--- title: "Bookkeeping in London, Ontario: Monthly Books from $325" url: https://www.everstonecpa.com/bookkeeping-london-ontario description: "Monthly bookkeeping for London, Ontario businesses: HST return included, inventory, payroll and holdbacks reconciled by a CPA. See pricing and email us." type: service-in-a-city updated: 2026-10-02 summary: "Monthly bookkeeping for a London, Ontario business means reconciling every bank and card account and coding the 13% HST so every input tax credit is claimed. It also means recording payroll so it matches what was remitted, and keeping inventory and equipment right before year-end. EverStone does it remotely, reviewed by a CPA, at a fixed monthly fee." faq_count: 9 publisher: EverStone CPA Inc., a Chartered Professional Accountant firm registered with CPA British Columbia and CPA Alberta service_area: British Columbia, Alberta, Ontario and Manitoba language: en-CA contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online --- [Home](https://www.everstonecpa.com/) [Bookkeeping](https://www.everstonecpa.com/monthly-bookkeeping-services) London Bookkeeping · London, Ontario # Bookkeeping for *London, Ontario* businesses A London ledger rarely holds just sales and expenses. It carries stock on the shelves, machines losing value, crews on payroll and holdbacks waiting to be released. EverStone keeps those books for [London businesses](https://www.everstonecpa.com/accountant-london-ontario) remotely, from $325 a month with the HST return included. [Get My Fixed Quote](https://www.everstonecpa.com/book-online)[Ask a Free Question](https://www.everstonecpa.com/quick-question) **Quick answer:** Monthly bookkeeping for a London, Ontario business means reconciling every bank and card account and coding the 13% HST so every input tax credit is claimed. It also means recording payroll so it matches what was remitted, and keeping inventory and equipment right before year-end. EverStone does it remotely, reviewed by a CPA, at a fixed monthly fee. Monthly bookkeeping starts at $325 a month, GST/HST filing included. The books feed every filing that follows: the T2 or T2125, the GST/HST return and its input tax credits, the CCA schedule and the CRA instalments. ## Stock belongs on the books, not only in the building Many London businesses hold goods: bar stock and steel at a fabrication shop, packaging and ingredients at a food processor, parts at a repair yard, wine and dry goods in a restaurant. A ledger that expenses every purchase as it lands shows a bad month when the shelves fill and a good one when they empty, and neither is true. Recording inventory as an asset and moving it to cost of goods sold as it is used gives you a margin you can manage by. The year-end count then confirms the balance rather than inventing it. [The year-end inventory count](https://www.everstonecpa.com/blog/year-end-inventory-count-canada) explains what the CRA expects. ## One HST account, and the credits you are owed Ontario’s 13% HST is a single tax, and the provincial part is recoverable like the federal part. The bookkeeping job is making sure every credit is captured: fuel, repairs, supplies, subcontractors, software. A farm selling mostly zero-rated products charges no HST on those sales but still claims the tax on its inputs, so its returns often show a refund. A restaurant charges HST on nearly everything it sells. Your filing period follows revenue — annual at $1.5 million or less, quarterly up to $6 million, monthly above that — and the ledger has to be closed on the same rhythm. [Input tax credits](https://www.everstonecpa.com/blog/input-tax-credits-itc-canada-guide) covers what qualifies. ## Payroll entries that agree with the remittances Payroll is where books and government accounts most often drift apart. Gross wages, the employee deductions, the employer share of CPP and EI, and the remittance itself each need their own entry, and the liability account should return to zero after every remittance. Ontario adds Employer Health Tax once payroll passes the exemption and WSIB premiums on insurable earnings. Recording both as payroll runs, rather than when a bill arrives, keeps the monthly numbers honest. Where you employ people, [payroll in London](https://www.everstonecpa.com/payroll-services-london-ontario) can sit in the same engagement. ## How the books differ across London’s industries The chart of accounts should look like the business. For a [London manufacturer](https://www.everstonecpa.com/manufacturer-accountant-london-ontario) that means materials, labour and overhead split so a job can be costed. A [farm outside the city](https://www.everstonecpa.com/farm-accountant-london-ontario) usually keeps cash-method books with separate lines for each crop or livestock enterprise. A [contractor](https://www.everstonecpa.com/contractor-accountant-london-ontario) needs progress billings, the holdback receivable and subcontractor payments set up for T5018 