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Catch-Up BookkeepingFrom $1,800Books & payroll
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Corporate Tax (T2)From $800 · nil T2 from $249GST/HST Filing$150 per returnPersonal Tax (T1)From $110 · students from $49Sole Proprietor Tax (T1 + T2125)From $300Start & grow
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PricingService areasAll services →Bookkeeping Services for Small Businesses in Canada
Bookkeeping Services for Small Businesses in Canada
CPA-led monthly bookkeeping in QuickBooks Online, for a flat fee agreed before we start. We reconcile your bank and credit card accounts, keep your GST/HST on track, close your books every month or quarter, and hand you reports you can actually read. Plans start from $350 a month (Growth, quarterly bookkeeping) or $500 (Scale, monthly bookkeeping), plus HST/GST, with a basic QuickBooks Online subscription, Dext, GST/HST filing and your corporation’s T2 return included, for small businesses everywhere in Canada except Quebec.
- CPA-led by Wajahat Ajmal, CPA, FCCA (verify on CPA Ontario)
- Price matching, when agreed before you sign our proposal
- No surprise bills: the price is fixed before we start
- Books done by the 10th: monthly books closed by the 10th of the following month
- We reply mostly within one business day
- 24/7 receptionist, a real person answers
Most owners don’t hate bookkeeping because it’s hard. They hate it because it never stops. Receipts pile up, the bank feed fills with uncoded transactions, GST/HST is due before you’ve looked at the quarter, and by year-end half the year needs rebuilding from statements. Meanwhile you’re making hiring, pricing and tax decisions without knowing what you earned last month.
I’m Wajahat Ajmal, CPA, FCCA, based in Etobicoke and the founder of T-Ledgers. I started my career in audit at KPMG and later worked as an independent contractor for a tax filing company. That’s the standard we hold your books to: every account reconciled, every unusual entry questioned, and a CPA review before anything reaches you. Our team does the day-to-day work, a CPA reviews it, and you get clean books, on schedule, for a price you know in advance.
What's included in our bookkeeping services
What's included
Everything you need for clean, CPA-reviewed books.
QuickBooks Online
Basic QBO subscription included, set up and maintained by us.
Dext
Receipt and bill capture app included. No more shoeboxes.
GST/HST filing
Returns prepared and filed with CRA on time.
Monthly report pack
Delivered by the 15th, every month.
Profit & LossBalance sheetA/R agingA/P agingCash summary
Every plan covers the same core bookkeeping. What changes is how often we close your books, how much support you get, and whether we also manage your bills and invoices.
Law: Income Tax Act s.230(1) (records and books); Excise Tax Act s.286(1) (GST/HST books and records).
Transaction recording and categorization
We connect your business bank accounts, credit cards and payment processors to your accounting software and code every transaction to the right account. Anything we can’t identify goes on a short question list for you instead of into a suspense account.
Bank and credit card reconciliations
Reconciling is the step that turns a list of transactions into books you can trust. Each period we match your accounting records to your bank and credit card statements, line by line, so the balances agree to the cent. That’s how duplicates, missing deposits and personal charges get caught early. If you’d like to see what that looks like, our guide What is a bank reconciliation? walks through it.
Receipts and bills with Dext
Every plan includes Dext. You snap a photo of a receipt or forward a bill by email, Dext reads the supplier, date, amount and GST/HST, and we match it to the bank transaction. That gives you the supporting document the CRA expects for every expense claim without a shoebox or a folder of crumpled paper.
GST/HST tracking and filing
We track the GST/HST (and PST where it applies) you charge and the input tax credits you can claim as the transactions come in, then prepare and file your sales tax returns on your schedule, whether that’s monthly, quarterly or annual. Because the return comes straight from reconciled books, the numbers you file match the numbers in your accounts, which is exactly what the CRA looks at in a review. Our post on the GST/HST audit triggers we see most often explains why that matters.
