Bookkeeper Salary in Canada - Average Salary (2023)

FAQs

How much do bookkeepers make in Canada? ›

The average bookkeeper salary in Canada is $44,479 per year or $22.81 per hour. Entry-level positions start at $38,791 per year, while most experienced workers make up to $55,006 per year.

The employment outlook will be good for Accounting technicians and bookkeepers (NOC 1311) in Ontario for the 2022-2024 period.

The average full cycle bookkeeper salary in Canada is $52,500 per year or $26.92 per hour.

These accountants can work for themselves as independent contractors who build their own client list or for companies that offer external auditing services. Either way, start pay ranges from around $65,000 to $80,000 per year. External auditors with 10 years of experience can earn as much as $100,000 annually.

Yes, you can make $100,000 per year as a bookkeeper.

While possible, it is unlikely to earn over $100k as a bookkeeper because even higher-paid positions do not typically earn more than $51,000 per year. The average annual salary for a bookkeeper is $40,168.

The CPB designation is the national standard of excellence for bookkeepers in Canada.

Completion of a college program in accounting, bookkeeping or a related field or completion of two years (first level) of a recognized professional accounting program (e.g., Chartered Accounting, Certified General Accounting) or courses in accounting or bookkeeping combined with several years of experience as a ...

The average hourly wage for a Bookkeeper in the United States is $21 as of May 25, 2023, but the range typically falls between $18 and $23. Hourly rate can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession.

How much does a freelance bookkeeper cost in Canada? ›

This gives a broad range of costs, from ~$20-$50 an hour for a part-time, self employed bookkeeper up to ~$4000 a month + overhead costs for a full-time, in-house bookkeeper. Hiring an external bookkeeping service often sits somewhere in the middle, costing between ~$500 - $2000 per month.

How much does a Part time bookkeeper make in Canada? The average part time bookkeeper salary in Canada is $43,875 per year or $22.50 per hour. Entry-level positions start at $39,000 per year, while most experienced workers make up to $57,974 per year.

Bookkeepers earn a median annual salary of $45,560, according to the U.S. Bureau of Labor Statistics (BLS). However, a bookkeeper's salary varies depending on their education, location and level of experience. The BLS projects employment for bookkeeping, accounting and auditing clerks to decline by 3% by 2030.

A Bookkeeper, or Accounting Technician, provides daily management of accounts, keeps businesses aligned with provincial and federal tax laws and manages accounts payable and receivable. Their duties include record maintenance, clerical work, and data entry. Automate, interview, and more with Indeed Hiring Platform.

Is it necessary to have a CPA license in Canada to work as an accountant? Accountants in Canada are required to hold the CPA – (Chartered Professional Accountant) position. You might start your career with a CPA designation if you are interested in senior accounting, finance, and business positions.

A family of four estimated monthly costs are 3,406.2$ (4,569.7C$) without rent. A single person estimated monthly costs are 956.9$ (1,283.7C$) without rent. Cost of living in Canada is, on average, 8.4% lower than in United States.

Top individual full-time bookkeepers can make well over 6-figures. Even part-time bookkeepers stand to do well in today's economy. Every business has a regular flow of financial statements, balance sheets, bank statements, and other financial documents to keep in check—and most business owners need help to do so.

Typically, a bookkeeper can handle 20 to 30 clients on their own. But when you're approaching or exceeding 50 clients, it's time to hire some help. Hiring help will allow you to maintain more clients, generate more revenue, and keep your customers happy.

Is bookkeeping a stressful job? ›

Bookkeeping is a task that requires dedication and hard work and comes with its own set of stresses. As with many jobs, the amount of stress that comes with bookkeeping depends on the size of the business, the bookkeeper's qualifications, and the amount of experience they have.

The Bureau of Labor Statistics projects -4.5% employment growth for bookkeeping accounting and audit clerks between 2021 and 2031. In that period, an estimated 77,200 jobs will be lost. Bookkeeping, accounting and auditing clerks wear many hats.

Experienced CPAs can earn in the mid- to high six figures, especially if they end up in a management or leadership position.

Overall, bookkeeping is an incredibly flexible online side hustle. If you're interested in making an extra $500 to $1,000+ a month, bookkeeping is a solid fit, but it's also incredibly scalable if you want to grow it into a full-time business.

