Bookkeeping in Canada
We help founders understand where their money is going, every month, on time. Delivered to ASPE / IFRS for Canadian businesses, priced in CAD.
Canadian bookkeeping is a two-layer problem that most templates treat as one. Federal GST or HST is recoverable and provincial PST or QST largely is not, so a single supplier invoice can need two different treatments — and a chart of accounts that does not separate them at the point of entry produces a return that needs manual repair every period.
The CRA expects the GST/HST return one month after the end of the reporting period for monthly and quarterly filers, T4 slips and summary by the last day of February, and payroll source deductions by the 15th of the following month for a regular remitter. The T2 then follows six months after year end — but the tax balance is payable long before that.
The deadlines we track against your ledger.
| Obligation | Frequency | Due | Authority |
|---|---|---|---|
| GST/HST return and paymentGST/HST registrants | Quarterly | 1 month after the end of the reporting period for monthly and quarterly filers | CRA |
| Payroll source deduction remittanceEmployers | Monthly | 15th of the following month for regular remitters | CRA |
| T4 slips and summaryEmployers | Annual | Last day of February | CRA |
| T2 corporation income tax return | Annual | 6 months after the end of the fiscal year | CRA |
Last reviewed against the source . These are the standard dates. Extensions through a registered agent, a non-calendar year end, and volume-based filing frequencies all shift them — confirm your own dates with CRA. This is general information, not tax advice.
Bookkeeping deliverables
- Weekly bank & credit-card reconciliation
- Receipt and document matching
- Monthly P&L and Balance Sheet
- Chart-of-accounts maintenance
- Month-end close on a fixed calendar
- Dedicated bookkeeper inside your software
QuickBooks Online
QuickBooks Online is the Canadian default and handles the federal and provincial sales-tax split properly once it is configured for your province. We set the tax codes up correctly at the outset rather than correcting the return every quarter.
A worked example, in your currency.
A Toronto professional services firm, 1,100 transactions a month, HST-registered, 14 staff.
- In-house bookkeeper (fully loaded, per month)
- $5,900
- Salt bookkeeping + HST compliance
- $1,700
- Monthly saving
- $4,200
Figures in CAD. Firms operating across provinces usually need separate tax codes per province rather than one blended rate.
The framework your Canada accounts are held to.
We prepare to ASPE or IFRS, as issued by the AcSB. These are the bodies that set that framework and the authorities you file with — linked so you can verify the standard rather than take our word for it.
- Professional bodyCPA CanadaChartered Professional Accountants CanadaNational body for Canadian professional accountants.
- Standards setterAcSBAccounting Standards BoardIssues ASPE and adopts IFRS for Canadian reporting.
- RegulatorCRACanada Revenue AgencyGST/HST, T2 corporate returns and payroll remittances.
Listed for reference. Salt Accounting Group is not stating membership, registration or affiliation with any of these organisations. Where a filing must be lodged by a registered local agent, it is — your agent keeps the lodgement and the professional sign-off.
Bookkeeping in Canada
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Bookkeeping for Canada, simply handled.
Tell us where you trade and what shape the books are in. You get scope, price and a start date in writing within one business day — no obligation.