Professional bookkeeping

Service Overview

Professional bookkeeping is like having a financial diary for your business. It’s all about keeping track of every dollar that comes in and goes out of your business, from sales to expenses.

Imagine every transaction being recorded, categorized, and neatly organized. This isn’t just for keeping the numbers straight; it’s crucial for understanding how your business is performing, making informed decisions, and preparing accurate tax filings.

By tracking expenses and reporting accurately, businesses can identify where they’re spending too much, where they can save, and how they can improve profits. Plus, it keeps you on the right side of tax laws by ensuring every deductible expense is accounted for.

CRA Forms and Documentation

• T2125, Statement of Business or Professional Activities: For self-employed individuals and unincorporated businesses to report their business income and expenses.
• T2, Corporation Income Tax Return: Required for incorporated businesses to file their annual income tax.
• T4, Statement of Remuneration Paid: Employers use this form to report employment income, taxable benefits, and deductions for their employees.
• T4A, Statement of Pension, Retirement, Annuity, and Other Income: For reporting various types of income including pension and self-employed commissions.
• T4A(P), Statement of Canada Pension Plan Benefits: To report CPP benefits.T4A(OAS), Statement of Old Age Security: For reporting Old Age Security pension.
• T4E, Statement of Employment Insurance and Other Benefits: Used to report Employment Insurance benefits.
• T5018, Statement of Contract Payments: Required for businesses in the construction industry to report payments made to subcontractors.
• GST34-2, Goods and Services Tax/Harmonized Sales Tax Return for Registrants: For businesses to file their GST/HST returns.
• PD7A, Statement of Account for Current Source Deductions: A remittance form for current source deductions for employers.

Contact and Consultation