For small businesses in Canada, accounting services are a crucial investment. On average, monthly accounting fees range from $450 to $800, depending on the complexity of services required. For more comprehensive packages, including monthly bookkeeping, sales tax filing, year-end financial work, and tax planning, costs can range between $1,200 and $1,500 per month.
Alternatively, some businesses opt for flat annual fees, which can range from $1,000 to $5,000, depending on the size and needs of the business.
Our tax services are available in Coquitlam and other regions across British Columbia.
cost of accountant for business canada
| Type of Accounting Service | Typical Cost Range (CAD) |
|---|---|
| Basic Monthly Bookkeeping | $200 – $800+ |
| Common Monthly Range (Small Businesses) | $450 – $800 |
| Mid-Level Monthly Accounting Packages | $900 – $2,000 |
| Full-Service Monthly Package | $1,200 – $1,500 |
| Annual Accounting Services | $1,000 – $5,000 per year |
| Small Business Accounting (Tally Accounting) | $750 – $2,000 (monthly) |
| Fixed Monthly Rates | Starting from $585/month |
| Hourly Rates | $150 – $400+ per hour |
Our other tax services:
- Personal Tax Return Coquitlam
- Business Tax Return Coquitlam
- Online Payroll Services Coquitlam
- WCB Employer Registration Coquitlam
- Record of Employment Service
FAQ about Accounting Cost in Canada
-
What is the average monthly cost of accounting for a small business in Canada?
Typically between $450–$800 per month, depending on the services included. -
How much does a full-service monthly accounting package cost?
Comprehensive packages with bookkeeping, sales tax, year-end, and planning usually cost $1,200–$1,500/month. -
Can I pay an annual flat fee instead of monthly accounting fees?
Yes. Annual fees often range from $1,000–$5,000, depending on the size and complexity of your business. -
Do accountants in Canada charge hourly rates?
Yes. Hourly rates range from $150–$400+ per hour, based on experience and the complexity of the work. -
Is it cheaper to hire an accountant in smaller cities than in Toronto or Vancouver?
Generally yes — fees are usually higher in major urban centers like Vancouver compared to smaller towns. -
What’s the minimum I should expect to pay for basic bookkeeping?
Basic bookkeeping can start from $200/month, but small businesses usually pay between $450–$800/month. -
Do accountants offer fixed-rate monthly plans?
Yes. Some firms offer flat monthly rates starting from $585/month, giving cost predictability. -
What factors increase accounting costs the most?
Business complexity, service scope (e.g., tax planning vs. simple bookkeeping), and the accountant’s qualifications. -
Can I reduce accounting costs by using software like QuickBooks or FreshBooks?
Absolutely. Accounting software helps with basic tasks and reduces the time your accountant spends on records. -
Is outsourcing accounting more cost-effective than hiring an in-house accountant?
For most small businesses, yes. Outsourcing provides expertise without the overhead of a full-time salary.
Factors Influencing Accounting Costs in Canada
Several factors can influence the cost of accounting services:
- Business Size and Complexity: Larger businesses with more complex financial activities typically incur higher accounting fees.
- Service Scope: Basic bookkeeping services are less expensive than comprehensive packages that include tax planning, financial analysis, and consulting.
- Frequency of Services: Regular monthly services may cost more than quarterly or annual services but can provide more timely financial insights.
- Location: Accounting fees can vary by region. For instance, services in major cities like Toronto or Vancouver may be priced higher than in smaller towns.
- Experience and Qualifications: Accountants with specialized certifications or extensive experience may charge higher rates.
Hourly Rates vs. Flat Fees: What to Expect
Accountants in Canada may charge either hourly rates or flat fees:
- Hourly Rates: These can range from $150 to $400 per hour, depending on the accountant’s experience and the complexity of the work.
- Flat Fees: For specific services like tax preparation, accountants may offer flat fees. For example, corporate tax return services may start at $745.
Choosing between hourly rates and flat fees depends on the predictability of your accounting needs and your preference for cost certainty.
Our other financial services:
- Financial Service BC
- Business Valuation Services BC
- Business Plan Writing Services BC
- Financial Planning Services
- Financial Due Diligence Services
Cost-Saving Tips for Small Business Accounting
To manage accounting costs effectively:
- Utilize Accounting Software: Tools like QuickBooks or FreshBooks can handle basic bookkeeping tasks, reducing the need for extensive professional services.
- Bundle Services: Some accounting firms offer packages that combine multiple services at a discounted rate.
- Regular Financial Reviews: Keeping your financial records organized can reduce the time an accountant spends on your books, lowering costs.
- Outsource Strategically: Consider outsourcing only complex tasks while handling simpler ones in-house.
- Negotiate Rates: Don’t hesitate to discuss fees with your accountant to find a mutually agreeable arrangement.
Other regions where our tax services are available
- Tax Accounting service in Alberta
- Tax Accounting service in Port moody
- Tax Accounting service in Vancouver
- Tax Accounting service in Calgary
- Personal tax return in Vancouver
- Corporation Tax Return in Vancouver
- Payroll services in Calgary