Bookkeeping services in Toronto
Bookkeeping, HST, payroll, and year-end corporate tax for incorporated Toronto businesses. Books current every day, signed by a Canadian accountant, one flat monthly price.
CRA EFILE authorized · Every file reviewed by an accountant · Switching is free — about an hour of your time
Bookkeeping at Toronto transaction volume
Toronto businesses tend to outgrow their bookkeeping earlier than businesses elsewhere in Ontario, and the reason is volume rather than complexity. A restaurant on Queen West, an agency with forty retainer clients, or a trades company running six crews across the GTA generates transaction counts that make monthly batch bookkeeping structurally unable to keep up.
When a bookkeeper works through a month of high-volume transactions after the fact, two things happen. Categorization gets coarser, because nobody can research four hundred line items, and the report lands so late that it describes a period you can no longer influence.
Multi-location and multi-entity
Toronto is also where owners start running more than one thing. A second location, a holding company over an operating company, a separate entity for a property. Each one needs its own books, its own HST position, and its own year-end, and intercompany transactions have to be tracked deliberately rather than netted off.
Where a shareholder moves money between related companies, the shareholder loan rules matter and the balances need watching through the year rather than discovering at year-end. Our guide on shareholder loan rules covers the consequences of getting that wrong.
Mixed workforces
Agencies use freelancers. Trades use subcontractors. Hospitality runs high turnover with tipped staff. Toronto businesses commonly have all three patterns inside one payroll, and each carries different obligations: T4 slips and source deductions for employees, T4A for contractors, T5018 where construction is the primary business.
Getting the classification wrong is the expensive mistake, because a reclassification puts the unremitted deductions on the business. Our guide on T4 versus T4A sets out where the line falls.
The Ontario layer
HST at thirteen per cent, the Employer Health Tax above the exemption threshold, and WSIB where the industry requires coverage. All handled as part of the monthly service, and all sensitive to getting the underlying books right first.
What taxifi does differently here
Transactions are categorized and reconciled as they land rather than in a monthly batch, so volume stops being the constraint. Books are current within twenty-four hours, a Canadian accountant reviews and signs each month, and the same team files your HST and prepares the year-end return.
What’s included
- Daily categorization and reconciliation of every transaction
- Bank, credit card, and loan accounts balanced every month
- A monthly report reviewed and signed by a Canadian accountant
- HST returns prepared and filed on your schedule
- Payroll and source deductions remitted to CRA on time
- Year-end corporate tax return (T2), included in the monthly price
- Unlimited questions to your accountant, year-round
Also in Toronto: Restaurants · Dentists · Lawyers · Plumbers · Real Estate Agents · Graphic Designers
More on bookkeeping: Bookkeeping services · For small business · Online bookkeeping · Outsourced bookkeeping · Catch-up bookkeeping · Toronto · Ottawa · Mississauga · Bookkeeper vs. accountant · Bookkeeper vs. AI accounting
All four services: Bookkeeping · Tax · Payroll · Business advisory
Common questions
Do you handle high transaction volumes?
Yes. Transactions are categorized and reconciled as they land rather than worked through in a monthly batch, so volume does not degrade the quality of the categorization or delay the report.
Can you handle multiple Toronto locations or entities?
Yes. Each entity gets its own books, its own HST position, and its own year-end, with intercompany transactions tracked deliberately rather than netted off.
We use employees, freelancers, and subcontractors. Can you manage that?
Yes, and the classification is the important part. Employees need source deductions and a T4, contractors are reported on a T4A, and construction businesses paying subcontractors also file a T5018. Getting it wrong puts the unremitted deductions on the business.
Do you handle Ontario HST, EHT, and WSIB?
Yes. HST at thirteen per cent, the Employer Health Tax above the exemption threshold, and WSIB premiums where your industry requires coverage are all part of the monthly service.
Your Toronto books, current every day
One flat monthly price. Book a call and we’ll quote it live.
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