Aliu IsaAre you looking for someone who can manage your business’s finances? If so, you’d need the best accountants in Toronto to take care of that.
Luckily for you, we’ve already done half of the work. We’re here to share our picks for corporate firms that offer accounting services to businesses of all sizes in Toronto.
You’ll get to know more about them, along with the range of their services and what clients have said about them. Before that though, we’ll look at the average cost of hiring accountants in Toronto.
How Much is an Accountant in Toronto?
Most accounting firms charge business clients by the hour, with an average rate that ranges from $150 to $500 per hour.
However, there are several factors that determine the hourly rates of accounting services, such as the extent of work, experience of the accountant, size of the firm, and location. It’s safe to say that their hourly rate can easily go beyond $500.
It’s worth noting that there are separate charges if the accountant needs to do bookkeeping services as well. The hourly rate for bookkeeping typically ranges from $25 to $100 per hour.
Hourly rates mean that the total bill for the accounting and bookkeeping services provided will largely depend on how long it takes for the tasks. If the work is extensive, your accountant will need more time, resulting in higher fees.
If you’re lucky, the accountant will base the hourly rate on the size of your business. There are a few firms that do this considering that start-ups and small businesses obviously can’t afford above-average hourly rates.
Here’s a table featuring the accounting services that different business sizes need and the average monthly rate for those:
| TYPE OF BUSINESS | ACCOUNTING SERVICES | AVERAGE MONTHLY COST |
| Start-ups | Accounting system setup and training Accounting software Support for ongoing bookkeeping and accounting Yearly financial statements and tax returns | $300 to $1,300 |
| Small businesses | Accounting system setup and training Accounting software Support for ongoing bookkeeping and accounting Yearly financial statements and tax returns Payroll system setup and support | $600 to $1,500 |
| Medium-sized businesses | Monthly bookkeeping Monthly management accounts Sales tax filing Yearly financial statements and tax returns Payroll system setup and support | $1,000 to $1,500 |
| Large businesses | Weekly bookkeeping Posting bills and paying suppliers Sending invoices and collecting customer payments Monthly management accounts Sales tax filing Yearly financial statements and tax returns Payroll system setup and support | $2,000 to $2,400 |
The Best Accountants in Toronto
Now that you know how much to shell out for an accountant in Toronto, it’s time to show you our picks!
1. Small Business Tax Accountants (SBTA)
| SCOPE OF SERVICES | Bookkeeping, Accounting, Tax Planning, Estate Planning, Legal Structuring, Incorporation, Business Brokerage, Business Development, Business Franchising |
| PRICING | Contact for more details |
| WEBSITE | https://smallbusinesstaxaccountants.ca/ |
| ADDRESS | Head Office: 36 King Street East, 4th Floor, Toronto, ON M5C 1E5 For full list of locations go here |
| CONTACT DETAILS | Phone: (437) 538-3874 Email: [email protected] |
| OPERATING HOURS | Monday to Friday: 8:00 AM –4:30 PM |
Small Business Tax Accountants or SBTA was established by Peter Singleton and Rebecca Choi. As managing partners and co-founders, their main objective is to provide small business owners affordable tax preparation.
What makes SBTA unique is that their team is made up of a mix of franchisees, employees, subcontracted tax strategists, accounting and bookkeeping professionals. Each member has been vetted to make sure they have years of experience in the field of their focus.
With SBTA’s affordable rates, small business owners can focus their finances on other parts of their respective companies. Since clients don’t have to worry about exorbitant accounting costs, they can allot their funds toward advertising, marketing and other strategies to grow their business.
Moreover, SBTA has expanded its services to provide business owners more than just accounting. They can also handle business brokerage, business development, and business franchising, among many others.
If you own a small business and need to outsource your accounting needs, Small Business Tax Accountants is one of our top picks. They are reasonably priced, have multiple locations, and provide a range of services to help your business grow.
