Accounting

Bookkeeping

Bookkeeping is the recording, on a day-to-day basis, of the financial transactions and information pertaining to a business. It ensures that records of the individual financial
transactions are correct, up-to-date and comprehensive. Accuracy is therefore vital to the process. Our seasoned and efficient bookkeepers record the day-to-day financial transactions accurately and bring the books to the trial balance stage. We offer books setup, employee training and in-house bookkeeping as well. Weather you bills and invoices fit in a shoe box or extend to full fledge cabinets we are your side to sort and straighten down the for you. Our bookkeeping fees depend upon the volume of transactions and can either flat or hourly.

Payroll

Payroll processing refers to the administration of employees’ financial records including salaries, wages, bonuses, deductions, and net pay etc. Laws and regulations governed by Income Tax Act, Employment Insurance Act and Canada Pension Plan regulations make every employer comply with the requirements. Liability to withhold and contribute CPP, EI and make source deductions pose complex challenges for the businesses. Remittance failures of delays pose high penalties causing financial distress on businesses.

Our expertise in payroll is what you can count on, and you focus on your core business. We assist you in the following:

• Setting up the payroll accounts
• Weekly, bi-weekly, monthly and yearly payroll
• Calculate adequate withholdings, contributions and source deductions.
• Yearend T4s, T4As, T5s and e-filing your payroll returns.
• Record of employment

Our focus is not only to fulfill statutory payroll requirements, but also to advice and execute the salary/dividend combination for optimizing tax saving for corporate directors and shareholders.

Financial Statements

Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand. Typically include four basic financial statements

• Balance Sheet – Statement of Financial Position
• Income Statement – Profit & Loss Report
• Statement of Retained Earnings – Statement of change in equity
• Cash Flow Statement – Report on company’s cash flow activities

Our expertise helps you decide the accounting framework adoption depending upon your business weather to choose IFRS or ASPE.

Our philosophy of reasonability and fairness help you to get the above par services but at reasonable fees