Onsite bookkeeping services

We are a full charge bookkeeping firm. We handle all aspects of daily bookkeeping tasks in the areas of accounts receivable, accounts payable, payroll, banking, financial reporting, and tax filing such as GST/HST, PST, Payroll remittance, WSIB, and EHT.

Accounts Receivable

Accounts Receivable is the accounting process of dealing with sales. The major tasks in this area are preparing customer invoices and applying customer payments. Issuing invoices can be straight forward for some companies. But for others, it can be complicated especially when it comes to order, estimation, multi-pricing, project allocation, progress invoicing, or recoverable expenses. Our bookkeepers have the skills to prepare invoices suitable to different industries and companies.

We also help you apply customer payment timely and accurately. With accurate and timely information, you will be able to contact customers to collect outstanding payments. This will help speed up your cash flow.

Accounts Payable

Accounts Payable is the accounting process of dealing with expenses. The major tasks in this area is recording vendor invoices and making payments to vendors. Our bookkeepers watch for fraudulent invoices to safeguard your cash. We also check vendor invoices and orders to make sure you are not being over charged by your vendors. We find ways to save you money, for example, taking favorable terms provided by your vendors. We carefully calculate and track sales taxes to maximize you GST/HST input tax credit and make sure you are not over charged PST. We always look ways to pay bills wisely to keep good relationship with vendors and at the same time to make cash flows smooth.

Payroll

Payroll has become a complex function due to the ever-changing tax rules. Our bookkeepers have detail-oriented personality with specialized training to manage your payroll. We can accurately pay annually salary, hourly wages, vacation pay, holiday pay, bonus, and commission to full-time employees, part-time employees, owner-managers, and commissioned contractors. We ensure your business is complying with all payroll tax obligations. We prepare the government payroll remittance (PD7A), record of employment forms (ROE), and year-end T4, T4A and T4 summary.

Banking

Bank reconciliation is the process of comparing and matching figures from the accounting records against those shown on a bank statement. It is one of the most important bookkeeping processes. It is used as a control to uncover any possible discrepancies and can detect or prevent fraud. Bank reconciliation is also useful for cash flow budgeting avoiding overdraft or NSF cheques.

Our bookkeepers reconcile all bank statements, credit card statements, line of credit, and merchant accounts (Visa, MasterCard, Amex, PayPal, etc). This monthly reconciliation process ensures that all transactions are recorded in your books. It also ensures that there are no errors in your bank accounts and in your financial statements.

After the statements are reconciled, our bookkeepers will prepare the reconciliation reports including the deposits in transit and outstanding cheques that have not yet cleared the bank.

Government filing

Government filing is a burden to businesses. Our bookkeepers will take care of your GST/HST, PST, Payroll source deductions, WSIB, and EHT filing. You no longer need to pay expensive accounting fees to your accountant for this type of services. It can be a substantial saving for you.

Financial Reporting

Accurate and timely financial reports are essential tools that guide your business to go in the right direction. It helps you run your business more efficiently. Our bookkeepers will prepare the statements such as balance sheets, income statements, accounts receivable aging reports, accounts payable aging reports. We can also prepare customers reports needed in your business or industries, such as budgeting and forecast, job costing profitability reports, cash flow forecast, etc.