This guide is for Canadian small business owners who want full bookkeeping software, not only invoicing. That means software that pulls in transactions from your Canadian bank, produces a GST/HST return you can file with the CRA, handles a USD account if you have one, and gives your accountant a login. If you only need to send invoices, read our best invoicing software for Canadian contractors instead. If you are deciding between the two best-known names, see FreshBooks vs QuickBooks in Canada.
How we evaluated
This is a research-based review. We did not use these products hands-on. We compared six accounting tools sold in Canada using each vendor's Canadian pricing page, plan comparison tables, and official help documentation, plus the CRA and Revenu Québec rules they need to support.
We scored each tool on the things that matter for Canadian bookkeeping:
- Bank feeds: which plans import transactions automatically, and which major Canadian banks the vendor documents
- GST/HST return: does it produce a return report laid out for the CRA, or only a tax summary
- Quebec: QST returns and French-language support
- Multicurrency: which plan you need for a USD bank account or USD invoices
- Payroll: built in, a paid add-on, or a partner app
- Accountant access and CAD pricing at regular monthly rates
All prices are regular monthly list prices checked in September 2026. Several vendors were running first-term promotions when we checked; we note those separately and do not use them for comparison. To compare these plans with invoicing, payroll, and other software on the same basis, see our Canadian small business software price index.
| Feature | QuickBooks Online | Sage Accounting | Zoho Books | Xero | Wave | FreshBooks |
|---|---|---|---|---|---|---|
| Cheapest plan (per month) | CAD $20 (Lite) | $23 (Start) | CAD $0 (Free) | CAD $25 (Starter) | CAD $0 (Starter) | CAD $26 (Lite) |
| Free plan | ||||||
| Bank feeds on cheapest paid plan | 2 connections (Lite) | |||||
| GST/HST return report | Summary only | Summary only | ||||
| QST return report | Not documented | Not documented | ||||
| Multicurrency from | Essentials, $70 | Plus, $72 | Professional, $35 | Premium, $80 | Free plan | Per-client currency |
| Payroll | Add-on | Add-on | Not listed | Partner apps | Add-on (not in Quebec) | Partner add-on |
| French interface | Not stated | Not stated | Not stated | Invoices only |
1. QuickBooks Online: best for most small businesses with employees
QuickBooks' Canadian pricing page shows three plans side by side: EasyStart at CAD $30/month (one user plus your accountant, unlimited bank connections), Plus at CAD $110/month (five users, inventory, multicurrency, and up to 40 classes and locations), and Advanced at CAD $220/month (25 users). Further down the same page, under "More ways to get started" for solo and freelance businesses, it lists Lite from CAD $20/month, and Lite's own plan page gives the details: one user, two bank connections, and no accountant access. Intuit also still sells Essentials at CAD $70/month (three users, bill management, and multicurrency) from its own plan page, though it is left off the main pricing page. A 30-day free trial is offered as an alternative to the promotional price.
What stands out is that payroll lives in the same system. QuickBooks Payroll is a paid add-on: Core at CAD $30/month plus $5 per employee, Premium at $55/month plus $8 per employee, and Elite at $80/month plus $15 per employee. All three include Records of Employment and tax forms. If you have staff, one subscription and one login covers the books and the pay runs, which is the main reason we rank it first. Our best payroll software in Canada review compares it with standalone payroll providers.
For sales tax, QuickBooks prepares a GST/HST return line by line, with the balance owing at the bottom. Its help documentation says you then copy those amounts into your CRA account or the NETFILE form; it does not file for you. It also supports QST returns for Quebec, and the interface can be switched to French in the account settings.
Plan choice matters with QuickBooks. Multicurrency starts on Essentials at CAD $70/month, more than double EasyStart, so factor that in if a USD bank account is your main need; inventory is on Plus at CAD $110/month. Lite includes two bank connections and no accountant access, so EasyStart or higher suits full bookkeeping.
QuickBooks Online
Strengths
- Canadian payroll add-on with ROEs, in the same system
- Line-by-line GST/HST and QST return reports
- Accountant access from EasyStart up
- French interface available
- 30-day free trial option
Good to know
- Multicurrency starts on Essentials at CAD $70/month
- Payroll is an add-on from CAD $30/month plus per-employee fees
- Lite includes 2 bank connections; accountant access starts on EasyStart
- You file the prepared GST/HST return with the CRA yourself
QuickBooks Online
Read our full QuickBooks Online review for every plan, the payroll add-on, and how GST/HST and QST filing works.
