What a CPA firm does for a small business, how it differs from a bookkeeper, when you need one and how firms charge, with each rule linked to the CRA, the Government of Alberta or CPA Alberta.
A CPA firm keeps a small business’s books, prepares and files its tax returns and slips with the CRA, runs or checks payroll, prepares year-end financial statements and plans ahead so the owner pays only the tax the law requires. In Alberta, a CPA who offers financial statements, accounting advice or tax advice to the public must do it through a firm registered with CPA Alberta, so the firm answers to the regulator for that work.
What Services Does a CPA Firm Provide?
Most small businesses use a CPA firm for the same core work, done every month or every year:
| Service | What the firm does |
|---|---|
| Bookkeeping | Records sales, expenses, payables and receivables each month, reconciles the bank and credit card accounts and prepares the GST/HST return. |
| Corporate tax | Prepares and files the corporation’s T2 return every year and, for an Alberta corporation, the Alberta AT1 return. |
| Personal tax | Prepares the owner’s T1 return, including salary, dividends and self-employment income. |
| Payroll | Calculates pay, deducts and remits income tax, CPP and EI, and issues T4 slips. |
| Financial statements | Prepares year-end financial statements for the T2, a bank or a lender. |
| Buying or selling | Helps with the tax side of buying or selling a business. |
| US and cross-border | US corporate tax returns and Canada-US cross-border tax for businesses. |
The planning is what ties it together. Because the same team keeps the books and prepares the returns, it can tell you before the year-end how to pay yourself, when to buy equipment and what to set aside for tax, instead of only reporting what already happened.
What Is the Difference Between a Bookkeeper and a CPA Firm?
A bookkeeper records the transactions. CPA Alberta’s professional accounting firm FAQ describes bookkeeping as posting and managing payables, receivables, expenses and sales, with no full set of financial statements and no accruals.
A CPA firm goes further. Under Alberta’s Chartered Professional Accountants Act, a CPA Alberta registrant who offers the public a compilation engagement, accounting services, advice about or interpretation of tax matters, or a tax return prepared along with those services must do so through a professional accounting firm registered with CPA Alberta (CPA Alberta PAF FAQ, February 2026).
So the question is not which one is better. A bookkeeper can keep clean records. A CPA firm can keep the records, turn them into financial statements and tax returns, and give tax advice on them.
- Anyone can be an “accountant”. CPA Alberta notes that anyone in Alberta can call themselves an accountant without being registered, which is why it keeps a public register of members, firms and CPA professional corporations (CPA Alberta, Verify a member or firm).
- Check before you hire. Look the firm up on that register, not only the person.
Our packages
Not sure where to start?
- Led by a licensed CPA
- Fixed fees quoted up front
- Bookkeeping, tax and payroll
- Sign up online in minutes
When Does a Small Business Need a CPA Firm?
These are the points where most owners move from doing it themselves, or from a bookkeeper alone, to a CPA firm:
- You incorporate. A corporation resident in Canada has to file a T2 return every tax year, even when there is no tax payable (CRA, Corporation income tax return). A corporation with a permanent establishment in Alberta also files an Alberta AT1 return within six months after its year-end, unless it is exempt (Alberta, Corporate income tax).
- Your sales pass $30,000. Once your taxable sales are more than $30,000 in a single calendar quarter, or over four consecutive calendar quarters, you are no longer a small supplier and must register for the GST/HST and file returns (CRA, When to register).
- You hire. You deduct income tax, CPP and EI from each pay and remit them, for most small employers by the 15th of the next month (CRA, Remitting source deductions), then issue T4 slips.
- A bank, lender or buyer asks for financial statements.
- You buy or sell a business, where the tax result depends on how the deal is structured.
How Do CPA Firms Charge?
Firms charge in one of four ways: by the hour, per return, per engagement, or a monthly fee that covers the recurring work. Hourly billing means the cost is only known at the end. A fixed fee means you know the cost before the work starts.
Whatever the method, ask for the fee in writing, with what it includes and what costs extra. Our monthly packages are a fixed monthly fee, listed on our pricing page, and we confirm your fee in writing before any work begins.
What Does 786 Venture CPA Do for Small Businesses?
We are a CPA-led firm for small and owner-managed businesses. The same team keeps your books, prepares your corporate and personal returns, runs payroll and plans your tax, so nothing is passed between departments.
- Licensed. 786 Venture CPA is licensed by CPA Alberta, and every engagement is led by a Chartered Professional Accountant.
- Where we work. Our office is in Calgary, at #115, 1925 18th Ave NE. We serve businesses in every province and territory except Saskatchewan, by Zoom, phone and email.
- Canada and the US. Besides Canadian bookkeeping and tax, we prepare US corporate tax returns, keep books for US businesses and handle Canada-US cross-border tax for businesses. See our US and cross-border tax and US bookkeeping pages. Outside Canada, we work with the United States only.
- Languages. We can serve you in English, Filipino, Hindi, Urdu, Bangla (Bengali), Vietnamese and Nepali.
- Fees. Our monthly packages are a fixed monthly fee, listed on our pricing page, and we confirm your fee in writing before any work begins.
- Clients. 5.0 on Google from 34 client reviews (November 2026).
If you are not sure which of these you need, see our packages. You can sign up online in a few minutes.
Frequently Asked Questions
Do I need a CPA firm if I already have a bookkeeper?
Often, yes. A bookkeeper records the transactions. If you are incorporated, need financial statements or want tax advice, that work is done by a CPA firm registered with CPA Alberta. Many businesses keep their bookkeeper and use the CPA firm for the year-end, the returns and the planning.
Does a sole proprietor need a CPA firm?
Not always. A sole proprietor reports business income on the personal T1 return, which can be simple. A CPA firm helps when you register for the GST/HST, hire staff, or are deciding whether to incorporate.
Does a small corporation with no income still need to file?
Yes. The CRA says a corporation resident in Canada files a T2 return every tax year even when there is no tax payable, and an Alberta corporation usually files an Alberta AT1 return as well.
How do I check that a CPA firm is licensed?
Search the firm on CPA Alberta’s public register of members, firms and CPA professional corporations. In Alberta, anyone can call themselves an accountant without being registered.
Can a Calgary CPA firm work with a business in another province?
Yes. We serve businesses in every province and territory except Saskatchewan, by Zoom, phone and email from our Calgary office.
Reviewed on 27 October 2026. Rules in this article are from the Canada Revenue Agency, the Government of Alberta and CPA Alberta, linked beside each fact and listed below. This article is general information, not tax advice for your situation.
Bookkeeping
Monthly bookkeeping with GST/HST filing, reviewed by a licensed CPA
T2 Corporate Tax
Corporate tax accountant in Calgary: the T2 and the Alberta AT1, salary and dividend planning
T1 Personal Tax
Personal tax returns for owners, employees and the self-employed
Payroll
Payroll runs, source deduction remittances and T4 slips
Sources
- CPA Alberta, Professional Accounting Firm (PAF) FAQ, February 2026 (PDF) (checked 27 October 2026)
- CPA Alberta, Verify a member, firm or CPA professional corporation (checked 27 October 2026)
- Canada Revenue Agency, Corporation income tax return (page dated 2026-10-19, checked 27 October 2026)
- Government of Alberta, Corporate income tax (checked 27 October 2026)
- Canada Revenue Agency, When to register for and start charging the GST/HST (page dated 2026-06-16, checked 27 October 2026)
- Canada Revenue Agency, How and when to remit source deductions, due dates (page dated 2026-06-10, checked 27 October 2026)