Accounts payable and receivable
Every plan records your sales and bills so you can see who owes you and whom you owe. On Ultimate (an add-on for Growth and Scale) we also manage the process: entering bills, scheduling supplier payments for your approval, issuing invoices and following up on overdue customers.
Month-end adjustments
Clean books need more than coded transactions. Where your business needs them, we post the entries that make the numbers right: loan principal versus interest, prepaid expenses, accruals, capital assets and amortization, payroll journal entries, and the shareholder loan account for money that moves between you and your corporation.
Financial reports you can read
At each close you get our standard report pack: a profit and loss statement, a balance sheet, accounts receivable and accounts payable aging, and a cash summary, compared with the prior period, plus a short note on what changed and anything that needs your attention. Growth plan clients get the pack quarterly; Scale and Ultimate clients get it monthly, with books closed by the 15th of the following month.
Year-end ready books, and the T2 included
Because your books are reconciled all year, year-end is mostly done when the year ends. All three monthly plans include your corporation’s annual T2 corporate tax return and your T4 and T5 slips, and the Ultimate plan adds the director’s personal tax return. You don’t have to coordinate a bookkeeper and an accountant, or pay someone to fix the books before they can file.
What your monthly report looks like
A clear snapshot of your business, not just a pile of numbers.
SAMPLE REPORT – EXAMPLE FIGURES
Revenue (Sep)$48,200▲ 6% vs Aug
Net profit$9,75020% margin
Cash on hand$62,400▲ $4,100
Profit & Loss Example · last 6 months
AprMayJunJulAugSep
Revenue Expenses
Cash summary Example · Sep
Opening cash$58,300
Cash in+$46,900
Cash out−$42,800
A/R outstanding$11,200
Closing cash$62,400
Our monthly bookkeeping process
Here is what a normal month looks like on our Scale or Ultimate plan (Growth follows the same steps quarterly).
- Transactions flow in. Bank feeds, card feeds and payment processors sync to your software daily. You upload receipts and bills to Dext as they come in.
- We code and match. Our team categorizes transactions, matches receipts and bills, and applies your bank rules.
- We send one question list. Instead of a stream of emails, you get one short list of items we couldn’t identify. Most owners answer it in a few minutes through our secure client portal.
- We reconcile and adjust. Every bank, credit card and loan account is reconciled to the statement, and month-end entries are posted.
- A CPA reviews the file. Before the month is closed, a CPA reviews the reconciliations, the reports and anything unusual, the same way we’d review a file in audit.
- You get your reports by the 15th. Your books are closed by the 15th of the following month, and your report pack (P&L, balance sheet, A/R and A/P aging, and cash summary) arrives with a short summary.
- Sales tax is filed on time. When a GST/HST period ends, we prepare the return from the reconciled numbers, send it for your approval and file it.
How your monthly bookkeeping works
Four simple steps, every month.
1
Send your receipts
Snap or forward them to Dext.
2
We reconcile & categorize
Every account matched in QuickBooks Online.
3
CPA review
A CPA checks every close.
4
Reports by the 15th
Your report pack, ready for decisions.
What we need from you each month
Keep business and personal spending separate, upload receipts to Dext, answer the question list, and tell us about anything unusual: a new loan, an equipment purchase, or money moved between you and the company. If you don’t have a business bank account yet, our checklist for opening one is the first step.
Bookkeeping software: QuickBooks Online, Dext and Xero
Everything we do is in the cloud, which is how we keep books for businesses across Canada from our Etobicoke office. A basic QuickBooks Online subscription and Dext are included in your plan fee, so there is no separate software bill for the core tools, and you can log in and see your numbers whenever you want.
QuickBooks Online
QuickBooks Online is the platform bundled with every plan: a basic QuickBooks Online subscription is included in your monthly fee. It handles GST/HST well and ties directly to QuickBooks Online Payroll if you also use our payroll services.
Xero
If you prefer Xero, we support it. Xero suits businesses with many app integrations or multiple currencies, and where you have staff, we connect a Canadian payroll app. The subscription bundled in our plan fee is basic QuickBooks Online.
