Bookkeeping costs in Quebec: how much and when is a bookkeeper sufficient?

In short: bookkeeping is the most common and generally the most affordable accounting service. Its price depends primarily on your transaction volume and the frequency of tracking. It often serves as the foundation upon which tax returns and advice are added as needed.

Before discussing taxation or planning, there's bookkeeping: recording your transactions, tracking VAT, and keeping your accounts in order. This is the foundation, and it's often the first accounting expense for an entrepreneur.

What bookkeeping includes

Good bookkeeping is generally:

• recording your sales, purchases and expenses;
• the reconciliation of your bank accounts and cards;
• VAT monitoring and declarations;
• regular reports to keep you informed of your progress.

What is not always included: the preparation of year-end accounts, corporate tax, tax advice. Hence the importance of asking, from the outset, what is included and what is not .

What makes the price vary?

Bookkeeping services are often billed based on volume and frequency. A few transactions per month don't require the same amount of time as hundreds of invoices and multiple payrolls. The main factors are:

• the number of transactions per month;
• the frequency of monitoring (monthly, quarterly);
• the number of accounts to be reconciled;
• the state of your files : catching up on several months' worth of work costs more than regular monitoring.

Keeping your accounts up to date is therefore also a way to pay less.

Bookkeeper or accountant: do you need both?

Not always at the same time. For bookkeeping, a competent accountant does the job perfectly well, often at a lower cost. For preparing financial statements, corporate taxes, or planning, you'll need an accountant, and a CPA in cases requiring certification.

Many entrepreneurs combine regular bookkeeping with an accountant for year-end closing and consulting. The important thing is that the two communicate and work on up-to-date files.

Where does accounting fit within the accounting budget?

Accounting is generally the most accessible part of your accounting budget. To put things in perspective, an accountant for a small or medium-sized enterprise (SME) in Quebec costs on median around $2,000 per year, all services included, ranging from $500 to $6,000 depending on the sector. Details are available in the Bankeo Barometer . Your actual price will be tailored directly to the professional.

How to find the right person?

Whether you're looking for an accountant, a bookkeeper, or both, the goal is the same: to find someone reliable, insured, and suited to your specific needs. That's what Bankeo does for you, free of charge: we verify the essentials (insurance, professional registration for CPAs, legitimate business, reviews, industry, see the Bankeo index ) and present you with the right person for your requirements.

Looking for well-maintained bookkeeping at the right price? Find the right person, for free.

In summary

• Bookkeeping is the foundation: recording, reconciling, and tracking GST and QST. It's often the most affordable position.
• Its price depends on the volume, frequency and condition of your files.
• One accountant is sufficient for day-to-day operations; another is added for year-end closing and advisory services. The result: the Bankeo Barometer .