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Accounting Services for Retail & Hospitality Businesses in Burlington, Oakville & Hamilton

Keep your business profitable through seasonal changes and economic shifts

Whether you’re a small shop owner or the president of a national chain, we can help you with accounting services for your retail and hospitality business. We understand how important it is for you to stay on top of the market, which is why we’re committed to providing high-quality accounting services tailored to your specific needs.

As a firm that specializes in retail and hospitality accounting, we understand the unique challenges your industry faces, including complex tax regulations and constant changes in the marketplace. We provide a full range of services to help with financial reporting, tax planning, and compliance, strategies for growth, and other customized solutions to help our clients meet their goals. Our chartered professional accountants will help you streamline your business process, manage your finances, and stay ahead of the competition.

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Looking for an accounting firm to support your retail or hospitality business?

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The success of your business depends on the quality of the financial decisions you make. With the help of our chartered professional accountants and advisors, you’ll be able to make better, faster decisions like:

  • What products should be on sale during which times?
  • Where is my highest profit margin coming from?
  • Where am I looking to grow my business?
  • How can I plan for seasonal change?

We’ll help you make more informed decisions so you can take advantage of opportunities as they arise.

  • Tax planning and tax compliance services
  • Optimize your company’s corporate structure
  • Developing working capital management strategies
  • Cash flow analysis
  • Audit, review, and compilation services
  • GST/HST/PST advisory and reporting
  • Operational performance reviews and process improvement
  • Inventory accounting construction materials and equipment
  • Business overhead and marginal cost review and analysis
  • Subcontractor and job order costing
  • Fixed-price consulting contracts
  • Project management review
  • Profit enhancement strategies
  • Tax credit possibilities
  • Financial analysis and reporting
  • Strategic business advisory services
  • Estate and succession planning
  • Risk management and security reviews

Inventory carrying costs are the costs associated with keeping inventory in stock at a store, restaurant, or other retail establishments. These costs are usually figured as a percentage of the value of the inventory and include such things as:

  • Warehousing
  • Equipment
  • Employee salaries
  • Insurance
  • Damage
  • Other inventory-related expenses

If you want to reduce your inventory carrying costs while still maintaining a profitable business model, there are several things you can do:

  • Improve warehouse layout
  • Determine optimal inventory levels and reorder points
  • Accelerate turnover
  • Use inventory management software

We help our clients identify inventory carrying costs and determine ways to reduce those costs without sacrificing your products’ quality or customer service levels.

Learn more here.

The Municipal Accommodation Tax (MAT) is a room tax that was implemented by the Provincial Government in 2017 to help support Ontario’s tourism industry. The MAT supports the tourism industry, as well as programs and services that visitors take advantage of when visiting.

The implementation of a Municipal Accommodation Tax allows municipalities across Ontario to apply a mandatory rate on accommodations. Here is what you need to know: 

  • The rate is 4% applied only on the room cost portion of overnight accommodation of all guest invoices for a continuous period of 30 days or less.
  • The MAT is subject to a 13% HST.
  • The MAT is mandatory and must be paid by the guest to the lodging provider at the same time that they pay for the reservation.

Where does SB Partners work with retail and hospitality businesses?

SB Partners provides accounting services for retail and hospitality providers in Southern Ontario including areas such as BurlingtonOakvilleHamilton, Mississauga, Brampton, Guelph, Kitchener, Milton, Cambridge, Grimsby, St. Catherines.

We support a variety of retail and hospitality businesses such as large and small retailers, wholesalers, and distributors, hotel General Managers, Franchises, Brick and Mortars, and E-commerce companies.

Speak to a local accountant
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