Accounting and Bookkeeping

Meaningful, well-organized financial records are very important in making sound business decisions and complying with statutory requirements. According to CRA guidelines, every person carrying on a business or engaged in commercial activity should keep complete and organized records for the period of at least six years from the end of the last tax year to which the records relate. "Person" includes any individual, partnership, corporation, organization, or trust. Consequences of not keeping adequate records include possible disallowance of expenses and penalties for not being able to provide CRA officials with access to your records and information when requested.

To assist clients in maintaining timely financial information the following services are offered:

- Bookkeeping (monthly, quarterly or annually, depending on your needs and the size of your business)

- Financial statements preparation (must prepare and file with the corporate tax returns)

- Financial forecasts and projections (sometimes required by the banks or to make business decisions in case of business expansion or a new venture)

If you decide to do bookkeeping in-house I can suggest appropriate software and set up an accounting system in Simply Accounting or Quickbooks for you.

Other

- Payroll services including T4 preparation and filing

- T5 preparation

- WSIB, EHT and HST filings