Meet Your New Finance Team

A Healthy Business Solution

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

Get the right FIT but pay less than hiring in-house.. with better results and a whole lot less stress. You are no longer alone!

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

Toronto CEO & Entrepreneur

FIT lets you create your own Finance Team. Tell us your goals and the expertise you need – and we’ll build it!

Get Started Now!

Bookkeeping Department

  • Accounts Payable
  • Accounts Receivable
  • Payroll
  • Government remittances (HST, WSIB, EHT)
  • Monthly Financial Reporting
  • CRA representation

Accounting & Tax Specialists

  • Year-end Financial Statement (Notice to Reader)
  • Corporate Tax Return (T2)
  • Tax Planning & Minimization
  • Audit and Review Level Assurance
  • Audit Support

Part-time CFO

  • Proactive guidance from your trusted advisor
  • Budgeting and cash flow forecasting plus financial modeling
  • Gross margin analysis by product line, liquidity ratios
  • Goal Setting
  • Board meeting attendance
  • Transaction advisory (liquidity events, contracts, etc.)
  • Assistance with securing financing
Accounting Technology

Your Cloud Accounting Platform:

FIT for Purpose

We’ll analyze your current system and put together a fully-customized, state-of-the-art cloud bookkeeping platform. YES, we work with Shopify, Stripe, Amazon, and other modern apps that help power your organization. Our tech stack is economical, easy to use, and provides bank level security with a ton of efficiencies. Plus migration is a cinch (we promise).

Is FIT for you?

FIT was created for the following businesses and not-for-profit organizations:

  • No internal accounting team OR needing to make a staff change
  • Will benefit from a part-time CFO
  • Looking to reduce overhead costs
  • Open to modern technologies
  • Seeking world-class service from great people

If this sounds like YOUR business or nonprofit – contact us to find out how FIT will meet your needs.

Get Started Now!

We have answers!

What is the difference between bookkeeping and accounting services?

Bookkeeping Services: Processing the monthly transactions of your business. This can include payroll and also monthly financial reporting.

Accounting Services: Processing your year end to create a financial report (either a Compilation – formerly Notice to Reader, Review or Audit) and a corporate tax return (T2) required for lending organizations, the Canada Revenue Agency and other interested parties.

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?

Pricing is based on the services you need, the number of transactions you generate per month and how many different banking accounts and/or credit cards are used in the business.  Why? We’re trying to understand the time required to process and reconcile so that we can give every customer a fair and accurate monthly fee.

Our bookkeeping service packages start at 1,500 per month plus HST and go up based on the service mix, transaction volume, and resources required. 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 (like cash flow management, tax risk mitigation) but not interested in hiring a fulltime in-house CFO to the tune of $200K/year (especially when you consider the added costs of other finance team members like a controller or bookkeeper)
  • 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

Our packages start at $1,500/month.

Why should businesses and nonprofit organizations outsource their finance needs?

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.

Stern Cohen FIT bookkeeping specialist holding a cup of coffee

Client Reviews

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

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“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 this without the support and advice we received from Stern Cohen.”

Jay Eckert Owner, Parachute Design

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

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.

Brian Katz YWCA Canada

Exceptional service, accuracy, and prompt turn around times.

Nori Syriopoulos Danforth Neighbourhood Dental Centre