In today’s fast-paced business environment, keeping your financial records in order is crucial. A thorough bookkeeping clean-up serves several essential purposes, especially if you’re preparing for tax season or looking to ensure compliance. Here’s why you should consider this service:
Key Objectives of the Clean-Up
1. Financial Overview: We provide you with a detailed financial reports and a complete set of books covering months or years of backlogged business transactions.
2. Tax Preparation: A clean set of books is essential for your tax accountant to prepare your Corporation’s corporate tax return or your personal tax return (in the case your business is a sole proprietorship).
3. GST/HST Filing: We will ensure you have the necessary results to file or amend your GST/HST return.
4. Compliance Risk Assessment: We’ll identify any potential compliance risks, such as missed T4As for contractors, T4s for employees, and WSIB filings to name a few.
5. Quick Compliance Solution: It’s important to note that this clean-up will not provide insights into past project profitability or tax planning. Instead, it serves as a quick fix to ensure compliance and the proper setup for years to come.
Service Details
To get started with your bookkeeping clean-up, here’s what you can expect:
• Contract Agreement: We’ll sign a contract that outlines the specifics of the service, including the period for clean-up, your obligations, charges, and other details regarding this engagement.
• Onboarding Process: You will receive an onboarding document that details all necessary steps, including logins and access requests.
• 100% Online Service: Our service is fully online, covering documentation, procedures, questions, and results.
• Hourly Rate: Our fee is based on an hourly rate of $225 plus HST.
• Estimated Time Commitment: A clean-up for a 12-month period typically takes about 12 to 20 hours. This will depend on many factors such as the numbers of cards used to transact, how soon the client responds to our requests for information, and the volume of transactions.
If the process extends beyond this estimate, we will inform you midway.
If you require a more accurate estimate of the hours needed to complete the work we are open to have a look at your existing online books.
Lastly, by taking advantage of this service, you can ensure your financial records are accurate and compliant, giving you peace of mind as you navigate your business responsibilities.
For more information about your case in particular contact us here
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