Our bookkeeping and accounting services are aimed at maintaining accurate financial records, ensuring compliance with regulatory requirements, and providing financial insights to the business.

Scope of Services:

  1. Bookkeeping Services
    • Record and categorize all financial transactions, including purchases, sales, receipts, and payments
    • Reconcile bank and credit card statements
    • Manage accounts receivable and payable
    • Generate financial statements, including a profit and loss statement, balance sheet, and cash flow statement
  1. Cloud Accounting Services
    • Set up and manage a cloud-based accounting system such as QuickBooks or Xero
    • Provide training to the business owner or staff on how to use the accounting system
    • Maintain and update the accounting system on a regular basis
    • Ensure data security and backups of financial records
    • Provide customized reports and dashboards to provide insights into the financial health of the business
  1. Tax Preparation and Compliance
    • Prepare and file tax returns, including income tax, sales tax, and payroll tax
    • Ensure compliance with tax regulations and deadlines
    • Provide advice on tax planning strategies to minimize tax liability
  1. Business Advisory Services
    • Provide financial analysis and forecasting to help the business owner make informed decisions
    • Assist with budgeting and cash flow management
    • Conduct periodic financial reviews and analysis to identify areas of improvement
    • Provide recommendations for optimizing financial performance and growth

Assumptions:

  • The business operates in a legal and regulatory environment that requires compliance with applicable accounting and tax regulations.
  • The business will provide all necessary financial information and documents to the bookkeeping and accounting service provider in a timely manner.
  • The accounting system used by the service provider will be cloud-based and accessible by the business owner or staff with appropriate permissions.

Deliverables:

  • Accurate and up-to-date financial records are maintained using a cloud-based accounting system
  • Timely and accurate tax filings and compliance with applicable tax regulations
  • Customized financial reports and dashboards to provide insights into the financial health of the business
  • Advisory services to assist the business owner in making informed financial decisions

Timeline and Budget:

The timeline and budget for bookkeeping and cloud accounting services will be determined based on the size and complexity of the business, the frequency of financial transactions, and the level of service required. The service provider will provide an estimate of the timeline and budget based on a consultation with the business owner or representative.

Bookkeeper North York

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4789 Yonge Street,
North York, ON M2N 0G3