Dext
Dext is our receipt and bill capture tool, and its subscription is included in every plan fee.
Already using something else, or nothing at all?
If you’re on QuickBooks Desktop, Sage, Wave or spreadsheets, conversion to a cloud system is part of onboarding on every plan. If you have no system yet, we’ll recommend one and set it up properly from day one. Not sure which platform fits? My comparison of NetSuite, QuickBooks and Xero for Canadian businesses covers the trade-offs.
SR&ED Bookkeeping for Canadian Businesses
If your business is building a new product, testing a process or solving a technical problem, you may be claiming SR&ED. The claim itself gets the attention, but it only holds up if your books back it up. When CRA reviews a claim, they want to see costs that tie to specific projects, to the people who worked on them, and to records kept at the time the work was done.
Our team sets up and keeps your books so they’re ready for SR&ED from day one. We code costs by project, track time properly, clean up past years when needed, and prepare the whole SR&ED claim end to end, including the T661 technical narrative, so the numbers in your claim and the numbers in your books tell the same story. If you already have an SR&ED consultant, we can work alongside them. For federal and provincial credit rates, deadlines and how our end-to-end claims work, see our SR&ED tax credits page.
What's different about SR&ED bookkeeping
Regular books show what you spent. SR&ED books show what you spent on each eligible project, who worked on it, how long they spent, and why. In practice, that means:
- Costs are coded by project, not just by category. “Wages” or “Materials” on its own isn’t enough. Each cost needs to point to the project it belongs to.
- Labour is backed by time records. Salaries only count toward a claim for the time people actually spent on SR&ED work, so you need timesheets that show it.
- Contractors and materials are kept separate. They’re treated differently in a claim, so they can’t be lumped in with general expenses.
- Arm’s-length and non-arm’s-length costs are split out. Payments to related companies or people are handled differently from payments to unrelated suppliers, so your books need to show which is which.
- Government assistance is tracked. Grants like IRAP reduce what you can claim. If they aren’t recorded clearly against the right project, the claim can be overstated.
- Records are kept as you go. Invoices, timesheets and project notes should be tied to the costs at the time they happen, not pieced together a year later.
How we handle it
- Timesheet and time tracking setup. We set up a simple time tracking system for your team so SR&ED hours are recorded by person and by project. We keep it practical, so your staff will actually use it.
- Monthly project coding. Every month, we code your expenses to the right projects and keep contractors, materials, related-party costs and government assistance separate.
- Past-year cleanup. If earlier years weren’t set up for SR&ED, we go back and reorganize the records so they’re ready for a claim. You generally have 18 months after your year-end to file, so there’s often still time to fix things.
- The full SR&ED claim, end to end. We review eligibility, write the T661 technical narrative with your team, and prepare Schedule 31 and the expenditure figures from SR&ED-ready books that reconcile to the claim. If you already have an SR&ED consultant, we can work alongside them instead. Pricing depends on the claim and is quoted after a free consultation.
- Your T2, done by the same team. We prepare and file your corporate tax return and keep your books lined up with the claim, so nothing falls through the cracks between your bookkeeper and your tax preparer.
Why businesses choose T-Ledgers for SR&ED bookkeeping
- Every file is reviewed by a CPA. Nothing goes out without a CPA checking it.
- One team for your books and your T2. We prepare the whole SR&ED claim, narrative included, so the claim, the books and the T2 all use the same numbers.
- No surprise bills. You’ll know what you’re paying before we start.
- Price match. Have a comparable quote? Share it with us before you sign our proposal. If we agree to match it, that price goes into the proposal.
- Quick replies. We reply to most messages within one business day.
- Tools included. Basic QuickBooks Online and Dext are included, so you’re not paying extra for the software.
- Someone always picks up. Our 24/7 receptionist answers your call, day or night, and it’s a real person, not a bot.
Not sure your books would hold up to an SR&ED review? Let’s talk it through.
5.0★Google rating
1 dayReplies mostly within 1 business day
15thBooks closed by the 15th
24/7Receptionist, a real person answers
How much do bookkeeping services cost?
