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At Tax Filings Canada, we handle every part of your accounts receivable bookkeeping, from the filing itself to the planning around it. Our accountants work with corporations and business owners every week, so you can focus on running and growing your business.
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Stay compliant and optimize your financial processes with our specialized accounts receivable bookkeeping services.
No hidden fees. Pay only after your service is completed. The fee is agreed before any work starts.
Yes — accounts receivable bookkeeping can be handled entirely online. Tax Filings Canada covers monthly reconciliations, GST/HST-ready ledgers and receipt capture for owner-managed businesses and growing teams at budget-friendly fixed fees, pay-after-service.
Hand over your documents once; we will tell you if anything is missing.
Preparation happens on our desk, not yours — including the accounts receivable bookkeeping details that are easy to overlook.
A review meeting or call walks you through the draft before you give the go-ahead.
After sign-off, we file, arrange any balance owing, and close the loop with you.
| Factor | Tax Filings Canada | Typical Firm |
|---|---|---|
| Pricing model | Fixed, flat fee | Hourly / unpredictable |
| Payment | Pay after service | Upfront retainer |
| Price match | Yes, on written quotes | Rarely |
| CRA audit support | Included | Billed extra |
| Typical turnaround | 3-5 business days | 2-4 weeks |
The CRA requires business records to be kept for six years from the end of the last tax year they relate to. Because the fee is fixed and budget-friendly, the economics stay predictable whether your file is simple or messy.
There is a version of accounts receivable bookkeeping that runs smoothly and a version that turns into correspondence. The difference is rarely luck; it comes down to details any tax expert handling these files weekly learns to check first.
The starting point is not a strategy but a constraint: An input tax credit is only claimable where the supporting invoice carries the supplier’s GST/HST number — above $150 the invoice also needs the recipient’s name and a description of the supply.
Pair that with the next rule and most of the confusion around accounts receivable bookkeeping disappears: Business records must be kept for six years from the end of the last tax year they relate to, and the CRA can require them in electronic form that it can actually read. And on timing: A small corporation still carries the full compliance set: T2, GST/HST, payroll, and the annual return with the incorporating jurisdiction. The annual corporate return is separate from the T2 and is the one most often forgotten, which can lead to administrative dissolution.
You do not need to hold all of this in your head. You need someone who does — and a tax practitioner handling accounts receivable bookkeeping week after week keeps these rules current so you do not have to. The smoothest files are the ones where the client arrives with these records already assembled.
Whatever the file involves, the terms do not change: fixed fee agreed up front, review together before filing, payment after the service.
Providing transparent fixed pricing and high-quality Accounting Firm compliance for your accounts receivable bookkeeping requirements.
Coverage: Standard bookkeeping and accounts receivable bookkeeping preparation.
Ideal for early-stage startups and sole proprietors.
Book NowCoverage: Full-service bookkeeping, filings, and CRA compliance support.
Perfect for established small businesses.
Book NowCoverage: Strategic advisory and fractional CFO integration.
Ideal for companies seeking high-growth financial structuring.
Book NowWhy you should partner with Tax Filings Canada Experts for all your accounts receivable bookkeeping needs?
Providing tailored accounts receivable bookkeeping services to ensure compliance and maximize deductions.
Our certified accountants protect your business with complete federal and provincial tax compliance.
A dedicated team that handles your financials quickly, accurately, and without upfront fees.
Dedicated preparation processes customized for Canadian businesses.
Advanced accounting software integrations with QuickBooks, Xero, and wave accounting.
Customized packages designed to grow as your business operations expand.
Our clear four-step workflow ensuring absolute tax optimization and complete CRA compliance.
Start with a free, no-obligation consultation to review your business’s financial, tax filing and compliance needs and outline our affordable solutions.
Receive a comprehensive checklist and securely provide the required financial records and documents.
Our tax accountant and accounting experts carefully prepare your filings, identify all applicable deductions and credits, and conduct thorough reviews.
We file your documents electronically with the Canada Revenue Agency (CRA) on time and provide post-filing support.
Risk-Free, Hassle-Free, and Client-First!
Schedule a Free ConsultationUse our office finder below to select your nearest accountant tax filing expert.
See how our expert Accounts Receivable Bookkeeping tax and accounting services have helped Canadian businesses save money and stay compliant.
Remittances at an equipment rental yard in Vancouver, British Columbia were chronically late because of eighteen months of unreconciled transactions and a shoebox of receipts. Fixing the schedule refunded $150,000.
