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Bookkeeping Services

Fractional Accounting

Bookkeeping Services in Montreal for Small Businesses and Trades

When your books are not up to date, it can cause headaches later with taxes, payroll, and cash flow. At Fractional Accounting, our bookkeeping services in Montreal, QC, help small business owners and tradespeople keep things organized month by month, so nothing piles up and catches you off guard.

We record your income and expenses, match your bank and credit card accounts, file your GST/HST and QST returns, and keep your payroll records in order, so you are not stuck sorting through receipts or trying to fix everything at the last minute. Based in Montreal and working with businesses across Quebec, we keep the process simple and easy to follow.

Call 438-802-4945 or book a consultation to get your books up to date.

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What Our Bookkeeping Services Include

Our monthly bookkeeping service covers everything between your first transaction of the month and your last. Here is a breakdown of what we handle for small businesses and trade companies in Montreal.

Monthly Transaction Recording and Bank Reconciliation

We record every transaction in your accounting software each month. Then we reconcile your bank accounts and credit card statements against those entries so the numbers match. If there is a discrepancy between your bank statements and your books, we catch it before it turns into a year-end problem that costs twice as much to fix.

Accounts Payable, Receivable, and Invoice Management

We keep track of what you owe suppliers and what clients owe you. Invoices that sit open for 60 or 90 days while you are running a job are a cash flow problem waiting to happen. We flag unpaid accounts receivable and follow up before open invoices go stale.

GST/HST and QST Filing

We file with both CRA and Revenu Québec on your schedule, monthly or quarterly, depending on your revenue. We track input tax credits on eligible purchases so you recover what you have already paid. If your revenue has crossed $30,000 and you have not registered for QST yet, we'll sort that out on day one.

Financial Statements and Monthly Reports

Each month, you receive an income statement and a balance sheet. These tell you whether the business made money last month and how much cash is in the account. The report uses clear, simple language rather than complex wording for auditors.

Bookkeeping for Contractors and Trades Businesses in Montreal

A plumbing company managing active jobs and CCQ payroll has different bookkeeping needs than a retail store. Job costing, construction payroll compliance, and subcontractor payment tracking require specific setups that standard bookkeeping does not include.

Job Costing That Tracks Profit on Every Job

A monthly income statement only shows whether the business was profitable overall. Job costing tracks revenue and expenses at the project level so you can see the actual margin on each contract. For electrical contractors and renovation companies in Montreal, that number is often the only one that matters. We set up job cost tracking in your accounting software and produce a job cost report each month so you know where the work is profitable and where it is not.

CCQ Payroll for Quebec Construction Companies

The Commission de la construction du Québec governs construction workers in Quebec under the Act Respecting Labour Relations in the Construction Industry. Sector-specific collective agreements set wage rates across four construction sectors: residential, commercial/institutional, civil engineering, and industrial. Employers must calculate vacation pay (indemnités de vacances) separately and remit source deductions (DAS) to CRA. They must also submit CCQ contributions covering union dues and apprentice training levies. Relevé 1 slips must reflect CCQ-specific compensation correctly. A bookkeeper who does not know these rules will get it wrong, and CCQ regularly audits the payroll records of construction employers.

The Subcontractor Filing Most Trades Businesses Miss (T5018)

CRA requires any business that pays subcontractors more than $500 in a calendar year to file a T5018 Statement of Contract Payments. This applies to general contractors, renovation companies, specialty trades, and any business that regularly hires subcontractors for project work. The filing is due six months after your fiscal year-end. Most trade businesses either do not know about it or have never filed one. We track subcontractor payments through the year and prepare the T5018 at year-end, so you are not facing a CRA compliance gap you did not know existed.

Fractional Accounting

Payroll Services and Bookkeeping for Montreal Small Businesses

Getting payroll wrong can be costly in two ways: employees will notice immediately if their pay is incorrect, and CRA adds daily compound interest on late payments, making the situation even more expensive. We handle payroll processing and source deduction remittances as part of our monthly bookkeeping service, ensuring there are no issues.

For each pay period, we calculate gross pay and statutory deductions, including employer contributions. We send DAS remittances to the CRA and Revenu Québec before the deadline, rather than leaving it to the last minute. At year-end, we prepare T4 slips and Relevé 1 forms, and maintain employee payroll records throughout the year, so you do not have to rebuild records when your accountant or a government auditor asks for them.

Payroll for businesses with field employees is more complex than standard salaried payroll. When subcontractors and direct employees work on the same job sites, it's important to organize records from the start. This is the typical payroll process for most of our trade clients, and we ensure the system is set up to support this from day one.

Year-End Preparation and Corporate Tax Filing

Having accurate and up-to-date books at year-end directly reduces what you pay your accountant. Organizing and updating records before the fiscal year ends prevents spending billable time on reconstructing events from March or tracking down an 8-month-old bank statement.