We publish our prices because “contact us for a quote” isn’t an answer when you’re comparing bookkeepers. Your exact fee depends on transaction volume and complexity, and you get a fixed quote on your free call before any work starts. All prices are in CAD and exclude HST/GST. As a rule of thumb, bookkeeping usually costs 1% to 3% of a business’s annual revenue.
← Swipe to compare →
| Plan | Price | Bookkeeping and reports | Tax filings included | Support | Typical annual revenue |
|---|---|---|---|---|---|
| Growth | From $350/month | Quarterly bookkeeping and quarterly reports | GST/HST returns, T2 corporate return, T4/T5 slips | Email and text; 30 to 60 min accountant call each quarter | $100k to $350k |
| Scale (most popular) | From $500/month | Monthly bookkeeping and monthly reports | GST/HST returns, T2 corporate return, T4/T5 slips | Email and text; 30 to 60 min accountant call each quarter | $350k to $750k |
| Ultimate | From $700/month | Monthly bookkeeping and reports, plus AP/AR management | GST/HST returns, T2, T4/T5 slips and the director’s personal tax return | Email, text and phone; 30 to 60 min accountant call every month | $750k to $1M |
Every plan includes onboarding and systems set-up, conversion from your current system, a basic QuickBooks Online subscription and Dext. Monthly prices are minimums for a one-year commitment, billed monthly, and assume your books and filings are current when you start. Businesses with revenue above $1 million get a custom rate. Compare every line item on our pricing and packages page.
What moves the price
The number of bank and credit card accounts, monthly transaction volume, inventory, multiple currencies or locations, payroll, and whether you want us to manage bills and invoices. If your books are behind, we quote the catch-up separately so your monthly fee starts from a clean baseline.
Our price match promise
If you have a written quote from another accounting firm for the same scope, show it to us before you sign our proposal and we’ll match it. Price matching has to be agreed before the proposal is signed; we can’t revisit the price afterwards. Same CPA review, whatever you pay.
No surprise bills
We don’t bill bookkeeping by the hour. Your monthly fee covers the scope in your proposal, and it only changes if the scope does. If something comes up that’s outside it, such as a new entity, a year of missing records or a CRA review, we stop and tell you the cost before going further.
Bookkeeping review
Already have a bookkeeper, or keep your own books in QuickBooks Online or Xero? You don’t have to hand everything over to get CPA-reviewed books. With a Bookkeeping Review, we check your books every month or every quarter, fix what needs fixing, and tell you in writing what we found. Every review is done by a CPA.
Who it's for
- Businesses with an in-house or part-time bookkeeper who want a CPA checking the work
- Owners who do their own bookkeeping in QuickBooks Online or Xero
- Dext and Hubdoc users who want receipts coded and matched correctly
- Corporations that want clean, CRA-ready books before GST/HST filings and year-end
What's included
- Monthly or quarterly review. You choose how often a CPA reviews your books.
- Reconciliation check. Bank, credit card and loan accounts reconciled and tied to statements.
- Categorization fixes. Miscoded, uncategorized and duplicate transactions corrected, with adjusting entries where needed.
- GST/HST readiness. Tax coding on sales and expenses checked, ITCs reviewed, return figures ready to file.
- Written findings memo. What we found, what we corrected, and what to do differently.
- CPA call. We walk through the memo and answer your questions.
Bookkeeping review pricing
Monthly Review BEST VALUE
$195/month
+ HST/GST
A CPA reviews your books every month, so errors are caught before they compound. Monthly findings memo and CPA call.
Quarterly Review
$295/quarter
+ HST/GST
A CPA reviews your books every quarter, before your GST/HST return, then sends a findings memo and books a CPA call.
Complex books
from $450/review
+ HST/GST
For books that meet any of the conditions below. Fixed price set in your proposal before we start.