Accounting technicians and bookkeepers are not regulated in Canada. This means that you are not required to be registered with one of the provincial or territorial regulatory authorities to be authorized to practise as an accounting technician and/or bookkeeper in Canada.

Bookkeepers and accountants both work with financial data, but their roles are different. Bookkeepers focus more on daily responsibilities, including recording financial transactions, invoicing and managing payroll. Accountants analyze financial data and provide financial advice and tax guidance.

Bookkeepers can:

Prepare month-end financial statements. Work with accountants to prepare year-end financial statements and file tax returns.

The average quickbooks bookkeeper salary in the USA is $45,000 per year or $21.63 per hour. Entry level positions start at $37,050 per year while most experienced workers make up to $58,500 per year.

To help answer some of your burning questions, take a look at a few average rates: The average hourly wage for a bookkeeper in the U.S. is $22 per hour. CPAs typically charge $200 – $250 per hour. Top bookkeepers in major cities may charge $500 per hour (or more).

How much should I charge monthly as a bookkeeper? ›

Part time bookkeepers will charge between $400 and $800 per month for basic bookkeeping, excluding the benefits. For full time services, expect to pay from $3,000 to $4,500 per month without the benefits. For outsourced bookkeeping, the price is from $500 to $2,500 per month for basic bookkeeping tasks.

The average cpa salary in Canada is $102,375 per year or $52.50 per hour. Entry-level positions start at $70,000 per year, while most experienced workers make up to $121,875 per year.

It's important to understand whether you need to hire a bookkeeper or an accountant. This choice primarily depends on the industry and the level of expertise required. A bookkeeper is generally: Less expensive to employ.

How much does a Bookkeeper in Toronto, ON make? The median annual Bookkeeper salary in Toronto, ON is C$55,032, as of May 25, 2023, with a range usually between C$48,679-C$61,488 not including bonus and benefit information and other factors that impact base pay.

The salary range for bookkeepers and accountants differ per state and on other important factors. But typically, accountants earn more than bookkeepers, and their midpoint salary is higher.

The average Bookkeeper salary in the United States is $42,981 as of May 25, 2023, but the range typically falls between $38,441 and $47,714.

How much you can earn from a bookkeeping business varies between experience, niches, and how you present yourself. While a full-time employed bookkeeper might make $22 per hour, a freelancer can look towards $60 per hour. By starting your bookkeeping practice, you can ultimately make more money while working less.

Bookkeepers are an integral part of any business. They typically manage a company's financial accounts and maintain accurate records. Whether you're interested in working as a bookkeeper or would like to learn about fundamental bookkeeping processes, a bookkeeping certification can be a worthwhile credential to earn.

Yes, a Quickbooks certification is worth it.

It keeps your accounting and bookkeeping skills up to speed with the market. It's a great help if you are starting your own business or running an accounting firm.

What is the daily life of a bookkeeper? ›

A Day in the Life of a Bookkeeper. Bookkeepers track all cash flows, billing, and lines of credit that affect their companies. They must be detail-oriented and tenacious; they have to track down and rectify any discrepancies, however small, in the company accounts.

In Canada, bookkeepers can set up their business and create a website outlining what they do without any accreditation or designations. However, you'll need some training and certification to become a professional bookkeeper. Bookkeepers can advance their careers by pursuing certifications and licenses.

Find out what the average Junior Bookkeeper salary is

The average junior bookkeeper salary in Canada is $37,000 per year or $18.97 per hour. Entry-level positions start at $31,200 per year, while most experienced workers make up to $46,302 per year.

A professional bookkeeper must successfully pass an exam in advanced bookkeeping to become certified and achieve their CPB designation from CPB Canada.

The price can also vary depending on whether the bookkeeper is in-house, or outsourced. According to Growthforce, part-time in-house bookkeeper rates can cost $400 per month on the low end, and upwards of $4500 per month on the high end, and typically averages to about $2450.

Accounting technicians and bookkeepers are not regulated in Canada. This means that you are not required to be registered with one of the provincial or territorial regulatory authorities to be authorized to practise as an accounting technician and/or bookkeeper in Canada.

Bookkeeping Salary and Job Growth Potential

Even so, the BLS projects an average of 170,200 openings per year for bookkeeping, accounting and auditing clerks.

Chartered professional accountants, certified general accountants (CPA, CGA) and chartered professional accountants, certified management accountants (CPA, CMA) require a university degree and completion of an approved training program and several years of on-the-job training and certification with a regulatory body is ...