Short answer: Bronte Bay provides the full accounting function for Canadian businesses — bookkeeping, HST filing, corporate tax, payroll, and Virtual CFO services — under one transparent monthly engagement. Cloud-based, CPA-led, and always accessible. When we handle the numbers, you run the business.
You started your business to do the work you are good at — not to reconcile bank statements, calculate payroll deductions, and worry about HST deadlines. As your business grows, the accounting behind it grows in complexity too. At some point, doing it yourself or managing a patchwork of tools and advisors stops being cost-effective and starts being a risk.
Bronte Bay handles the entire accounting function for businesses across Toronto and Canada. We combine nearly 40 years of CPA expertise with a modern cloud workflow — giving you accurate, current financial information and the tax planning to keep more of what you earn.
Our Accounting Services
Monthly Bookkeeping
Accurate, current books are the foundation of every other financial decision you make. Bronte Bay provides monthly bookkeeping on Xero — with bank feeds connected, transactions categorized, and accounts reconciled every month so your books are always audit-ready and your financial reports are always current.
- Daily bank transaction imports via Xero bank feeds — no manual entry
- Monthly bank and credit card reconciliation
- Accounts payable management — bills captured via Hubdoc, paid via Plooto
- Accounts receivable tracking — invoicing, payment reminders, aged receivables reporting
- Monthly Profit & Loss and Balance Sheet delivered within the first week of the following month
- HST tracking throughout the filing period — no manual calculation at deadline
→ View monthly bookkeeping packages and pricing
Corporate Tax Planning and Filing (T2)
Your T2 corporate income tax return is due within six months of your fiscal year-end. We file it accurately and on time — and more importantly, we plan for it throughout the year so there are no surprises when it arrives. Corporate tax filing at Bronte Bay is never just a form — it is the output of year-round planning.
- T2 corporate income tax return preparation and filing
- Ontario small business deduction planning — protecting the 12.2% small business rate on the first $500,000 of active income
- Salary vs. dividend optimization for incorporated owners
- Capital cost allowance (CCA) planning on equipment and leasehold improvements
- SR&ED refundable tax credit claims for qualifying businesses
- Tax instalment calculation and scheduling
→ View year-end tax packages and pricing
HST/GST Filing and Compliance
HST filing deadlines are firm — the CRA charges 3%–10% penalties for late remittances plus compound daily interest. Bronte Bay tracks your HST collected and input tax credits (ITCs) throughout each filing period in Xero, and files your return on time every time.
- HST/GST registration advice — voluntary vs. mandatory, optimal timing
- Tax code configuration in Xero — correct treatment of taxable, zero-rated, and exempt supplies
- ITC maximization — every eligible input tax credit claimed
- Monthly, quarterly, or annual HST return preparation and CRA remittance
- HST on exports — zero-rating analysis for businesses billing non-resident clients
- Industry-specific HST rules — medical services, financial services, real estate, short-term rentals
Payroll Processing
Canadian payroll is one of the highest-risk accounting tasks a business handles — CPP, CPP2, EI, and provincial income tax rates change annually, and late or incorrect remittances attract immediate CRA penalties. We run payroll through Wagepoint — Canada’s leading payroll platform — integrated directly with Xero.
- Payroll setup for new employees — including employer CRA payroll accounts
- Processing for salaried, hourly, and commission-based employees
- CPP, CPP2, EI, and income tax deductions at current CRA rates
- CRA payroll remittances — monthly, quarterly, or accelerated as required
- T4 slip preparation and filing by the February deadline
- Records of Employment (ROEs) when employees leave
- Advice on employee vs. contractor classification — a common CRA audit trigger
Personal Tax (T1) for Business Owners
For incorporated business owners, your personal T1 return is inseparable from your corporate tax strategy — the salary/dividend split you take from your corporation determines both your personal tax and your RRSP contribution room. We file your T1 as part of a coordinated personal and corporate tax plan.
- T1 personal income tax return for incorporated owners, self-employed professionals, and investors
- Salary and dividend income from corporations — optimal mix for your situation
- RRSP optimization and contribution planning
- Rental income (Schedule 776) and capital gains reporting
- T2125 self-employment income for unincorporated professionals
- Quarterly tax instalment planning for self-employed individuals
Virtual CFO Services
As your business grows, you need more than accurate books and a filed tax return. You need financial intelligence — cash flow forecasting that tells you what next quarter looks like, budget vs. actual analysis that tells you where you are off track, and a CPA who thinks about your business’s financial future, not just its past.
- 13-week rolling cash flow forecasting
- Annual budgeting and monthly variance analysis
- Scenario modelling — what happens to your cash if revenue drops 20%, or you hire two new staff?
- KPI dashboards — real-time financial metrics tailored to your business and industry
- Investor-ready financial statements and management reports
- Financial strategy for growth — pricing analysis, margin improvement, expansion planning
- Lender and bank relationship support — financial package preparation for loan or line of credit applications
Our Cloud Accounting Workflow
Every Bronte Bay client runs on a connected cloud accounting stack that eliminates manual data entry and gives you real-time financial visibility from any device:
| Tool | What It Handles |
|---|---|
| Xero | Core accounting — bank feeds, invoicing, HST tracking, financial reporting, payroll journal entries |
| Hubdoc | Receipt and bill capture — photo, email, or automatic supplier fetch — pre-coded and pushed to Xero |
| Plooto | Accounts payable — EFT and cheque payments to suppliers; auto-reconciled in Xero |
| Rotessa | Accounts receivable — pre-authorized debits from recurring clients; invoices auto-mark paid in Xero |
| Wagepoint | Canadian payroll — CPP, CPP2, EI, T4s, ROEs, CRA remittances; syncs to Xero after every pay run |
| Secure client portal | Encrypted document sharing for tax returns, financial statements, and CRA correspondence |
Industries We Serve
Bronte Bay has specialized knowledge across industries where accounting complexity is significantly above average. We do not treat every business the same — a law firm has trust accounting obligations, a restaurant has tip reporting rules, and a physician has CPSO incorporation requirements. We know these distinctions and apply them to your file from day one.
Why Choose Bronte Bay for Your Accounting
| What You Need | What Bronte Bay Delivers |
|---|---|
| A CPA who knows your file | Direct access to a senior CPA — not a rotating cast of junior staff. Most client questions answered within 24–48 hours. |
| Everything under one roof | Bookkeeping, tax, payroll, HST, and advisory under one engagement. No coordinating between a separate bookkeeper and accountant. |
| Proactive advice, not just compliance | We tell you about deadlines, tax planning opportunities, and regulatory changes before they affect you — not after. |
| Real-time financial visibility | Certified Xero partner. Your books are always current — check your P&L on your phone any time, not just at month-end. |
| Transparent fixed pricing | Know exactly what you pay before you start. No hourly billing surprises. See our year-end packages and monthly bookkeeping packages. |
| Nearly 40 years of Canadian CPA experience | Deep knowledge of CRA rules, Canadian tax law, and the financial realities of running a business in Canada — applied to every client file, every year. |
Frequently Asked Questions
Take Accounting Off Your To-Do List
You built your business to do the work you are good at. Accounting, tax, and payroll are ours. Book a consultation to see exactly what a Bronte Bay engagement covers and what it costs — no obligation, no pressure.
Related pages: Tax Services · Business Advisory · Monthly Bookkeeping · Xero Partner · About Bronte Bay