What counts as complex books
Your books are priced as complex if any of these applies:
- More than 150 transactions a month
- More than 3 bank or credit card accounts, or any foreign-currency account
- In-house payroll, inventory or job costing
- More than one company, intercompany transactions, or a holding company
Behind or major errors? Books more than 3 months behind, or with major errors found in the review, become catch-up work, quoted separately from $1,800. All prices exclude HST. Price matching applies only when agreed before you sign your proposal. Questions are answered in the FAQs below.
How outsourced bookkeeping compares
DIY vs an in-house bookkeeper vs T-Ledgers
← Swipe to compare →
| Doing it yourself | Part-time or in-house bookkeeper | T-Ledgers BEST VALUE | |
|---|---|---|---|
| Cost | ✗Software plus your evenings and weekends | ✗Wages or hourly fees, plus your time supervising | ✓Flat monthly fee from $350 (quarterly bookkeeping) or $500 (monthly), agreed up front, with basic QuickBooks Online and Dext included |
| Who checks the work | ✗Nobody until year-end | ✗Usually nobody | ✓A CPA reviews every close |
| GST/HST and T2 | ✗Separate accountant, separate bill | ✗Separate accountant, separate bill | ✓Included in every monthly plan |
| Cover for holidays and sick days | ✗None | ✗None | ✓A team, not one person |
| Year-end | ✗Clean-up before your accountant can file | ✗Often still needs adjusting | ✓Books already reconciled and year-end ready |
Bookkeeping add-ons
Add any of these to a plan. Each is quoted on your free call and added to your proposal before you sign, so there are no extras on the invoice later.
- Payroll. Pay runs, direct deposit, CRA source-deduction remittances, T4s and ROEs. See payroll services.
- Accounts payable and receivable management (included on Ultimate). Bill entry and payment scheduling, invoicing and collections follow-up.
- Catch-up bookkeeping and back filings. For months or years that are behind. See catch-up bookkeeping.
- Director’s personal tax return (included on Ultimate). Your T1, prepared alongside the corporation so salary, dividends and the shareholder loan line up. See personal tax.
- Virtual CFO. Cash-flow forecasting, budgets, KPIs and strategy sessions when you need more than historical reports. See virtual CFO services.
- Incorporation. Ready to incorporate? See incorporation services.
Behind on your books? Start with catch-up bookkeeping
Many of our clients come to us months or years behind, after a bookkeeper disappeared or a CRA letter forced the issue. It’s fixable, and it’s one of the things we do most.
We rebuild the missing periods from your bank and credit card statements, file any overdue GST/HST and T2 returns (personal T1 returns are quoted separately), deal with the CRA for you, and then move you onto a monthly plan so it doesn’t happen again. Catch-up work is priced per year, from $1,800 plus HST/GST with the GST/HST returns and T2 included, confirmed after a free review. Read how it works on our catch-up bookkeeping page, or see how we caught up years of unfiled taxes for one client. If penalties are already building, our guides on back tax filing and avoiding CRA interest and penalties explain your options, including the Voluntary Disclosures Program.
How onboarding works
- A free 30-minute call. We talk about your business, your software, and anything that’s behind. You’ll get a straight answer, even if you go elsewhere.
- A fixed quote, mostly within one business day. You get a written proposal with your plan, add-ons and monthly fee. If you have a comparable written quote from another firm, raise it now: price matching applies only when it’s agreed before you sign.
- Secure set-up. You sign the engagement, we set up your QuickBooks Online and Dext (or connect to your existing file), you connect your bank feeds, and authorize us in your CRA My Business Account so we can see your GST/HST and payroll accounts.
- Opening balances and clean-up. We confirm opening balances against last year’s statements or return, tidy the chart of accounts and set bank rules.
- Your first close. We complete your first period and walk you through the reports on a call.
- Business as usual. From then on the monthly process runs on schedule. You can reach us by email or text any time, by phone on the Ultimate plan, and a 24/7 receptionist answers our line, so a real person picks up.
