Ecommerce Accounting & Bookkeeping Services in Canada
GTA Accounting provides accounting, bookkeeping and tax services for ecommerce
businesses across Canada, including sellers using Shopify, Amazon, eBay, Etsy and their
own online stores. We also help Canadian businesses selling into the US and US businesses
with Canadian ecommerce accounting and tax obligations.
GTA Accounting is a highly rated CPA Firm in Toronto
It is the highest-rated accounting firm in North America with over 1100 5-star verified Google reviews across all locations. GTA Accounting has also won awards on Clutch 2 years in a row, featured in the Toronto Star and is one of the Best Companies for 2022 on "ThreeBest Rated".
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How GTA Accounting Helps Ecommerce Businesses
Running an online store creates accounting work that most businesses never see. Platforms pay you net of fees and refunds. Sales arrive through several gateways, often in two currencies. Inventory sits in warehouses you don’t operate, and your GST/HST follows your customers from province to province.
Our accounting services for ecommerce businesses bring all of this into one set of books and one set of filings. Whether you run a single store or sell across several marketplaces, you get accurate monthly numbers and tax filings you can rely on.
Accounting & Tax Advisory Services
Monthly Bookkeeping and Reconciliation
We reconcile every payout, whether ShopifyPayments, PayPal, Stripe, Amazon settlements, eBay payouts or Etsy Payments,back to gross sales, fees, refunds, chargebacks and tax. Your books show whatyou actually sold and what each platform kept, not only what reached the bank.We work in QuickBooks Online or Xero, connected to your platforms through toolssuch as A2X.
Inventory and Cost of Goods Sold
We value inventory each month at landed cost(product, freight, duty and brokerage) and match it to units sold, so yourgross margin is accurate by product and by channel. USD and CAD transactionsare recorded consistently, with exchange differences kept separate.
GST/HST and Provincial Sales Tax
Online sellers must register for GST/HST onceworldwide taxable sales go over $30,000 in a calendar quarter or over fourconsecutive quarters, and charge the rate of the customer’s province. SinceJuly 2021, marketplaces such as Amazon, eBay and Etsy have had to collectGST/HST for sellers who aren’t registered, and some collect more widely thanthat. Once you are registered, we keep marketplace-collected tax separate so itisn’t remitted twice.
Corporate and Personal Tax
We prepare T2125 statements for sole proprietorsand T2 corporate returns, with year-end financial statements. As your storegrows, we’ll advise on whether and when incorporating makes sense.
Accounting for Canadian Businesses Selling inthe US
Most Canadian online stores start selling to UScustomers before they plan for it. We handle the US obligations that come withit, alongside your Canadian books and returns.
Accounting for US Businesses Selling in Canada
We work remotely with US ecommerce businesses that sellto Canadian customers or hold inventory in Canada.
GST/HST for Inventory in Canada
If your inventory is in a Canadian fulfilmentcentre and you sell it through your own website, you generally must registerfor GST/HST once those sales exceed $30,000 over 12 months. If you sell onlythrough a marketplace, the platform generally collects the tax for you. Manysellers register anyway, because only registrants can recover the import GSTpaid when inventory enters Canada. Goods shipped from the US directly toCanadian customers are generally taxed at the border instead.
Canadian Tax Returns and Bookkeeping
A non-resident corporation that carries onbusiness in Canada must file a Canadian T2 return, even when the Canada–US taxtreaty means no Canadian tax is owed. We assess whether that applies to you,prepare the return, and keep Canadian-dollar books for your Canadian activity.
Americans Who Own a Canadian Business
If you’re a US citizen with a Canadian company,we prepare the company’s Canadian returns alongside your US filings, includingthe US reporting on your Canadian corporation, so both sides are plannedtogether.
Accounting & Tax Advisory Services
Amazon
Settlement reconciliation, FBA fees, inventoryacross fulfilment centres.
Shopify
Payouts across gateways, Shopify tax settings,multi-province GST/HST.
eBay
Payouts, final value fees on shipping and tax,eBay-collected sales tax.
Etsy
Etsy Payments, handmade cost of goods, Etsy’sGST/HST collection.
Your own website
WooCommerce, BigCommerce, Wix and others.
Selling on more than one platform? We consolidate everychannel into one set of books.
What a GTA Ecommerce Accountant Does for You
A general bookkeeper records deposits. An ecommerceaccountant reconciles them back to sales, fees and tax on each platform, valuesinventory properly, and knows when your business has crossed a GST/HST,provincial or US sales tax threshold. That shows up in your margins, your taxbills and your compliance on both sides of the border.
With GTA Accounting, you get books that reconcile to yourplatforms, sales tax registered and filed where you owe it, and tax planningahead of decisions like incorporation or US expansion.
Why Online Sellers Choose GTA Accounting
• Chartered Professional Accountants. Your file is overseen by a named CPA.
• One team for Canada and the US. Your Canadian returns and US filings are prepared together, so the numbers agree.
• Remote service across Canada, with offices in Toronto and Mississauga. We also work with US businesses selling into Canada.
• Straight answers. Whether it’s a US company, a second registration or a new structure, we’ll tell you when you don’t need it.
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Frequently Asked Questions
Do I need an accountant for my online business?
If you sell on one platform, only in Canada, and underthe GST/HST threshold, you may not yet. Once you add channels, hold inventory,register for GST/HST or sell into the US, the bookkeeping and filings usuallybecome worth handing over.
Which platforms collect GST/HST for me?
It differs. Amazon and Etsy collect GST/HST on Canadianorders when you don’t have a GST/HST number on file with them. eBay says itcollects Canadian sales tax on sales within Canada whether or not you’reregistered; if you are registered, how those sales are reported on your GST/HSTreturn needs to be reviewed for your situation. Shopify doesn’t collect orremit anything; it calculates tax at checkout from your settings, and filing isyours.
Do you work with online sellers outside Toronto?
Yes. We work remotely with ecommerce businesses acrossCanada, and with US businesses selling into Canada. Our offices are in Torontoand Mississauga.