For Corporations

1-  Register businesses and activate all required accounts with the Ministry of Finance as well as with CRA for all types of business (Corporation, ,...,...)
2-  Design the accounting cycle

• Bookkeeping from source documents. (Bank Statements, Credit Card Statements and Cash disbursement) with all Bank and shareholder reconciliation.

• Monthly management report for income and expenses.

• Setting a payroll system that can provide paystubs per period.

3-  Periodic reports and filing

• Provincial sales tax (Monthly or Quarterly) 

• Good and service tax and (Monthly, Quarterly and annually)

• Work safe. 

• The monthly remittance amount. 

4-  Year-end procedure

• Post all the bookkeeping transaction to the General ledger

• Prepare all year-end closing entries.

• Proceed with a detailed Trial Balance.

• Recognize the draft of the Financial Statements for the fiscal year for discussion.

• Producing the final Income Statement and Balance Sheet as a result of the previous discussion for approval signature.

• At last is meeting the deadline for issuing and filing T2 as required by income tax act or corporate Law.

5-   Review and confirmation

• Reviewing the Notes of Assessment that the client receive directly 

• Confirming the result of the filing or explaining in case of the difference​

6-  Government  correspondence​​

• Discussing with CRA for any changes with supporting documents that might be required.

• Handling the final result and changes “if any” to match CRA end result.