Small Business Bookkeeping and Legal Bookkeepers Markham

Dependable Tax and Accounting Services Markham for Tech Startups, Medical Clinics, Professionals & Small Businesses

Markham is one of Canada’s leading innovation and tech hubs, home to thousands of small to medium-sized enterprises, professional corporations, healthcare providers, and digital startups. From Main Street shops to Highway 7 office towers, businesses here need more than just a Markham bookkeeper—they need reliable, CRA-compliant financial partners who understand the local landscape. At MAQ CPA accounting and bookkeeping firm, we provide tailored accounting and bookkeeping services Markham that align with your business goals, support growth, and reduce your audit risk. Whether you’re a medical clinic, legal practice, eCommerce entrepreneur, or newly incorporated consultant, we’re here to help you stay organized, compliant, and confident.

Industry-Specific Bookkeeping for Markham Businesses

Markham Small Business Owners

Whether you’re a digital marketing consultant, local café owner, or retail entrepreneur, your day-to-day hustle shouldn’t include chasing receipts and reconciling statements at 10 PM. With Markham’s rapid business growth, accurate bookkeeping is more important than ever.

We handle monthly bookkeeping, bank reconciliations, HST returns, payroll, and year-end reporting so you can focus on running your business—not your books.

FAQs – Markham Small Businesses

1. Do I need a bookkeeper if I use accounting software?

Software like QuickBooks helps, but it doesn’t replace professional oversight. We correct classification errors, reconcile accounts, and ensure CRA readiness.

2. Can I write off my office rent or coworking fees?

Yes—if it’s used for business purposes. We ensure it’s categorized correctly for deductions.

3. What’s included in your remote bookkeeping package?

Recording transactions, bank/credit card reconciliation, HST tracking and filing, payroll (optional), and financial reports.

4. Do you work with incorporated and unincorporated businesses?

Yes—we serve both sole proprietors and corporations, tailoring services accordingly.

5. Can you prepare financial statements for financing or leasing applications?

Absolutely. We prepare bank-ready financial statements along with a compilation engagement report.

Law firms—especially those managing trust funds—must adhere strictly to Law Society of Ontario (LSO) trust accounting rules. One missed step could lead to disciplinary action.

We support Markham’s legal professionals with monthly trust reconciliations, general accounting bookkeeping, assistance in Cosmolex / Clio / PCLaw integrations and annual Law Society reporting.

1. Can you manage my trust account reconciliation?

Yes. We complete monthly reconciliations within the 25th of the following month that fully meet LSO requirements.

2. Do you provide both trust and general account support?

Absolutely. We separate them in your books and ensure everything is audit-ready.

3. Can you clean up overdue or incorrect trust reconciliations?

Yes—we specialize in trust account cleanup and help you prepare for Law Society audits.

Trust accounting, disbursement tracking, general accounts (bank and credit cards) recording, expense classification, HST filings, and financial reports.

Healthcare Providers and Medical Clinics in Markham

Markham is home to a large number of healthcare professionals operating through Medical Professional Corporations (MPCs). We support physicians, chiropractors, dentists, and clinic operators with clinic bookkeeping, OHIP deposit reconciliation, payroll, HST assessments, and year-end filings.

FAQs – Markham Doctors, Medical Clinics and Healthcare Providers

1. What’s the benefit of incorporating my practice?

Tax deferral, income splitting (with limits subject to TOSI rules), and retirement planning. We help you structure it properly.

2. Can I expense my licensing fees and CME courses?

Yes—these are fully deductible if used for your profession.

3. How do I handle HST on cosmetic or wellness services?

We separate insured vs. non-insured services and apply HST where necessary.

4. What if I have multiple locations?

We can track revenue and expenses by location and provide consolidated reporting.

5. Do you offer staff payroll services?

Yes—we handle everything from payroll calculation to source deductions and T4 slips.

Dentists, Optometrists, Chiropractors & Pharmacies

Professionals operating clinics or storefronts in Markham must manage inventory, capital equipment, associate compensation, and regulatory reporting—all while running a business.

We support your success with clinic-specific bookkeeping, asset tracking, HST compliance, and customized reporting for lenders, buyers, or regulators.

FAQs – Regulated Health Professionals

1. Can I expense new equipment immediately?

Generally, large purchases are depreciated using CRA’s Capital Cost Allowance (CCA) rules. While the entire costs may not be deductible immediately as CCA, we calculate it as per CRA rules.

2. What’s the best way to manage product sales and HST?

We separate taxable and exempt income (e.g., eyewear, supplements).

