Bookkeeping is an important part of accounting. Proper bookkeeping ensures preparation of properly classified financial statements and thus helps the business owner/manager take right decisions at right time. We provide full cycle bookkeeping and accounting services in Toronto u0026amp; Scarborough for you using error-free and updated bookkeeping software such as QuickBooks.

Our regular bookkeeping service is provided at a monthly fixed fee, which varies depending on the volume of transactions and what specific tasks you want us to perform for your business. This service can be customized to match your specific needs.

Services we provide within regular bookkeeping package include:

  • Monthly/periodic bookkeeping
  • GST/HST | WSIB | EHT returns
  • Payroll processing
  • Annual financial statements
  • Tax slips service
  • Corporation / business tax return
  • Tax planning on owner-manager remuneration and minimization of corporate tax

 

MAQ CPA makes regular bookkeeping as easy as 1-2-3:

  • Spend a few minutes every day to put your paperwork in an envelope
  • Handover the documents to MAQ CPA every month or 3-month
  • Receive business financials from MAQ CPA to take important decisions for success

 

Please call us for the initial consultation and see how we can save you taxes and costs!!!

 

Small business bookkeeping works involve many tasks, but are not limited to, the following:

Accounts Payable:

  • Enter suppliers/service providers’ invoices
  • Record all payments
  • Maintain a listing of accounts payable
  • Maintain the general ledger for accounts payable
  • Reconciliation of payments
  • Prepare analysis of accounts
  • Produce aging reports, balance summary u0026amp; detail reports
  • Process and issue T4A and T5018 at the year-end

 

Accounts Receivable:

  • Create invoices for customers
  • Record sales and discounts in proper accounts
  • Entry for receipt of payments from customers
  • Reconciliation of accounts receivable
  • Produce reports such as customer-wise summary u0026amp; details, transaction details, aging
  • Produce reports on sales such as by customer, item and sales representative

 

Bank and credit card reconciliation

Is bank balances in your book really available in your bank accounts? Everybody wants to make sure that the balance written in the books really agrees with the balance shown by the bank, sometimes after reconciliation. This is the most important function of bookkeeping. We prepare bank and credit card reconciliation statements every month for each of your account based on your book records and bank records provided to us. Once you receive a bank reconciliation statement you will satisfy yourself how and where your bank balances exist.

GST/HST, EHT, WSIB Returns

This is the area where most of the business owners/managers always worry about compliance of mandatory government return filings before the due dates. We calculate GST/HST, WSIB and EHT accurately and prepare these returns periodically and submit them within the deadline as approved for your business.

Financial Statements Preparation / Analysis

We provide you with a set of financial statements every month/quarter/year based on your needs. You can get this service along with bookkeeping services. Based on financial information provided by you, we will prepare financial statements such as Balance Sheet and Income Statement.

To take a business decision at right time, you will require analysis of your financial position and results between different periods and/or between budgeted and actual results. For example, if there is a loss in a period, you will certainly be eager to know why the loss incurred, what went wrong with your business. You will require more in-depth analysis of financial items. We will provide you that analyses based on your specific needs.

We also provide year-end assistance to businesses. This small business accounting service can be tailored to your needs.

Other Accounting Tasks: These services are provided by our Bookkeepers or Accountants on specific requirement basis.

  • Maintaining costs by job/customer/department
  • Stock reports for quantity and value
  • Job profitability report
  • Any other specific financial reports

 

Benefits of our services:

  • Business owners can spend more time and thoughts to core business for growth in revenue and customer
  • See business performance periodically and ongoing basis to take business decisions for success
  • Stay free from anxiety for timely submission of tax returns, avoiding late filing penalty and interest
  • Save money and time on payroll, hiring, and layoffs, and avoid maintenance of big setup
  • Flexible and cost-effective means of getting taxes and accounting done at an affordable fee
  • Enjoy peace of mind at all time

 

Why Choose Us?

  • Experienced and dedicated professionals to answer your questions promptly throughout the year
  • Calculate maximum refund or/and minimum taxes
  • Prepare accurate tax returns and file them on time
  • Advise you appropriate tax planning and minimization strategies, where applicable
  • Use dependable, error-free and updated software for taxes, bookkeeping and payroll
  • Provide year-round services, maintain confidentiality, quality and professionalism