Accountant for marketing and communications

Communication agencies, creative studios, digital marketing firms, public relations firms, and freelancers in Quebec operate on a project-by-project basis: hourly rates, monthly retainer fees, one-off campaigns, and requests for proposals. Between freelancers to pay each month, media buys to front for clients, and project revenue spread out over several quarters, the real profit margin hinges on project-based accounting: without tracking hours and costs per project, you’ll discover too late that a campaign was delivered at a loss.

Find the ideal accountant for your industry, one who understands agencies and studios: profitability by project, T4A forms for freelancers, GST/QST on fees and disbursements, and determining the right time to incorporate. We’ll introduce you to the right accountant for this industry, as many times as needed, and we’ll stay by your side. No obligation.

• Profitability per project: Between unpaid pitches and rounds of revisions, the effective hourly rate can drop quickly; it must be calculated on a client-by-client basis.
• Freelancers and contractors: A contractor treated as an employee may be reclassified by the CRA and Revenu Québec (retroactive source deductions, penalties); their status must be properly documented.
• Revenue from phased projects, including down payments, milestone payments, and final retainages, requires tracking work in progress to determine the actual performance for the month.
• Media purchases and advances paid on behalf of clients: large cash outflows before reimbursement, which put a strain on cash flow.
• Payment terms of 45 to 90 days for large clients, while freelancers, platforms, and software subscriptions are billed monthly.
• Reaching the $30,000 small supplier threshold in just a few projects: GST/QST registration comes quickly for a freelancer or a young studio.
• Effective Date: The SBD reduces taxes on the first $500,000 of business income, but in Quebec, the 5,500-hour paid work requirement may be difficult for small teams to meet.

• Registration for GST (5%) and QST (9.975%) and collection of these taxes on fees once taxable revenue exceeds $30,000 over four calendar quarters.
• T4A forms (box 048) for fees paid to freelancers and unincorporated subcontractors.
• Federal and Quebec source deductions (DAS) from team salaries: income tax, QPP, QPIP, employment insurance, HSF, and CNESST.
• T2 (federal) and CO-17 (Quebec) returns for corporations; Form T2125 and TP-1 return for self-employed individuals.
• Rigorous processing of disbursements and re-invoiced media purchases: determining whether taxes are collectible based on the nature of the expense and the contract.
• Tax instalments and GST/QST remittances according to the assigned frequency (monthly, quarterly, or annually).
• Perform project-based bookkeeping and retain supporting documents for six years.

How can I pay my freelancers without incurring tax liability? Ensure each freelancer is covered by a clear contract and the correct employment status: a freelancer treated as an employee may be reclassified by the CRA and Revenu Québec, with retroactive source deductions. Your accountant prepares T4A slips (box 048) for fees and ensures they’re tax-deductible. We’ll connect you with the right accountant for this industry, as often as you need, at no cost.

How can you tell if a client account is profitable? By tracking, project by project, revenue, hours worked, and the costs of freelancers and production. Many agencies find that their actual hourly rate falls well below their advertised rate due to revisions and unbilled pitches. Your accountant will set up this client-by-client profitability dashboard.

How much does an accountant cost in this sector? According to the Bankeo Fee BarometerBased on 1,248 real-world cases (2024-2026), the median cost for this sector is around $1,500 per year. The cost varies depending on whether you are a corporation or a self-employed individual, as well as the volume and complexity of your work. Bankeo’s matching service is free: you pay your accountant directly.

How can I switch accountants for my agency without causing any disruptions? We’ll handle it with you, seamlessly. Your new accountant will take over your files, financial statements, and project tracking from your previous accountant, without interrupting your billing or GST/QST remittances. Bankeo matches you with the right accountant for free, and we’ll stay by your side, even if you need to switch again in six months.

On-site or remote accountant for a studio or agency? Both work very well. What matters is that they understand project-based accounting, T4A forms for freelancers, and GST/QST on your disbursements, not how far they are from your office. A well-equipped remote accountant can manage your projects just as thoroughly as a neighbour next door; we’ll match you with the one who best fits your situation, no matter where they’re located.

Do I need to charge taxes on media purchases that I pay upfront for my clients? It depends on the nature of the expense and how it’s re-billed: a media purchase made on your behalf is often part of your taxable fee, whereas an actual expense paid on the client’s behalf follows different rules. A good accountant distinguishes between what is taxable and what isn’t, to help you avoid GST/QST errors. We’ll connect you for free with an accountant who understands the agency business.