Accounting Services
Year-end accounting, adjusting entries, and reporting prepared in Calgary so your numbers are accurate before anything is filed with the CRA.
Bookkeeping records what happened. Accounting turns those records into something you and the CRA can rely on. At year end we take your books, post the adjusting entries a bookkeeper does not handle, and produce a clean set of figures that carries into your corporate or personal tax return. That includes depreciation on your capital assets, accruals for expenses incurred but not yet paid, shareholder loan reconciliation, and correcting any misposted transactions from the year.
For owner-managed corporations, this is also where compensation planning happens. The split between salary and dividends affects your personal tax, your corporate tax, your CPP contributions, and your RRSP room. We run the numbers before the year closes rather than after, when there is still time to change the outcome. If your corporation is approaching the small business deduction limit or has passive investment income, that gets flagged here too.
The result is a year-end file that is consistent, defensible, and ready for whatever comes next, whether that is a T2 filing, organized records for a compilation engagement your bank has asked for, or a financing application. Nothing gets filed until the underlying accounting is right.
What's Included
- Year-end adjusting journal entries and trial balance review
- Capital asset schedules and capital cost allowance calculations
- Shareholder loan account reconciliation and review
- Salary versus dividend compensation planning for owner-managers
- Year-end working paper file supporting every figure reported to the CRA
FAQ
What is the difference between bookkeeping and accounting?
Bookkeeping is the ongoing recording of transactions through the year. Accounting is the professional work layered on top: adjusting entries, capital cost allowance, accruals, compensation planning, and the judgment calls that determine what actually gets reported. Many businesses need both, and we offer both.
When should year-end accounting be done?
Your corporate return is due six months after your fiscal year end, and any balance owing is generally due two or three months after year end depending on your situation. We plan the year-end work back from those deadlines and start once the records for the year are complete, so there is time to review the results and plan before anything is filed.
Can you take over from my previous accountant mid-year?
Yes. We request your prior year working papers and tax filings from the previous accountant, review the opening balances, and pick up from there. Switching accountants does not require you to wait for a year end.
Need help with Accounting Services?
Tell A4SB about your accounting needs and we can discuss the support that may be relevant to your situation.