As a business owner, you’re interested in growing your business and achieving new levels of success in the future. But you still have to report on what’s happened in the past, if only to pay your taxes, although there may be other reasons. And you still need to have accurate bookkeeping and financial statementsso you know what’s happening in your business and can make strategic business.
We have years of experience delivering high-quality accounting and assurance services. Although we don’t conduct audits, we can recommend another firm should one of our clients require an audit. We have elected to avoid audits because we cannot offer bookkeeping services to our clients if we are also responsible for their audit. We can, however, prepare a Compilation (Notices to Reader financial statements).
Our goal is to make your bookkeeping as simple as possible. It’s the 21st century and technological solutions exist to streamline bookkeeping for today’s entrepreneur. While you still need strong advice, putting the technology in place to automate various accounting functions will make your life easier and free up time and energy you can use to develop your business.
Our Bookkeeping & Assurance Services
Please note that our bookkeeping and financial statement services are only available to our clients. All services, from accounting software setup to financial statement preparation, come as part of our service packages and are not available as one-offs.
The following pages will provide you with information as well as explain the value we bring to our clients in each area.
Small Business Bookkeeping
Well-kept books and up-to-date accounting give you the ability to make better decisions in your business. We help you understand what goes wrong with small business bookkeeping, what to look for in a bookkeeper, and how we handle bookkeeping for our clients.
Accounting Software Setup
With the financial functions of your business on autopilot, you’ll have more time and less stress. Accounting software is changing the way entrepreneurs handle the backend of their businesses. We help our clients select and implement the right software for their needs and teach them what they need to know to use it.
With technology, payroll headaches have almost become a thing of the past. Unfortunately, errors still occur. If you’re struggling with payroll problems, reducing the chance of errors can help reduce your overall stress.
GST, HST, & PST Advisory
If you sell to customers locally or in other provinces, you need to understand what’s expected in terms of GST, HST, and PST. We help you determine what you need to collect, when you need to file, and more.
Financial Statement Preparation
Every business needs financial statements but what level of assurance do they require? Understand the difference between audits, reviews, and NTRs to help you determine what’s best for your business.
Financial Vs. Management Accounting
There are actually two types of accounting. Discover why the type you’re most familiar with is actually the least helpful for business owners and why the second type is critical to your business’s success. Learn more about financial and management accounting.
Accrual vs Cash Accounting
Although cash basis accounting may be adequate for some businesses, accrual accounting has several important advantages.
If the tax authorities question your tax filings, you will likely have to pay your accountant or lawyer to prepare and submit responses to the CRA. This can get very expensive and often outweighs the value of the tax benefit. Our Audit Shield fee waiver service covers our fees for responding to the CRA’s requests, giving you peace of mind.
Cash Flow Analysis
Understanding cash flow is often the biggest headache for entrepreneurs simply because they don’t know how to manage it. Get a better understanding of cash flow and how you can start to improve it immediately.
As companies grow, they often require outside financing. Discover the types of financing available, the financial reporting requirements for each type, and what banks look for when making financing decisions.