Annual Return Filing Services for Ontario Corporations
Federal & Provincial Registry Filings • Deadline Tracking • Good Standing Maintenance
Annual return filing in Ontario keeps your corporation in good standing with the corporate registry—whether you’re incorporated federally through Corporations Canada or provincially under the Ontario Business Corporations Act. The Acctax Company handles corporate annual return filings for federal and Ontario corporations, tracking deadlines, preparing required information, and coordinating filings so you never face administrative dissolution.
Miss your annual return and your corporation risks being struck off the registry. Two consecutive missed filings, and Corporations Canada or the Ontario Business Registry can dissolve your company—ending its legal existence. We make sure that doesn’t happen.
Monthly Bookkeeping Services in Ontario
Monthly bookkeeping keeps your Ontario business financially organized—every transaction categorized, every account reconciled, and every month closed with accurate reports.
The Acctax Company delivers fixed-fee monthly bookkeeping services that provide clean books for CRA compliance, clear financial statements for decision-making, and full visibility into your cash flow without the typical year-end scramble.
Whether you are running a trades business in Kitchener, a professional practice in Waterloo, or an eCommerce operation shipping across Ontario—your books need monthly attention. Skip a few months and you are doing catch-up. Miss CRA deadlines and you are paying penalties. We make sure neither happens.
What Does Monthly Bookkeeping Include?
Monthly bookkeeping is the systematic recording, categorizing, and reconciling of your financial data. It satisfies CRA record-keeping requirements while giving you visibility into your true business performance.
Transaction Recording
- All income and expense transactions entered into accounting software
- Assignment to correct accounts in your Chart of Accounts
- Vendor and customer record maintenance for A/P and A/R
- Linking receipts and source documents to transactions
Bank & Credit Reconciliation
- Bank accounts reconciled against General Ledger balances
- Credit card statements matched to recorded spending
- Discrepancy identification and swift resolution
- Tracking outstanding cheques and deposits in transit
Accounts Receivable (A/R)
- Customer invoice tracking from issuance to payment
- Aging reports identifying overdue payments
- Collections support (identification and reporting)
- Bad debt identification and write-off advice
Accounts Payable (A/P)
- Vendor bills recorded and tracked to payment dates
- Aging reports showing upcoming financial obligations
- Payment scheduling for better cash flow management
- Duplicate payment prevention and vendor credits
Month-End Close
- Final review of all monthly transactions
- Recording adjusting entries (accruals, depreciation)
- Closing books to lock in monthly performance data
- Trial balance preparation and audit-readiness
Financial Statements
- Profit and Loss Statement (Income Statement)
- Balance Sheet (Assets, Liabilities, Equity)
- Cash Flow Statement (available upon request)
- Comparative reports (Month-over-month, YoY)
Monthly Bookkeeping Checklist for Ontario Businesses
A structured breakdown of the essential tasks required to maintain clean corporate records and ensure CRA compliance.
Weekly Tasks
Month-End Tasks
The Month-End Close: Why It Matters
Month-end close isn’t data entry—it’s quality control. Closing the books each month catches errors before they compound and prevents the tax-season scramble that happens when 12 months of transactions need untangling at once.
Transaction Review
Every recorded entry is reviewed for accuracy. Miscategorized expenses are corrected, and missing transactions are identified via bank reconciliation.
Variance Analysis
Revenue and expenses are compared to prior months and budgets. Unusual variances are investigated and resolved before becoming audit issues.
Adjusting Entries
Accruals for unbilled expenses, allocation of prepaid costs, and depreciation for fixed assets are recorded to reflect true performance.
Period Lock
The month is “closed” in the accounting software, preventing accidental historical changes and creating a clean audit trail.
Benefits of Consistent Month-End Close
CRA and Ontario Compliance Built Into Your Books
Monthly bookkeeping isn’t just about tracking money—it’s about building an audit-defensible paper trail that satisfies federal and provincial regulators from day one.
CRA Record-Keeping Requirements
CRA mandates that businesses retain all supporting documents reported on tax returns. We organize these records digitally every month.
- Sales invoices & contracts
- Vendor invoices & receipts
- Bank & credit statements
- Payroll & T4 records
- General Ledger reports
- GST/HST calculations
GST/HST Compliance (Ontario)
| Filing Frequency | Threshold (Sales) |
|---|---|
| Monthly | > $6 Million |
| Quarterly | $1.5M – $6M |
| Annually | < $1.5M |
Payroll Source Deductions
| Remitter Type | Due Date |
|---|---|
| Regular | 15th of following month |
| Quarterly | 15th after quarter end |
| Accelerated | Up to 4x per month |
WSIB Premium Reporting
| Annual Premium | Reporting Frequency |
|---|---|
| < $1,000 | Annual |
| $1,000 – $20,000 | Quarterly |
| > $20,000 | Monthly |
Employer Health Tax (EHT)
Ontario employers with annual payroll exceeding $1 million are subject to EHT. Smaller businesses are typically exempt.
Monthly Bookkeeping Packages and Pricing
Transparent, fixed-fee pricing designed for Ontario small businesses.
| What Affects Your Pricing | Impact on Monthly Scope |
|---|---|
| Transaction Volume | Directly correlates to categorization and reconciliation time. |
| Account Complexity | Each bank, credit card, or loan account requires separate verification. |
| A/R & A/P Management | Tracking individual customer invoices and vendor bills increases administrative work. |
| Payroll Integration | Reconciling payroll entries and remittances adds significant compliance steps. |
Essential
Best for simple service operations.
