CPA firm for both bookkeeping and tax filings
We help corporate small business who don’t currently have a bookkeeper
Bookkeeping and corporate tax
Unlike other Vancouver CPA firms (who work with external contract bookkeepers or clients who do their own bookkeping), we perform corporate bookkeeping in-house so that we control quality and educate our clients during regular working meetings throughout their tax year so they can make informed timely choices about their tax and business matters
Form T2 and GST Returns
Unlike operating as a sole proprietorship [where only income statement information (i.e., sales / expenses) is reported to CRA each year)], a corporation must report its balance sheet as well as its income statement to CRA each year which means that a corporation is required to have double entry bookkeeping and reconcile its bank balance(s) monthly
Annual financial statements
Using reports from accounting software we prepare clients' year-end financial statements
Bookkeeping is required reflect corporation’s transactions such as:
• Invoices as revenue / accounts receivable
• Applying the deposits against the accounts receivable (to show payment of invoices) and recording withdrawals as being for expenses or Due to shareholder
• Working from loose original source receipts, compiling business expenses for items which did not go through the corporate bank (such as telephone, travel, meals / entertainment, internet, computer) and record these against your shareholder loan
• Reconciliation of corporation’s bank account so that the amount shown in QuickBooks software matches what is shown on the monthly bank statements
For clients who don’t currently work with an outside payroll agency we can help with monthly payroll
If you are looking for a personalized, individualized, community approach to the tax season, Staffords is the place.
It has been a revelation to work with Staffords since 2006 when we moved from our prior accounting firm. I would not hesitate to recommend Staffords to anyone who is looking for the full spectrum of professional business and personal financial services in a customized boutique partnership.