Accounting and Bookkeeping

Our skilled and professional accountants can help you efficiently manage your team. Organized and accurate records are crucial in making important daily business decisions. Every business is different and deserves individualized attention to fit specific needs.

Bookkeeping is not an enjoyable task for most business owners, but they know how important it is. Bookkeeping might be prepared because you need to file your T2 return to the Canada Revenue Agency. However, maintaining a well-kept books is essential for every company for more reasons beyond compliance with your tax obligations.

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Our Full Cycle Accounting includes: 

• Data compilation and transaction analysis

• Accurate and timely transaction recording

• Post and maintain general ledger

• Preparation of trial ledger and adjustments

• Preparation of financial statements

• Accounts closing

Payroll can be time-consuming for the owners of all-sized businesses. While businesses must complete payroll at least once or twice per month, and that payroll information must be accurate. We help business owners ensure that employees receive correct payments in a timely manner; meanwhile, ensuring payroll taxes are handled appropriately. Payroll service includes: 

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• Open CRA payroll accounts

• Collect employees' TD1 forms, social insurance numbers, and other required information

• Proper computation of payroll deductions every pay period

• Complete payroll remittances

• Prepare employees' T4 slips and issue T4s on time

• File information returns annually

Bank reconciliation allows you to take control of your financial positions, hence empowering you to make better business decisions. Smart businesses always know their cash positions and make improvements accordingly, such as investing in new effective equipment or spending more on marketing. Our Bank Reconciliation service includes: 

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• Reconciliation of bank records with your books periodically

• Review deposits and checks, reconciliation of all cleared transactions

• Match trial balance with bank reconciliation for financial review

• Cash reporting when needed

Financial statements are essential when you operate a business in Canada. Some companies are required to prepare and file financial statements, and banks might ask for them when they determine whether to extend credit to your company. We provide you detailed financial statements that include: 

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• Balance sheet

• Income statement

• Statement of retained earnings

• Cash flow statement

• Accountant's report

• Notes to the financial statement