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At Tax Filings Canada, we handle every part of your accounts receivable services, 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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Need accounts receivable services in Canada? Tax Filings Canada delivers year-end financial statements, T2-ready working papers and CRA-compliant records for small businesses, corporations and startups — affordable fixed fees quoted up front, and you pay only after you approve the work.
Gather what you have — even a shoebox of receipts is a fine starting point.
We turn your records into a complete, review-ready accounts receivable services file.
You get a walkthrough of the results, in plain language, before you approve a thing.
We submit everything for you and stay available for whatever follows.
| 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 |
Compilation engagements now follow CSRS 4200, which sets out the basis-of-accounting note every lender expects to see attached to the statements. We quote accounts receivable services as one affordable fixed price — the budget-friendly alternative to hourly billing.
Every week brings another round of accounts receivable services work, and every week the same few issues account for most of the friction. Consider this a working income tax specialist's short list for Accounts Receivable Services.
The starting point is not a strategy but a constraint: The CRA requires business records to be kept for six years from the end of the tax year they relate to, in a form that allows the return to be verified. Where records cannot support the return, the CRA is entitled to assess on its own estimate — and the burden of disproving that estimate falls on the taxpayer.
Then comes the detail that separates a clean file from an expensive one: 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. One more, because it surfaces in reviews constantly: An expense is deductible where it was incurred to earn income and is reasonable in the circumstances. The business-use portion must be supported, which for vehicles means a logbook. The CRA rarely argues that an expense category is wrong; it argues that the proportion claimed was never substantiated.
What this means for you depends entirely on facts we have not seen yet — which is the honest answer, and the reason an income tax specialist starts every accounts receivable services engagement with questions rather than conclusions. Every accounts receivable services file rests on documentation, so start by collecting.
Our terms are the same for every engagement: a fixed fee agreed before work begins, a full review with you before filing, and payment only after the service is complete.
Providing transparent fixed pricing and high-quality compliance work for your accounts receivable services requirements.
Coverage: Standard bookkeeping and accounts receivable services 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 services needs?
Providing tailored accounts receivable services to ensure compliance and maximize deductions.
Our tax accountants keep your business compliant with federal and provincial tax rules.
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!
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See how our expert Accounts Receivable Services tax and accounting services have helped Canadian businesses save money and stay compliant.
Closing the books at a regional courier operator in Surrey, British Columbia took 9 weeks. The cause was work in progress carried at billing value one year and at cost the next, so neither year was comparable. It now takes 5 days.
The accounting file at a regional courier operator in Surrey, British Columbia had a weak foundation. It was built on work in progress carried at billing value one year and at cost the next, so neither year was comparable. The year-end had taken 9 weeks each of the last three years. We reconciled the general ledger to the GIFI schedules filed for each open year and corrected the two years where they disagreed. We also moved the reconciliations into the monthly cycle, so the year-end stopped being a rebuild. The file reconciles. Month-end closes in 5 days instead of 9 weeks, and the year-end is a review rather than a reconstruction.
Remittances at a corporation sharing administration with a related company in Toronto, Ontario were chronically late. It came down to a shareholder loan account that had drifted for three years with no supporting entries. Fixing the schedule refunded $135,000.
Remittances at a corporation sharing administration with a related company in Toronto, Ontario were consistently late by a few days. That was enough to trigger penalties every quarter. Behind it sat a shareholder loan account that had drifted for three years with no supporting entries. We valued work in progress on one consistent basis and documented the method, so the comparative year could be relied on. Then we moved the remittance dates into a scheduled process rather than a monthly decision. Penalties stopped from the following remittance onwards, and $135,000 of overpaid instalments was refunded.
A remuneration review at a 14-person design agency in Red Deer, Alberta saved $68,000 across the corporate and personal returns. It found year-end statements that arrived four months late and never tied to the bank.