Who our bookkeeping services are for
We keep books for sole proprietors, partnerships and small corporations in every province and territory except Quebec. Most of our clients have between $100,000 and $1 million in annual revenue and no full-time accountant on staff. A few industries we know well:
- Contractors and trades. Job costing, holdbacks, subcontractor payments and T5018 reporting, vehicles and equipment. See our posts on T5018 slips for contractors and HVAC bookkeeping, and how we helped a carpentry business on a tight deadline.
- Trucking and transportation. Fuel, per-diem meals, owner-operator expenses and fleet costs. Our bookkeeping guide for Canadian truckers covers the details.
- Consultants, IT contractors and professional services. One-person corporations where the shareholder loan, salary-versus-dividend choices and personal services business risk matter most.
- Health care practices. Clinics and professional corporations with exempt and taxable services.
- Retail, e-commerce and restaurants. High transaction volume, payment processors and marketplace payouts, tips and inventory.
- Real estate and holding companies. Rental income and expenses, mortgage interest, and inter-company transactions. See holding company benefits in Canada.
- Startups. Short first years, investor reporting and SR&ED-ready records from the start.
We’re based in Etobicoke, Ontario, with an office in Mississauga, and work remotely with businesses across Toronto, the GTA and the rest of Canada. See our service areas for province-specific details. We don’t currently serve condo corporations.
Local bookkeeping pages: Toronto, Mississauga, Brampton, Vaughan, Markham, Oakville.
Bookkeeping rules every Canadian business owner should know
A few CRA rules catch owners out every year.
- Keep records for six years. The CRA generally requires you to keep books, records and supporting documents for six years from the end of the last tax year they relate to. Digital copies are fine if they’re legible and complete.
- Register for GST/HST at $30,000. Once your taxable sales pass $30,000 over four consecutive calendar quarters, you’re no longer a small supplier and must register. Our post on when to register for a GST/HST number explains the test.
- Know your filing frequency. Most small businesses file GST/HST annually or quarterly, depending on revenue, and can choose to file more often. See GST/HST filing frequencies.
- Back up your input tax credits. You can only claim GST/HST you paid if you have the supporting document, with the supplier’s GST/HST number for larger purchases. That’s what Dext is for.
- Keep personal and business separate. Personal spending through the company either gets added to your income or turns into a shareholder loan. A shareholder loan that isn’t repaid by the end of the corporation’s following tax year can be added to your personal income.
- Meals and entertainment are generally 50% deductible, and vehicle and travel claims need a logbook or trip records. See business trip expenses for Canadian corporations.
Law: Income Tax Act s.230(1) (records and books); Income Tax Act s.230(4) (six-year retention); Excise Tax Act s.286(1) (GST/HST records); Excise Tax Act s.169(4) (ITC documentation).
Why owners choose T-Ledgers for their bookkeeping
← Swipe to compare →
| T-Ledgers BEST VALUE | What owners often tell us they had before | |
|---|---|---|
| Price | ✓Published from-prices and a fixed monthly quote | ✗Hourly bills that changed every month |
| Who reviews your books | ✓A CPA reviews every close | ✗Nobody, until year-end |
| Response time | ✓We reply mostly within one business day | ✗Emails that sat for a week |
| Reaching us | ✓A 24/7 receptionist answers, so a real person picks up; our team is available Mon to Fri 9 am to 8 pm and Saturday 10 am to 4 pm | ✗Voicemail |
| Competing quote | ✓We match comparable written quotes, agreed before you sign our proposal | ✗Take it or leave it |
| Tax filings | ✓GST/HST, T2 and slips included in the plan | ✗A second firm and a second bill |
CPA-led, not just CPA-signed
Our team does the day-to-day bookkeeping, and a CPA reviews the reconciliations and reports before each close. It’s a habit from audit: the person who checks the work isn’t the person who did it. You can verify my CPA Ontario membership.
Your books, sales tax and T2 in one place
Most tax problems start in the books: personal expenses coded to the business, GST/HST that doesn’t reconcile, equipment expensed instead of capitalized. When the same team keeps your books and files your returns, those problems get fixed in the month they happen. See how that worked for a client whose GST/HST and T2 we filed together.