The CRA had assessed a dental hygiene clinic in Edmonton, Alberta on estimates across 3 unfiled years. Real filings vacated $105,000 of that tax.
A second opinion for a subscription box retailer in Winnipeg, Manitoba found a bookkeeping file where owner draws, payroll and supplier payments all landed in the same account in prior filings and recovered $46,000 a year.
A wedding photography studio in Surrey, British Columbia had outgrown its structure, with a payroll clearing account that had never been brought to zero, carrying a balance nobody could explain the visible cost. The reorganisation completed tax-deferred and saves $19,000 a year.
Growth at a courier subcontractor paid by the drop in Saskatoon, Saskatchewan had outrun the back office, and a receivables list that included invoices collected eleven months earlier broke first. Headcount reached 61 with $91,000 of cash freed.
A desk review assessed a mobile pet-grooming company in Burnaby, British Columbia $40,000 over input tax credits claimed on receipts that had already been claimed once. Producing the records vacated it.
Meet the specialists behind your Accounts Receivable Bookkeeping filings. Our Partners Are Alumni of the World's Top Accounting and Tax Institutions
CA (ICAI), CA (MIA), CPA Canada (In-Depth Tax Program)
Canada Tax, International Tax, Cross Border Tax, Transfer Pricing
International Tax, Transfer Pricing Specialist
CA (ICAI), Canada Tax Expert
CA. Fractional CFO and Senior Advisory Specialist
Same fixed fees in every province. Find your city or your sector.
Direct answers to what Canadian business owners actually ask before hiring an accountant.
Accounts Receivable Bookkeeping starts at a fixed fee quoted before any work begins. The quote is locked at the outset and does not change mid-engagement, and you pay only after you have reviewed and approved the deliverable. Compare every plan on our transparent pricing page.
At minimum: prior-year returns and notices of assessment, your bank and credit-card statements for the fiscal period, payroll records if you have employees, and GST/HST filings. We send a checklist tailored to your situation after the free 15-minute call.
Most engagements are completed within 3 to 5 business days once your documents are complete. Catch-up work covering multiple years takes longer, and we tell you the realistic timeline before you commit rather than after.
We respond on your behalf at no extra charge for any return we prepared. Every figure we file is supported by documentation retained in your file, which is what turns a CRA review from a crisis into correspondence. See how our CRA audit representation works.
Yes. Late filing penalties compound at 5% of the balance owing plus 1% per month, so the cost of waiting is real. We prioritise catch-up work and, where eligible, file under the CRA's Voluntary Disclosures Program to reduce penalties.
Yes. We are a cloud-based practice serving every province and territory, so your location does not change the price or the service. Browse our coverage across Canada to find your city.
We work across construction, healthcare, e-commerce, professional services, restaurants, real estate, transportation, technology and non-profits, each with its own deduction profile and CRA scrutiny patterns. See all industries we serve.
Software applies the rules you already know about. An experienced tax accountant finds the ones you do not: capital cost allowance timing, the small business deduction threshold, shareholder loan repayment rules, and TOSI exposure on family dividends. The fee is usually smaller than the deductions it surfaces.
Our accounts receivable bookkeeping services include complete filing, compliance management, and strategic advice customized to Canadian tax laws.
You can start by booking a free 15-minute call. We will review your files, provide a fixed quote, and start working immediately.
Business records must be kept for six years from the end of the last tax year they relate to, and the CRA can require them in electronic form that it can actually read. That is the part most owners have not heard before they sit down with us, and it usually changes what they do next.
We get this one a lot, and the answer is more concrete than people expect. A small corporation still carries the full compliance set: T2, GST/HST, payroll, and the annual return with the incorporating jurisdiction. The annual corporate return is separate from the T2 and is the one most often forgotten, which can lead to administrative dissolution. Bring your documents and we will show you where it lands in your numbers.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
Taxable income is what is left after you total the income the tax rules include and subtract the deductions you are allowed. Employment and self-employment earnings, most pensions, EI and CPP benefits, interest, dividends, rental profit, the taxable portion of capital gains, RRSP and RRIF withdrawals and most taxable benefits from work all go into the total. Tax is then calculated on that figure and reduced by non-refundable credits such as the basic personal amount.
GST or HST is calculated on the selling price of a taxable supply and shown separately on the invoice. Place-of-supply rules decide which province's rate applies, and that is usually where the customer receives the goods or service rather than where you operate. A registrant remits the tax collected less input tax credits for GST or HST paid on business purchases, so the amount sent to the CRA with each return is the net figure, not everything collected.