- Transaction categorization
- Bank reconciliation (Up to 2 accounts)
- Monthly P&L Statement
- Balance Sheet preparation
- Email support
Growth
Best for businesses with active A/R and A/P.
- Everything in Essential
- A/R and A/P tracking
- Aging reports (Who owes you)
- Up to 4 bank/credit accounts
- Quarterly strategy review
Full-Service
Complete back-office support.
- Everything in Growth
- Payroll reconciliation
- GST/HST return preparation
- Inventory tracking (if applicable)
- Priority phone & Zoom support
Behind on your books?
We specialize in “Catch-Up” bookkeeping. We quote historical cleanups separately based on the months of backlog and the state of your documentation. Typical cleanups range from $500 to $2,500. Once your records are current, we transition you to a predictable monthly plan.
Managing Cash Flow and Protecting Financial Health
Accurate monthly books aren’t just about compliance—they’re how you defend your business against insolvency.
Cash Flow Visibility
Stop guessing at your bank balance. Monthly bookkeeping tracks exactly what is coming in and going out:
- Customer payments received vs. invoices outstanding
- Vendor bills due vs. actual cash available
- Seasonal patterns in revenue and overhead
- Cash reserves vs. upcoming tax obligations
The Risk: Without monthly visibility, payroll gets tight, checks bounce, and growth opportunities are missed because you’re blind to your true position.
Prevent HST and Payroll Surprises
HST collected and payroll deductions aren’t your money—they belong to the Crown. We help you manage these liabilities:
- HST Protection: We calculate GST/HST collected vs. ITCs monthly so you know exactly what to set aside.
- Payroll Remittances: We reconcile withholdings monthly to ensure you never miss a remittance deadline.
Decision-Making with Clean Numbers
When your books are accurate every month, you stop making decisions on “gut feel” and start using data:
Verify profit margins before adding salary.
Confirm cash position before financing.
Analyze job costing for specific contracts.
Present clean financials to get approved.
Cloud Accounting Software We Work With
QuickBooks Online
Best for: Most Ontario SMBs. Features strong Canadian payroll integration and direct CRA e-filing connections.
Xero
Best for: Agencies and startups needing unlimited users, multi-currency support, and a clean interface.
Sage
Best for: Established businesses in construction and trades requiring advanced job costing and inventory tools.
Wave
Best for: Sole proprietors and freelancers with simple operations looking for a cost-effective starter solution.
How Our Monthly Bookkeeping Works
A structured onboarding and delivery process to move your records from backlog to breakthrough.
Onboarding Week 1
Catch-Up If Required
Monthly Cycle Ongoing
Year-End Handoff Finalization
Internal Handoff: Seamless Tax Preparation
If The Acctax Company also prepares your corporate tax filing, your year-end books transfer internally with zero friction. There is no need to send files to an external accountant—the team already has everything required for your T2 return.
Who Monthly Bookkeeping Is For
- Ontario small businesses with 50–500+ monthly transactions
- Service businesses, trades contractors, and professional practices
- eCommerce sellers needing payment processor reconciliation
- Businesses with growing teams and payroll obligations
- Companies needing monthly financials for lenders or investors
- Owners who want to offload bookkeeping to reclaim their time
Who It Might Not Be For
- Micro-operations with <20 transactions (might be overkill)
- Business owners wanting to learn and perform bookkeeping themselves
- Companies requiring a full-time, in-house on-site controller
Service Areas in Ontario
The Acctax Company delivers monthly bookkeeping services from our regional hubs while supporting the entire province digitally.
Ready to Start?
📞 +1 226-808-0302
Mon–Fri, 9:00 AM – 5:00 PM
Monthly Bookkeeping FAQs
Monthly bookkeeping includes recording financial transactions, reconciling bank and credit card accounts, managing accounts receivable and payable, and preparing month-end financial statements. Core deliverables are a reconciled general ledger, Profit and Loss Statement, Balance Sheet, and aging reports for A/R and A/P.
Monthly bookkeeping for Ontario small businesses typically ranges from $350–$1,000+ per month depending on transaction volume, number of accounts, and service scope. We offer fixed-fee packages so you know exactly what you're paying each month—no hourly surprises.
CRA requires businesses to keep all records and supporting documents for generally six years from the end of the last tax year to which they relate. This includes invoices, receipts, bank statements, payroll records, and financial statements. Organized monthly bookkeeping ensures these records exist and are accessible.
Monthly is the standard cadence for active small businesses. Weekly transaction entry with monthly reconciliation and close provides the right balance of timeliness and efficiency. Less frequent bookkeeping leads to catch-up projects and missed errors.
Bookkeeping records and organizes transactions. Accounting interprets them. Bookkeeping produces the general ledger and financial statements. Accounting uses those statements for tax filing, financial analysis, and business decisions. Most businesses need both—bookkeeping for ongoing maintenance, accounting for year-end and strategic work.
If you have regular transactions, CRA filing obligations, or need visibility into cash flow—yes. Monthly bookkeeping prevents the catch-up scramble, ensures GST/HST and payroll compliance, and gives you accurate numbers for decisions. The cost of monthly service is typically less than catch-up work plus penalties for missed deadlines.
We work with QuickBooks Online, Xero, Sage, and Wave. QuickBooks Online is most common for Ontario small businesses due to its Canadian payroll integration and CRA connections. We can work in your existing software or set up new accounts as part of onboarding.
Most clients are onboarded within 5–7 business days. If catch-up bookkeeping is needed, allow 2–6 weeks to bring books current before transitioning to monthly service. Urgent situations can be accommodated—contact us to discuss.