A team, not a single point of failure
You get a dedicated bookkeeper who knows your file, backed by the rest of our team and a CPA reviewer, so your books don’t stop when someone is on holiday.
Reports that lead to decisions
On our accountant calls we look at margins, cash flow and tax instalments, and when you need forward-looking numbers, our virtual CFO service picks up where the reports leave off. See how bookkeeping, strategy and tax came together for one small business.
Meet your CPA
Wajahat Ajmal, CPA, FCCA, Founder, T-Ledgers Accounting. Verify my CPA Ontario membership.
I started in audit at KPMG and later worked as an independent contractor for a tax filing company, preparing returns and handling client questions. I hold an MSc in Professional Accountancy from University College London, I’m a CPA in Ontario and a Fellow of the ACCA, and I founded T-Ledgers in 2023 after taking on my own clients from 2020.
Month-end close is where I spent most of my corporate career, and it’s the part of bookkeeping I care about most. Reconcile everything, question what looks odd, and never hand a client a report we haven’t checked.
What our clients say
“Great experience with T Ledgers. Professional and knowledgeable. Helped me with my businesses book keeping, consulted me on business strategy, and filed my taxes.” Dean Hanley, Google review
“The client portal T-Ledgers uses makes the whole process much easier than dealing with emails and PDFs back and forth. Document sharing is simple, questions get answered quickly, and you can always see where things stand.” Hurmat Shahid, Google review
Read more on our client reviews page and in our client case studies.
Frequently asked questions about bookkeeping services
How much do bookkeeping services cost for a small business in Canada?
At T-Ledgers, bookkeeping plans start from $350 a month (Growth, quarterly bookkeeping), $500 (Scale, monthly bookkeeping) or $700 (Ultimate, monthly bookkeeping with AP/AR and the director’s T1), depending on whether you need quarterly or monthly bookkeeping and how much support you want. All three include a basic QuickBooks Online subscription, Dext, GST/HST filing and your T2 corporate return. As a rule of thumb, bookkeeping costs 1% to 3% of annual revenue. Prices exclude HST/GST.
What's included in your monthly bookkeeping?
Transaction coding, bank and credit card reconciliations, receipt and bill capture with Dext, GST/HST tracking and filing, month-end adjustments, and a report pack each period: P&L, balance sheet, A/R and A/P aging, and a cash summary. Monthly books are closed by the 15th, and every close is reviewed by a CPA. The Ultimate plan adds accounts payable and receivable management.
Is the T2 corporate tax return included?
Yes. Growth, Scale and Ultimate all include your corporation’s annual T2 return, GST/HST filing and T4/T5 slips. The Ultimate plan also includes the director’s personal tax return. Because your books are reconciled all year, the T2 is prepared from numbers that are already clean.
What's the difference between the Growth, Scale and Ultimate plans?
Growth (from $350/month) closes your books and sends reports quarterly. Scale (from $500/month) does it monthly. Ultimate (from $700/month) is monthly with accounts payable and receivable management, the director’s T1 return, phone support and a monthly accountant call. Our packages page compares every item.
Is QuickBooks Online included, and do you support Xero?
Yes. A basic QuickBooks Online subscription and Dext are included in every plan fee. If you prefer Xero, we support it too. If you’re on QuickBooks Desktop, Sage, Wave or spreadsheets, conversion to a cloud system is part of onboarding. If you have no system, we’ll set one up for you.
Do you match other firms' prices?
Yes, if you have a written quote from another accounting firm for the same scope and show it to us before you sign our proposal. Price matching has to be agreed before the proposal is signed; we can’t revisit the price afterwards. The CPA review is the same whatever you pay.
Will my monthly fee change?
Not unless your scope changes. We don’t bill bookkeeping by the hour. If something comes up that’s outside your proposal, such as a new entity, missing records or a CRA review, we tell you the cost before doing the work, so there are no surprise bills.
How quickly will you respond to my questions?
