Your one-stop shop for accounting and bookkeeping services Toronto.

Accounting and Bookkeeping Services Toronto


Stern Cohen FIT is your virtual accountant, bookkeeper and CFO on an industry-leading, cloud accounting platform.

Get the right FIT but pay less than hiring more staff… with better results and a lot less stress.

 

Stern Cohen was instrumental to our success at every step of the way.

 

Toronto Business Owner

Chartered Professional Accountants and bookkeepers who have got your back!

 

Free Consultation

Bookkeeping Tasks

  • Accounts payable and receivable
  • Bank reconciliation of business transactions & credit cards
  • Posting of sales and reconciliation of payments
  • Payroll processing
  • Monthly financial reports (income statements and balance sheet)
  • Maintenance of general ledger
  • Not-for-Profit accounting services

 

Business Accounting Services & Tax

  • Year-end Financial Statements – Compilation (Notice to Reader), Review or Audit
  • Corporate Tax Return (T2)
  • Government tax filing (GST, HST, WSIB, EHT)
  • Personal tax preparation services
  • Tax planning & minimization for business owner(s)
  • Audit support
  • CRA representation

Part-time CFO

  • Guidance from a trusted CPA firm to make informed decisions
  • Tax strategies
  • Budgeting and cash flow forecasting of financial data
  • Gross margin analysis by product line, liquidity ratios
  • Financial performance goal setting
  • Board meeting attendance
  • Transaction advisory (liquidity events, contracts, etc.)
  • Assistance with securing financing
Accounting Software Technology

A Cloud Platform to

Meet Your Business Goals


We’ll analyze your current system and put together a fully-customized, cloud accounting system to save your valuable time and produce accurate records. Our tech stack is economical, easy to use, and provides bank level security with a ton of efficiencies. And yes, we work with Shopify, Stripe, Amazon, and other modern apps that help power your organization.

 

Is Stern Cohen FIT for you?


Our accounting and bookkeeping service solution was created for businesses and nonprofits:

  • without in-house bookkeeping (or needing to make a staff change)
  • who might benefit from CFO advice from time to time
  • who’d like to reduce overhead costs
  • who want world-class service from great people!

Find out if we meet your business needs, contact us for an initial consultation.

 

Learn more
Questions

We have answers about accounting and bookkeeping services in Toronto!

 

Are there benefits to having the same accounting and bookkeeping provider?

When both accounting and bookkeeping services are provided by one firm, you’ll benefit from a reduced cost for year-end services due to fewer adjustments and a speedier correspondence between the two services.  As an added bonus, your Stern Cohen bookkeeper will have easy access to our tax specialist team for complex matters, tax questions and for taking advantage of tax planning opportunities.

 

How does pricing work?

Our bookkeeping service package pricing is based on the service mix and transaction volume. Flat monthly rates can include year-end accounting and tax compliance as well.  We like to think of ourselves as a one-stop shop. Every client’s needs are carefully pre-assessed so there are no surprises. Our clients appreciate knowing their bookkeeping and accounting spend in advance before they sign on with us.

 

What type of business or nonprofit is Stern Cohen FIT suitable for?

We work with:

  • businesses and nonprofits with revenues/budgets approaching one million and beyond.

Your business may have lost your Controller or CFO or you’re not able to find the right staff for your internal accounting and bookkeeping needs.

You might be:

  • seeking more sophisticated advice on a monthly basis but not interested in hiring a fulltime in-house CPA
  • spending too much time overseeing the “back-end” of your business
  • struggling with outdated accounting software and not able to leverage new, efficient cloud technologies
  • paying interest or penalties to the CRA because you or your staff weren’t aware of tax requirements and deadlines
  • paying your accountant extra to correct mistakes in your bookkeeping at year end and finding that you’ve missed out on tax planning opportunities to boot

 

Why should businesses and nonprofits outsource their bookkeeping to professionals?

Unfortunately, good bookkeepers, controllers and CFOs are in high demand and extremely short supply, especially in Toronto. The best, (and the most affordable and easiest) solution is to outsource to a firm you can work with long-term. An outsourced solution can also scale with your organization as it grows or fluctuates seasonally. Continuity for a business means you have coverage for your essential internal financial processes when key players go on vacation, take long term leave or move into a new role.

  • Is your business growing fast?
  • Do you have complex needs your old accountant or bookkeeper can’t handle?

We will support you with CPA advisory from a Senior Manager AND a Stern Cohen Partner to guide your business during growth or expansion.

 

Three more reasons our clients selected us...

Time: Many of our clients were spending a lot of time worrying about their internal bookkeeping, payroll and accounting. They were also spending a lot of time hiring and managing. After hiring us, they report they sleep better at night and have more time to spend on sales and growing their companies or nonprofits.

Money: Bookkeeping is an unregulated profession. This means it’s wise to hire a bookkeeper who has CPA oversight.

Service & Value: Read our Google reviews or check out our clients’ testimonials on this page. They describe the value we provide.

 

 

 

Accounting and bookkeeping FAQs

Client Reviews


Selecting an accounting firm is an important decision. Find out why we have earned world-class client satisfaction ratings.

 

Read more reviews
  • Parachute Design Group Logo – Bookkeeping client
  • Venture for Canada – Accounting and Bookkeeping Services Client in Toronto
  • YWCA Canada logo – Accounting and Bookkeeping Services Toronto Client
  • Danforth Neighbourhood Dental Centre bookkeeping client logo

When we came to Stern Cohen and joined the FIT program, I finally felt like someone had our back. Over the last few months, I think I’ve said to my wife on a weekly basis that I couldn’t imagine going through the pandemic without the support and advice we received from Stern Cohen.

 

client
Jay Eckert Owner, Parachute Design

The Stern Cohen team is incredibly responsive, thorough and professional. They are amazing to work with!

 

client
Scott Stirrett Executive Director and Founder

Working with Stern Cohen is like having an extra accounting department on hand to deal with both routine and special issues and they handle these with sensitivity and professionalism.

 

client
Brian Katz YWCA Canada

Exceptional service, accuracy, and prompt turn around times.

 

client
Nori Syriopoulos Danforth Neighbourhood Dental Centre
YouTube video