Bookkeeping Services for Small Businesses in Scarborough and Toronto

Toronto Tax & Accounting Solutions Inc. provides monthly bookkeeping, catch-up and cleanup, and year-end bookkeeping preparation for small businesses, freelancers and incorporated companies. We categorize transactions, reconcile accounts and prepare reports so you can see how your business is doing and organize the records needed for tax filing.

Work with us at our Scarborough office or remotely across Toronto and the GTA. Remote service is available across Canada except Quebec, with service in English, Urdu and Punjabi. We review the volume and condition of your records before confirming the work and fee.

Request a bookkeeping quote or call (437) 410-7999.

200+ five-star Google reviews. Monthly bookkeeping from $99 CAD before HST: Books Starter $99, Books Standard $249, Books Growth $449 a month.

How much does bookkeeping cost?

Monthly bookkeeping packages start from the prices below, in CAD before HST. They are based on workload, not on your business revenue. We review your records and confirm the final scope and fee in writing before work begins.

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How we count. A transaction is one line on a bank or credit card statement that has to be recorded, such as a sale, expense, transfer or payment. An account is each bank or credit card account we reconcile for you.

What is extra. Software subscriptions, catch-up bookkeeping, payroll and annual tax returns are extra unless your written quote expressly includes them. Monthly GST/HST filing is not automatically included. Catch-up and cleanup work is quoted separately.

When your quote changes. If your transactions or accounts regularly go beyond your package, or the condition of your records takes more time than expected, we propose a revised quote. We agree with you before charging for any extra work.

Your quote should identify the periods and accounts covered, reporting frequency, any initial cleanup and any separate filings. Financial-statement preparation and tax returns are quoted separately from bookkeeping. Software subscriptions are paid by your business. Confirm any payroll or GST/HST filing work in the scope before starting.

Getting started is simple

1. Tell us about your business

Tell us what your business does, roughly how many transactions you have each month, how many bank and credit card accounts you use, and whether your books are current or behind. An estimate is enough for the first conversation.

2. Review your quote

We review your needs and available records, then explain the monthly price, any initial cleanup, what is included and what is charged separately. Monthly bookkeeping starts from $99 CAD before HST (Books Starter from $99, Books Standard from $249, Books Growth from $449 a month); your quote reflects your business size and volume.

3. Share your records and access

We give you a checklist and explain how to provide statements, receipts and accountant access to your software. Your business keeps control of its accounts. Never send banking passwords.

4. Keep your books current

Once you accept the quote, we agree the start date and reporting schedule. You provide records and answer questions; we reconcile the agreed accounts and prepare your reports.

Monthly support, catch-up or year-end preparation

Ongoing monthly bookkeeping

For businesses with regular sales and expenses that need their books kept current throughout the year. We record and categorize transactions, reconcile bank, credit card and loan accounts, and prepare profit and loss reports and balance sheets. You receive the agreed reports and a list of questions or missing records to resolve. A quarterly reporting arrangement may suit a business with fewer transactions; we confirm the schedule with you.

Catch-up and cleanup

For books that are months or years behind, have unreconciled balances or need corrections. We review your existing file and available statements, invoices and receipts, then agree which periods and accounts need work. Missing records may limit what can be completed. Cleanup is scoped before starting, and you can move to ongoing support once the books are current. See our catch-up bookkeeping checklist for the records to gather.

Year-end readiness

For businesses preparing records for a corporate or self-employed tax return. We complete the agreed reconciliations and adjustments, review receivables, payables and inventory records, record assets and loans, and prepare a trial balance for tax preparation. Our year-end bookkeeping checklist explains what to gather. Tax returns and separate financial-statement preparation are quoted separately.

See our North York service page for an overview of online bookkeeping and tax support, or Vaughan for small-business filing and record preparation.

QuickBooks setup, cleanup, switching and ongoing support

QuickBooks Online is the accounting software we work in most often, although the right software depends on your business and preference. You own and pay for your own QuickBooks subscription; we can advise which plan fits and then work in your file through accountant access. Behroz Rizvi does the bookkeeping work personally.

• Setup: help getting a new QuickBooks file ready, including bank and card connections and a chart of accounts that suits your business.
• Cleanup: reconciling accounts and correcting categories when books are behind or inconsistent.
• Switching: help moving your records from another bookkeeping system or spreadsheets into QuickBooks.
• Ongoing support: monthly bookkeeping in your file, with reports and records organized for tax filing.

The exact scope and fee are confirmed in writing before work begins. To give us access, see how to give your accountant access to QuickBooks Online.

What our bookkeeping covers

Depending on the scope agreed for your business, the work covers:

• Recording and categorizing income and expenses.
• Reconciling business bank, credit card and loan accounts.
• Tracking GST/HST charged on sales and paid on purchases.
• Maintaining accounts receivable and payable lists.
• Recording payroll, owner draws, dividends and shareholder loan activity from the information you provide.
• Preparing monthly or quarterly profit and loss reports and balance sheets.
• Catch-up work and year-end adjustments before your T2 or self-employed return.

Routine bookkeeping reports show the income, expenses, assets and liabilities recorded in your books. Separate financial-statement preparation is additional work with its own quote. Tell us if a lender or another organization has asked for a particular financial statement so we can confirm what is needed before you proceed.

