NorthOS
- Price (CAD/mo)
- $12
- Free tier
- No (14-day trial)
- Built for
- Canadian sole proprietors filing a T2125
- T2125 mapping
- Yes, every expense
- Mileage included
- Yes, unlimited
- GST/HST threshold tracker
- Yes, rolling 4-quarter
Buyer's guide
The best bookkeeping software for Canadian real estate agents (2026)
A realtor's books have a particular shape: commission income that arrives in lumps, HST that usually applies to it, a long tail of deductible expenses, and a car that doubles as an office. This page ranks the usual bookkeeping candidates for that specific job, and names what each one genuinely does best.
The short answer
If you are a self-employed agent filing a T2125 under your own name, NorthOS is the best fit. Commission revenue is tracked against the $30,000 GST/HST registration threshold on a rolling four-quarter basis, every expense from desk fees to staging maps to its CRA T2125 line as you enter it, and unlimited mileage tracking is included for showing-heavy weeks. $12 CAD a month, hosted in Canada.
That is the solo-agent answer, not the every-agent answer. If you run a team with payroll, or you have incorporated as a PREC and file a T2, QuickBooks Online or Xero with an accountant is the right shape, and the ranking below says so.
The bookkeeping tools agents compare, side by side
The three columns on the right are the realtor-shaped parts of the job: the T2125, the car, and the HST threshold. That is where the tools separate.
| Tool | Price (CAD/mo) | Free tier | Built for | T2125 mapping | Mileage included | GST/HST threshold tracker |
|---|---|---|---|---|---|---|
| NorthOS | $12 | No (14-day trial) | Canadian sole proprietors filing a T2125 | Yes, every expense | Yes, unlimited | Yes, rolling 4-quarter |
| QuickBooks Online | $20 (Lite) to $220 (Advanced) | No (30-day trial) | Small businesses with staff and payroll | No | Yes, mobile app | No |
| Wave | Free, or ~$25 (Pro) | Yes (Starter) | Generic small business, invoicing-first | No | Not advertised | No |
| FreshBooks | $26 (Lite) | No (paid) | Service businesses that bill clients | No | Yes, mobile app | No |
| Xero | $25 (Starter) | No (30-day trial) | Accountant-led small businesses | No | Not advertised | No |
| Spreadsheet | Free | Yes | Whatever you build by hand | Manual | Manual | Manual |
QuickBooks Online
- Price (CAD/mo)
- $20 (Lite) to $220 (Advanced)
- Free tier
- No (30-day trial)
- Built for
- Small businesses with staff and payroll
- T2125 mapping
- No
- Mileage included
- Yes, mobile app
- GST/HST threshold tracker
- No
Wave
- Price (CAD/mo)
- Free, or ~$25 (Pro)
- Free tier
- Yes (Starter)
- Built for
- Generic small business, invoicing-first
- T2125 mapping
- No
- Mileage included
- Not advertised
- GST/HST threshold tracker
- No
FreshBooks
- Price (CAD/mo)
- $26 (Lite)
- Free tier
- No (paid)
- Built for
- Service businesses that bill clients
- T2125 mapping
- No
- Mileage included
- Yes, mobile app
- GST/HST threshold tracker
- No
Xero
- Price (CAD/mo)
- $25 (Starter)
- Free tier
- No (30-day trial)
- Built for
- Accountant-led small businesses
- T2125 mapping
- No
- Mileage included
- Not advertised
- GST/HST threshold tracker
- No
Spreadsheet
- Price (CAD/mo)
- Free
- Free tier
- Yes
- Built for
- Whatever you build by hand
- T2125 mapping
- Manual
- Mileage included
- Manual
- GST/HST threshold tracker
- Manual
“Free tier” means an ongoing $0 plan, not a time-limited trial. Prices are regular monthly rates as of 2026, in CAD, before common introductory promotions. “Mileage included” reflects what each vendor advertises for its listed plans. Pricing changes often, so check each provider directly: QuickBooks, Wave, FreshBooks, and Xero.
How each tool ranks for the realtor job
Ranked for a self-employed Canadian agent filing a T2125 and tracking HST on commissions. Each entry names what the tool genuinely does best, because several of them are the right answer for a different kind of agent.
1.
NorthOS
Wins at: the solo agent's T2125, HST, and car
Built for the sole-proprietor filing job that most licensed agents actually have. Commission revenue counts against the $30,000 GST/HST threshold on a rolling four-quarter basis, expenses land on their CRA T2125 lines as you enter them, vehicle expenses use your business share of driving with unlimited mileage tracking included, and the Quick Method calculator covers every province and territory. It does not do payroll or corporate books, because a solo T2125 filer does not need them. $12 CAD a month, hosted in Canada.
2.
QuickBooks Online
Wins at: Agents building a team, or working accountant-led
QuickBooks Online is the most complete platform on this list, and for some agents that is exactly right. If you run a team with an assistant on payroll, or your accountant manages your books and wants QuickBooks files, it earns its price. Even the entry-level QuickBooks Lite plan at $20 CAD a month is invoicing and sales-tax first rather than built around the T2125, so for a solo agent the extra capability mostly sits unused while costing nearly twice as much as NorthOS.
Read the full QuickBooks Online comparison3.
