Local Accounting

Name

Local Accounting

Legal name

Local Accounting Inc.

Website

https://localaccounting.ca

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Victoria

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Bookkeeping Services: Recurring monthly and quarterly bookkeeping packages providing ongoing financial record management for small businesses.
2. Tax Preparation Services: One-time tax preparation services including Personal T1, Self-Employment T1, and Corporate T2 income tax returns.
3. Business Setup Services: One-time services including new business setup in QuickBooks Online, payroll setup, and GST/PST/HST filing.
4. Business Mentoring: Advisory services including business startup guidance and mentoring for bookkeepers starting their own practice.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Local Accounting is a Canadian accounting firm that provides bookkeeping, personal and corporate income tax preparation, payroll setup, new business setup, GST/PST/HST filing, and business mentoring services to small businesses, self-employed individuals, and corporations across Canada. The firm operates from offices in Victoria, BC and Ottawa, ON, using QuickBooks Online as its core platform for client bookkeeping and CRA compliance. Services are offered as recurring monthly/quarterly bookkeeping subscriptions or one-time engagements with publicly listed flat fees for tax returns and setup work.

Product overview

Local Accounting is a local accounting firm providing small business accounting services across Canada. The company operates as a single-service firm rather than a platform-plus-modules architecture, offering a portfolio of complementary services organized into three main categories: (1) Bookkeeping Services (Monthly and Quarterly Bookkeeping Packages), (2) Income Tax Preparation (Personal T1, Self-Employment T1, and Corporate T2), and (3) One-Time Services (New Business Setup, New Payroll Setup, GST/PST/HST Filing). Additional offerings include Business Mentoring services for entrepreneurs and bookkeepers, as well as CRA compliance services. The firm serves clients located in Victoria, BC and Ottawa, Ontario.

Differentiator

Problem solved

Functional benefit

Products and services

• Monthly Bookkeeping Packages
• Quarterly Bookkeeping Packages
• New Business Setup
• New Payroll Setup
• GST/PST/HST Filing
• Personal T1 Income Tax Return
• Self-Employment T1 Income Tax Return
• Corporate T2 Income Tax Return
• Business Start Up Mentoring
• Bookkeepers Mentoring
• CRA Compliance Services

Quantifiable outcome

• One customer reported saving approximately $10,000 in their 2021 financial year due to attention to detail that previous service provider overlooked

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators1 record

Recent moves4 records

Expansion highlights4 records

Emerging players

• Intuit QuickBooks Live: Intuit's own bookkeeper-matching service built on top of QuickBooks Online - the same core platform Local Accounting uses. Direct overlap with the firm's core bookkeeping offering, with significant scaling potential via Intuit's distribution.
• Wealthsimple: Canadian fintech whose Wealthsimple Tax product automates T1 filing - directly competing for the same personal tax customers Local Accounting serves at the entry level.
• FreshBooks Partners: Cloud accounting/invoicing platform serving freelancers and small businesses, with a partner accounting network offering bookkeeping + tax services comparable to Local Accounting's SMB offering.
• Xero Accountant Partners: Cloud accounting platform with an extensive partner/bookkeeper directory in Canada. Xero partners deliver the same QuickBooks/Xero-based SMB bookkeeping services as Local Accounting.

Broad incumbents

• H&R Block Canada: Large national tax preparation chain in Canada offering T1 and small business services. Overlaps with Local Accounting's personal and self-employed tax preparation offerings.
• BDO Canada: Large Canadian accounting firm offering bookkeeping, tax, and advisory services across SMB and corporate segments. Adjacent in service mix, though serving a broader and more upmarket client base.
• KPMG Canada: Big Four firm in Canada providing tax, bookkeeping, and advisory services. Same vertical, serving larger and mid-market clients rather than the small-owner niche Local Accounting targets.

Direct peers

• Pilot: US-based bookkeeping, accounting, and CFO services for SMBs and startups using QuickBooks Online. Closely mirrors Local Accounting's SMB bookkeeping + tax model, though at larger scale.
• Bench Accounting: Tech-enabled bookkeeping service for small businesses across North America, combining dedicated bookkeepers with software. Directly comparable to Local Accounting's monthly/quarterly bookkeeping value proposition.
• 1-800Accountant: Virtual accounting and tax service for SMBs and individuals in North America. Comparable small business bookkeeping + tax + advisory offering delivered remotely.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/local-accounting

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Local Accounting