How Much Does a Bookkeeper Cost in Canada?

It’s the question every business owner asks first and almost every bookkeeping website avoids answering. So here are real numbers, along with the thing that matters more than the number: what you’re actually buying.

Bookkeeping in Canada is generally priced three ways — hourly, monthly package, or per project. Each suits a different situation.

Hourly rates

Hourly pricing across Canada typically falls into these bands:

Rates run higher in Toronto and Vancouver than in Winnipeg, Regina or Halifax. Note also that a CPA firm charging $150 an hour to categorise bank transactions isn’t good value — that’s work an experienced bookkeeper does properly at a third of the price. The distinction is explained in Do I Need a Bookkeeper or an Accountant?

The problem with hourly is that your bill depends on how messy your records are, and you can’t forecast it. Most established businesses eventually move to a monthly fee.

Monthly packages

Monthly pricing is the norm now, and it’s priced off transaction volume and complexity rather than time.

• $150 – $300/month — sole proprietor or micro business. Roughly 50 to 100 transactions a month, one or two bank accounts, no payroll, GST/HST filed annually or quarterly.
• $300 – $600/month — established small business. 100 to 300 transactions, a couple of accounts and a credit card, quarterly GST/HST, monthly reporting.
• $600 – $1,200/month — growing business with payroll for a handful of employees, multiple accounts, monthly financial statements and some advisory contact.
• $1,200 – $2,500+/month — multiple locations, inventory, larger payroll, job costing or class tracking, controller-level reporting.

Payroll is usually quoted separately, commonly as a base fee plus a per-employee charge. If payroll is part of your picture, Payroll Basics for Canadian Employers explains what’s involved.

What pushes your quote up

Two businesses with identical revenue can get quotes that differ by double. These are the reasons:

• Transaction volume. The single biggest driver. A consultancy with forty transactions a month is nothing like a café with a thousand.
• Number of accounts. Every bank account, credit card and payment processor is another feed to reconcile.
• Payroll. Employee count, pay frequency, and whether you have benefits, multiple provinces or complex deductions.
• Sales tax complexity. Filing GST in one province is simple. GST, HST and QST across several provinces is not.
• Industry. Restaurants, construction and e-commerce carry more moving parts. See Bookkeeping for Restaurants in Canada for a worked example.
• Cleanup work. Two years of unreconciled books is a separate project before ongoing work can start, usually billed as a one-off.

The catch with cheap quotes

A $99-a-month quote is almost always doing less. That’s not automatically wrong — if you genuinely need bank feeds categorised and nothing else, pay for that. But confirm what’s excluded, because the common gaps are the expensive ones:

• Bank and credit card reconciliation actually performed monthly, not just transactions categorised
• GST/HST return preparation
• Year-end file preparation for your accountant
• Monthly financial statements you can read
• A named person you can email with a question

That last one is undervalued until you need it. A bookkeeper who answers a five-minute question in December can save you a four-figure problem in June.

What you should be getting

At any price point, you should receive reconciled accounts every month, financial statements you understand, sales tax numbers ready to file, a clean file handed to your accountant at year-end, and someone accountable when something looks off.

A good rule: if your bookkeeping fee is less than what one missed CRA deadline costs you in penalties and interest, you’re already ahead.

Comparing quotes properly

Before you compare two numbers, make sure they cover the same scope. Ask both providers the same questions — How to Choose a Bookkeeper in Canada: 7 Questions to Ask gives you a list you can work through. And if you’re comparing software costs at the same time, QuickBooks vs Xero for Canadian small businesses covers that side.

EverBooks quotes on scope, not on guesswork — you’ll know what’s included before you commit. See our bookkeeping services or book a free consultation for a straight answer on what your business would cost.