Bookkeeping Services for Canadian Small Businesses
Monthly books for Ontario and BC businesses, reconciled, GST/HST-ready and closed on the same date every month.
Bookkeeping overview
Good bookkeeping in Canada means more than a tidy ledger. HST, or GST and PST, has to be coded correctly as you go, input tax credits need invoices that hold up if the CRA asks, and payroll remittances have to agree with what the CRA says you owe. Getting that right each month takes far less time than fixing it in April.
HOF Partners is a virtual bookkeeper for incorporated businesses and sole proprietors in Toronto, Mississauga and the GTA, and in Vancouver and across British Columbia. We work remotely from Dubai in QuickBooks Online or Xero, so you can see your books at any time, and your accountant receives clean files at year end instead of a box of receipts.
After a free consultation we review your records, fix the chart of accounts and connect your bank, card and payment accounts. Each month you upload receipts and bills as they arrive; we post, reconcile and close on an agreed date and send a short report with any questions we need answered. Your GST/HST figures are ready well before each return is due.
Prefer to talk it through first? Call +971 54 542 4854 or email info@hof-partners.com.
What your monthly close includes
- Transaction posting
- Sales, bills, expenses and bank activity coded to a chart of accounts that suits your business and your province's sales taxes.
- Monthly reconciliations
- Bank, credit card, loan and payment-platform balances matched to statements, with differences traced and corrected.
- Receivables and payables
- Aged lists of who owes you and whom you owe, kept current so you know what cash is coming in and going out.
- Payroll entries
- Payroll journals posted from your provider, and source deduction balances checked against the CRA's PD7A statement.
- Monthly reports
- Profit and loss, balance sheet and cash position after every close, with a short note on anything unusual.
- Year-end package
- Adjusted trial balance and reconciliations handed to your accountant for the financial statements and your T2 or T1.
Your books close on time every month, and year end stops being a scramble.
Questions about Bookkeeping
Yes. Your books live in your own QuickBooks Online or Xero file, under your business's subscription, and we work inside it remotely. You own the file, keep full access to every entry and can add your accountant as a user at any time.
No. We prepare the figures and the GST/HST working papers, and your business or your accountant files with the CRA. For a corporation, we hand the year-end package to your accountant, who prepares and files the T2.
Yes, as long as the business keeps its books in QuickBooks Online or Xero. We set up the tax codes for your province, whether that means HST, GST on its own, or GST with a separate provincial sales tax.
Access to your accounting software and bank feeds, and the receipts, bills and sales records that are not already in the software. Receipts can be photographed in Dext or Hubdoc or forwarded to a shared inbox. We gather anything missing into one list rather than one email at a time.
Every engagement is quoted after the free consultation, based on your transaction volume, the number of bank accounts and entities, and whether payroll is included. You receive a written proposal with a fixed scope before any work begins.
More ways we can help
All services- Bookkeeping for CPA FirmsWhite-label bookkeeping and GST/HST working papers for Canadian CPA firms, done in your files under your procedures.
- GST/HST BookkeepingGST, HST and PST coded as you trade, input tax credits supported, and every return prepared for you to approve.
- QuickBooks & XeroCanadian QuickBooks Online and Xero files set up for your province's sales taxes, kept current and reconciled every month.
Talk to us about your bookkeeping
Tell us what you need. Your message goes straight to our accountants, and we aim to reply within one business day.