Bookkeeping for businesses in Toronto
Toronto is Canada's financial capital, home to the major banks, a dense professional-services core of law and accounting firms, and a technology corridor that stretches to Waterloo. Condominium development has kept property managers and real estate brokerages busy for over a decade, while a diverse restaurant and retail scene serves a population of more than three million. A Toronto software company matches subscription billing to its payment processor, a downtown law firm tracks client trust accounts separately from operating funds, and a property manager reconciles condo fees against building expenses. That density of professional and technology firms means Toronto businesses expect bookkeeping that moves as fast as their industry.
Eastern Time (ET). Our team works 8am to 8pm ET, which covers the whole of Toronto's business day.
Toronto tax and compliance notes
HST at 13 percent
Toronto businesses charge 13 percent HST on most goods and services, the same combined federal-provincial rate that applies across Ontario, and remit it to the CRA on a schedule tied to revenue. Professional-services firms billing by the hour still need to apply HST correctly to every invoice line.
Payroll remittances and T4s
CRA sets each Toronto employer's remitter type from average monthly withholding two years earlier, which decides how often source deductions are due. T4 slips are due to employees and the CRA by the last day of February, and most employers here also carry WSIB premiums for workplace injury coverage.
Employer Health Tax and EFILE
Ontario's Employer Health Tax applies once annual payroll passes an exemption threshold, which growing Toronto companies reach faster than most. We prepare HST, payroll and EHT workpapers inside your software, and your CPA or another CRA-registered EFILE transmitter files the actual returns.
General notes, not advice. Filing is done by you, your CPA, accountant or registered agent; we prepare the workings.
Industries we serve in Toronto
- SaaSToronto's technology corridor produces subscription software companies that need recurring revenue matched cleanly against billing platforms.
- AgenciesA dense marketing and consulting scene needs project retainers and contractor payments tracked against client budgets.
- Law firmsDowntown law firms need client trust accounts reconciled separately from operating funds every month.
- Real estate agentsOne of the country's most competitive resale markets keeps commission and trust accounting a constant task for Toronto brokerages.
- Property managementYears of condominium development mean property managers need condo fees reconciled against building expenses and reserve funds.
Software Toronto businesses use
Services for Toronto businesses
Frequently asked questions
Do you have an office in Toronto?
No, LedgerBPO does not have a local office in Toronto. We are the accounting and billing division of SS Support Network LLC, registered in Vancouver, Washington, with a second office in Pakistan that covers Toronto business hours. Your dedicated accountant works remotely inside your own software, so there is no Bay Street office to stop by.
How do you handle HST filing for a Toronto business?
We reconcile sales, purchases and the bank feed inside your software and prepare HST workings each period, checking that input tax credits match actual invoices. Filing itself is handled by your CPA or another CRA-registered EFILE transmitter, since that registration sits outside our role. That separation keeps preparation and filing accountability clear.
Do you work with Toronto law firms and property managers?
Yes, we support law firms and property managers with trust-account reconciliation, accounts payable and month-end close inside the software you already use. A dedicated accountant tracks client funds or condo fees separately from operating accounts, so reporting stays audit-ready.
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