Bookkeeping that’s ready for tax time
Books kept by a separate bookkeeper often have to be reworked at year-end, and you pay for the work twice. We prepare your financial statements and tax returns too, so your books are kept the way your year-end needs them. Year-end takes less time and costs less.
What’s included
- Bank and credit card reconciliations, monthly or quarterly
- Sales, expenses and receipts recorded in the right accounts for tax
- Accounts receivable and payable tracking
- HST collected and paid, with returns filed on time
- Profit and loss and balance sheet reports
- Shareholder loan and owner draw tracking
- Year-end adjustments, done in-house
QuickBooks Online and QuickBooks Desktop
We work in both. If you already use QuickBooks, we take over your file. If you’re starting fresh, we set it up with a chart of accounts that fits your industry. We can also work from POS reports, franchisor statements, bank downloads and scanned receipts.
Behind on your books?
It happens more often than you’d think. We bring books up to date, months or years at a time, file overdue HST and tax returns, and talk you through your options if penalties are a concern, including whether a voluntary disclosure to CRA makes sense.
How monthly bookkeeping works
Send your documents
Statements, receipts and sales reports by secure link or email, once a month.
We record and reconcile
Every account is reconciled to the bank, and HST is tracked as we go.
You get your reports
A profit and loss, a balance sheet and a short note on anything that needs your attention.
Common questions
How often should my books be done?
Monthly is best if you have staff, collect HST or want to know where you stand. Quarterly works for smaller businesses that file HST quarterly. Once a year is the most expensive way to do it, because a year of catch-up takes longer than twelve small months.
Can you fix books done by someone else?
Yes. We review what’s there, correct errors, reconcile the accounts and tell you plainly what we found. If earlier HST or tax returns were wrong, we explain how to correct them.
Which accounting software do you use?
We work in QuickBooks Online and QuickBooks Desktop. If your books are kept somewhere else, or not kept at all, we can work from bank statements, receipts and sales reports.
How long do I need to keep my business records?
Generally six years from the end of the last tax year the records relate to. Keep them longer if you’ve filed an objection or CRA is reviewing that year.