Professional Accountants In Gravenhurst & Barrie, ON
Manage your year end corporate compliance requirements with our CorporateYearEnd Services
Year end financial statement preparation and T2 corporate income tax filing is one of those annual chores every corporation is required to do. The financial statements are used: by your banker to justify the business line of credit; the lawyer to keep your corporate minute book s up to date; and by Canada Revenue Agency(CRA), to provide evidence for your corporate income tax return as filed.
With your CorporateYearEnd services planned and scheduled with us, you can be sure that your year end chores are taken care of and we will close off your year with key insights we gain from working in your date
Here's How It Works:
- We meet with you and your key staff one on one to ask a series of detailed and probing questions about your business and discuss the deadlines associated with your business.
- We will keep track of your annual deadlines and we keep up to date on new legislation affecting corporations, changes in accounting standards, changes in the tax rates and many other changes that are legislated Provincially or Federally.
- We will request the business books ahead of the deadline to prepare the financial statements and tax returns on time.
- Our preparation includes but is not limited to a review the bookkeeping datafiles, preparation of key balance reconciliations, verifying balances with third parties (for example the bank )and we discuss any issues we find with you and make any changes necessary – these may be errors in categorizing transactions, errors in calculation of interest or HST, additional expenses the business is entitled to, accounting for transactions that occurred in the year but were paid for the next year and so on.
- We may do more extensive work depending on the nature of your business and the nature of the professional account report you require – compilation report, review engagement report or auditors report.
- We prepare a set of financial statements that will include a professional accountant report that we will discuss with the Company directors who will then sign the financial statements.
- We will prepare the corporate income tax return from the financial information and discuss the tax return and the resulting taxes owing with the company directors and obtain a signature from an appropriate company director
- Finally we will Efile the tax return and provide the company with a confirmation of filing from CRA
- Our CorporateYearEnd Services ensure that we inspire confidence in our clients that we are working together with them to ensure their business is being taken care of