2. Sage Accounting: best for bilingual and Quebec businesses
Sage Accounting has three plans on its Canadian pricing page: Start at $23/month for one user, Standard at $50/month with unlimited users, and Plus at $72/month, which adds multicurrency invoicing, multicurrency banking, and inventory. Every plan includes unlimited invoices, automatic bank reconciliation, GST/HST calculation, and a bilingual interface and support in English and French.
That last point is why Sage ranks second. It is the only tool here that lists French-language software and support on every plan, which matters if you or your staff work in French.
Sage also has the most complete published list of Canadian bank feeds we found. Its supported-banks list names RBC, TD Canada Trust, BMO, Scotiabank, CIBC, National Bank of Canada, and Desjardins. If you bank with Desjardins or National Bank, that is worth checking before you pick another tool.
For sales tax, Sage creates a GST/HST return from the CRA tab of its tax returns screen and produces a .TAX file you upload into tax filing software. Sage's help says not to upload that file directly to the CRA. PST and QST returns are created from a separate provincial tab, and you copy the values to the provincial tax authority's website.
Payroll is a separate Sage product that links to Sage Accounting. Payroll Essentials starts at $24.50/month including one employee, with more at $4.50 per employee per month. Higher tiers cost more per employee.
Sage Accounting
Strengths
- Bilingual English and French interface and support on every plan
- Unlimited users from Standard at $50/month
- Documented bank feeds for all big five banks plus National Bank and Desjardins
- Separate PST/QST return alongside GST/HST
- Payroll add-on that links to the books
Good to know
- Start plan is for one user; Standard adds unlimited users
- Multicurrency is on Plus at $72/month
- GST/HST .TAX file is uploaded through tax filing software
- Confirm the currency at checkout, as the pricing page does not label it
Sage Accounting
3. Zoho Books: best value and cheapest multicurrency
Zoho Books has the widest price range. The Canadian Free plan costs C$0 for one user plus one accountant and stays free as long as your revenue for the financial year stays under C$50K. It includes bank reconciliation, provincial and federal tax returns, and combined GST/QST returns, but not bank feeds. Invoices are capped at 1,000 per year.
Paid plans, billed monthly, are Standard at C$20/month (three users, bank feeds), Professional at C$35/month (five users, multicurrency, inventory, projects), and Premium at C$50/month (ten users, budgets, fixed assets). Annual billing lowers those to C$15, C$30, and C$40 per month. Elite (C$200/month) and Ultimate (C$350/month) add advanced inventory and analytics. Extra users are C$3 per user per month, billed annually.
The value case is clear: Professional at C$35/month is the cheapest plan on this list with full multicurrency, well below QuickBooks Essentials or Xero Premium. Zoho's help documentation says its GST/HST return report follows the lines on the CRA's return form, and its QST return follows Revenu Québec's form. Quebec users can generate a combined GST/QST return. You export the return and file it yourself, then mark it as filed.
Payroll sits outside Zoho Books. Zoho's Canadian Books pricing page lists no payroll option, so pair it with a separate payroll provider if you have staff. Our Zoho Books review covers the plans in detail, and Zoho Books vs Wave compares the two free options.
Zoho Books
Strengths
- Free plan for businesses under C$50K revenue, with accountant access
- Bank feeds from C$20/month
- Multicurrency from C$35/month, the lowest here
- GST/HST and QST returns laid out to government forms, plus combined returns
- Annual billing cuts prices further
Good to know
- Pair with a separate payroll provider; none is listed on the Canadian Books pricing page
- Free plan covers up to 1,000 invoices a year; bank feeds start on Standard
- You export returns and file them with the CRA or Revenu Québec yourself
- Many tiers to compare before you choose
Zoho Books
4. Xero: best for teams that want no per-user fees
Xero's Canadian plans are Starter at CAD $25/month, Standard at CAD $60/month, and Premium at CAD $80/month. Xero states there are no per-user licence fees, so you can add your bookkeeper, accountant, and staff without raising the bill. A 30-day free trial is available.
Starter includes 20 invoices and 5 bills per month, which suits lighter bookkeeping; Standard removes those caps. Multicurrency is on Premium.
Xero's sales tax coverage is the broadest on paper. Its Canadian site lists return reports for GST/HST, British Columbia PST, Manitoba RST, Saskatchewan PST, and Quebec QST, with default tax rates mapped to the return's lines or boxes. You still submit the numbers to the CRA yourself.