slips. A [carrier](https://www.everstonecpa.com/trucking-accountant-london-ontario) needs fuel and kilometres recorded by jurisdiction for fuel tax reporting, and costs tracked per unit. A [restaurant](https://www.everstonecpa.com/restaurant-accountant-london-ontario) needs the POS, the deposits and the tip payouts reconciled every day. ## The shareholder loan account, kept current In an owner-run London company the line between the business and the household is often a debit card. Groceries on the company card, a truck payment from the personal account, a draw taken in cash on a Friday: each one moves the shareholder loan balance. Posted as it happens, the account tells you at any moment whether you owe the company or it owes you. Left to year-end, it becomes a guess, and a balance you owe the company that is not repaid within one year after the year-end is generally taxed as your income. [Shareholder loans](https://www.everstonecpa.com/blog/shareholder-loans-canada-taking-money-out-of-corporation) sets out the rule and the ways it is usually handled. ## What the monthly fee covers One fixed fee, agreed in writing before the first month is touched: - Every bank, credit card and loan account reconciled to the statement - HST returns prepared and filed on your assigned period - Payroll, Employer Health Tax and WSIB entries posted as they arise - Inventory and equipment additions recorded, with a count at year-end - A short monthly report: profit, cash and what is owed to you and by you - A clean hand-off to the [corporate return](https://www.everstonecpa.com/corporate-tax-accountant-london-ontario), prepared by the same CPA ## When the books are months behind A busy season on the floor or in the field is the usual reason books fall behind, and the fix is ordinary. We start from the bank statements, rebuild the months in order, reconcile each account and prepare any HST returns that are outstanding, oldest first. Once the ledger is current, the monthly engagement takes over so it does not happen again. [A bookkeeping catch-up](https://www.everstonecpa.com/catch-up-bookkeeping) describes the process. About this article **EverStone CPA** Prepared and reviewed by a Chartered Professional Accountant at EverStone CPA, a CPA firm working with small and midsized businesses in BC, Alberta, Ontario and Manitoba. Updated September 2026 . [About the firm](https://www.everstonecpa.com/about) · [Send an enquiry](https://www.everstonecpa.com/book-online) ## What gets done, and when What gets done, and when A monthly engagement, not a box of receipts in April — for a business operating in London, Ontario | Cadence | What we do | | Monthly | Bank, card and loan accounts reconciled; payroll and inventory entries posted | | Each HST period | Return prepared from the reconciled ledger and filed | | Year-end | Inventory count recorded, equipment additions listed, books handed to the T2 | | Ongoing | Owner draws and shareholder loan balance tracked as they happen | | Sales tax where you operate | 13% HST, a single registration and a single return | Source: [How often to do the books](https://www.everstonecpa.com/monthly-vs-annual-bookkeeping). General information, not advice. Common questions ## London bookkeeping questions **What does monthly bookkeeping cost in London?** From $325 a month, with the HST return included, fixed in writing after we review your enquiry. Volume, payroll and inventory decide where a particular business lands. [Ask about your case →](https://www.everstonecpa.com/quick-question) **Which software do you use?** Cloud accounting software you own the subscription to, usually QuickBooks Online or Xero. If you already run one, we work in it; bank feeds and receipt capture mean far less paper for you to send. **Do I need to track inventory monthly?** The CRA requires a count at year-end. Tracking it monthly is what lets you see a real margin through the year, and for a shop or food business it is usually worth the effort. **My farm gets HST refunds. Is that normal?** Often, yes. Most farm products are zero-rated, so no HST is charged on the sale, but HST paid on fuel, repairs and supplies can still be claimed back. Refund returns are reviewed more closely, so the records behind them need to be tidy. **Can you take over from our current bookkeeper?** Yes. We review the ledger, reconcile it to a clean starting point and continue from there. Anything that needs correcting is listed before it is changed. **How long do I keep receipts?** Six years from the end of the tax year they relate to. Digital copies are acceptable if they are legible and complete, so a photo sent through the upload link can replace the shoebox. **We sell to customers in Michigan. Does that change the books?** Exports are generally zero-rated for HST, and US dollar sales and bank accounts need to be converted consistently. Both are set up once in the ledger so each month is recorded the same way. **Do you have a London office?