Record vendor invoices, reconcile vendor statements, prepare vendor cheques.
Record customer invoices and payments.
Reconcile your General Ledger bank account(s) to your financial institution’s bank statement.
Record all pre-authorized payments or deposits, interest and service fees. This can be done weekly, bi-monthly or once at each month end.
WSIB premiums, the Employer Health Tax (EHT), Source deductions and calculate and file HST remittance or refund.
Review general ledger for timeliness of data entered, bank reconciliation, remittance accounts balanced to zero, HST is calculated and filed if applicable
All balance sheet accounts are analyzed and recorded on spreadsheets to facilitate preparedness for year-end, acquisitions and standard journal entries for insurance and depreciation are recorded, lease payments allocation and amortizations are in line.
Prepare a monthly financial statement for retention and, if requested, review. This will include a Balance Sheet, Income Statement, Accounts Payable Summary of outstanding accounts, Accounts Receivable Summary of outstanding accounts and a Balance Sheet Analysis of each balance sheet account.
Gather and prepare all documents which your accountant or tax preparer will require to complete the annual Review.
Record any adjusting entries which may come back from your accountant
Ensure opening balances for the new fiscal year are correct.
Adjust any standard journal entries that may be required for Fixed Assets depreciation.
Monthly review meeting after the accounting cycle is complete and the financial statements have been prepared.
Explain accounting policy and generally accepted procedures.
Business systems analysis, design, documentation, implementation and training
Organize your records into an accounting order such as Open Accounts Payable, Paid Accounts Payable, Open Accounts Receivable, Paid Accounts Receivable, Leases, Fixed Assets etc.
Set up an accounting software program that reflects your business requirements.
Review your transactional records, business nature and set up/document appropriate controls and procedures.
Design and document your internal policy and procedures for use by staff and management when processing transactions if you choose to perform the day-to-day processing in-house.
Serve as a consultant if you choose to do the day-to-day in house ; i.e assist in hiring and training staff to perform the functions as per your procedures; provide a check list of items the owner/manager should be looking for throughout the month, before we come in to complete the month end
Bookkeeping and Accounting
Business systems design, implementation, training and documentation
serving the Greater Halton Area.