How to find the right accountant for your business

Do you really need an accountant?

You need an accountant as soon as taxes or paperwork start costing you time, money, or sleep. Typical signs include: your first VAT invoices, hiring an employee, incorporating a business, delays in bookkeeping, or filing your first company tax return. A good accountant often recoups their fees through deductions and penalties avoided.

Not all entrepreneurs start from the same point. A self-employed individual just starting out can manage their books alone for a while, but certain triggers make professional help almost essential:

• If you exceed the $30,000 sales threshold over four consecutive quarters: you must register for VAT, charge taxes and remit them.
• You are incorporating your business : a public limited company produces a separate return (T2 at the federal level, CO-17 in Quebec).
• You are recruiting : you need to manage source deductions (DAS), produce statements and meet deadlines.
• You are falling behind : bookkeeping in arrears, pile of receipts, past tax returns due.
• You want to pay the right tax : deductions, advance payments and trade-offs (salary or dividend).

Good to know: hiring an accountant isn't a luxury, it's an investment. The time you spend struggling with a spreadsheet is time you're not spending selling.

What are the different types of accounting professionals?

In Quebec, you'll primarily encounter three profiles: the accountant (who records daily transactions), the bookkeeper (who prepares financial statements and tax returns), and the CPA, a chartered accountant who is a member of the Quebec CPA Order and authorized to perform the most specialized engagements. The tax specialist, on the other hand, specializes in tax optimization.

• Bookkeeper: enters transactions, reconciles accounts, prepares GST/QST reports. For monthly accounting and day-to-day monitoring.
• Accountant: prepares financial statements, T1/TP1 and T2/CO-17 returns, and provides advice. For year-end, prepares returns and provides management advice.
• CPA: Accountant and member of the Order, authorized to sign off on regulated engagements (compilation, review, audit). This includes financial statements for banks, audits, and regulated situations.
• Tax specialist: advanced tax planning and optimization. For reorganizations, company sales, and complex tax situations.

Many businesses combine different profiles: an accountant for day-to-day operations and an accountant or CPA for year-end closing and tax returns. The right mix depends on your volume and complexity.

Bankeo is not a firm: be matched with an accountant suited to your needs, whether it is for routine bookkeeping or a more structured assignment.

What criteria should you use to choose your accountant?

Choose your accountant based on five criteria: experience in your sector, the range of services offered, the pricing method (flat fee or hourly rate), availability and quality of communication, and finally, rapport. The cheapest option isn't always the best: what matters is the alignment between your actual needs and their expertise.

• Experience your reality. An accountant familiar with your industry anticipates your challenges and deductions. Ask them if they already serve clients like you.
• The range of services. Just taxes, or also bookkeeping, payroll, taxes and advice? A professional who covers everything saves you the hassle of juggling.
• Pricing. Flat fee, annual contract, or hourly rate: understand what's included. A clear quote is better than a low price with vague terms.
• Availability and communication skills. Does he/she respond quickly and clearly, without jargon? You will be working with this person all year round.
• The current. You will be entrusting it with sensitive information. Trust is just as important as technical competence.

Good to know: don't choose based solely on price. An accountant who misses a deduction or a deadline will cost you far more than a few hundred dollars difference in fees.

Pour situer le marché, le Baromètre Bankeo indique une médiane d'environ 3 000 $ par année de services comptables, dans une fourchette de 500 $ à 6 000 $ selon le secteur.

What questions should you ask an accountant before hiring them?

Before hiring them, ask specific questions : Do you have clients in my sector? How do your fees work and what's included? Who will be my point of contact? What software do you use? How often will I hear from you? The answers reveal as much about expertise as they do about transparency and the quality of the future relationship.

1. Do you have any experience with companies like mine? Sector, size, stage.
2. How do you bill and what is included? Flat rate, hourly rate, annual mandate; declarations, taxes and bookkeeping included or extra.
3. Who will be my point of contact on a daily basis? The professional himself or a team.
4. What accounting software do you use? Compatibility, online access, document sharing.
5. How often will I hear from you? Monthly, quarterly follow-up; deadline reminders.
6. How do you manage tax and tax deadlines? VAT, DAS and advance payment deadlines.
7. What happens if the tax authorities contact me? Support in case of a request for information or an audit.

The right answers are clear, straightforward, and free of unnecessary jargon. A professional who takes the time to explain things simply is generally the one with whom you'll have the healthiest relationship.

Online accountant or local accountant: which to choose?

A local accountant offers reassurance through their proximity and knowledge of the regional business landscape; an online accountant provides flexibility, cloud tools, and often greater availability. In Quebec, knowledge of CRA and Canada Revenue Agency rules matters more than address. The right choice depends on your work style, not on any absolute rule.

