James AllenAs someone whose parents used to manage a small business, I don’t envy the paperwork they dealt with to make sure the business’ finances were in order.
Thankfully, those days are long gone for many small business owners because of bookkeepers. They can work as an outsourced employee and keep your financial records in order at a fraction of the cost of hiring a full-time bookkeeper on staff.
We found some whom business owners trust!
| How much do bookkeeping services cost in Toronto? Most external bookkeeping service providers in Toronto charge $1,250 per month for their services. Keep in mind that your cost can vary based on factors such as the size of your company and the scope of the services you need. |
How We Chose
1. Zetique Inc.
Address: 70 Alexander St
Business hours: 9:00 AM – 5:00 PM (MON-FRI)
Zetique Inc. was founded in 2016 by Jayne and Hassan after experiencing steady growth in clients while working as freelance bookkeepers. Purely relying on word-of-mouth alone, they’ve grown to become one of the better-known bookkeeping service providers in Toronto.
It’s not hard to see why they’ve become a favourite among the city’s small businesses. Their full-cycle bookkeeping service already includes monthly finance streamlining, payroll management, Harmonized Sales Tax (HST) filing, and year-end financial reports.
And if you think you need some help managing your business’ finances better, you’ll probably want to take advantage of their personalised consultation and financial empowerment sessions that cover topics like bucket budgeting and financial accountability.
However, it should be mentioned that, as a boutique firm, their availability might be limited during peak seasons or holidays.
Pros
- 8 years of experience
- Offers full-cycle bookkeeping
- Offers personalised financial consultations
Cons
- Availability might be limited during peak seasons or holidays
- No phone number
I LOVE working with Zetique
“I LOVE working with Zetique. I have to say I hate accounting, but I love working with the Zetique team. They make things feel approachable and understandable when I am overwhelmed (which is 100% of the time!) They truly are the best to work with.”
-Emily Getz, Google Reviews
They are a dream team
“Jayne and the entire Zetique team are an absolute pleasure to work with. I have been working with them now for over 3 years and I could not be happier with the work they do. They are detailed, on time and respond very quickly to my questions/requests. They are a dream team.”
-Jela Begonja, Google Reviews
2. Fix My Books Inc.
Address: 60 Atlantic Ave #200
Phone number: +1 416-323-6683
Business hours: 9:00 AM – 5:00 PM (MON-FRI)
Fix My Books Inc. is a fairly new bookkeeping company that has gained massive attention recently due to it winning the Certified Professional Bookkeepers of Canada’s Bookkeeping Excellence Awards for New Firms in 2023.
Founded by Arielle and Jason Smith in 2020, they’re an A2X-certified partner that specialises in e-commerce bookkeeping.
Having a specialisation in e-commerce is huge, as it means they’re highly competent when it comes to navigating the records and databases of platforms like Amazon, Shopify, and Etsy.
They can also teach and assist new business owners on how to set up their e-commerce businesses and track their online sales. The best part is that they can do all these things purely online, as they’re a fully virtual bookkeeping company!
Sadly, their rise to fame has also led to them becoming fully booked on most days of the year.
Pros
- Winner of the Certified Professional Bookkeepers of Canada’s Bookkeeping Excellence Awards for New Firms in 2023
- Specialises in e-commerce bookkeeping
- Can help clients set up their e-commerce businesses
- Offers fully virtual bookkeeping services
Cons
- Tends to get fully booked quickly
- Fairly new in the industry
They’re on top of all of my bookkeeping and tax related matters
“I have been a customer with Fix My Books for over a year. Arielle, Jason and team are highly knowledgeable, extremely responsive, detail oriented and they help ensure that I get a good night’s sleep because I know they’re on top of all of my bookkeeping and tax related matters. Thanks Jason & Arielle!”
-Chris C, Google Reviews
To say they are amazing would be an understatement
“We have been working with Arielle and the Fix My Books team for the past 2 years, and to say they are amazing would be an understatement. Their professionalism, ample knowledge, willingness to go above and beyond to make us feel comfortable, and the drive to set our business up for success has been immeasurable. I couldn’t recommend Arielle and the Fix My Books team enough!”
-Nilab Jafarzadeh, Google Reviews
3. Virtuous Bookkeeping
Address: 5399 Eglinton Ave W #212B, Etobicoke
Phone number: +1 888-807-5009
Business hours: 9:00 AM – 6:30 PM (MON-FRI)
Founded in 2010, Virtuous Bookkeeping is a well-known online bookkeeping company that can cater to clients in almost any city in Canada, from Toronto to Vancouver.
They have an excellent list of bookkeeping services on offer, including things like corporate tax returns, payroll processing, and invoice management. These are offered in flexible price options, ensuring that you’ll only have to pay for services that you actually need!
Furthermore, if you’re unsure which services to avail, their team will gladly assist you in creating a bundle that’s specific to your industry or profession, including writers like me.
The cherry on top is every client they serve has 24/7 virtual support, so you can access your financial information anytime you want.
