Online bookkeeping for small businesses in Canada

Tradespeople, shops, restaurants, consultants, online sellers and other small business owners who would rather not do their own books.

A monthly retainer based on transaction volume and services, plus extras for cleanup of messy books, payroll or year-end preparation.

• Cloud accounting software such as QuickBooks Online or Xero
• Organised and consistent with monthly deadlines
• Explaining numbers simply to business owners

• Bookkeeping is generally not a regulated title, but check your province before using words like accountant or CPA
• Review and audit work is restricted to licensed CPAs, so refer that work out
• Ask about errors and omissions insurance
• Handling client bank access and payroll needs strong security and clear written agreements
• Check rules on GST/HST, payroll remittances and any provincial taxes, as they vary by province
• Tax and filing deadlines bunch up at year-end, so plan your workload

Startup costs are estimated at typically around $1,000 to $4,000, depending on your computer, cloud accounting software subscriptions, insurance, training and a simple website. Working remotely means you avoid office rent.

Monthly revenue is estimated at typically around $1,500 to $7,000, depending on how many clients you take on and your monthly fees. Filing deadlines bunch up at year-end, so plan your workload.

Bookkeeping is generally not a regulated title, but check your province before using words like accountant or CPA. Review and audit work is restricted to licensed CPAs. Also check errors and omissions insurance, client data security, and GST/HST and payroll rules.