We close the books within ten business days of your fiscal year-end. We prepare and format working papers for your accountant so they can file your T2 federal corporate return and CO-17 Quebec corporate return without having to start from scratch. If you handle corporate tax filing through us, we carry the file from year-end close through to submission with both the CRA and Revenu Québec. We also include QST annual reconciliation as part of the engagement.

Consistent small-business bookkeeping throughout the year reduces the effort and cost of year-end closing. This benefit applies to all our clients.

Fractional Accounting

How Monthly Bookkeeping Works With Fractional Accounting

You do not need perfect records or a working accounting system to get started. We build what you need, wherever you are, using a three-step process.

1. Free discovery call

We go through your current setup: the software you use, how many transactions you run per month, whether payroll is active, and whether any previous years need to be brought up to date. The call only takes about thirty minutes and costs you nothing. We tell you exactly what the engagement will cover before you decide to work with us.

2. Setup and onboarding

We set up QuickBooks or Xero for your business and create a chart of accounts that reflects how you actually operate. We clear any backlog before the regular monthly service begins.

3. Monthly delivery

We close the books each month and send you a report. If something seems unusual or a question comes up during the month, you can contact the same person each time. You are not directed to a support queue.

Why Choose Fractional Accounting for Bookkeeping Services in Montreal

Montreal-based support for Quebec and Canadian businesses

We are a Montreal-based bookkeeping company providing bookkeeping services for small businesses across Quebec and Canada. Our team understands how bookkeeping and tax services work in Quebec, including QST filings and payments to both the Canada Revenue Agency (CRA) and Revenu Québec. We handle the details so your business stays compliant.

Bilingual support

We work in English and French. This helps when you need to send documents, respond to CRA letters, or deal with Revenu Québec. Our bookkeepers guide you through each step so nothing gets missed.

Built for small business owners

We work with small business owners, contractors, and self-employed workers who are on job sites, not behind a desk. Our bookkeeping service is simple. We tell you exactly what we need, keep requests short, and handle the rest so you can focus on running your business and making money.

One point of contact, consistent service

You work with the same bookkeeper every month. No switching between different people. Our team handles your monthly bookkeeping, keeps your records up to date, and delivers clear financial statements, such as your balance sheet, in a timely manner. You always know where your business stands.

Frequently Asked Questions About Bookkeeping Services in Montreal

How much does a bookkeeper charge per month in Canada?

Monthly bookkeeping services for a small business in Canada usually range from $300 to $1,000. The price depends on how many transactions you have and whether you need payroll management or tax preparation. Businesses with simple books pay less, while companies with employees, payroll, and subcontractors usually pay more.

How much do bookkeepers charge per hour in Montreal?

Hourly rates for professional bookkeeping in Montreal range from about $45 to $85. More experienced or CPA-supported accounting services are at the higher end. Hourly billing is practical for catch-up work. Whereas, for ongoing bookkeeping and accounting services, monthly pricing is usually better because it gives you a fixed cost.

Are bookkeeping services cheaper than accounting services?

Yes. Generally, bookkeepers cost less than accountants, and hiring both for different tasks can help cut your overall accounting expenses. A bookkeeper for a small business handles daily bookkeeping, accounts receivable, expenses, and payroll. Meanwhile, your accountant takes care of tax returns and year-end procedures.

What are the 4 types of bookkeeping?

The main types of bookkeeping are single-entry, double-entry, cash basis, and accrual. Most small business bookkeeping services use double-entry and accrual. This approach allows for better reporting, clearer profit tracking, and more accurate financial management.

Do I need a bookkeeper if I already use QuickBooks?

Yes. QuickBooks Online is a helpful tool, but it does not replace a bookkeeper. A virtual bookkeeper or in-house bookkeeping firm reviews your entries, fixes mistakes, and makes sure everything is recorded correctly. Many clients who turn to us already use QuickBooks but still encounter errors in their books. Fractional Accounting is here to help you straighten everything out and make bookkeeping smoother and stress-free.

What is a T5018, and does my trades business need to file one?

A T5018 is a CRA return used in the construction industry. If your business pays subcontractors over $500 in a year, you must file it. Most contractors do not know about this requirement until the CRA follows up. We handle this as part of our bookkeeping and tax services to keep you compliant and avoid penalties.
Testimonials

Our Customers Said

  • “So Helpful”
    Working with Melissa as my fractional CFO has been a game-changer for my startup. Her expertise and guidance have been invaluable, and she has helped me make sound financial decisions that have accelerated our growth.

    Martha Nazario

  • “Makes it make sense”
    Fractional Accounting is a lifesaver for small businesses like mine. They handle all the bookkeeping and tax headaches, allowing me to focus on running my business. Their transparent communication and competitive rates make them the perfect choice.

    Alex Martinez

  • “Outstanding Service”
    Before Fractional Accounting, I felt constantly stressed about my finances. They’ve helped me gain control and clarity. Their proactive approach and financial planning have given me peace of mind and allowed me to confidently scale my business.

    Antoine Crawford

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