Nothing was wrong at a 14-person design agency in Red Deer, Alberta. The filings were on time and accurate. What they were not was planned. Year-end statements that arrived four months late and never tied to the bank had never been reviewed. We built a fixed-asset continuity schedule from the purchase invoices. We set the capital cost allowance claim class by class rather than claiming the maximum by default. We ran the numbers across both the corporate and personal returns, so the saving was real rather than deferred into someone else's hands. $68,000 came off the combined corporate and personal tax bill, and the structure holds for future years without further work.
An independent pharmacy in Halifax, Nova Scotia expanded into a second province. The file already carried capital assets written off in full in the year of purchase, with no fixed-asset schedule behind the deduction. Every obligation was set up in advance and $71,000 of cash released.
Revenue at an independent pharmacy in Halifax, Nova Scotia was up sharply and cash was tighter than ever. Underneath it sat capital assets written off in full in the year of purchase, with no fixed-asset schedule behind the deduction. We reconciled the inter-company accounts, papered the arrangement with a written agreement, and aligned both corporations’ year-ends. Every new obligation was set up before it was triggered, not after. That covered registration, remittance frequency and provincial filing. $71,000 of cash was released from the working capital cycle. The expansion completed with every registration and filing obligation covered from day one.
A commercial cleaning contractor in Calgary, Alberta was under review. The issue was two sets of numbers — one in the accounting file, one the owner actually ran the business on. The file closed in 7 weeks with $135,000 of proposed tax cleared.
A commercial cleaning contractor in Calgary, Alberta was selected for review. Two sets of numbers — one in the accounting file, one the owner actually ran the business on had shown up in the CRA's automated matching. The proposed adjustment on accounts receivable services came to $135,000. We set a monthly close calendar with a fixed cut-off, so the year-end became a review of work already done rather than a twelve-month rebuild. Every figure in the response traced to a source record the auditor could verify without asking a second question. The review closed with no change. $135,000 of proposed tax came off the table, and the documentation now in place makes the next review a short one.
A professional practice that closes its books quarterly in Victoria, British Columbia had never tested its work against the eligibility rules. The resulting $79,000 claim was accepted without adjustment.
A professional practice that closes its books quarterly in Victoria, British Columbia assumed the credits did not apply to a business its size. Capital assets written off in full in the year of purchase, with no fixed-asset schedule behind the deduction meant they had applied all along. We identified the qualifying activity and built the documentation to support it. Then we separated personal and corporate spending, cleared the shareholder loan through a documented salary and dividend mix, and restated the comparative year. $79,000 recovered. Because the eligibility analysis is on file, the same claim can be repeated each year with a fraction of the effort.
Meet the specialists behind your Accounts Receivable Services 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 Services 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 serve clients in every province and territory at the same fixed fees, 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 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.
Our answer starts where the legislation starts. Shareholder loan balances must be repaid within one year of the corporation’s following year-end. If they are not, the amount is included in the shareholder’s personal income under subsection 15(2). From there it is a matter of applying it to your year — and that application, not the rule itself, is where a tax expert earns the fee.
You are asking the right question, and it has a real answer. Related-party transactions have to be recorded at fair market value. A below-market charge between connected companies invites an adjustment on both sides of the transaction. What we add on top of that is the paperwork discipline that makes the answer stand up if anyone ever asks you to prove it.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
For the 2025 tax year the filing and payment deadline is 30 April 2026. If you or your spouse were self-employed, the filing deadline moves to 15 June 2026, but any balance owing is still due 30 April 2026. Interest starts the day after the payment deadline, and a late-filing penalty applies on top when a return with a balance owing is filed late. File on time even with nothing owing, because income-tested benefits are recalculated from the filed return.
File a T1 return for the year, sending it electronically with CRA-certified software or mailing a paper return. Gather your slips and receipts first and check them against the ones listed in My Account. For the 2025 tax year the filing and payment deadline was 30 April 2026, or 15 June 2026 to file if you or your spouse were self-employed, with payment still due 30 April 2026. CRA online filing for 2025 returns closes 29 January 2027.