Pros
- Specializes in small businesses
- Multiple locations in Canada and abroad
- Affordable rates
- Large team of specialized professionals
- BBB Accredited with A+ rating
Cons
- Doesn’t handle large corporations, small businesses only
Customer Reviews
Let’s take a look at what their clients have to say:
“I have been using Peter Singleton since 2016 to aid in building my business. He has helped to educate and guide me as a mentor in many ways. I went from a few phone calls and only word of mouth referrals one year to almost 100 phone calls within 3 months the next season. Peter is a well educated, committed and experienced business owner who is an extremely valuable person to have on your team. I appreciate all the work he has done to help grow my business to what it is today.” – Ivor Lewis
“Small Business Tax Accountant Jordan was amazing! Apart from helping us with general bookkeeping he taught us how to maximize our software and gave us practical accounting advice. He was speedy and very meticulous. He answered all our questions and even gave us his contact info if we ever wanted to ask him anything about what he completed for us. I would definitely request his services again and I would definitely recommend Small Buisiness Tax Accountants.” – Parisa Jiwa
2. NRK Accounting
| SCOPE OF SERVICES | https://nrkaccounting.com/tax-accountant-toronto/ |
| PRICING | Call their hotline for more information |
| WEBSITE | https://nrkaccounting.com/ |
| ADDRESS | 40 Wynford Drive, Unit 108 North York, ON M3C 1J5 |
| CONTACT DETAILS | [email protected] | 416- 577-4301 |
| OPERATING HOURS | Contact for more information |
NRK Accounting stands as a beacon of reliability and expertise in the bustling landscape of accounting firms in Toronto.
With over 20 years of experience, NRK Accounting has earned a stellar reputation for providing top-notch accounting and tax services to individuals and businesses alike.
With a team of qualified and licensed tax accountants, NRK Accounting boasts extensive experience in handling a wide range of accounting and tax-related matters.
We like that their professionals bring over two decades of industry knowledge to the table, ensuring that clients receive accurate and reliable guidance tailored to their specific needs.
NRK Accounting offers a comprehensive suite of accounting services, including personal and corporate tax planning, bookkeeping, payroll, HST returns, tax audit assistance, and company incorporation services.
This breadth of offerings ensures that clients can rely on NRK Accounting as their one-stop solution for all their financial needs.
What we like about them is their personalized attention and hands-on support they receive from NRK Accounting.
Whether it’s for a small business or an individual tax filer, the team at NRK takes the time to understand each client’s unique circumstances and provides tailored solutions that align with their goals and objectives.
Pros
- Expertise and Experience
- Personalized Approach
Cons
- Office hours unavailable
Customer Reviews
Here are comments posted on Google Reviews:
“Who can say they had a pleasant experience catching up on tax preparation. I can! Farshid spent so much time with me.. was patient and never made me feel rushed. Work was done professionally and the final price was reasonable. I highly recommend their services.”
“Excellent service. Very timely response. Thanks to Farshid who made my experience so smooth and easy.“
3. Avalon Accounting
| SCOPE OF SERVICES | Accounting, bookkeeping, corporate accounting and tax returns, personal tax returns, accounting system setup, payroll setup and support, and online tax filing services |
| PRICING | Call their hotline for more details |
| WEBSITE | https://www.avalonaccounting.ca/ |
| ADDRESS | 2031 Store St, Victoria, BC V8T 5L9, Canada |
| CONTACT DETAILS | (855) 728-2566 [email protected] |
| OPERATING HOURS | Monday to Friday: 8:30 AM – 5:00 PM |
Avalon Accounting is based in Victoria, but services SMEs in Toronto, Winnipeg, Calgary, and Vancouver. It’s an all-around accounting firm that aims to help entrepreneurs by providing effective accounting and bookkeeping services.
We highly recommend it to start-ups and small businesses that don’t have a solid foundation when it comes to managing finances yet. It can help them set up a payroll system, file corporate tax returns, check inventory, or even give basic accounting advice.
Another thing we like about Avalon Accounting is how open it is to working with businesses from any type of industry, including retail, food and beverage, and tech, among others.
However, your business may get more from their accounting services if it’s a start-up or a small one because these are usually their clients.
Compared to most accounting firms though, Avalon Accounting uses fixed pricing instead of hourly rates. The good thing about this is that clients aren’t charged the moment the accountants pick the phone to answer their questions.
If you want to know more about how accounting works, there are even free accounting tips posted on their website. It’s their own way of helping local businesses understand the importance of hiring accountants in Toronto.