3. Do you support clinics with multiple associates?

Yes—we can track compensation per associate, including fee splits or salary structures.

4. Can you help prepare for a college inspection or CRA audit?

Absolutely—our bookkeeping is detailed, organized, and compliant with all relevant guidelines.

5. What are the red flags for CRA audits in my industry?

Unreported HST, misclassified expenses, and inconsistent payroll records. We proactively prevent all three.

Tech Startups, eCommerce, Trades, Auto Services & Franchisees

Markham is known as Canada’s High-Tech Capital, and we’re proud to support a range of emerging and established sectors:

  • Startups: Bookkeeping from incorporation, expense tracking, assist your SR&ED consultant
  • eCommerce: Shopify, Amazon, Etsy integrations, payment processor reconciliation, multi-jurisdictional HST
  • Trades & Construction: Job costing, subcontractor payments reporting, equipment depreciation, WSIB reporting
  • Auto Shops & Dealerships: Vehicle sales and repairs, recording of parts purchase and services delivered, HST on transactions
  • Franchisees: proper recordkeeping, royalty and advertising payments tracking, HST reporting
  • Gyms & Wellness Studios: Revenue tracking by class/program, instructor payroll, HST filings

Markham Bookkeeping & Accounting Services: What’s Included

  • Bookkeeping (monthly or quarterly or annually)
  • HST/GST filings & input tax credit reconciliation
  • Payroll & source deductions (including WSIB & T4s)
  • T4, T5, and T5018 slip preparation
  • Capital asset tracking and depreciation schedules
  • Chart of accounts design (industry-specific)
  • Software integration (QuickBooks, Xero, Cosmolex, Shopify, Wagepoint, Clio)
  • Year-end reconciliation & adjustments
  • CRA audit support and documentation
  • Financial statements and tax return coordination
  • Catch-up bookkeeping for overdue records

CRA Compliance That Comes Standard

Bookkeeping isn’t just about organizing numbers—it’s about ensuring CRA compliance to avoid penalties and reduce stress.

Key CRA Requirements To Follow:

  • Maintain accurate records for 6+ years
  • Apply HST correctly (collected vs. paid)
  • Separate business vs. personal expenses
  • File payroll remittances on time
  • Document asset purchases and depreciation

CRA Guide: Keeping Records

Non-Compliance Risks:

  • CRA audits and reassessments
  • Late filing penalties and interest
  • Disallowed deductions
  • Denied HST claims
  • Increased scrutiny from regulators

How MAQ CPA Can Assist You:

  • Up-to-date, cloud-based bookkeeping
  • Digital audit trail through accounting software like QuickBooks Online, Xero
  • Filing reminders and timely reporting
  • CPA oversight of every return and reconciliation
  • CRA representation if issues arise

Why Markham Businesses Trust MAQ CPA

✅ Certified CPAs with extensive experience in Markham and across the GTA

✅ Personalized service for healthcare professionals, startups, and professional corporations

✅ Seamless onboarding within 10-14 business days

✅ Cloud-based, paperless systems for real-time access

✅ CRA-compliant and audit-proof practices

✅ Transparent pricing—no hourly surprises

✅ One-stop point for bookkeeping, payroll, tax, and compliance

FAQs – Markham Bookkeeping & Accounting Services

1. What are your bookkeeping packages priced at?

Packages start around $400/month that increases depending on complexity and transaction volume. We provide a custom quote after your free consultation.

2. Can I manage my books and just have you check them?

Yes—we offer oversight-only packages and reviews for self-managed businesses.

3. Do you offer full-year catch-up services?

Absolutely. Whether you’re 3 months or 3 years behind, we’ll bring your records up to date quickly and accurately.

4. Can you help with incorporation and business setup?

Yes—we can incorporate your business, help you with CRA registrations, HST numbers, payroll setup, and bookkeeping software setup.

5. Do you offer personal and corporate tax filings too?

Yes—our bookkeeping services integrate seamlessly with corporate tax T2 and personal tax T1 filing services.

Cloud Bookkeeping That Powers Growth in Markham Small Businesses and Professional Corporations

Whether you’re growing a clinic, launching a SaaS startup, or running a local service business, your books shouldn’t hold you back. At MAQ CPA, our Markham small business bookkeepers deliver reliable, tailored bookkeeping and accounting services in Markham—so you can grow faster, smarter, and stress-free.

Schedule Your Consultation Today

📞 Call: 416-901-4126
📧 Email: info@maqcpa.ca