Our team has experience using several different versions of accounting software. Sage 50 (formerly Simply Accounting) and QuickBooks (desktop and online versions) are commonly used.
We offer a broad array of bookkeeping services to meet the client’s needs. We provide a complete bookkeeping solution which includes:
- Accounts receivable
- Accounts payable
- Cash paid expenses
- Bank reconciliations
- Payroll (Processing, T4s, ROEs, etc.)
We can also provide custom bookkeeping packages, depending on client needs. Many times the client tracks accounts receivable, pays bills and prepares payroll themselves. In these situations, our office would do the bookkeeping and enter periodic adjustments for the accounts receivables and accounts payable.
We also offer bookkeeping review services. The client enters the transactions into the accounting program and we review the accounting records for accuracy on a periodic basis. Our goal is to train the bookkeeper so that over time the adjustments required are minimized and eventually the bookkeeper feels confident in performing the bookkeeping function entirely on their own. Of course we are always available to assist as needed if unusual transactions arise or if the client is in need of a short term bookkeeper.
With online programs we are able to assist clients by accessing their information remotely. By using this option, we are able to see the data easily without the need to transfer the data to our office or log in to the client’s computer. The cost for QuickBooks Online is very reasonable and is an option many are using. This alternative allows us to serve our clients from any location, rather than serving clients only in the Lethbridge area.
No matter what the frequency of the payroll, we are able to assist with the preparation of paycheque calculations, monthly payroll remittances, Record of Employment and T4 preparation. We can do these calculations ourselves and provide the client with the results or we can train the client to perform this task themselves and minimize professional fees.
T4 and T5 Preparation
T4s and T5s are required to be filed each February for the previous calendar year. We can assist with the preparation of these forms while ensuring the shareholders’ remuneration is reported according to the tax planning that has been previously completed.
Canada Revenue Agency requires businesses that are primarily in the construction industry to complete annual information slips that detail the subcontractor’s name, address, business (or SIN) number and amount paid. The business has the option in the first year of filing these forms to file based on the calendar year or fiscal year of the business. The forms are due within 6 months of the chosen date.
GST Return Preparation
GST returns are due either monthly, quarterly or annually. Our office can assist by reviewing the data to ensure it is plausible and preparing the GST returns. Accurate GST returns can reduce the chance of adjustments during GST audits.