On bank feeds, Xero Central has direct-feed articles for Scotiabank and BMO. Other banks may connect through other methods, or you can import statement files (OFX, QIF, QBO, QFX, or CSV).
In Canada, Xero handles payroll through partner apps: its Canadian payroll page points to Wagepoint, PaymentEvolution, and Payworks. Xero's Canadian site does not advertise a French-language interface, so Quebec businesses working in French should confirm with Xero before signing up.
Xero
Strengths
- No per-user licence fees on any plan
- Return reports for GST/HST, BC PST, Manitoba RST, Saskatchewan PST, and QST
- Direct feeds documented for Scotiabank and BMO
- 30-day free trial
Good to know
- Starter includes 20 invoices and 5 bills a month; Standard removes the caps
- Multicurrency is on Premium at CAD $80/month
- Canadian payroll runs through partner apps
- Canadian site does not advertise a French interface
Xero
Read our full Xero review for plans, bank feeds, and sales tax reports in more depth.
5. Wave: best free option for sole proprietors
Wave, based in Toronto, has a Starter plan at CAD $0 with unlimited estimates, invoices, bills, and bookkeeping records. Pro is CAD $25/month, or CAD $250/year billed annually. Pro adds automatic bank transaction imports and categorization, unlimited receipt capture, multiple users, and lower card processing fees.
On the free plan, you enter or upload bank transactions yourself; automatic imports start on Pro. On Pro, Wave's bank connections run through Plaid, and Wave notes that not all financial institutions are supported.
Wave supports foreign currency invoices, bills, and bank accounts, and tracks exchange gains and losses. Its sales tax report summarizes tax collected and paid for each tax you set up, which you can use to fill in your return. It is organized by tax rather than by CRA line numbers, unlike the return reports in QuickBooks, Xero, Zoho Books, and Sage.
Payroll is an add-on at CAD $25/month base plus $6 per active employee and $6 per contractor paid. Wave says payroll is available in every province and territory except Quebec.
Wave
Strengths
- Free plan with unlimited invoices, bills, and bookkeeping records
- Toronto company with CAD pricing
- Foreign currency invoices and bank accounts supported
- Payroll add-on at CAD $25/month base
Good to know
- Automatic bank imports and multiple users start on Pro
- Sales tax report is a summary you use to fill in your GST/HST return
- Payroll covers every province and territory except Quebec
- Bank connections run through Plaid; check that your institution is supported
Read our full Wave review for what the free plan covers and when to upgrade.
6. FreshBooks: best if you mostly bill for your time
FreshBooks is invoicing-first software that has grown accounting features. Canadian pricing is Lite at CAD $26/month (5 billable clients), Plus at CAD $42/month (50 clients), and Premium at CAD $72/month (unlimited clients). Team members are CAD $13/month each, and there is a 30-day free trial with no credit card required.
For full bookkeeping, the key detail is that bank reconciliation, double-entry accounting reports, and accountant access start on Plus. On Plus and Premium you can invite up to 10 accountants at no extra cost. Its Sales Tax Summary report shows tax collected on sales and paid on expenses, one currency at a time. Currency and invoice language are set per client, with French among the default options.
Payroll is an add-on through PaymentEvolution. We cover FreshBooks in depth in our invoicing software review, where it is our top pick. For full bookkeeping it ranks sixth here because its sales tax output is a summary rather than a GST/HST return and its accounting features start on the CAD $42 plan.
FreshBooks
Strengths
- Invoicing, time tracking, and expenses built for service businesses
- Up to 10 accountants free on Plus and Premium
- Per-client currency and French invoices
- 30-day free trial, no credit card
Good to know
- Bank reconciliation and double-entry reports start on Plus
- Sales tax summary report rather than a GST/HST return report
- Payroll through the PaymentEvolution partner add-on
- Pricing is based on the number of billable clients
FreshBooks
Read our full FreshBooks review for plan-by-plan features and the billable-client model.
How to choose accounting software in Canada
Start with payroll. If you have employees, QuickBooks keeps payroll in the same system. Sage and Wave also sell payroll add-ons (Wave's does not cover Quebec). With Xero, Zoho Books, or FreshBooks, you will pay for a separate payroll provider and connect it.
Check your bank. Sage publishes the longest list of supported Canadian banks, including National Bank and Desjardins. Xero documents direct feeds for Scotiabank and BMO. If your bank is not listed, ask the vendor or plan on uploading statement files.