Pros
- Works with all types of businesses
- Wide service area
- Fixed pricing
- All-around accounting services
Cons
- No operations on weekends
Customer Reviews
Here are two comments posted on Google Reviews:
“Avalon truly has a client centered approach to accounting, and we feel that they really took the time to get to know us and our business so that they could really identify how to best serve our business. I am continually impressed with their services, and the effort they put into teaching us so that we can do better ourselves. I highly recommend Avalon Accounting to any small business owners, we are very happy clients!” -Tegan Holt
“I made one decision last year that greatly reduced my stress and anxiety as a business owner – hiring Avalon. Joe, Paul, Jennifer and team are not only responsive, but proactive, and have allowed me to spend more time on business growth, organization, and developing my team. They are true professionals that elevate their whole profession. Kudos to the team.” -A.J. Potrebka
4. Enkel
| SCOPE OF SERVICES | Accounting, bookkeeping, payroll, accounts payable, accounts receivable, fractional controller, and catch-up bookkeeping |
| PRICING | $500 to $1,000+ |
| WEBSITE | https://www.enkel.ca/ |
| ADDRESS | 900 Howe St #510, Vancouver, BC V6Z 2M4, Canada |
| CONTACT DETAILS | 604-259-6234 |
| OPERATING HOURS | Monday to Friday: 8:30 AM – 5:00 PM |
Like our previous pick, Enkel isn’t based in Toronto, but we added it here because it’s open to working with small to mid-sized businesses anywhere in the country. Here are other reasons it made the cut.
For one, it’s helped thousands of businesses from all sorts of industries, such as non-profit, eCommerce, technology, professional services, food and beverage, healthcare, property management, and foreign subsidies.
Second, it’s an accounting firm that lets businesses focus on their work while anything related to finance is handled by its team. You won’t have to worry about splitting your time and attention anymore.
Lastly, it hits the mark if what you’re after is customisable accounting solutions, so there’s no need to pay for accounting services that your business doesn’t actually need.
In terms of accounting technology, Enkel is quite impressive. It works with cloud-based applications to provide business clients with user-friendly payroll, human resources, expense management, and project management software.
Pros
- Customisable services
- Large accounting team
- Competitively priced packages
Cons
- Complaints about slow customer response
Customer Reviews
A client named Shawn Miller posted this comment on Google Reviews:
“Fire your Bookkeeper and Hire Enkel! We began working with Enkel in Dec 2017 and with in the first week we fired our current bookkeeper and moved everything over to Enkel. The value that they added to our business, and the systems they created in the 1st week far exceeded my expectations. They have been able to create a robust system that provides us with everything we need (and some), at a very reasonable price (less then our past bookkeeper). With Enkel I am confident that the work is being done correctly and I actually look forward to our monthly reports. Thanks to Chris for all the hard work and fast clear communication. I could not be happier. GREAT JOB!”
Meanwhile, Sanda Phillips said the following:
“I used to spend hours on bookkeeping every month and still worry about it’s quality for year-end reporting. For the past 10 months, the bookkeepers at Enkel have provided accurate and timely reports, and have helped with variance analysis. Since Enkel has taken over the bookkeeping, I can focus my full attention on growing our business!”
5. LW Accounting Services
| SCOPE OF SERVICES | Accounting, bookkeeping, tax preparation services, and CPA advisory service |
| PRICING | Call their hotline for more details |
| WEBSITE | http://www.lwaccounting.ca/ |
| ADDRESS | 25 Lascelles Blvd #408 Toronto, ON M4V 2C1 |
| CONTACT DETAILS | 647-560-6698 [email protected] |
| OPERATING HOURS | Monday to Friday: 9:00 AM – 5:00 PM |
With 38 years of combined field experience, the accountants at LW Accounting Services are more than willing to work with small to medium-sized companies that need financial advice and monitoring.
LW Accounting Services is a small accounting firm compared to our other entries, but what’s commendable about it is that it understands what fellow small businesses are going through. Its accounting services are a bit limited as well.
However, the coverage of its services include only the essentials, such as accounting, bookkeeping, managing payroll, and financial advisory. Its accounting team can’t help in setting up accounting software, but they can handle your finances the right way.
We can’t really recommend it to large enterprises considering that it may not have enough manpower to handle a really huge accounting task, but it’s always worth consulting with its accounting team.
Despite the limited services, we couldn’t help but add LW Accounting Services to our picks as we believe that it’d be a great match for start-ups and small businesses.
