As a startup founder, it may feel like you have the entire world on your shoulders. You’re consumed by the many challenges that stand in the way of bringing your idea to life. All the while managing the day to day operations of your business. Although there are risks, the benefits of having your own startup outweigh those risks. While setting up a new business, you are so preoccupied with administrative tasks that maintaining proper accounting records and bookkeeping can become overwhelming. However if you fail to keep your financial records straight that may become a hurdle when you look to legally incorporate your business or when CRA decides to audit your business.
While setting-up a new business, cash flow matters greatly as usually there are limited resources and more expenses. It is one of the major reasons why you should get a professional to take care of your accounting needs from the get go.
At TOP TIER ACCOUNTANTS  Chartered Professional Accountants we can help with everything from managing day to day operations, to working on your long-term strategy, all this while ensuring that your business is generating profits. In a rapidly changing world, business models keep on evolving, be it due to the changes in market trends or introduction of new technology, or in the new pandemic hit world we are living in. We keep track of all the startup systems and help you prepare your business for success with the latest technological tools, business expertise and a wide range of financial, accounting and taxation services. Our services not only include maintaining your books and financial records but also payroll services, your corporate and personal tax returns, any correspondence and audit assistance you may require with the regulatory authorities and tax planning.
Here is a list of services which TOP TIER ACCOUNTANTS  Chartered Professional Accountants can assist with:
1. Accounting Infrastructure Review and Process Implementation (1 month)

o Introduce team and assess current processes
o Review and document detailed processes within accounting infrastructure including bookkeeping, accounts payable, accounts receivable and tax compliance.
o Assess and finalize software and 'app stack' to bring forth efficiencies in the accounting processes, provide automations where applicable, improve controls, etc.
o Provide logins and training to internal team members
2. On-Going Monthly Managed Back Office Services

o Monthly data entry and transaction review
o Monthly bank account reconciliation
o Monthly credit card expense identification
o QuickBooks Online (QBO) review
o General Bookkeeping Support
o Management Reports Including Key Financial Data
o Accounts payable Support and Payables Management
Plooto payments set up and integration
o Pay vendors and contractors monthly
o General Accounting and Bookkeeping advice
o File HST and make tax payments (including HST and Corporate Tax)
o Bi-weekly payroll processing and recording
Maintaining Payroll Software
Adding New Employees
Managing bi-weekly payroll cycles
Record of Employments
3. Senior Financial Management Services

o Provide monthly financial reporting
o Provide monthly performance against budget reports
o Help manage cash flow
o Participate in the budgeting and forecasting process
o Coordinate with management team for ad hoc reports and advisory related to external fundraising requests
4. Attestation Letters

o Confirm financial health of the entity and sign off on an attestation letter for employee immigration purposes
o On-going updates to attestations as required
5. SR&ED and Grants Support

o Technical and SR&ED Tax Preparation including all schedules and reports
o Grant advisory and procurement services
o Eligibility assessment and education
o A Step-by-Step walk through of the claim process

  • Client
    Helping you increase your profit
  • Budget
  • Duration
    Accounting Services for Startups

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Welcome to Top Tier Accountants Chartered Professional Accountants We known for our professional development and tax accounting services we provide services to numerous industries and associations across the GTA. With locations in Toronto, Mississauga and Oakville to serve you better, we expertly guide you on developing and maintaining a healthy financial profile