However, that unprecedented level of access is only made possible due to the fact that they store data in the cloud, where data breaches and hacks can occur.
Pros
- 14 years of experience
- Offers customised service bundles
- 24/7 virtual support
- No hidden setup fees
Cons
- Stores data in the cloud, where data breaches may occur
They are extremely easy to work with
“As an owner of a small business I have found Virtuous Bookkeeping an amazing Company. From the employees (especially Amit) to all aspects of keeping my records organized, it is first class. They are extremely easy to work with, and are quick to respond to any request or question I have. Everything is done on time, and this is a relief because I can go on running the other important parts of the business. I highly recommend them to anyone who doesn’t want the pressure of bookkeeping.”
-Cynthia Herbst, Google Reviews
Everyone on the Virtuous team is courteous, professional and very responsive
“Everyone on the Virtuous team is courteous, professional and very responsive. We have been working with Virtuous since 2019 and they have helped us to overcome many bookkeeping challenges as well as found several efficiencies.”
-Amanda Bradley, Google Reviews
4. BBS Accounting CPA
Address: 99 Yorkville Ave Suite 200
Phone number: +1 416-697-6478
Business hours: 9:00 AM – 5:00 PM (MON-FRI)
If you’re unsure which bookkeeping company to work with, BBS Accounting CPA might be worth a try. Founded in 2005, they offer a wide range of bookkeeping services that you can get for free in the first month!
Some of those services include day-to-day bookkeeping tasks, payroll services, and tax preparation. What’s amazing is that these services are bundled into tiered packages, so you only need to pay for services that you really need.
If you’re curious as to what bookkeeping platforms they use, they are skilled in using the most popular ones like Quickbooks, Xero, and FreshBooks.
You can learn more about their services and specialties by asking them for a free initial consultation session.
However, it should be noted that they primarily focus on serving small businesses and freelancers and may not be able to assist medium-sized businesses and niche industries.
Pros
- 19 years of experience
- Offers tiered bookkeeping service packages
- First month is free for new clients
- Offers free initial consultations
Cons
- Caters to small businesses and freelancers only
- Sometimes takes days to respond to enquiries and concerns
Their expertise in financial management and tax planning is invaluable
“BBS Accounting Ltd is a reputable accounting firm that provides exceptional services to small businesses. Their expertise in financial management and tax planning is invaluable, offering valuable advice tailored to each client’s unique needs. One of the standout features of BBS Accounting is their convenient monthly billing plan, which allows businesses to budget effectively and avoid unexpected lump-sum payments.
The firm’s commitment to prompt follow-ups and timely tax filing is commendable, ensuring that clients remain compliant and avoid penalties. Their team of knowledgeable professionals stays up-to-date with the latest tax regulations, providing peace of mind to business owners who can focus on growing their operations.
Overall, BBS Accounting Ltd is a trusted partner for small businesses seeking comprehensive accounting solutions, valuable guidance, and a seamless experience”
-Vivek Chandra, Google Reviews
Extremely valuable for any business owner
“We’ve been customers of BBS for about 4 years now. They are always available to answer questions we have about our finances and taxes, and always on time with completing our books, year ends, payroll taxes, and more. Extremely valuable for any business owner and also affordable. Have recommended BBS to many of our friend’s seeking accounting help.”
-Ruru Baked, Google Reviews
5. Apex Accounting
Address: 230 Sackville St
Phone number: +1 647-979-7728
Business hours: 9:00 AM – 5:00 PM (MON-FRI)
Apex Accounting can serve as an excellent bookkeeping partner for your company, as they have more than a decade of experience in the industry. They can work with a wide range of industries, but their specialty is working with those in the dental and healthcare industries.
A couple of services they offer are basic bookkeeping, payroll services, tax filing, and past account cleanups. While these already form an impressive list of services, it’s worth noting that they can also assist aspiring entrepreneurs in starting new companies through their business planning service.
What’s amazing is that this service isn’t limited to planning out your dream business; it can also assist you with other stuff that comes with starting a new business, like company registration and financing.
Sadly, their team is quite small and can only accept a limited number of clients at a time.
Pros
- More than 10 years of experience
- Specialises in the dental and healthcare industries
- Offers business planning services
- Can assist with registration and securing financing for new businesses
Cons
- Limited availability due to small team size
- Can’t be contacted on weekends
Very professional and detail oriented!
“Great for personal and corporate tax Service. Very professional and detail oriented!!! Highly recommended to anyone looking for a bookkeeping and tax Professional.”
-Arjun Rijal, Google Reviews
Apex Accounting is a very reliable and efficient bookkeeper in Toronto
“Apex Accounting is a very reliable and efficient bookkeeper in Toronto. They are very professional and responsible. Being a sole practitioner of MPCPA Professional Corporation, a CPA firm, I frequently assign our overloaded bookkeeping jobs to Apex Accounting and am always satisfied with their performance. Also I referred Apex Accounting to the other CPA friends.”
-Madan Pokharel, Google Reviews
