Accounting for spas in Ontario
Spas sell services, packages, and gift cards, and carry retail product lines, which means deferred revenue and inventory on top of payroll.
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taxifi · Spas
This month
- Bookkeeping Current
- Payroll & source deductions Filed
- HST Filed
- Year-end tax (T2) On track
The problems we take off your plate
Gift cards and packages
Prepaid packages and gift cards are treated as deferred revenue and recognized when redeemed, so your income isn't overstated up front.
Retail product lines
Product sales are tracked separately from services, with inventory kept current.
Practitioner and reception pay
Staff are paid on schedule with source deductions remitted to CRA on time and T4s ready at year-end.
What’s included
One flat monthly price for incorporated Ontario spas. Everything below is in it.
- Bookkeeping for packages and gift-card (deferred) revenue
- Retail inventory tracked
- Payroll for practitioners and reception
- HST returns prepared and filed
- Year-end corporate tax (T2), included
| Area | A typical setup | With taxifi |
|---|---|---|
| Your books | Weeks or months behind | Current every day |
| Year-end (T2) | A spring scramble, billed extra | Included, no surprise invoice |
| Your accountant | Metered by the hour | Unlimited questions, flat monthly |
Common questions
How are gift cards handled?
Gift-card sales are treated as deferred revenue and recognized when redeemed, so your income isn't overstated.
Do you work with incorporated spas?
Yes. Incorporated spas are a good fit.
Books and taxes for your spa, done
One flat monthly price for Ontario businesses, scoped on a discovery call.
Book a discovery call