Bookkeeping

Bookkeeping is a critical part of a successful business.  You need to know exactly how your business is performing in order to make informed business decisions. Without proper bookkeeping practices you could find yourself making decisions that actually hinder your business, and find yourself in trouble with Canada Revenue Agency.

The team at Joseph Truscott Chartered Accountant can take the worry and hassle of bookkeeping out of your hands and free up your time for what you do best – running your business.  You’ll have peace of mind knowing that your financial records are in order.  For as little as $150 a month you can drop off all your invoices, paid cheques and bank statements to our office.  Our team will write up your accounting records, deal with the HST & PST returns, T4s and Workers’ Comp issues and provide you with a detailed monthly financial statement which gives you an accurate picture of how your business is doing.

We tailor our Bookkeeping services to your needs. Our clients select the package of services that best suit them and we can even customize reports specifically for each client and their industry.

Payroll
  • Determination of payroll
  • Preparation of payroll cheques
  • Preparation of payroll reports
  • Determination of remittances to Revenue Canada, etc.
  • Determination of various payroll matters
  • Preparation of T4 slips
  • Preparation of T4 summaries
  • Preparation of Record of Employment Forms
Payables
  • Bill payment
  • Managing accounts payable
Bank Balances
  • Preparing bank reconciliations
  • Providing cash balance reports
  • Monitoring excess cash and short-term investment recommendations
Receivables
  • Invoicing your customers
  • Posting collections
  • Preparing monthly aged accounts receivable reports
  • Other accounts receivable functions
Journals & Ledgers
  • Sales Journals
  • Accounts Receivable
  • Accounts Payable
  • Payroll Register
  • General Ledgers
Monthly Reporting
  • Balance Sheet
  • Income Statements
  • Comparatives to budget and year-to-date results
  • Customized reporting for your industry

Our team works with each client to determine exactly what they require and what they will benefit most from.  They will set up a schedule to ensure the appropriate data is collected, recorded and handled on an efficient and timely basis – minimizing your cost, maximizing your time to work on your business.

You’ll likely save more than our services cost!  By outsourcing your bookkeeping your in-house staffing needs will be reduced, as will your employment costs (CPP, EI, WSIB etc), staff training, holidays, equipment and software requirements. In addition, you don’t have to worry about your Bookkeeping staff leaving and the time and expense that goes with finding and training a replacement.

Best of all, your bookkeeping and accounting needs will all be taken care of by an experienced team of professionals and your reports will be presented in a manner that you can actually understand.

Call us today to talk about how we can help you with this administrative burden and free-up more time for you to devote to running your business.

For further information, we recommend you watch the Payroll Services and Quickbooks videos below, and browse through our Resource Library.