Accounting Services bookkeeping services financial reporting tax services

• Recording financial transactions:
• Log all business transactions, including sales, purchases, payments, and receipts, using accounting software.
• Categorizing transactions: Properly classify all financial transactions to ensure accurate financial reporting and simplify tax preparation.
• Managing accounts payable: Keep an updated list of vendors, record bills, and ensure timely payments to maintain good relationships and credit.
• Managing accounts receivable: Create and send invoices to customers, track payments, and follow up on overdue accounts to improve cash flow. 
• Processing payroll: Calculate employee wages, manage tax deductions and withholdings, handle payments, and prepare T4'S and Records of Employment  forms for employees.
• Handling payroll taxes: Complete and submit tax remittance forms, Worksafe BC premiums and other government documents. 
• Bank and credit card reconciliation: Compare internal financial records with bank and credit card statements on a regular basis. This identifies and corrects any discrepancies, errors, or fraudulent activity.
• Creating financial reports: Generate essential financial statements, such as income statements, balance sheets, and cash flow statements, that provide a clear financial snapshot of the business.

Bookkeeping services implement and maintain a consistent financial process that strengthens the health of your company and helps to create and encourage uniformity in tracking, paying, and reporting. The value of this is immeasurable as it insulates your business from many costly errors.

• Financial Record-Keeping: This involves setting up and maintaining accounting systems, processing transactions, and managing financial data. 
• Financial Reporting: Accountants prepare financial statements, such as balance sheets and income statements, to provide a clear picture of a company's financial performance. 
• Tax Services: This includes preparing and filing tax returns, ensuring compliance with tax laws, and offering advice on tax procedures. 
• Auditing: Accountants review financial records and statements to provide an opinion on their accuracy and compliance with accounting standards. 
• Strategic Financial Advice: Accountants provide valuable insights and guidance to help management with strategic planning, budgeting, and making informed financial decisions. 
• Compliance and Risk Management: Services help ensure that a business meets legal and regulatory requirements, thereby mitigating financial risks.

An Accountant's services encompass a wide range of financial management tasks for businesses and individuals. Their work involves organizing, reviewing, and analyzing financial data to ensure accuracy, support strategic decision-making, ensure compliance with regulations, and optimize financial performance.   

As former CRA Tax employees we have an abundance of experience in dealing with the CRA including audits, past due returns, corporate foreign reporting, Section 160 assessments, income tax, GST/HST issues, and collection issues. If you need help with the CRA we got you!