• Local accountant: face-to-face meetings, regional presence, paper delivery possible. Ideal for those who want close, personal contact.
• Online accounting: remote exchanges throughout France, often more flexible, all in the cloud. Ideal for those comfortable with digital technology.

In practice, the line is blurring: many local accountants work in the cloud, and many remote professionals offer regular video calls. What remains constant is the requirement to master the Quebec and federal tax frameworks.

How can you verify that an accountant is reliable?

To verify an accountant's reliability, confirm their designation with the Quebec CPA Order if they present themselves as a CPA, ask for references or client testimonials, and ensure they have professional liability insurance. A reputable professional will clearly explain their services, provide a written breakdown of their fees, and demonstrate their experience.

• The title. If the professional presents themselves as a CPA, confirm their registration with the Quebec CPA Order .
• References and reviews. Ask to speak to one or two clients, or check online reviews.
• Liability insurance. It protects against errors. A well-structured firm has it.
• The offer is clear. Fees are stated in writing, services are detailed, and deadlines are explained.

Good to know: be wary of abnormally low prices, refusals to put anything in writing, or promises of "guaranteed" tax refunds. Taxation doesn't work on guarantees.

Avec Bankeo, les comptables du réseau sont vérifiés avant d'être présentés : c'est une étape de moins à faire de votre côté. Le réseau compte 1 500+ comptables, et le service affiche 4,7/5 sur 180+ avis Google.

How to find an accountant for a self-employed individual or an NGO?

A self-employed individual is looking for an accountant comfortable with T1/TP1 tax returns, deductible expenses, VAT, and provisional tax payments. A non-profit organization has distinct needs: liability towards members and donors, and specific tax filings for non-profits. In both cases, choose a professional who already understands your type of organization.

For the self-employed individual , the right accountant:

• Maximize legitimate deductible expenses, including home office and vehicle use.
• Manages VAT from the threshold of €30,000 reached and calculates provisional advance payments.
• Arbiter between income, contributions and personal planning (RRSP, etc.).

For the non-profit organization , the right accountant:

• Knows the accountability obligations to members, the board of directors and donors.
• Proficient in declarations specific to non-profit organizations.
• Able to present financial statements that are easy for volunteer administrators to understand.

The common mistake is to choose the closest or cheapest option without checking the model's experience. An accountant who already works with freelancers or NGOs will save you time from the very first meeting.

How to change accountants without breaking everything?

Changing accountants is simpler than it seems: you don't have to justify your decision. Gather your documents (financial statements, tax returns, general ledger, access to software), inform your former accountant in writing, and then hand everything over to your new one. The best time to do this is after the fiscal year has ended, once the tax returns have been filed.

1. Choose your new accountant first , so you're never left without coverage.
2. Gather your documents : latest financial statements, T2/CO-17 and T1/TP1 returns, general ledger, tax reports, access to software.
3. Inform the former accountant in writing , simply and politely. A request to transfer files is a common practice.
4. Pass the file on to the new professional , who will take over and verify continuity.

The ideal time is right after the year-end tax returns are filed: your file is up to date and the switch is clean. Avoid switching during the peak period for tax deadlines.

If the relationship breaks down, even months after your match, Bankeo will support you and help you find a suitable accountant, free of charge. We remain by your side.

How do I find the right accountant for my business?

Start with your actual needs (bookkeeping, taxes, payroll, consulting), compare a few profiles, check their experience in your sector, and ask the right questions before signing. Bankeo simplifies this process: we connect you with audited accountants free of charge, usually within 48 hours.

How much does an accountant cost for a small business?

Fees vary depending on the services provided, the volume of transactions, and the complexity of your case. Always ask for a clear quote that specifies what is included. The best indicator is not the lowest price, but the suitability of the offer to your needs.

Do I need a CPA or is an accountant sufficient?

For bookkeeping, tax returns, and routine advice, an experienced accountant is often sufficient. The CPA designation becomes necessary for structured engagements such as exams or audits required by banks or landlords. Choose based on your specific needs.

When is the right time to hire an accountant?

As soon as a trigger occurs—reaching the €30,000 tax threshold, incorporation, first hire, delay in your accounting, or first business tax return—the sooner you get your affairs in order, the lower your risk of penalties and the more deductions you can claim.

How long does it take to find an accountant with Bankeo?

The matching process takes an average of 48 hours. You fill out a short, free application, and Bankeo presents you with audited accountants who match your situation. It's free for the entrepreneur, with no obligation, and we remain by your side afterward.

What should I do if the paired accountant is not suitable for me?

You are under no obligation to continue. If things don't work out or your needs change, even months later, Bankeo will help you find a suitable accountant, free of charge. We'll support you for as long as necessary.