Financial Services


We use the latest computer-based tax preparation software to ensure that every possible tax advantage is considered. Personal tax returns are filed electronically to recover overpaid taxes as quickly as possible. Corporate returns can be prepared as part of the financial statement preparation process or as a stand-alone service. We also prepare charitable organization tax returns, charitable or non-profit G.S.T. rebate claims and a variety of other government reports.

FINANCIAL STATEMENT PREPARATION We offer financial statement preparation for both year-end review and compilation engagements.

Compilation level statements are used for nearly all interim reporting purposes, to present annual statements for closely held organisations and as the basis for tax returns or other similar government reporting purposes.

Except as noted above, Compilation level statements are not suitable for third party reporting purposes such as reporting to your banker, funding agencies or prospective purchasers. In fact, Compilation level statements contain a notice that specifically restricts you from distributing the statements to any third party without written permission from our accounting firm.

Review level statements are used for all of the purposes noted above and are also used for third party reporting purposes that do not include reporting to the general public.

Audit level statements are suitable for any circumstance in which financial information might be needed. Pace Accounting Inc. does not offer audit services as we have elected instead to focus our expertise on issues affecting management accounting. For our clients who have mandatory audit requirements, we work closely with the auditor to provide most of the typical field work requirements that are part of an audit engagement.


Detailed G/L Management Fully customized financial statement preparation, for clients with more elaborate needs.

Receivables and Payable’s Management

Complete with customer or client invoicing and automated supplier payments.

Payroll Services

Includes direct deposit, T4’s, Record of Employment, WCB and full compliance with Employment Standards.

Hosted Accounting Systems

All accounting functions, including invoicing, inventory management, project management and all financial accounting areas can be hosted at our site and accessible via the internet. This arrangement puts a full time accountant and systems manager on your staff without the full time costs.

Our bookkeeping services can be conducted at our site, at your place of business, or some combination of the two. Rates are based on the amount of time required to manage the job.

Unless your organisation is very small or very simple it is our opinion that every organisation needs a qualified bookkeeper. There are specific skills that a bookkeeper has that are absolutely necessary to the proper operation of any organisation. Good bookkeepers are hard to find. We can help with setting up proper task and job descriptions as well as providing testing materials that will help to determine if a candidate is suitable for your position. If your organisation needs a bookkeeper but you don’t want to hire and manage one, consider using the bookkeeping services offered by Pace Accounting Inc. It’s often difficult to tell if your books are being kept correctly. Here are some questions that you can ask to determine whether there may be a problem. NEGATIVE ANSWERS INDICATE POTENTIAL PROBLEMS. Is your bookkeeping always up to date? Do you get regular financial statements? Are the financial statements always presented as a complete set? Do you get additional information that allows you to review the plausibility of the information? Do you see proof that your books are being reconciled to the bank, to customer accounts and the supplier accounts? POSITIVE ANSWERS TO THESE QUESTIONS WOULD ALSO INDICATE PROBLEMS: Do account balances make radical swings from month to month? Do your statements contain accounts with balances that you don’t understand (such as Clearing accounts or Sundry accounts)? Are there changes to your Retained Earnings or Net Assets account balances? If answering the above questions indicates that there may be problems, give us a call. We can look into your bookkeeping practices and provide effective solutions to help get your bookkeeping back on track.


We offer a full range of specially designed accounting and reporting services to meet the unique needs of non-profit and co-operative organizations. Subsidy management Maintenance Property tax grants Replacement reserves Receivables management Additional advisory services: if required, we will also provide staff to meet with your board or committees to ensure effective compliance.

MEETING YOUR NEEDS Some of the services we offer are not traditional to public accounting firms, but are of great value to our clients.

These services include training, interviewing, testing and recommending new accounting hires, as well as all types of negotiations.

Some services more traditionally associated with accounting firms, such as audit services, are not services we have chosen to provide.