Decide how you want to prepare your GST/HST return. Since reporting periods beginning in 2024, most GST/HST registrants must file electronically. QuickBooks, Xero, Zoho Books, and Sage produce a return report you transfer to the CRA. Wave and FreshBooks give you a tax summary you work from. If you are not registered yet, start with our GST/HST registration guide and rates by province.
Price the USD account. If you hold a USD bank account or bill US clients in USD, compare the multicurrency tiers: Zoho Books Professional at C$35, QuickBooks Essentials at CAD $70, Sage Plus at $72, or Xero Premium at CAD $80.
Ask your accountant. Most accountants have a preferred platform. Starting in the system they already use can save you time and fees at year end. This review is general information, not tax advice; talk to an accountant about how your business should record and report sales tax.
Our verdict
4.5For most Canadian small businesses, especially those with employees, QuickBooks Online is the safest pick: GST/HST and QST return reports, accountant access from EasyStart, a French interface, and payroll with ROEs in the same system. Choose Sage Accounting if you work in French or bank with Desjardins or National Bank, and want unlimited users at $50/month. Choose Zoho Books if price matters most or you need a USD account without paying for a top tier. Choose Xero if you want to add your whole team without per-user fees. Choose Wave if you are a sole proprietor who wants to spend nothing, and FreshBooks if invoicing your time is most of your bookkeeping.
Frequently asked questions
Can accounting software file my GST/HST return with the CRA?
None of the six tools here file directly with the CRA. QuickBooks, Xero, Zoho Books, and Sage build a return report you copy into your CRA account or NETFILE (Sage also exports a .TAX file for tax filing software). Since periods beginning in 2024, most registrants must file electronically.
Which accounting software is cheapest in Canada?
Wave Starter and Zoho Books Free both cost CAD $0. Zoho's free plan is for businesses under C$50K in annual revenue, with bank feeds starting on the paid plans; Wave's free plan uses manual bank entry, with automatic imports on Pro. The cheapest paid plan with bank feeds is Zoho Books Standard at CAD $20/month.
Which accounting software handles USD accounts?
Multicurrency starts on Zoho Books Professional (CAD $35/month), QuickBooks Essentials (CAD $70/month), Sage Accounting Plus ($72/month), and Xero Premium (CAD $80/month). Wave supports foreign currency invoices and bank accounts on its free plan.
Which accounting software works in French?
Sage Accounting lists a bilingual English and French interface and support on every plan. QuickBooks Online can be switched to French in its settings. FreshBooks can send invoices in French per client.
Do I still need an accountant if I use accounting software?
Software keeps your books and prepares reports, but it does not decide how a transaction should be treated for tax. Most small businesses still use an accountant for year-end returns and tax planning.
Sources
- QuickBooks Online Canada plans and pricing (checked September 2026)
- QuickBooks Online Lite (Canada) (checked September 2026)
- QuickBooks Online Essentials (Canada) (checked September 2026)
- QuickBooks: Set up and use multicurrency in QuickBooks Online (Canada) (checked September 2026)
- QuickBooks Payroll Canada pricing (checked September 2026)
- QuickBooks: File sales tax in QuickBooks Online (Canada) (checked September 2026)
- Sage Accounting Canada pricing (checked September 2026)
- Sage Payroll Canada pricing (checked September 2026)
- Sage: List of supported banks for Sage Bank Feeds (checked September 2026)
- Sage: Sales tax returns (checked September 2026)
- Zoho Books Canada pricing (checked September 2026)
- Zoho Books: Tax returns for Canada (checked September 2026)
- Xero Canada pricing plans (checked September 2026)
- Xero Canada: sales tax reports (checked September 2026)
- Xero Canada: payroll partner apps (checked September 2026)
- Xero Central: Scotiabank direct feeds (checked September 2026)
- Wave pricing (checked September 2026)
- Wave payroll (checked September 2026)
- Wave Help Centre: Create a foreign currency invoice or bill (checked October 2026)
- Wave Help Centre: Difference between business, account, and transaction currency (checked October 2026)
- Wave Help Centre: Is Wave free? (checked October 2026)
- FreshBooks Canada pricing (checked September 2026)
- FreshBooks: How do I change my client's currency and language? (checked September 2026)
- CRA: How to file your GST/HST return (checked September 2026)
- Revenu Québec: Calculating the taxes (checked September 2026)
- Revenu Québec: GST/HST and QST (checked September 2026)