** No. EverStone keeps London books remotely. Feeds arrive electronically and documents come through a secure upload link, so no visit is needed. **Do you work with businesses outside London itself?** Yes. Books for businesses in St. Thomas, Strathroy, Woodstock and the rest of Middlesex County are kept exactly as London ones are: bank feeds, receipts through a secure upload link, and the same fixed monthly fee. ## Related services and local guides Nearby cities, the rest of what we do for London businesses, and the reference pages behind this one. [Contractor accountant in London Holdbacks, progress billing, T5018 slips and WSIB for London, Ontario builders and trades.](https://www.everstonecpa.com/contractor-accountant-london-ontario) [Restaurant accountant in London Daily POS reconciliation, tips, food cost and HST on meals for London kitchens and bars.](https://www.everstonecpa.com/restaurant-accountant-london-ontario) [Manufacturer accountant in London Inventory, job costing and equipment for London parts makers and food processors.](https://www.everstonecpa.com/manufacturer-accountant-london-ontario) [Bookkeeping in Kitchener-Waterloo The same bookkeeping engagement, serving Kitchener-Waterloo](https://www.everstonecpa.com/bookkeeping-kitchener-waterloo) [Bookkeeping in Windsor The same bookkeeping engagement, serving Windsor](https://www.everstonecpa.com/bookkeeping-windsor) [Bookkeeping in Hamilton The same bookkeeping engagement, serving Hamilton](https://www.everstonecpa.com/bookkeeping-hamilton) [Accounting & CPA services in London CPA services for London businesses](https://www.everstonecpa.com/accountant-london-ontario) [Corporate tax (T2) in London Corporate tax for London businesses](https://www.everstonecpa.com/corporate-tax-accountant-london-ontario) [Monthly vs annual bookkeeping Which cadence actually costs less](https://www.everstonecpa.com/monthly-vs-annual-bookkeeping) [QuickBooks vs Xero in Canada Choosing the right ledger software](https://www.everstonecpa.com/quickbooks-vs-xero-canada) [Accountants across Ontario Remote CPA service throughout Ontario](https://www.everstonecpa.com/accountant-ontario) [Ontario tax facts Current rates and thresholds for Ontario](https://www.everstonecpa.com/ontario-tax-facts) [A real fixed quote, line by line A real example of a fixed fee quoted in writing before work starts](https://www.everstonecpa.com/sample-quote) [Fixed monthly pricing What an engagement costs, published up front](https://www.everstonecpa.com/pricing) ### What clients say Rated 5.0 on Google across 21 client reviews. [Read all reviews](https://www.everstonecpa.com/reviews) ★★★★★ “…He is very knowledgeable and has saved me tons in taxes by restructuring my group of companies — the best accountant I've worked with in the last 10 years, after switching from three different firms.” Matt Hildebrandt Verified Google review ★★★★★ “…have been completing my bookkeeping, taxes and financials for the last 2 years and they have been amazing. Thank you!” R. H. Verified Google review ### Starting fees Every fee is fixed in writing before any work begins. - **Monthly bookkeeping, GST/PST filing included** from $325 a month *This page* - **Payroll, remittances, T4s and ROEs** included in monthly bookkeeping - **Books, payroll and the year-end T2 together** $500–$700 a month - **Corporate year-end and T2 return** fixed fee, quoted in writing - **Personal tax return (T1)** from $125; self-employed or rental $275–$500 - **Catch-up bookkeeping** from $2,200 per year of records - **Controller or CFO support** controller from $1,650, CFO from $2,750 a month - **One-off advice call with a CPA** $225 plus GST [Get My Fixed Quote](https://www.everstonecpa.com/book-online?service=monthly#enquiry-form) ## Keeping books in London, Ontario? Get the HST return, the payroll entries and the monthly close handled by one CPA, at a fixed monthly fee. [Get My Fixed Quote](https://www.everstonecpa.com/book-online)[Ask a Free Question](https://www.everstonecpa.com/quick-question) ## Remote bookkeeping EverStone is a fully virtual, one-CPA firm, serving London, Ontario entirely online. **There is no London office and no local staff.** Bank and card feeds come in electronically, receipts and statements arrive through a secure upload link, and the ledger lives in cloud software you hold your own login to. The CPA who reconciles your month is the one who prepares your year-end. ## Talk to a CPA about this One Chartered Professional Accountant, start to finish. Fixed fees, quoted in writing before any work begins, and no obligation from a first conversation. [Get My Fixed Quote](https://www.everstonecpa.com/book-online) [Ask a Free Question](https://www.everstonecpa.com/quick-question) Email info@everstonecpa.com --- Source: https://www.everstonecpa.com/bookkeeping-london-ontario Prices: https://www.everstonecpa.com/pricing · Contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online