Question 1

How much does a bookkeeper cost in Canada?

Accepted Answer

Outsourced bookkeeping in Canada usually runs from $200 to $1,500+ per month. Your fee depends on transaction volume, complexity, and add-ons like payroll and HST filing. A simple business under 50 transactions per month can expect to pay $200 to $350. A larger operation with 400+ transactions may pay $900 to $1,500+. Those are monthly retainer rates. Hourly bookkeeper rates in Ontario range from $25 to $60 per hour.

Question 2

What factors affect bookkeeping pricing?

Accepted Answer

Monthly transaction volume is the biggest factor. More transactions means more reconciliation work. Other inputs include payroll processing, HST filing, and the complexity of your chart of accounts. The number of bank and credit card accounts matters too, along with accounts receivable management and your cloud accounting software (QuickBooks Online or Xero). Businesses with multiple revenue streams or inventory tracking pay more.

Question 3

Is it cheaper to do my own bookkeeping?

Accepted Answer

DIY bookkeeping has no direct cost. Most business owners underestimate the time involved and the cost of errors. Missed deductions, late HST filings, and messy books at year-end can cost thousands in CRA penalties and lost tax savings. Outsourced bookkeeping usually pays for itself through cleaner records, faster year-end prep, and better financial visibility when you make decisions.

Question 4

What is included in a monthly bookkeeping package?

Accepted Answer

A standard monthly package includes bank and credit card reconciliation, expense categorization, and monthly financial reports such as the profit & loss and balance sheet. It also covers accounts payable and receivable management plus cloud software maintenance in QuickBooks or Xero. Higher-tier packages add payroll processing, GST/HST filing, custom KPI dashboards, and a dedicated bookkeeper.

Question 5

How much does catch-up bookkeeping cost?

Accepted Answer

Catch-up bookkeeping is charged as a one-time fee. Expect $500 to $2,500+, depending on how many months you are behind and how complex your transactions are. A business 3 to 6 months behind with straightforward transactions might pay $500 to $1,000. One that is 1 to 2 years behind with multiple bank accounts could pay $1,500 to $2,500+. Our team assesses this during your free consultation.

Bookkeeping Cost Calculator for Ontario Small Business

What drives bookkeeping costs in Ontario?

Transaction Volume

Bank & Credit Accounts

Payroll Processing

GST/HST Filing

Industry Complexity

DIY vs Outsourced

Bookkeeping cost questions, answered

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