Accounting and bookkeeping We provide full-cycle bookkeeping and financial reporting services, for clients all across the country.
AP, AR entry and management
Bank and Credit Card Reconciliation
Fixed Asset continuity schedule management
Budget v Actual comparisons
Government remittances include HST,WSIB,EHT,etc.
Annual HST, WSIB, EHT report reconciliation
Financial statements compilation include Balance sheet, Income statement, Cash Flow statement.
Sales analysis, trend analysis, and financial statement analysis
Payroll
We provide payroll service for many clients all at less cost on either weekly, semi-monthly, bi-weekly, monthly, quarterly or annually. Our clients just need to provide payroll hours and we take care of the rest.
Paycheck preparation
Direct deposit
T4/T4A, ROE
Payroll General Journal entry
Payroll tax remittances include Federal tax withholding, CPP, EI, etc
payroll tax report (quarterly and year-end)
Year end payroll accounts reconciliation
Bookkeeping at home
Business Records Your Accountant Needs
GST and PST
AP, AR entry and management
Bank and Credit Card Reconciliation
Fixed Asset continuity schedule management
Budget v Actual comparisons
Government remittances include HST,WSIB,EHT,etc.
Annual HST, WSIB, EHT report reconciliation
Financial statements compilation include Balance sheet, Income statement, Cash Flow statement.
Sales analysis, trend analysis, and financial statement analysis
Payroll
We provide payroll service for many clients all at less cost on either weekly, semi-monthly, bi-weekly, monthly, quarterly or annually. Our clients just need to provide payroll hours and we take care of the rest.
Paycheck preparation
Direct deposit
T4/T4A, ROE
Payroll General Journal entry
Payroll tax remittances include Federal tax withholding, CPP, EI, etc
payroll tax report (quarterly and year-end)
Year end payroll accounts reconciliation
Bookkeeping at home
- Establish a simple routine for dealing with paper (including receipts!) as soon as it comes into your hands and stick to it.
- When you get a receipt, look at it, and fill in missing or faded receipt information on the spot.
- If you must fold a receipt, fold it so that the printed side is uppermost
- Don't let the data entry pile up
- Sit at your desk for a few minutes and figure out where you will instinctively look for things
- Now that you know where you will naturally look for information, you must determine whether an alphabetical, numerical or subject filing system will work best for you
- Next, roughly determine your storage needs
- Invest in a good labeling system for clarity and easy access
- Sort all your information slips by type.
- Record sales, cost and expenses in “Daily Journal” we provided, then summarize and tally records in “Monthly General Ledger” once a month
Business Records Your Accountant Needs
- Revenue and business expenses for the year
- Business use of auto
- Auto operating expenses
- Vehicle driving log with business kilometers driven
- Asset additions
- Business use-of-home details
- Last year’s Notice of Assessment
- Amounts paid by installments
- A copy of your income tax return filed last year (if you’re a new client)
- GST return form, PST filing slip
- Deadline for specific tax filing
GST and PST
- While you are not required to register for GST until your annual gross revenues exceed a minimum threshold (currently $30,000) we generally recommend that any business register as soon as possible
- Most goods and services sold or provided in Canada are taxable at the rate of 6% (GST). Certain items, such as sales of basic groceries and prescription drugs are taxable at a rate of 0%. These are referred to as zero-rated goods and services. A limited number of goods and services are exempt from the GST
- The provincial sales tax rate differs from province to province, and is even calculated differently in different provinces.
- in Ontario, the provincial sales tax rate is 8%, which is charged on the selling price of the item before the GST is applied. BC (PST rate 7%), Saskatchewan (PST rate 5%), Manitoba (PST rate 7%), and the provinces that use HST all do the same. But in Quebec and Prince Edward Island, the provincial sales tax is charged on the total selling price plus GST