Updated Checked by the Tax-Services.ca editorial team How we check
We can’t give you an honest average bookkeeping cost for Canada, because no official body publishes one and the prices we found on provider sites can’t be checked. What we can do is show you what drives a bookkeeper’s quote, which jobs the CRA makes you do anyway, and which questions to put to anyone who quotes you.
What decides the price of bookkeeping?
Volume, mostly. A sole proprietor with thirty transactions a month and a corporation with a few hundred don’t need the same hours. Fees track the work, so count what you’d hand over.
Then look at what sits on top of the basic entries. Payroll, GST/HST returns, catching up on old months and year-end files for your accountant each add time. A bookkeeper who quotes a flat figure should tell you in writing which of these are in it.
The state of your paperwork counts too. Shoeboxes of receipts cost more to sort than a clean bank feed. You can cut a quote just by tidying up before you hand anything over.
Which filing rules shape the work?
Some of the workload is set by law, not by your bookkeeper. Your GST/HST reporting period depends on your revenue, and a busier period means more frequent returns. Payroll remittance frequency depends on your average monthly withholding. The table shows the CRA’s own thresholds.
| Item | CRA rule |
|---|---|
| GST/HST, annual reporting | Taxable revenue of $1,500,000 or less |
| GST/HST, quarterly reporting | More than $1,500,000, up to $6,000,000 |
| GST/HST, monthly reporting | More than $6,000,000 |
| Payroll, quarterly remitter | Average monthly withholding under $3,000, with a clean record |
| Payroll, regular remitter | Under $25,000, remits by the 15th of the next month |
| Corporate T2 return | Six months after the tax year ends |
| Keeping records | Six years after the end of the year they relate to |
A small business filing GST/HST once a year needs far less bookkeeping than one filing every quarter. Check which one you are before you compare quotes. A price for monthly work isn’t a fair match for your once-a-year needs.
What does a good bookkeeping package cover?
Ask for a list of deliverables, not a headline fee. You’ll want monthly bank reconciliations, a profit and loss statement, sales tax figures ready to file, and a year-end package your accountant can use without chasing you for missing pieces.
Get it in writing.
Who does the GST/HST return? Who pays if it’s late? Ask how your records are stored and whether you can take a copy with you when you leave. Ask how quickly you’ll hear back when something looks wrong.
Software helps a good deal. It’s only cheaper if you’ll actually keep it up, and only you know that. A cheap tool you neglect costs more than a person you pay.
What does tax on $1,000 of sales look like?
Here’s the kind of figure a bookkeeper tracks all year. In Ontario, a $1,000 sale carries $130 of HST, so the customer pays $1,130. Your books need to show the $130 as tax collected, not revenue. The GST/HST calculator runs any province, and the reverse HST calculator splits a tax-included price.
Once the books are right, the tax follows. The self-employed tax calculator turns net business income into an estimate, and the corporate tax calculator does the same for a company. Margins are worth a look as well, and the profit margin calculator shows where yours sit.
Where does DIY bookkeeping go wrong?
Mixing personal and business spending is the big one. It turns a twenty-minute monthly job into an afternoon of guessing. Open a separate account on day one.
Next comes missing receipts. The CRA can ask for support for what you claimed, and six years is a long time to keep a phone photo findable when it’s buried among ten thousand others, so name every file by date and supplier the day you take it. The third trap is treating collected sales tax as income, and then the return is due and the cash is gone.
If you hire someone, get the scope in writing, ask for references you can call, and read the cancellation terms. We didn’t verify any provider’s fees or reputation, and this page doesn’t rank any.
How do you keep the cost down?
Send documents on a schedule, not in a heap. Use one business bank account and one card, so every payment already has a home. Name files the same way each time, and say in advance what you expect back and by when. A bookkeeper who spends less time chasing you is a bookkeeper who can quote less, and a few bucks saved each month adds up by tax time.
Should you do it yourself or hand it off?
It depends on your hours and your patience. Take Hannah, who runs a small physiotherapy clinic in Fredericton. She enjoys her patients and dreads her spreadsheets, so every Sunday night turns into receipts and cold coffee. For her, even a few hours a month from a professional would be a bargain in peace of mind. A friend with a quiet side gig and a tidy bank feed can do the same job in twenty minutes. Try one month on your own, time it, and let the clock decide.
Where we got these figures
The GST/HST reporting thresholds, payroll remitter types, corporate return timing and six-year record rule come from CRA pages. The Ontario HST rate is from the CRA’s table of GST/HST rates. Nothing here is a fee survey, because we couldn’t confirm any professional fee level from an official source. This site is independent and not affiliated with the CRA.
Frequently asked questions
Is there an official average price for bookkeeping in Canada?
No. We couldn't find an official source for fee levels, so we don't quote any. Compare written quotes for the same scope of work.
How long do I have to keep business records?
Generally six years after the end of the last tax year they relate to, according to the CRA.
How often do I file GST/HST?
It depends on revenue. The CRA sets annual reporting at $1,500,000 or less, quarterly above that up to $6,000,000, and monthly above $6,000,000.
Does a corporation need a bookkeeper to file its T2?
The law doesn't say so. The T2 is due six months after the tax year ends, and clean books make it faster to prepare.
What should a bookkeeping quote list?
Reconciliations, reports, sales tax and payroll work, year-end files, how records are stored and what happens if you 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