When moving between studio apartments, a friend with a pickup truck and a couple of boxes will get the job done. But moving a five-bedroom house? You’re calling a moving company, renting a truck, and attempting to bribe everyone you’ve ever met—and their cousin—with pizza to lend a hand. The bigger the operation, the more resources it takes.
Bookkeeping is no different. The setup that works when it’s just you and a few receipts quickly falls apart once payroll, multiple accounts, and CRA deadlines enter the picture. And as the workload and complexity of your business expand, so do the responsibilities (and therefore the cost) of your bookkeeper.
So what should bookkeeping actually cost at your stage of growth? Here’s how to estimate it.
*All cost estimates are accurate at the time of publishing.
Why Size Matters in Bookkeeping
Solo Entrepreneurs and Freelancers
Growing Businesses (6–20 Employees)
Established Companies (20+ Employees)
Factors Beyond Size That Influence Cost
Why Size Matters in Bookkeeping
Bookkeeping doesn’t get more expensive just because the universe wants to punish you for growing. It gets more expensive because complexity sneaks in with every new milestone.
The first hire means payroll. The second bank account means reconciliations. The third contractor means figuring out who actually sent that invoice. And before you know it, the CRA wants quarterly filings while your lender asks for reports that look nothing like the spreadsheet you’ve been cobbling together at midnight.
At that point, bookkeeping isn’t about “keeping score” anymore—it’s about protecting your business, keeping people paid, and giving you the clarity to make smarter calls. That’s the real reason size matters: every step up comes with new financial muscles to flex.
Solo Entrepreneurs and Freelancers
At this stage, bookkeeping needs are light. You may only have a handful of invoices, receipts, and expenses each month. Technically, you can DIY it with a spreadsheet or a cloud app—and many do. But there’s a fine line between “keeping things lean” and “creating a tax-season nightmare.”
Most solo business owners benefit from a professional touch, even if it’s just a few hours a month. Think:
- Income and expense categorization
- HST/GST tracking
- Annual tax prep support
Costs usually range from $500–$1,000 a month, depending on transaction volume and whether you want your bookkeeper to step in monthly or quarterly. It’s money well spent to keep things clean and avoid late nights Googling “can I write off my internet bill?”
Small Teams (1–5 Employees)
Once you hire staff, bookkeeping officially stops being a back-burner task. Payroll alone adds a new layer of complexity, not to mention reimbursements, supplier invoices, and government filings.
Now, bookkeeping isn’t just about staying organized. It’s about keeping people paid on time and keeping the CRA happy. Typical services include:
- Payroll setup and processing
- HST/GST filings
- Regular bank reconciliations
- Expense management
For a small team, monthly bookkeeping costs usually fall between $1,000–$2,500. But it’s not just a cost; it’s insurance against missed deadlines, payroll mistakes, or cash flow surprises.
Growing Businesses (6–20 Employees)
This is when bookkeeping shifts from reactive to proactive. It switches from simply recording what happened to actively using financial reports to guide decisions. Multiple revenue streams, larger payroll, and increased vendor management all come into play.
At this stage, expect costs of $2,500–$5,000 a month. That covers not only the basics, but also more advanced needs like:
- Management reports (P&L, balance sheet, cash flow)
- Departmental or project-based tracking
- Support for financing or investment conversations
Hiring in-house might start to feel tempting here, but outsourcing is usually more cost-effective. You get access to a team of specialists without having to carry a full-time salary, benefits, and software costs.
Established Companies (20+ Employees)
By the time you hit this size, bookkeeping becomes strategic. You’re likely juggling multiple locations, complex payroll, and regular reporting cycles. Investors or boards may want monthly financial statements. Department heads may need budgets broken down by line item.
In other words, bookkeeping evolves into financial infrastructure. That means either a dedicated in-house bookkeeper supported by an accounting firm, or full-service outsourcing with a robust package. Costs here start around $5,000/month and rise depending on scope, reporting needs, and the systems you use.
Think of it less as a bookkeeping bill and more as the backbone of your decision-making. Without it, flying blind gets very expensive, very quickly.
Factors Beyond Size That Influence Cost
Now of course, size isn’t everything and headcount isn’t the only driver of bookkeeping costs. A few other levers can push numbers up or down:
- Industry complexity: Construction requires job costing; retail involves inventory; professional services are usually simpler.
- Technology: Cloud-based systems integrate easily. Manual processes eat up time.
- Compliance requirements: If your industry is highly regulated, expect your bookkeeper to spend extra hours dotting i’s, crossing t’s, and making sure the CRA doesn’t come knocking.
- Reporting frequency: Monthly reporting costs more than quarterly, but it keeps you closer to the numbers and ahead of surprises.
The Bottom Line
Bookkeeping costs grow with your business, but they’re not just random numbers on a bill. A freelancer doesn’t need the same setup as a 25-person team, and a 25-person team can’t survive on the system that worked back at the kitchen-table stage.
The key lies in matching your investment to where you are right now. You want to be spending enough to keep your books accurate, your risks under control, and your decisions backed by real data.
At AIS Solutions, we’ve seen it all: solopreneurs just getting started, small teams finding their stride, and established companies that need serious financial structure. Wherever you fall on that spectrum, we’ll build a bookkeeping solution that fits today and scales with tomorrow.
If you’re ready to take the guesswork out of bookkeeping costs, let’s talk. Book a call with our team and see how the right bookkeeping setup can help your business grow.
Welcome to AIS Solutions. We’re a Canadian bookkeeping and cloud accounting firm with expertise in virtual bookkeeping, bookkeeping for ecommerce, SaaS companies, landscapers, and contractors.
We help business owners make good financial decisions by providing accurate real-time numbers.
You can learn more about our bookkeeping pricing here.
We also specialize in QuickBooks training.
- If you enjoyed this article, you might also like ‘How Much Does a Bookkeeper Cost Per Hour or Per Month?’
- If you’re a business owner interested in learning more about our bookkeeping services, we’d love to chat with you. Click here to arrange a time for us to meet.
- If you’re interested in QuickBooks training, head over here.