Pros
- Perfect for small to medium-sized companies
- More than 38 years of combined experience
- Can handle business from any industry
Cons
- Small accounting firm, so limited services
Customer Reviews
Here’s what past clients had to say about LW Accounting:
“LW Acct. Services provided me some much needed business consulting on how exactly to structure my startup’s finances so that we could come out of April 15th being as profitable as possible. I was presented with a lot of unique angles I wouldn’t have thought of otherwise, and will be using them come next tax season!” -Grace Nixon
“My husband and I have been using LW Bookkeeping services for afew years now and we are always very pleased with Lori’s organization, professionalism and speed. She is fantastic at her job and I highly recommend her services!” -Chase Hunter
6. GTA Accounting
| SCOPE OF SERVICES | Accounting, bookkeeping, payroll, business incorporation, cloud accounting, corporate tax return, estate planning, financial planning, international tax, not for profit, personal taxes, real estate tax, and US tax accounting |
| PRICING | Call their hotline for more details |
| WEBSITE | https://www.gtaaccounting.ca/ |
| ADDRESS | 250 Consumers Rd #501, North York, ON M2J 4V6, Canada |
| CONTACT DETAILS | 416-900-3826 [email protected] |
| OPERATING HOURS | Monday to Friday: 9:30 AM – 5:30 PM |
GTA Accounting is one of the top-rated accounting firms in the entire Greater Toronto Area, boasting an average rating of 4.9 out 5 based on 139 reviews on Google, which says a lot about the quality of its services.
If there’s one thing that sets it apart from other accounting firms, it’d have to be the range of its accounting services. Almost every accounting firm focuses on accounting and bookkeeping, but GTA Accounting combines those two with management consulting.
As a result, GTA Accounting can help in business incorporation, cloud accounting, estatement planning, international taxes, and payroll management as well. It’s among the few accounting firms that go beyond typical accounting solutions.
It’s also worked with thousands of companies from a long list of industries, including healthcare, education, manufacturing, real estate, food and businesses, and import and export, among others.
Another thing to know about this accounting firm is that it’s not just made up of chartered professional accountants. There also are tax consultants and management consultants on its team, allowing it to provide an extensive range of corporate services.
Obviously, GTA Accounting doesn’t have the cheapest accounting rates in Toronto, so you may want to think twice if you own a start-up or a small business. It’s extremely honest when it comes to its fees, though.
Pros
- Wide service areas
- Offers management consulting
- Works with businesses from most industries
- Goes beyond typical accounting services
Cons
- Rates aren’t budget-friendly
Customer Reviews
Take a look at these comments shared by business clients:
“We started using GTA Accounting recently and we are very pleased with the level of service we receive on a constant basis. We are not reliant only on 1 contact person but have many resources who can help us at any given time. I can schedule a call when I need it and my options and answers to my questions are explored in detail. I am very Happy!” -Michelle Patel
“GTA Accounting is the exact accounting firm I’ve been looking for. Their expertise enabled me to get the most return in the most efficient way possible. Having them take care of my taxes this year has been far and away MUCH EASIER than other years with a different firm. I’m happy I found them and I will continue to use them for years to come” –Alessandro Colarossi
7. FShad CPA
| SCOPE OF SERVICES | ADVISORY INCOME TAX COMPLIANCE ACCOUNTING & ASSURANCE TAX ACCOUNTANT TORONTO TAX CONSULTANT TORONTO BOOKKEEPING SERVICE TORONTO TORONTO ACCOUNTING SERVICES SMALL BUSINESS ACCOUNTING QUICKBOOKS SERVICES TORONTO XERO ACCOUNTING TORONTO TAX SERVICES TAX PLANNING TAX PREPARATION BUSINESS INCORPORATION OUTSOURCED CFO SERVICES |
| PRICING | Contact company for more information |
| WEBSITE | https://www.shadcpa.ca/tax-planning-toronto/ |
| ADDRESS | 3850 Steeles Avenue West, Unit 10 – Suite 203. Woodbridge, ON, L4L 4Y6 |
| CONTACT DETAILS | [email protected] 866-467-7727 |
| OPERATING HOURS | Mon – Fri 9:30 AM – 6:30 PM |
Excellent accounting services are a must for every company, but these services often come at a high price that most small companies are unable to afford. FShad CPA strives to remedy this problem by providing top-notch accounting services at cost-effective prices to their clients.
Small businesses and corporations alike stand to benefit from their services the most. They provide a wide range of accounting solutions ranging from accounting advisory to income tax compliance, and everything in between.
Their team of professionals are well-versed in the ins-and-outs of accounting, which allows them to provide the best solutions no matter what their client may need. Moreover, they make sure to keep their client’s on the same page with frequent, detailed updates regarding their filing process.
