Check how many years it takes for set-up and migration costs of accounting software, bank feeds or receipt capture to be repaid by lower fees and time saved.
This calculator answers one question: does moving your corporation's bookkeeping to automated software pay for itself, and how fast? Enter the one-time cost of setting it up (data migration, a bookkeeper's clean-up hours, connecting bank feeds, training), any grant you actually received, and your net yearly saving.
Net yearly saving = (lower bookkeeping and year-end fees) + (your own hours saved x what an hour of your time is worth) - (new software and app subscriptions). Be honest about subscriptions: receipt capture, payroll and payments add-ons are often billed separately.
Formula. Payback is the point where the cumulative saving, growing by the percentage you enter each year, equals the net set-up cost. Net saving over the period = cumulative saving over the years you compare - net set-up cost.
Worked example (illustrative). Set-up costs $2,500. The accountant expects to cut year-end hours enough to save $900, the owner saves 40 hours a year valued at $40 an hour ($1,600), and new subscriptions cost $700. Net saving = $900 + $1,600 - $700 = $1,800 a year. With 3% growth the set-up is repaid in about 1.4 years, and the five-year net saving is roughly $7,060.
Limits. The calculator does not discount future savings and cannot tell you whether the saving will happen. Ask your accountant in writing how the fee changes if records arrive reconciled. See the automation payback guide.
Fees, Cost Drivers and 2026 Rules
How cloud accounting, bank feeds, receipt capture and connected apps change bookkeeping and accountant fees for a Canadian corporation, with CRA record rules to keep in mind.
Worked Estimates and Checklists
Calculate the payback period of moving a Canadian corporation to cloud accounting with bank feeds and receipt capture, with three illustrative scenarios including one that loses money.
Mistakes, Penalties and Official Sources
The most common errors automated bookkeeping creates for Canadian corporations, how they affect GST/HST and ITC claims, the CRA's invoice thresholds, and a monthly review routine.
