Accounting is an essential part of running a business in Canada. From bookkeeping and payroll to corporate tax returns and financial statements, professional accounting services help businesses maintain accurate records, meet Canada Revenue Agency (CRA) requirements, and make better financial decisions.
The cost of accounting services depends on the type of service, transaction volume, business structure, location, and complexity. In 2026, Canadian businesses can generally expect to pay anywhere from a few hundred dollars per month for basic bookkeeping to several thousand dollars for comprehensive accounting, tax, audit, or advisory services.
Average Accounting Service Costs in Canada
| Accounting Service | Typical Cost in Canada |
|---|---|
| Basic bookkeeping | $200–$800+ per month |
| Outsourced bookkeeping | $300–$2,000+ per month |
| Bookkeeper hourly rate | $30–$90/hour |
| Accountant/CPA hourly rate | $150–$400+/hour |
| Personal tax return (T1) | $100–$1,500+ |
| Corporate tax return (T2) | $1,200–$8,000+ |
| GST/HST filing | $65–$300+ per filing |
| Payroll services | $50–$500+ per month |
| Financial statements/compilation | $500–$2,500+ |
| Review engagement | $2,500–$10,000+ |
| Audit | $8,000+ |
| Tax planning/advisory | $150–$400+/hour |
| Business incorporation | $1,000–$2,500+ |
| Accounting cleanup/catch-up | $1,000–$15,000+ |
| Full-service accounting | $1,200–$3,500+ per month |
These are broad market ranges. For example, current Canadian pricing guides put ongoing outsourced bookkeeping around $300–$2,000+ per month, while CPA-led services can be considerably more expensive.
1. Bookkeeping Services
Bookkeeping involves recording business transactions, reconciling bank accounts, maintaining ledgers, tracking income and expenses, and preparing records for tax filing.
Typical costs in Canada are:
- Basic bookkeeping: $200–$500/month
- Standard bookkeeping: $500–$800/month
- Advanced bookkeeping: $800–$1,500/month
- Complex businesses: $1,500–$3,000+/month
- Hourly bookkeeping: approximately $30–$90/hour
The price generally increases with transaction volume, payroll, inventory, multiple bank accounts, and the condition of the existing records.
2. Personal Tax Returns
A Canadian accountant can prepare and file an individual’s T1 personal income tax return.
Typical prices start around:
- Simple T1 return: $100–$300+
- Self-employed individual: $300–$800+
- Investment/rental income: $400–$1,000+
- Complex personal return: $1,000–$1,500+
- Final/deceased return: $300–$500+
- Prior-year return: $150–$500+
For example, one Canadian accounting firm lists basic T1 returns starting at $100 and final returns starting around $320.
3. Corporate Tax Returns
Corporations generally file a T2 Corporation Income Tax Return.
Typical accounting fees can range from approximately $1,200 to $8,000+ per year, depending on the corporation’s size and complexity.
A small corporation with straightforward transactions may pay around $1,200–$2,500, while corporations with multiple shareholders, investments, foreign transactions, inventory, or complicated tax matters can cost substantially more.
4. GST/HST Returns
Businesses registered for GST/HST may need regular sales-tax filings.
Typical professional fees are approximately:
- Simple GST/HST filing: $65–$150
- Standard filing with bookkeeping: $150–$300+
- Complex sales-tax filing: $300+
Some accounting firms charge GST/HST filing separately, while others include it in a monthly bookkeeping package. One Canadian firm currently lists GST/PST filings at $65 per filing.
5. Payroll Accounting
Payroll services can include:
- Employee payroll calculations
- CPP and EI calculations
- Payroll remittances
- T4 preparation
- Record of Employment preparation
- Payroll reporting
- Year-end payroll reconciliation
Small businesses may pay approximately $50–$500+ per month, depending on the number of employees and payroll frequency.
Additional fees may apply for T4 and T5 slips. For example, one Canadian provider lists payroll for up to two employees at $65/month.
6. Financial Statements
Accountants can prepare financial statements such as:
- Balance sheet
- Income statement
- Statement of cash flows
- Notes to financial statements
A compilation engagement may cost approximately $500–$2,500. More formal review engagements generally cost approximately $2,500–$10,000, while audits can begin around $8,000 and increase significantly for larger organizations.
7. Tax Planning and Advisory Services
Tax planning can help businesses and individuals structure their finances more efficiently and plan for future tax obligations.
CPA advisory services commonly cost approximately $150–$400+ per hour, with senior partners or specialized professionals potentially charging more.
Services can include:
- Corporate tax planning
- Personal tax planning
- Owner-manager compensation planning
- Business restructuring
- Retirement planning
- Tax-efficient investment strategies
- Estate and succession planning
8. Business Incorporation
An accountant or professional advisory firm may assist with incorporating a business and setting up its accounting structure.
Typical professional fees are approximately $1,000–$2,500, depending on whether the incorporation is provincial or federal and what additional setup services are included.
9. Accounting Cleanup and Catch-Up
Businesses with several months or years of incomplete bookkeeping may require a cleanup project before regular accounting can begin.
Costs can range from approximately $1,000 to $15,000+, depending on the number of months involved, transaction volume, missing records, and tax filings that need correction.
10. Full-Service Accounting Packages
Some Canadian accounting firms provide an all-inclusive monthly package covering bookkeeping, payroll, GST/HST filings, financial reporting, year-end accounting, and tax support.
Typical pricing is approximately:
$1,200–$3,500+ per month
A small business with straightforward operations may be at the lower end, while businesses with employees, inventory, multiple entities, or significant transaction volumes may pay considerably more.
What Determines Accounting Costs in Canada?
Several factors affect the final price:
Business Size
A small sole proprietorship usually requires less accounting work than a corporation with dozens of employees.
Transaction Volume
More invoices, bank transactions, credit-card transactions, and expenses require more bookkeeping time.
Number of Employees
Payroll adds recurring accounting and compliance work.
Business Structure
Sole proprietorships are generally simpler than corporations, partnerships, trusts, or businesses with multiple entities.
Industry
Restaurants, construction companies, real estate businesses, professional corporations, and businesses holding inventory may require more specialized accounting.
Location
Accounting rates vary across Canada. Toronto and Vancouver, for example, tend to have higher professional-service rates than several smaller Canadian markets.
Condition of the Books
Clean, organized records generally cost less to maintain than books requiring significant cleanup.
Monthly Accounting Cost Example
A small Canadian corporation with approximately 100–150 monthly transactions and a few employees might have a monthly accounting budget such as:
| Service | Estimated Monthly Cost |
|---|---|
| Bookkeeping | $500–$800 |
| Payroll | $100–$300 |
| GST/HST support | $50–$150 |
| Financial reporting | $100–$300 |
| Accounting/tax support | $100–$300 |
| Estimated total | $850–$1,850/month |
The actual price depends on what the accounting firm includes in its package.
Conclusion
Accounting services in Canada can range from approximately $200 per month for basic bookkeeping to several thousand dollars per month for comprehensive accounting and advisory services. One-time services such as tax returns, incorporation, financial statements, and accounting cleanup have their own separate pricing structures.
For most small businesses, the best approach is to compare accounting firms based on the total services included, rather than choosing solely by hourly rate. A slightly higher monthly fee may provide bookkeeping, GST/HST filings, payroll, financial reports, and year-end tax preparation in one predictable package.
All prices in this article are approximate 2026 Canadian market ranges in Canadian dollars (CAD). They should be used as budgeting guidelines rather than fixed quotations.