Given FShad CPA’s commitment to providing only the quality services at the reasonable rates, it’s no surprise that we recommend them for any small company working on a tight budget. They’ll do their utmost to deliver accurate and satisfactory results to any client that approaches them.
Pros
- Accommodates individuals and corporations
- Team of professional accountants
- Affordable rates
- Punctual on deadlines
Cons
- Usually serves startups and small businesses
8. SRJ Chartered Professional Accountants
| SCOPE OF SERVICES | Accounting, bookkeeping, personal tax returns, tax credits, cloud accounting, business incorporation, financial statements, valuation, litigation, and estate planning |
| WEBSITE | https://www.srjca.com/ |
| ADDRESS | 330 Bay St #1400, Toronto, ON M5H 2S8, Canada 10 Kingsbridge Garden Circle, Suite 204 Mississauga, ON L5R 3K6 |
| CONTACT DETAILS | 647-725-2537 |
| OPERATING HOURS | Monday – Friday, 9AM – 6PM |
SRJ is a one-stop firm that can handle all your personal and corporate accounting needs, from personal tax returns down to company payroll, and even financial advising. We added it here for two main reasons.
For one, it’s the only firm we know of that offers accounting solutions tailored specifically to the needs of doctors, dentists, chiropractors, start-ups, and small businesses. No need to stress out over which accounting service would be perfect for your company.
Second, SRJ has been working exclusively with small business owners since the beginning, so it’s aware of their struggles and what their business needs in order to grow.
This is the accounting firm for your business if what you’re after are convenient and tailor-made accounting solutions with no unnecessary inclusions. However, their services are mostly limited to small businesses.
Aside from the common accounting services, SRJ also offers business incorporation, estate planning, business valuation, and litigation support and damage quantification.
Pros
- Longer operating hours than most
- Excellent customer service
- Handles personal and corporate finances
- Tailored accounting solutions
Cons
- Works only with small businesses
9. Stern Cohen LLP
| SCOPE OF SERVICES | Outsourced Accounting Accounting Tax Audit & Review Not-for-Profit Accounting Bookkeeping Services Business Advisory Estate Planning |
| WEBSITE | https://www.sterncohen.com/ |
| ADDRESS | 45 St Clair Ave W 14th Floor, Toronto, ON M4V 1L3, Canada |
| CONTACT DETAILS | Phone: 416-967-5100 Email: [email protected] |
| OPERATING HOURS | Monday – Friday: 08:30 AM – 05:00 PM |
Established in 1963, Stern Cohen LLP is a full-service accounting firm serving Toronto businesses and non-profit organizations.
We were immediately impressed by their diverse team of accountants. They have significant experience in various areas of accounting, such as taxes, real estate, trade organizations, and many others.
Another thing we liked about them is that they have in-house specialists who can handle complex projects like financial statements and corporate and personal tax for business owners.
This, in our opinion, makes them a one-stop shop for accounting services, as they offer a wide range of services suitable for businesses of all sizes.
It’s worth noting that Stern Cohen has a high partner-to-client ratio, which allows them to provide more personalized service to their clients.
Unfortunately, they have limited client capacity when it comes to personal taxes. We also wish they were open on weekends to serve more customers.
Nonetheless, the majority of the customers we interviewed praised their consistency in providing high-quality services, claiming that they treat every client as if they were a Fortune 500 company.
Overall, we think Stern Cohen LLP is one of the best accountants in Toronto, providing a one-stop shop for accounting services.
Pros
- Years of experience
- Diverse team of accountants
- In-house specialists for complex projects
- High partner-to-client ratio
Cons
- Limited client capacity for personal tax
- Closed on weekends
Customer Reviews
Impeccable service
“The primary reason behind my 5/5 rating is the impeccable service, I received from the entire Stern Cohen team. Though we are a small organization we were taken care of as if we were a fortune 500 company.” -Dino C.
Responsive to queries and very patient
“My experience with Stern Cohen has been consistently positive for a great many years. The team now providing book-keeping support services is professional, responsive and patient. The time savings at our end has been very significant.” -Robert M.
FAQs about Accountants in Toronto
And that’s it for our list of the best accountants in Toronto. If you’ve dealt with any of these accounting firms in the past, share with us your experience with them.
If you have any suggestions for our list, don’t hesitate to send them our way. We always love hearing what our readers have to say about certain topics!
By the way, if you’re thinking about entering the digital market, we recommend hiring the best digital marketing agencies in Toronto. Luckily for you, we have a list for that as well.
