Award-Winning Shopify Accounting Services Toronto
We’ll manage your Shopify Accounting better than you expect. You focus on what you can do best- growing your online store or enjoying life.
Boost Sales and Save Money on Taxes with Automated Cloud Accounting.We make Shopify Accounting Simple and Painless!
Investor/loan-Ready Statements
Our up-to-date and accurate financial report gives real-time insights. Our Notice to Reader financial statements are so precise that you can use them to seek investments or loans.
Keep Your Hard-Earned Money.
We ensure you pay the minimum tax required. Our CPA in Toronto will proactively evaluate the tax liability, claim the maximum Input Tax Credits (ITC), and avoid penalties.
CRA Audit Protection.
No need to worry about following tax regulations - we meticulously and proactively manage everything to avoid audits. If audited, we will handle it free of cost.
Save time, Minus Stress
Experience peace of mind, having your finances in competent hands, and reducing the stress and complexity of Shopify Accounting. Get back the time you need to grow your store and earn more.
Cloud Accounting Services for Shopify Store Owners in Toronto
Our fully customized accounting solutions for Shopify Business Owners in Toronto work to boost your online shop’s bottom line. Our online store accounting services include:
Creating Financial Statements
- Prepare Notice-to-reader financial statements:
- balance sheets &
- Income statement.
- Analyze financial data for cost-saving & profit maximization.
- Cash Flow projections – forecast your liquidity.
Cloud-based Automated Bookkeeping
- Integrate QBO, XERO, A2X & Wave with Shopify Store.
- Record & classify revenue & expenses.
- Reconcile payments from Shopify Pay, Stripe, Moneris & others.
- Manage your Account Receivables & Account Payables
- Cleanup & catch-up bookkeeping.
- Monthly, quarterly, and annual reports.
Sales Tax Filing
- Register for a GST / HST or PST number.
- Accurate & timely GST/HST filing services.
- Forecast year-end HST liability to set up prepayments.
- Audit representation before the CRA.
- Claim maximum ITC for every expense.
Payroll Accounting
- All-in-one payroll accounting (compensation to compliance)
- Record of employment (ROE) preparation
- Compliance with CRA & WSIB
- Ensure timely payment of employees, if applicable.
- File required tax forms (T4, T4A slips) annually.
Inventory Management
- Optimize inventory turnover to prevent stockouts & overstock.
- Tracking unsold inventory & returned items to minimize losses.
- COGS calculation for precise profit tracking.
Virtual CFO
- CPA-prepared forecasts and budgets.
- Track business health KPIs.
- Consultation call with CPA.
Trusted By Toronto’s Up & Coming Shopify Business Owners.
As Shopify Accounting & Bookkeeping experts, we proudly help Toronto’s Shopify business owners reclaim their time to grow their online store and see actual financial returns.
See How Our Shopify Accountants in Toronto Have Helped Businesses Like Yours.
With our personalized e-commerce accounting services, your Shopify Accounting is taken care of. Sales tracked, expenses classified, taxes filed, and time saved.
Watch our clients share their experiences growing their Shopify Business from our Shopify Accounting services.
We’re Just a Call Away.
We’re your #1 Shopify accounting partner. Always available & ready to support you.
Your Questions, Our Expertise.
We provide simple solutions to your complex problems. Our approachable team is here to hold your hand.
Time-Conscious & Dependable.
Your time matters to us. We always stick to deadlines and pride ourselves on never being late.
Why Our Shopify Clients Love SAL Accounting.
Only Pay When 100% Satisfied with our Shopify Accounting Services.
Money-Back Guarantee.
We believe you should only pay if you’re satisfied with our services. And we’ll work hard to keep the commitment.
CRA Audits Protection.
We proactively take measures and file accurate taxes to avoid CRA audits. If audited, we’ll handle your CRA audit for free.
Know What You’re Getting.
Enjoy upfront, transparent pricing with no hidden charge so that you know what you’re getting.
Why Choose SAL Accounting as your Shopify Business Accounting Partner in Toronto?
The Number #1 Shopify Accounting Services in Toronto for all-level Shopify sellers.
Our Accountants acknowledge the accounting and tax needs of Shopify business owners. We are a one-stop shop for all your tax, accounting, bookkeeping, payroll, and CFO needs for your e-commerce business in Toronto. We tailored our accounting services to meet the diverse needs of various industries in Shopify. We proudly serve:
Fashion & Apparel Retailers
Staying ahead of trends while managing inventory and shipping logistics is critical in the fashion and apparel industry. We offer specialized accounting services that handle inventory turnover, bookkeeping, expense & review management, and HST filing.
Our expertise ensures that your finances are streamlined, giving you the monthly insights to grow your brand confidently.
Beauty & Fitness Product Sellers
Selling health and beauty products on Shopify requires regulatory compliance, tracking promotional expenses, and handling returns. We provide customized accounting solutions and tax filing services that keep your financials in check, ensuring you stay tax-compliant to avoid CRA Audits while maximizing the tax & maximizing profitability.
