An accountant in Toronto is a person who is qualified to provide accounting services to local and foreign companies. The accountant is entitled to develop multiple accounting procedures, that can also be extended to natural persons, who must also file various accounting documents, such as personal tax returns.
An accountant in Toronto is also qualified to provide advisory services for various legal matters, such as the tax and accounting implications of purchasing a property here. However, most of the services are designed for corporate entities, as they have to maintain a set of accounting documents and submit specific tax returns, following the legal requirements.
Thus, if you plan to open a company in Canada in the city of Toronto, our team of consultants can put in contact with our team of accountants, who will offer all the accounting services that are customarily needed for companies. In this article, you can discover the main services that you can request from local accountants.
All company types that can be incorporated in Canada have to comply with specific accounting procedures, which will vary based on the company type selected by the investors. The simpler the characteristics of the company, the simpler the accounting procedures will be. In the following section we will present the basic accounting services which are applicable to most of companies operating here (and which are generally incorporated small and medium-sized companies, registered as limited liability companies):
Being an accountant in Toronto or anywhere else in Canada represents a type of job that is regulated under the local law. All accountants must have suitable studies and they need to be certified by the regulators of the sector that have jurisdiction in the province where the respective accountant is located. Below, we present few key aspects of this job:
After completing the process for company formation in Canadaand after you receive the right to start your business operations, one of the main things that you must complete is to find an accountant to handle your bookkeeping needs. This can be done with the help of our Toronto bookkeepers, who are qualified to handle numerous accounting and tax matters.
For instance, Toronto bookkeepers are qualified to intermediate all the documents between the company and the bank with which it collaborates (where it has its corporate bank account set up or the bank which offered a credit, etc.). They can also set up the charts of accounts and can prepare monthly financial reporting. For more details, we invite you to contact our team of consultants in company registration in Canada.