Payroll processing, tax returns and GST/HST filing should be identified in your agreed scope. Recording payroll figures or tracking GST/HST does not, by itself, include running payroll or filing returns. We do not provide WSIB services.

A practical bookkeeping workflow

Weekly (you)

Keep receipts and bills, issue invoices and record payments received. Keep business spending separate from personal spending, and explain unusual deposits or payments, such as loans, refunds and personal transfers.

Monthly (us)

We categorize transactions, match supporting records and reconcile accounts to statements. We send questions about missing or unclear items and prepare the agreed reports. If we also run your payroll, we record payroll and remittances in your books.

Quarterly (us, with your approval)

We review GST/HST records and profit to date. If quarterly GST/HST return preparation is part of your agreed work, we prepare the return for your review. Reporting and filing schedules are confirmed for your business.

Year-end (us)

We complete the agreed final reconciliations and adjustments, review the supporting records and prepare the trial balance for the tax return. You supply year-end inventory, unpaid invoice and bill details, and records of assets, loans and owner transactions where applicable.

What we need from you

To assess your bookkeeping, tell us your business type, software, approximate monthly transaction count, number of accounts and the last period completed. Then we arrange access and confirm the records needed:

• Accountant access to your bookkeeping software. Your business holds and pays for its subscription.
• Monthly bank, credit card and loan statements, with bank feed access where applicable.
• Sales invoices, platform payout reports and point-of-sale summaries.
• Receipts and bills for expenses.
• Your business number and GST/HST account details, if registered.
• Payroll reports if another provider runs payroll.
• Last year's tax return and closing balances, especially when switching bookkeepers.

We review what is available, identify any cleanup and agree the scope, fee and reporting schedule before starting. You continue supplying records and answering questions during the year. Our monthly bookkeeping checklist helps you prepare.

Keep original receipts, invoices and statements. The CRA generally requires records to be retained for six years from the end of the last tax year they relate to, with exceptions that can require longer retention. See the CRA's record-keeping guidance.

Who does the work

Behroz Rizvi holds the Payroll Compliance Practitioner (PCP) designation, Xero Certified Specialist Level 3 and Xero Certified Professional Level 2 (valid until October 26, 2027), and a Xero payroll specialist credential. See the credentials on our About page, or what a T2 return costs in Toronto if you also need your corporate return filed.

We also keep the books for dental clinics. See our page on bookkeeping and tax for dental clinics in Toronto and the GTA.

Free record-keeping templates

If you keep your own books, these templates can help you organize records for a later review, cleanup or year-end:

• Self-employed income and expense tracker (Excel, 203 KB): income, expenses, mileage, GST/HST filings and a year-end summary. See self-employed tax filing for the records checklist.
• Corporate T2 year-end records tracker (Excel, 168 KB): statements, filings and documents to gather for bookkeeping and your T2 return.

Record sales and expenses with the date, amount before tax and GST/HST. Keep the supporting documents and reconcile totals to bank statements. Remove the example rows before using the workbooks' totals.

Before you send documents: do not email banking credentials or passwords. For SINs, employee tax information and full tax slips, contact us first for instructions on the safest way to send documents.

Frequently asked questions

I am a freelancer. Do I need a bookkeeper?

Not always. A separate business account and a simple tracker may be enough for a small number of transactions. Ongoing help becomes more useful when records take too much time, transactions increase or you need regular reporting. Our self-employed tax page lists the records to keep.

My business is incorporated. What changes?

Keep the corporation's records separate from your personal spending and identify money paid to or received from owners. We record salary, dividends and shareholder loan activity as applicable to the information provided. The year-end books support your T2 return.

I am registered for GST/HST. How does bookkeeping help?

Bookkeeping tracks tax collected and paid and helps organize the records supporting your return. Quarterly or annual GST/HST filing is included with Books Standard and Books Growth and costs extra with Books Starter. Monthly GST/HST filing is not automatically included, and your written quote confirms the scope. See GST/HST services and our guide to paying GST/HST to the CRA.

How far behind can my books be?

We can review past months or years. Bring the statements, invoices, receipts and existing bookkeeping file you have. We assess what can be rebuilt and quote the catch-up work after reviewing the available records.

Which software do you use?

QuickBooks is common, but the right software depends on your needs. Your business pays for its subscription and gives Toronto Tax accountant access, so the books stay in your name. If you prefer to keep your own books, we can discuss chart-of-accounts setup and guidance, followed by a year-end review.

Can we work together remotely?

Yes. We can work by email, phone or video without an office visit. Use Info@torontax.ca for general correspondence. Contact us for submission instructions before sending sensitive records, and never send banking credentials or passwords.

Does bookkeeping include my business tax return?

Confirm that in your quote. Keeping records, completing year-end work and preparing a tax return are different tasks. Ask who handles each and what is charged separately. Explore corporate tax preparation.

Related services

• GST/HST registration and filing
• Payroll services
• Corporate tax (T2) filing
• Self-employed tax filing

Start with a bookkeeping review

Tell us whether you need ongoing bookkeeping, catch-up work or year-end preparation. Include your business type, approximate monthly transaction count, software and how current your books are. We will review the information and confirm the work and fee.

Use the contact form or call (437) 410-7999. Our only physical office is Office 19, 695 Markham Road, Scarborough, Ontario M1H 2A5.

Planning your year? Try our small business tax and HST calculator.