There is no standard rate for bookkeeping in Ontario. Freelancers often charge by the hour, while firms usually quote a fixed monthly fee for an agreed scope. A fixed fee is easier to budget, as long as you know exactly what it covers.
What drives the price
- Transaction volume: the number of bank and card transactions to code and reconcile each month.
- Number of accounts: each bank account, credit card or payment platform adds reconciliation work.
- Sales tax: whether GST/HST returns are included, and how often you file.
- Payroll: the number of employees, how often they are paid and the year-end slips.
- The state of your records: books that are behind need catch-up work before the monthly service starts.
- Reporting: a basic monthly profit and loss statement and balance sheet, or budgets, forecasts and management calls.
Questions to ask before you sign
- Is the accounting software subscription included?
- Is GST/HST filing included, or billed per return?
- What happens when you go over the transaction limit?
- Who prepares the corporate tax return, and is it extra?
- How long is the commitment, and how do you end it?
- Where are your records kept, and will you still have them for the six years the CRA generally requires?
BMD Legacy’s prices for Ontario businesses
| Package | Monthly fee | Total with 5% administration fee | Main limits |
|---|---|---|---|
| Starter | CAD$349 | CAD$366.45 | Up to 75 transactions; 1 bank + 1 credit-card account; annual financial review |
| Growth | CAD$549 | CAD$576.45 | Up to 200 transactions; up to 3 bank or card accounts; quarterly review and management call |
| Scale | CAD$899 | CAD$943.95 | Up to 400 transactions; up to 5 bank or card accounts; monthly review and call |
Every package includes an eligible QuickBooks Online subscription, bank and credit-card reconciliations, standard GST/HST returns at your assigned frequency, and a monthly profit and loss statement and balance sheet. Prices exclude applicable taxes. Online subscriptions have a 12-month term, billed monthly. Payroll, T2 corporate returns and historical clean-up are quoted separately.
Is a monthly service worth it?
For many owner-managed businesses, the value is in what does not happen: a missed GST/HST deadline, a rushed year-end, or decisions made without current numbers. If your books take you more than a few hours a month, or you are often behind, compare a fixed monthly scope with the value of your own time.
Official sources
Reviewed by the BMD Legacy Canada team on 14 October 2026. Update of 14 October 2026: official sources added.
Prices as published on bmdlegacy.com on 13 October 2026. See bookkeeping, QuickBooks and HST in Ontario for the full package details.