkeeper who loses a file hasn’t lifted that duty from you.
We haven’t confirmed prices, and nobody on this page is a recommended firm. Compare two written quotes and read the scope line by line.
Our sources
GST/HST reporting periods, payroll remittance types and the six year rule come from Canada Revenue Agency publications, read in September 2026. Amounts come from this site’s calculators with 2026 rates. This site isn’t connected to the CRA, and thresholds can change, so check the current page.
Frequently asked questions
What should bookkeeping include each month?
Categorized transactions, receipts attached, a bank match, and a short report to you. GST/HST and payroll work should be agreed in writing.
How often do I file GST/HST?
Annually if taxable sales were $1,500,000 or less, quarterly up to $6,000,000 and monthly above that. You can choose a more frequent period.
What do I give a new bookkeeper?
Bank and card statements, your CRA account numbers, last year's return and any loan papers.
Do I have to keep records myself?
The CRA says you're responsible for adequate records even if a bookkeeper keeps them, and you must keep them six years.
Can I trust the BC GST/PST result?
Check it by hand. The tool taxes everything at 12%, which overstates tax on items that carry GST only.
- 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