QuickBooks Online is the most widely used small business accounting software in Canada. It handles invoicing, expense tracking, payroll, HST/GST filing, and financial reporting — all in one cloud-based platform. But it's not cheap, and for very small businesses, free alternatives like Wave may be sufficient. Here's our full 2025 review.
KOHO combines a no-fee bank account with built-in spending tracking and budgeting. Use code 45ET55JSYA for a sign-up bonus.
Get KOHO Free — Use Code 45ET55JSYA| Plan | Monthly Cost | Best For |
|---|---|---|
| Simple Start | ~$20/mo | Sole proprietors, basic tracking |
| Essentials | ~$35/mo | Growing businesses, 3 users |
| Plus | ~$50/mo | Inventory, project tracking, 5 users |
| Advanced | ~$90/mo | Larger businesses, 25 users |
QuickBooks frequently runs promotions — 50% off for 3–6 months is common for new subscribers. Prices above are approximate standard rates; check QuickBooks.com/ca for current pricing.
| Feature | QuickBooks Online | Wave Accounting |
|---|---|---|
| Price | $20–$90/mo | Free |
| Invoicing | Excellent | Good |
| GST/HST tracking | Excellent | Good |
| Payroll | Yes (add-on) | Yes (paid add-on) |
| Inventory | Yes (Plus+) | No |
| Bank feeds | Excellent | Good |
| Integrations | 700+ | Limited |
| Best for | Growing businesses | Freelancers, very small biz |
FreshBooks is a Toronto-based alternative with a strong focus on service-based businesses and invoicing. QuickBooks is more comprehensive for businesses that need inventory management, complex reporting, or multiple users. FreshBooks is generally considered easier to learn. QuickBooks is more powerful at scale.
QuickBooks Online is the most capable small business accounting platform in Canada. If your business is growing, has employees, or your accountant recommends it, the investment is justified. For solopreneurs and freelancers with simple needs, Wave Accounting offers most of the essential features for free. The right choice depends entirely on your business complexity and growth trajectory.