BOOKKEEPING & PAYROLL SERVICES TO SAVE YOU TIME

Our Bookkeeping and payroll management services include, but not limited to:

Processing receipts, generating payments and recording transactions in QuickBooks
Recording to the general ledger of any other cash transactions such as payroll or automatic payments, prepare cheques for payroll if required,
Reconciling accounts from the bank statement to the general ledger for monthly review.
Bank reconciliation which is the process that describes the difference on a specified date between the bank balance shown in an organization’s bank statement, as supplied by the bank, and the corresponding amount shown in the organization’s own accounting records.
Create invoices and update your inventory in hand, if applicable.
Complete the full accounting cycle, post journal entries.
Prepare month-end and year-end reports, prepare trial balance of books.
Calculate fixed assets and depreciation; maintain general ledgers and financial statements,
Keep financial records and balance of various accounts using manual or computerized bookkeeping systems.
Monthly Bookkeeping, Year-end Transactions and Financial Statements Reports.
Monthly, Quarterly and Yearly GST/HST Filing Returns.
Put time back in your day by simplifying and automating your small business payroll processes.
Production of Payroll, T4, Employment and Other Income.
Corporate Income Tax Return (T2, T1134, T106 C0-17, T5013) and T2125 Statement of business or Professional Activities.

1. Employee Data Management

2. Compensation Calculation

3. Tax Calculation & Withholding

4. Deductions and Contributions

5. Payroll Taxes

6. Payroll Processing

Frequency of Payroll: Process payroll on the designated schedule, which could be weekly, biweekly, semimonthly, or monthly.
Payslip Generation: Provide employees with a detailed paystub, which includes gross pay, taxes, deductions, and net pay.
Direct Deposit/Checks: Set up and manage direct deposit for employee pay and/or distribute physical paychecks.
Payroll Software Integration: Payroll management service that integrates with time tracking, accounting, and HR systems for streamlined operations.

7. Year-End Reporting

T4 and other related tax slips
Tax Filing: File quarterly and annual payroll tax returns.
Provincial and Federal Tax Filings: Ensure timely filing of tax returns, including deductions for Canada Pension Plan, Employment Insurance benefits, federal and provincial taxes, and other employer obligations.

8. Payroll Reporting

Custom Reports: Generate detailed reports for internal use, such as labor cost reports, tax filings, and detailed breakdowns of employee earnings and deductions.
Audit Reports: Produce audit reports for internal or external audits to ensure payroll accuracy and compliance.
Tax Liability Reports: Track and report payroll tax liabilities to ensure timely payments to federal, province, and local authorities.

9. International Payroll (for Multinational Companies)

Multinational Payroll Services: For companies operating in multiple countries, handle multi-currency payroll, local tax regulations, and ensure compliance with international labor laws.
Global Payroll Reporting: Consolidate payroll data across countries and manage global compliance with tax laws, benefits, and statutory requirements.

10. Advisory and Support Services

Tax Advisory: Provide advice on tax issues related to payroll, including tax-saving strategies and employee tax compliance.
Payroll Support: Offer ongoing support for payroll questions, troubleshooting, and resolving any discrepancies or issues that arise.

Let us help you save both time and cost of hiring in–house resources. We let you have peace of mind so you can focus on your business growth.

Bookkeeping & Payroll Management