Yes. 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.
Outsourced accounting, tax and bookkeeping for growing Toronto businesses. Get a CPA-led finance team for less than hiring in house.
Accounting and Bookkeeping Services with CPA Oversight
We’re your Finance Team: fractional bookkeeping, accounting, tax and advisory. Get timely reporting, continuity, and a skilled team that can support your decision making year-round.
The team at Stern Cohen has been instrumental in helping us grow our business. Since beginning our relationship with them eight years ago, we’ve nearly tripled in size — due in large part to their sound advice and guidance.
Bob Cunningham, ALQUEMY Inc.Bookkeeping & Payroll
- Dedicated bookkeeping specialist and team back-up
- Accounts payable and receivable
- Reconciliation of business transactions (bank account & credit cards)
- Posting of sales and reconciliation of payments
- Payroll services, EHT/WSIB, T4’s
- Monthly financial reporting (income statements, KPI’s, etc.)
Accounting & Tax
- Year-end Financial Statements – Compilation, Review or Audit
- Corporate (T2) and Personal Tax (T1) returns
- HST recording, remittance support and filing to avoid CRA penalties
- Tax planning & minimization for business owner(s)
- Audit support
- CRA representation
Fractional CFO & Advisory
- Guidance from a trusted CPA firm to make informed decisions
- Tax strategies from our Tax and Estate Planning specialists
- Budgeting and cash flow forecasting of financial data
- Gross margin analysis by product line, liquidity ratios
- Financial performance goal setting
- Transaction advisory (liquidity events, contracts, etc.)
- Assistance with securing financing
A Cloud Platform to
Meet Your Business Goals
Our cloud bookkeeping solution is economical and provides bank level security. We work with QuickBooks Online and leading business apps including Shopify, Amazon, Stripe, Square, PayPal, Wagepoint, Dext, Plooto and QuickBooks Time. Gain efficiency and clarity with our platform.
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 fractional CFO advice from time to time
- who’d like to reduce overhead costs
- who want world-class service from industry professionals
Contact us to learn more.
Learn moreFAQ
Guidance on accounting and bookkeeping services in Toronto.
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 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.
Typically, our clients are:
- seeking more sophisticated advice on a monthly basis but not interested in hiring a fulltime in-house CPA, Controller or CFO;
- spending too much time overseeing the “back-end” of the 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 were not aware of tax requirements and deadlines;
- paying your accountant extra to correct mistakes in your bookkeeping at year end and finding out too late that you’ve missed out on tax savings opportunities.
Why should businesses and nonprofits outsource their bookkeeping to professionals?
Unfortunately, good bookkeepers, controllers and CFOs are in high demand and extremely short supply. The best (most affordable, easiest and most effective) solution is to outsource to a trusted, capable firm you can work with long-term. An outsourced solution can also scale with your organization as it grows. 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?
Our specialist team can support your company’s growth or expansion.
Four 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 grow their companies or nonprofits.
Money: Our full-service model will save you money because you will have a full finance team working fractionally. That means you pay a fraction of the cost of full-time staff!
Expertise: 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.
Client Reviews
Selecting an accounting firm is an important decision. Find comfort in the words of our clients.
Read more reviews
The team at Stern Cohen has been instrumental in helping us grow our business. Since beginning our relationship with them eight years ago, we’ve nearly tripled in size — due in large part to their sound advice and guidance. Our net worth, liquidity, and profitability have all grown significantly as a result. Great people, and always a pleasure to deal with.
Bob Cunningham
Owner, ALQUEMY Inc.
The team at Stern Cohen has been wonderful to work with. We’ve been a client since 2019 and they have supported us through massive organizational growth and change. I would recommend Stern Cohen’s services to anyone looking for external accounting support!
Erin O'Hanley
Director of People Operations and Finance, Venture for Canada
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.
Jay Eckert
Owner, Parachute Design