You can pay through CRA My Business Account or My Payment, through your own financial institution's online banking by adding the CRA GST/HST payment as a payee under your business number, or by pre-authorised debit arranged in My Business Account. Third-party providers accept credit cards for a fee. Payment is due by the deadline for your reporting period, and filing the return does not by itself move the money, so schedule the two separately.
Yes. In bookkeeping terms rent received is revenue, recognised as it is earned; on a personal return it is reported as gross rental income before expenses, and in a corporation it sits in revenue on the income statement. The distinction that matters for tax is property income versus business income: a straightforward rental with few services is property income, while substantial services can make it business income, which changes how CPP and the small business deduction apply.
File a regular T1 showing zero income. There is no minimum income to file, and a nil return is what keeps money flowing to you: the GST/HST credit, the Canada child benefit and provincial credits are all calculated from a filed return. Filing also carries forward tuition amounts, capital losses and RRSP room. File online with software the CRA has approved for the purpose, or on paper. The 2025 return was due 30 April 2026, and late nil returns can still be filed.
Cash tips are taxable income, so leaving them off your T1 understates income and the CRA can reassess the year, charge interest and add a penalty. Where slips are missing it can estimate earnings from deposits, industry norms and lifestyle, which usually costs more than reporting honestly would have. Report the total even though it appears on no slip, and keep a daily tip log so your figure can be supported.
No. Borrowed money is not income because you have to repay it, so a personal or business loan is not reported as income on your return. Interest you pay may be deductible if the money earns business or investment income. Two situations do bite: a debt that is forgiven can create income or reduce a cost base, and an interest-free or low-interest loan from your own corporation can produce a taxable benefit. Get advice before lending to yourself.
No. Interest and late-payment charges on an overdue account are not payment for a separate supply, so no GST/HST is added, even though the original invoice carried tax. A charge that is really payment for something you actually supply, such as a re-delivery, a restocking service or an administrative service, is taxable on its own terms. Where the amount is purely a penalty for paying late, bill it without tax.
No. TFSA withdrawals are not taxable and are not reported as income, however much the account has earned, and that is still true for 2026. The amount you take out is added back to your contribution room, but only on 1 January of the following year. Putting it back in the same calendar year without room to cover it creates an excess taxed at 1% per month. Withdrawals do not affect income-tested benefits.
Match what is withheld to what you will owe. Ask your employer to deduct extra tax if you have a second job, a pension, or investment income with nothing taken off, and review the credits you claimed on the personal tax credits return you filed with them. Self-employed people should set money aside each month and pay instalments when the CRA asks. RRSP contributions made before the annual contribution deadline early in the next year also cut the balance.
Yes. A balance owing does not by itself block a Canadian passport application or renewal, and it does not stop you leaving or re-entering the country. Canada has no measure equivalent to the United States rule tying passports to serious tax debt. What the CRA can do is collect: hold back refunds and benefits, garnish pay or a bank account, and register a lien on property. Clearing the balance or arranging payment keeps collection action from escalating.
Land transfer tax is not a deductible expense. On a home you live in it simply adds to what the property cost you. On a rental or business property it is a capital outlay added to the adjusted cost base, so it reduces the capital gain when you sell rather than being claimed against rent in the year of purchase. Legal fees on the purchase are treated the same way.
Reviewed and fact-checked by Udit Gupta
Ex Big 4 — Ernst & Young, Deloitte · International & cross-border tax specialist · CPA Canada (In-Depth Tax Program) · Chartered accountant, ICAI & MIA
Udit Gupta has over 15 years of experience helping corporations and business owners with corporate structuring, corporate tax filing, bookkeeping, payroll, GST/HST, cross-border tax and CRA representation. Big 4 trained at Ernst & Young and Deloitte, and qualified as a chartered accountant in India and again in Malaysia, he founded his accounting practice in 2014 to serve entrepreneurs, startups and non-resident business owners across Canada. View full member bio.
The Institute of Chartered Accountants of India — member 521458 · Malaysian Institute of Accountants — member CA 44667 · Ex Big 4: Ernst & Young, Deloitte · CPA Canada (In-Depth Tax Program), completed 19 Dec 2023 · In-Depth GST/HST Part I, 12 Jul 2022 · Part II, 5 Jul 2023
Editorial policy. Every page is researched against primary sources — the Income Tax Act, CRA publications and CPA Canada guidance — and every rate or threshold is stated with the tax year it applies to.
