Learn About Bookkeeping
Everything you need to know about hiring a bookkeeper, costs, and making the right choice for your business.
Bookkeeper vs Accountant: What's the Difference?
Bookkeepers and accountants both work with financial data, but their roles are distinct. Bookkeepers handle the day-to-day: recording transactions, reconciling bank statements, managing accounts payable and receivable, processing payroll, and maintaining organized financial records. Accountants take those records and provide higher-level analysis: preparing financial statements, filing corporate tax returns, advising on tax strategy, and representing you in CRA audits. Most small businesses need a bookkeeper year-round and an accountant at tax time. Some firms offer both services under one roof.
How Much Does a Bookkeeper Cost in Canada?
Bookkeeping costs vary by experience, location, and complexity. Freelance bookkeepers typically charge $25–$50/hour, while established firms charge $40–$80/hour. Many bookkeepers offer monthly packages: expect $300–$500/month for a simple sole proprietorship, $500–$800/month for a small business with employees, and $800–$1,500+ for complex operations. Payroll add-on services run $50–$150/month. Year-end cleanup and tax prep packages range from $500–$1,500 as a one-time fee. Always ask what's included — some packages cover unlimited transactions, while others charge per transaction volume.
When Should You Hire a Bookkeeper?
There are clear signals that it's time to bring in a professional bookkeeper. You're spending more than 5 hours a month on your own books. You've missed a tax deadline or CRA remittance. Your records are months behind. You're hiring your first employee and need payroll. Your revenue has crossed $50K and the transactions are getting complex. You're losing receipts or can't reconcile your accounts. The cost of a bookkeeper ($300–$800/month) is almost always less than the cost of CRA penalties, missed deductions, and the time you lose doing it yourself.
How to Choose the Right Bookkeeper
Start by identifying your needs: do you need full-service monthly bookkeeping, just payroll, or year-end cleanup? Look for relevant certifications — CPB (Certified Professional Bookkeeper) from the Canadian Institute of Bookkeeping or QuickBooks ProAdvisor / Xero Certified. Ask about their experience with your industry and business size. Check references and Google reviews. Confirm their software expertise matches yours (QuickBooks, Xero, Wave). Ask about their communication style — will you get monthly reports and regular check-ins? Finally, get clear pricing upfront: hourly vs. monthly package, and what's included.
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