Professional Services Accounting - Oakville & Ontario
Accounting and tax for consultants, advisors, and professional service firms in Oakville and the GTA.
Professional service firms sell time and expertise, which makes work-in-progress, utilization, and project profitability the real measures of how the business is doing. Retainers, WIP, and project work add their own reporting considerations.
SHARP & Associates provides accounting and tax for consultants, advisors, and professional service firms across Oakville and the GTA, built around WIP, utilization, and owner compensation.
Common Challenges We Solve
Unbilled work
Work-in-progress that is not tracked distorts both revenue and cash. We account for WIP so your numbers reflect work actually done.
Utilization blind spots
Without utilization and project reporting, it is hard to see where the firm earns and where it leaks. We make that visible.
How SHARP & Associates helps
We account for WIP and retainer revenue, report utilization and project profitability, plan owner compensation for incorporated practitioners, and handle HST on Canadian consulting arrangements - then plan year-end corporate tax.
Where time is the product
Consultants, agencies, and other professional-services firms sell time and expertise, which makes the financial questions different from a product business. Utilization, realization, and project profitability - not inventory or cost of goods - are what determine whether the firm is actually healthy. We structure reporting around those drivers so you can manage the business on the numbers that matter.
Schedule a CallRetainers, fixed-fee projects, and hourly work each recognize revenue differently, and most service firms run a mix of all three. Getting recognition right keeps your statements honest and your tax accurate. We set up your books to handle the mix cleanly rather than forcing everything into one bucket.
In an owner-operated service firm, how the principals take income is one of the biggest levers on total tax. We plan salary, dividends, and timing with your corporate and personal positions in view, so the firm's earnings translate efficiently into your own.
When the product is expertise, the health of the business shows up in metrics a product company never thinks about - how much of the team's time is billable, how much of what is billed is actually realized, and whether individual engagements are profitable once delivery is accounted for. We build reporting around those drivers, so you can manage utilization and pricing on real data instead of a vague sense that the firm is busy.
Most service firms run retainers, fixed-fee projects, and hourly work side by side, and each recognizes revenue differently. Handled loosely, that mix produces statements that flatter a slow month or understate a strong one. We set up recognition properly so your numbers tell the truth about the period - which matters both for managing the firm and for accurate tax.
In an owner-run practice, how the principals draw income is one of the largest levers on total tax. We coordinate salary, dividends, and timing across your corporate and personal positions, so the firm's earnings convert into your own as efficiently as the rules allow.
Related Services
Professional Services Questions, Answered
If your question is not covered here, we are one call away.
Ask Us AnythingWe account for WIP so unbilled work is reflected in your numbers, giving an accurate view of revenue and cash.
Yes. We report utilization and project-level margin so you can see where the firm earns and where it does not.
We review your revenue streams and apply HST treatment based on the rules that apply to each service.
Yes. The initial call is free and has no obligation.
Schedule a Call
Call (905) 491-7043 or email info@sharppc.ca to schedule a call. We will review your current situation, explain our approach, and confirm the right next step before any work begins.
Let's Connect
The first call is free and there is no obligation - we will review your situation, explain our approach, and confirm the right next step before any work begins.
