Bookkeeping and Accounting Services in Scarborough

Expert Bookkeeping and Accounting Services to Help Your Business Thrive.

Our professional bookkeeping and accounting services are designed to help your business, not-for-profit, or charitable organization make sound financial decisions. By preparing your Income Statement, Balance Sheet, Statement of Retained Earnings, and Cash Flow Statement, we can provide you with a comprehensive overview of your financial position throughout the year. Our goal is to present you with a clear and accurate picture of your business, ensuring that you have all the information you need to make informed decisions. We take pride in our ability to provide reliable and trustworthy accounting services, making it easy for you to manage your finances with confidence.

Why do my Business Need a Bookkeeping and an Accounting service?

Bookkeeping and accounting services are financial services that involve recording, organizing, and managing financial transactions for businesses and individuals. These services are crucial for ensuring that financial records are accurate and up-to-date, and for providing valuable insights into the financial health of a business.

What is a Bookkeeping Service ?

Bookkeeping services typically involve tasks such as tracking income and expenses, reconciling bank and credit card statements, and managing accounts payable and receivable. These tasks are critical for small businesses and self-employed individuals, who need to maintain accurate records to track their financial performance and meet tax obligations. Bookkeeping services can also help your businesses identify potential financial issues early on and take corrective action.

What is an Accounting Service ?

Accounting services involve more complex financial tasks, such as financial statement preparation, tax planning, and audit support. These services are typically offered by certified public accountants and other accounting professionals who have advanced training in accounting and finance. A small business accounting service can provide valuable assistance with financial statement preparation, which is required for tax filings and loan applications.

Our Bookkeeping and Accounting Services Include:

• Financial Statements for your business monthly, quarterly or yearly basis.
• Income Statement, Balance Sheet, Statement of Retained Earnings, and Cash Flow Statements.
• Bank reconciliations.
• Business advisory services.
• Professionally maintain your all business transactions and records.
• Related other bookkeeping and accounting services.

How Our Bookkeeping And Accounting Services Can Help You.

There is a huge number of benefits when obtaining bookkeeping services and accounting services from Kennedy Tax & Accounting Inc., especially for small businesses. Our services can provide valuable financial insights and support, enabling businesses to make informed decisions and operate more efficiently. Some of the benefits of our bookkeeping and accounting service are:

• Accurate Financial Records: Our bookkeeping services can ensure that your financial records are accurate and up-to-date. This is essential for meeting tax obligations, obtaining financing, and making informed business decisions.
• Time Savings: Bookkeeping and accounting tasks can be time-consuming, especially for small business owners who have many other responsibilities. Outsourcing these tasks to a professional can free up time and enable business owners to focus on other aspects of their business.
• Financial Insights: Our accounting service can provide valuable financial insights and reporting, such as cash flow statements, income statements, and balance sheets. These insights can help businesses as well as small business owners to identify areas for improvement, make informed decisions, and plan for the future.
• Tax Planning and Compliance: Accounting services can also help small businesses and businesses to plan for taxes and stay in compliance with tax laws and regulations. This can include tax planning strategies, such as maximizing deductions and credits, and ensuring that tax returns are filed accurately and on time.
• Better Financial Decision-Making: By providing accurate financial records and valuable financial insights, our bookkeeping and accounting services can enable businesses to make informed decisions about their financial resources. This can include decisions about investments, expenses, and growth strategies.
• Improved Financial Management: Outsourcing bookkeeping and accounting tasks to a professional tax and accounting firm like Kennedy Tax and Accounting Inc. can help businesses to manage their finances more effectively. This can include managing accounts payable and receivable, tracking expenses, and ensuring that bills and invoices are paid on time.

How monthly books is handled here

The books produce the income statement, balance sheet, statement of retained earnings and cash flow. The firm can do that monthly, quarterly or yearly, reconcile the bank, and keep the transactions in order for a business, not-for-profit or charity. Accounting on top of the books covers the statements, tax planning and support if the CRA asks questions. Toronto searches for the same work belong on bookkeeping services in Toronto. Corporate filing is on the T2 page. Software such as QuickBooks or Xero can be used when you already keep the file there. The quote follows how many accounts and how far behind the books are. No monthly package price is published.

Kennedy Tax & Accounting Inc. works from one Scarborough office near Kennedy Station. You can come in or send the documents. English, Bengali and Tamil are spoken. Manoranjan (Mano) Talukder, CPA, leads the firm, which has done this work since 2010. Personal income tax returns start at $49.99 + HST. Other work is quoted before it starts.

Book from the contact page. If the CRA writes after a return is filed, bring that letter in. The firm explains how the return was prepared.

A file that is already reconciled each month is a shorter job than a year that has to be rebuilt. Say which one you are bringing.

For a plain-language overview of how the books fit together, read Accounting made easy: a complete guide for Canadians.