Car Dealership Accountant
Our expert accountants handle every aspect of your dealership’s finances, from bookkeeping to major strategic decisions, allowing you to focus on the market. Let us support you with the confidence you need about the financial success of your dealership— contact us today for a free accounting consultation.
Car dealerships are some of the most profitable businesses in the industry. Most Canadian dealership owners can expect a high margin on sales, which facilitates the investment into more stock and reinforces turnover. Ontario business grows steadily, and it is an exciting endeavour when it starts to move forward.
One of the biggest contributions to the success of any car dealership is well-managed finances, however. Our car dealership accountant will provide you with tailored advice, organized bookkeeping, and payroll assistance to grow your business and maximize returns. Our company specializes in car dealership accounting services, and we know what it takes to make these businesses profitable.
One of our greatest contributions to your car dealership is the intelligent organization of your day-to-day finances, which includes bookkeeping and payroll assistance.
We utilize precise bookkeeping methods to ensure that you successfully handle your expenses and maintain awareness of your financial position. Send a copy of your receipts digitally or through the mail, and we will create an itemized list of your spending. We work with your business to create a budget that better allocates your funds and supports profitability.
Our professionals handle all aspects of the payroll, including sending paychecks, withholding taxes, and creating employee benefit plans. When you hire our professional car dealership accountant, you spend less time on operational finances and more energy on enhancing your business model.
Our financial experts also utilize your financial information to provide tailored advice to benefit your business. We analyze:
- Sales trends
- Market trends
- Number of employees
- Salaries and other major operational expenses
Our car dealership accountant will provide you with an in-depth plan to increase profit margins and minimize spending. We then offer annual consultations to determine how your business has responded to these changes and show where you can improve the next year.
Think of our company as a silent but supportive business partner in a competitive niche. Our car dealership financial experts are always available to answer your financial questions or give sound advice. You can easily schedule virtual or in-person meetings to discuss your financial questions throughout the year.
Our car dealership accountants offer specialized services that uniquely address the challenges of owning a dealership. Some of our custom services include:
- Ownership transfers: We will help you smoothly transition the ownership of your dealership by organizing new contracts, switching accounts, and reporting the changes to the CRA.
- Mergers and acquisitions: Combining dealerships requires expertise from a financial professional. We will take care of the financial records from the other dealership and incorporate the information into your account.
- Resolving audits: We will resolve any audits you receive by providing the necessary CRA evidence. Hiring our accountant will also likely prevent future audits in Ontario, as we will keep your bookkeeping records organized and accurately report your finances to the CRA each year.
Frequently Asked Questions
Here are some questions business owners frequently ask when they consider hiring car dealership accountant services
What is an HST audit?
An HST audit is a request from the CRA that occurs after you file your tax return to confirm that you are paying the correct amount in harmonized sales tax (HST).
If you receive an HST audit request, we present your financial information to the CRA accurately and convincingly to avoid penalties or other fees.
Do all car dealerships need accountants?
The most organized and successful car dealerships hand over all their finances to an experienced team of professionals like our company. A car dealership accountant is one of the smartest steps to increasing your dealership’s profits and avoiding bankruptcy.
While hiring an accountant is not required to open a dealership, it will save you money and help you run your business better. Our accountant also eases your financial stress and helps you feel confident in your business model, allowing you to focus on more pressing issues.
How do you choose the right car dealership accountant?
Not all car dealership accountants have the same skills and expertise. If you are looking to hire an accountant for your dealership, choose our professionals who:
- Specialize in car dealerships: General accountants cannot provide specific advice to run your dealership well. Our team knows the automotive industry, and we tailor our consultations to benefit your business.
- Work with big companies: Inexperienced accounting firms often feel overwhelmed by the size of formidable car dealerships and cut corners in their services. Our team has plenty of experience with large companies throughout Ontario, which allows us to expertly handle every aspect of your finances, big or small.
- Combine consulting: The best accountants utilize your bookkeeping records to make smart consulting decisions. We pair our accounting services with financial advice to promote your overall success.
Contact us today to schedule a free accounting consultation for your car dealership.