Online banking is the simplest route: add the CRA as a payee, select the account and tax year precisely, and pay from your chequing account. CRA My Payment takes debit card payments, and pre-authorised debit can be scheduled in My Account or My Business Account for a single amount or a run of instalments. Corporations and GST/HST registrants use the same channels under their business number. Keep the confirmation number and allow several days for the payment to post.
CRA online filing for 2025 returns opened 23 February 2026 and closes 29 January 2027. Most people file between late February and the 30 April 2026 deadline, and that stretch is what tax season refers to. You can gather documents and prepare a return earlier, but it cannot be sent electronically before the system opens. Employment and investment slips such as T4 and T5 are issued by payers early in the year, and the CRA's Auto-fill service can pull the ones it already holds once you have set up My Account.
A non-refundable credit reduces the tax you owe to zero but no further, so any unused part is lost, carried forward, or transferred to a spouse or parent where the rule allows it. A refundable credit is paid to you even when no tax is owed, which is how benefit-style payments reach people with little or no income. Most personal credits on the federal return, including the basic personal amount, are non-refundable.
The federal goods and services tax is 5% in 2026, and has been since it dropped from 6% to 5% on 1 January 2008. You pay the 5% on its own in Alberta, the Northwest Territories, Nunavut and Yukon. In British Columbia, Manitoba, Saskatchewan and Quebec it sits alongside a separate provincial tax, and in the five participating provinces it is folded into the HST rate.
A taxable supply is a good or service supplied in the course of a commercial activity, and it is the category that GST/HST attaches to. Most sales fall here: goods, services, leases, licences and admissions. Two sub-groups matter. Zero-rated supplies are taxable at 0%, such as basic groceries, prescription drugs and most exports, and still support input tax credits. Exempt supplies, such as residential rent, most health care and municipal transit, are outside the tax and give no credits.
A refund is paid as one amount for the return it relates to, not in instalments. With direct deposit it usually arrives about two weeks after an online return is filed. The CRA can reduce or hold it to cover tax you owe for another year, or a debt it collects for another government program. If you file several years at once, each return produces its own separate refund.
Every province and territory sets its own income tax brackets, rates and credits, and they apply on top of the federal brackets to produce your combined marginal rate. Alberta uses fewer bands than British Columbia, for example, and most jurisdictions index their thresholds each year. Your province of residence on 31 December decides which table applies to the whole year, so look up that province's schedule for the year you are filing rather than a national figure.
Schedule 5 is where you claim the amounts for a spouse or common-law partner and dependants: the spouse or common-law partner amount, the amount for an eligible dependant, the Canada caregiver amount and amounts for an infirm dependant. For each person you enter the name, relationship, date of birth and net income, and the schedule works out what carries to your return. Tax software builds it from the family details you enter, so the net income figures must be accurate.
CRA stands for the Canada Revenue Agency, the federal body that administers income tax, GST/HST, payroll deductions and benefit payments such as the Canada child benefit. It collects for the federal government and, under agreement, for most provinces and territories. Quebec is the main exception: Revenu Quebec administers provincial income tax and the provincial sales tax there. Alberta and Quebec also administer their own corporate income tax.
Taxable income is what remains after deductions. A personal return moves through stages: total income from all sources, then net income after deductions such as registered retirement savings plan contributions, child care costs and union dues, then taxable income after any further deductions. Tax is calculated on that taxable income using the federal and provincial brackets, and non-refundable credits are applied afterwards, which is why a credit and a deduction are not worth the same amount.
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. He is Big 4 trained, at Ernst & Young and Deloitte, and qualified as a chartered accountant in India and again in Malaysia. In 2014 he founded his accounting practice 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.
Sources. CRA — Keeping records · CRA — Businesses · Income Tax Act (Justice Laws Website)