We reply mostly within one business day by email or text, and Ultimate clients can also reach us by phone. A 24/7 receptionist answers our line, so a real person picks up, and our team is available Monday to Friday 9 am to 8 pm and Saturday 10 am to 4 pm.
Can you catch up bookkeeping that's months or years behind?
Yes. We rebuild missing periods from your bank and credit card statements, file overdue GST/HST and tax returns, and deal with the CRA for you. Catch-up work is priced per year, from $1,800 plus HST/GST with the GST/HST returns and T2 included, confirmed after a free review, and then you move onto a monthly plan.
What do you need from me each month?
Keep business and personal spending separate, upload receipts and bills to Dext, answer one short question list, and tell us about anything unusual, like a new loan, an equipment purchase or money moved between you and the company. Bank and card transactions come in automatically.
Do I need to visit your office?
No. We’re a remote, cloud-based firm, so you share documents through our secure portal and Dext and meet us by phone or video. If you’re in the GTA, you’re welcome to book a meeting at our Etobicoke or Mississauga office.
Do you provide bookkeeping outside Ontario?
Yes. We keep books for businesses in every province and territory except Quebec, and apply the right sales tax rules for each province, whether that’s HST, GST and PST, or GST only. It makes no difference whether you’re in Etobicoke, Calgary or Halifax.
Can you take over from my current bookkeeper or accountant?
Yes. We’ll need your accounting file or last year’s financial statements and tax return, recent bank statements and access to your CRA account. We confirm opening balances, carry forward anything that matters, such as the shareholder loan and asset schedules, and pick up from your last clean month.
Do you also run payroll?
Yes. Payroll can be added to any bookkeeping plan: pay runs, direct deposit, CRA source-deduction remittances, T4s and ROEs. Having payroll and the books with the same team means wages and remittances post correctly every month.
Do I need separate books for SR&ED?
No. You don’t need a second set of books. You need your existing books set up properly, with costs coded by project and time records tied to the work. We set that up inside your regular bookkeeping so everything stays in one place.
Can you fix past years so they're ready for an SR&ED claim?
Yes. We clean up past-year records by reorganizing costs by project, separating contractors, materials and related-party costs, and recording any government assistance. You generally have 18 months after your year-end to file an SR&ED claim, so it’s worth acting sooner rather than later.
Do you write the T661 and prepare the SR&ED claim?
Yes. We prepare SR&ED claims end to end: the eligibility review, the T661 technical narrative (written with your team), Schedule 31 and the expenditure figures. We keep your SR&ED-ready books so they reconcile to the claim, and prepare and file your T2.
Can you set up timesheets for our team?
Yes. We set up time tracking so your team can log SR&ED hours by person and by project. We then use those records each month when we code your labour costs.
Does a bookkeeping review replace my bookkeeper?
No. Your bookkeeper, or you, keeps doing the day-to-day entries. We review the work, correct errors and explain them, so your books are CPA-reviewed without paying for full-service bookkeeping.
Who does the bookkeeping review?
Every review is done by a CPA. The findings memo and the call come from the CPA who reviewed your file.
Should I choose a monthly or quarterly bookkeeping review?
Monthly Review ($195 a month + HST/GST) suits businesses with more activity, a newer bookkeeper, or lenders who want monthly numbers. Quarterly Review ($295 a quarter + HST/GST) suits quarterly GST/HST filers with lower volume. Complex books start from $450 per review + HST/GST.
What if my books are behind or have major errors?
Books more than 3 months behind, or with major errors found in the review, become catch-up work. It’s quoted separately, from $1,800 per year + HST/GST, before any work starts. Once the books are current, regular reviews begin.
Ready to hand off your books?
Whether you’re in your first year, tired of weekend bookkeeping, or months behind, the first step is a free 30-minute call. We’ll look at where things stand and send a fixed price, mostly within one business day. If you have a comparable written quote, show it to us before you sign and we’ll match it.
Call (866) 254-5368 or email info@tledgers.ca. A 24/7 receptionist answers, so a real person picks up.