Wave
Wins at: Free basics for a brand-new licensee
Wave's Starter plan is free for invoicing and basic accounting, and Wave is Canadian, founded in Toronto and owned by H&R Block since 2019. For an agent in their first year, before commissions are steady, free is a defensible place to start. What Wave does not advertise is T2125 line mapping, a GST/HST threshold tracker, or mileage tracking, and automatic bank import sits on the paid tier. Those gaps are the exact shape of a realtor's books, so expect tax season to stay manual.
Read the full Wave comparison4.
FreshBooks
Wins at: Polished client billing
FreshBooks is invoicing-first software for service businesses that bill clients, with time tracking and client management built in. The Lite plan starts at $26 CAD a month for up to five billable clients. A realtor's income mostly arrives as commission through the brokerage rather than through invoices the agent sends, so FreshBooks' best feature set is aimed at a different business shape. It does include mileage tracking in its mobile app, but it does not advertise T2125 line mapping or a GST/HST threshold tracker.
Read the full FreshBooks comparison5.
Xero
Wins at: Accountant-led double-entry books
Xero is proper double-entry accounting software and it wins when a bookkeeper or accountant runs your books, which is common for incorporated agents. The Starter plan is $25 CAD a month and caps you at 20 invoices and 5 bills a month, which matters little for commission income but shows who the product is for: accountant-led small businesses, not a solo T2125 filer tracking commissions, kilometres, and HST.
Read the full Xero comparison6.
A spreadsheet
Wins at: Cost and control when commissions are rare
A spreadsheet is free, and for an agent who closed a deal or two this year it can genuinely be enough. The realtor problem is volume in the expense column, not the income column: fuel, client lunches, staging, advertising, desk fees, and lockbox subscriptions pile up across the year, and each belongs on a specific T2125 line with its GST/HST portion tracked. Keeping all of that correct by hand in one file is where spreadsheets fail agents at tax time.
Read the full spreadsheet comparisonA note on personal real estate corporations
If you have incorporated as a PREC, your corporation files a T2 return and needs proper double-entry books, which is QuickBooks Online or Xero territory, usually with an accountant involved. This ranking is for the far more common case: a licensed agent operating as a sole proprietor and reporting commissions on a T2125 with their personal return.
The tax rules behind a realtor's books
The ranking comes out the way it does because an agent's books are shaped by a few specific CRA rules. These plain-language guides explain them.
- The T2125 guide for Canadian sole proprietors covers the form commission income and expenses land on.
- When to register for GST/HST in Canada explains the $30,000 threshold commissions count toward.
- Vehicle expenses for self-employed Canadians covers the business-use share behind every showing kilometre.
- The best bookkeeping software for Canadian sole proprietors is the profession-agnostic ranking, if you want the wider view.
Frequently asked questions
What is the best bookkeeping software for a Canadian real estate agent?
For a self-employed Canadian agent who files a T2125 and tracks GST/HST on commissions, NorthOS is the closest fit at $12 CAD a month. It maps expenses like brokerage fees, advertising, and client meals to their CRA T2125 lines, tracks commission revenue against the $30,000 GST/HST registration threshold on a rolling four-quarter basis, and includes unlimited mileage tracking for showing-heavy weeks. QuickBooks Online is the better pick for agents with staff on payroll or accountant-led books, and Wave covers free basics for a brand-new licensee.
Do real estate agents charge GST/HST on commissions in Canada?
Real estate commissions are generally taxable for GST/HST purposes. Like other self-employed Canadians, an agent who crosses the $30,000 small-supplier threshold over four rolling calendar quarters generally must register and start charging GST/HST on commissions, and given typical commission sizes many agents cross it quickly. The registration timing rules have real consequences, so our guide on when to register for GST/HST walks through how the threshold works.
What expenses can a real estate agent deduct on a T2125?
Common deductions for agents include brokerage and desk fees, licensing and association dues, advertising and marketing, client meals (subject to the CRA meals limit), vehicle expenses based on the business share of driving, home office costs, staging, photography, and software subscriptions. Each belongs on a specific line of the T2125, which is why software that maps expenses to CRA lines as you enter them saves real time in April. Our T2125 guide covers the form line by line.
What if I work through a personal real estate corporation (PREC)?
A PREC is a corporation, and it files a T2 corporate return rather than a T2125 on your personal return. NorthOS is built for sole proprietors filing a T2125, so if you have incorporated, proper double-entry software like QuickBooks Online or Xero, usually alongside an accountant, is the right shape. If you are licensed but have not incorporated, you are almost certainly a sole proprietor filing a T2125, which is the exact job NorthOS is built for.
Is there free bookkeeping software for real estate agents?
Wave's Starter plan and a plain spreadsheet are the free ongoing options. Both can hold a realtor's books, but neither advertises T2125 line mapping, a GST/HST threshold tracker, or mileage tracking, so the tax-shaped parts of an agent's bookkeeping stay manual. Paid tools built for the job start at $12 CAD a month with NorthOS, which includes all three.
This article is for informational purposes only and is not tax advice. Confirm your situation with the CRA or a professional.
Bookkeeping shaped like a realtor's year.
NorthOS is bookkeeping and tax compliance for Canadian sole proprietors. Commission tracking against the GST/HST $30,000 threshold, T2125 expense mapping, unlimited mileage, and the Quick Method for every province and territory. $12 CAD a month.