Home Goods & Furniture Retailers
Running a Shopify store that sells home goods or furniture requires careful management of production costs, shipping logistics, and seasonal demand fluctuations.
Considering these factors, we provide real-time financial insights, helping you optimize inventory levels, forecast demand by understanding trends, and maintain healthy profit margins. We will make you pay the minimum tax.
Electronics & Gadget Sellers
Managing a Shopify store that sells electronics and gadgets involves tracking high-value inventory, managing warranties, and navigating international shipping complexities.
Our accounting team ensures that your financial records are accurate and up-to-date, providing detailed reports on profitability, cost management, and tax obligations.
Dropshipping Stores
Operating a dropshipping business on Shopify requires careful coordination with suppliers, analyzing trends, and strategic pricing.
We will integrate our accounting tools with your Shopify stores, automating your accounting process and giving you real-time financial data. We will provide accurate financial data, manage cash flow, and perform trend analysis to identify best-selling items and ensure tax compliance.
Multi-Channel Retailers
Consolidating your financial data can be challenging if you sell across multiple platforms besides Shopify, such as Amazon or Etsy.
Our multi-channel accounting services ensure consistent and accurate reporting across all sales channels, helping you manage inventory, track & classify expenses, HST filing, manage payroll, and reconcile bank statements with sales from multiple channels, which will streamline the accounting process.
A Friendly Message from Our CPA
Greetings from your neighboring CPA!
Managing your Shopify store’s accounting is often burdensome and time-consuming. My team and I specialize in streamlining your Shopify accounting and sales tax (HST), bookkeeping, and payroll, ensuring your records are in order. We understand the dynamic and fast-forward nature of the e-commerce business. My teams and I will provide instant support for your growth while you concentrate on running your business.
M. SALMAN
Partner with Award-Winning Shopify Accountants in Toronto.
M.SALMAN, CPA
Alex Hart
Sarah Zeyneb
Jazz Thind
FAQs: Could Accounting for Shopify Business Owners.
Do I need a specialized Accountant for my Shopify Business?
Managing your Shopify accounting and bookkeeping takes time, and you are prone to many errors due to unfamiliarity with accounting guidelines. Moreover, an accountant can go beyond regular transactional accounting by providing insights and guidance to grow your business.
Relying on the expert can be a good investment. We offer affordable accounting and bookkeeping services to Shopify business owners in Toronto. Book a free call to learn more.
Can you help with Shopify sales tax compliance?
Yes, we manage all aspects of sales tax compliance for your Shopify store, including GST/HST registration and filing. We ensure that your business adheres to all relevant tax laws, both domestically and internationally, which is essential for avoiding penalties. You will be happy to know that we will handle any CRA audit free of cost.
How can a virtual CFO benefit my Shopify store?
A virtual CFO provides strategic financial advice, helping you with budgeting, financial forecasting, and monitoring key performance indicators (KPIs). This service mainly benefits Shopify businesses looking to scale, as it provides the financial insight needed to make informed growth decisions.
What are the benefits of cloud-based bookkeeping for Shopify?
Cloud-based bookkeeping offers several advantages, including real-time access to your financial data, automated updates, and secure data storage. Cloud bookkeeping automates your record-keeping process by directly integrating your Shopify store, increasing efficiency and saving time and money.
How do you optimize tax credits for Shopify stores?
We rigorously review all your business expenses to ensure you claim the maximum Input Tax Credits (ITC) and other eligible deductions. We also proactively identify the potential tax liability and plan accordingly. Doing so reduces your tax liability and ensures you retain more of your hard-earned revenue.
Do you provide consultation services for Shopify business growth?
Our consultation services include strategic financial planning, budgeting, and growth forecasting. We work with you to develop a roadmap for your business that aligns with your goals and helps you achieve sustainable growth.
How quickly can I get started with your Shopify accounting services?
Starting with SAL Accounting is easy—just book a free consultation with us. We’ll assess your needs, set up your accounting system, and have you up and running quickly, ensuring that your Shopify store’s financial management is efficient and effective.
I’m behind on my bookkeeping. Is that a problem?
Not at all! We also offer catch-up and cleanup bookkeeping services for Shopify business owners. Our accountant will work with your existing accountant or with you if you do not have an accountant to transfer everything to our cloud bookkeeping.
Is your accountant certified?
Yes, Our accountant is a Certified Public Accountant (CPA). Additionally, we have a QuickBooks Gold-Tier ProAdvisor Accountant to manage your accounting and bookkeeping meticulously.
You will have peace of mind knowing that your accounting and bookkeeping are in the hands of an experienced and certified accountant.
Is it necessary to have an Accountant near me?
No, you don’t need to. We offer our services online and offline, so we can help Shopify businesses no matter where they’re based.
Where is SAL Accounting located?
SAL Accounting is located in the heart of downtown Toronto. Our office address is 330 Bay Street, minutes from Union Station and CN Tower.
Schedule a FREE Consultation to Discuss Your Shopify Needs.
Ready to save time and money on Shopify accounting? Don’t delay. Reach out today to schedule a free consultation.