Home About Us Taxes What we do FAQ Blog

Our services

We are happy to offer several services to help your business work smarter and ease the burden of bookkeeping and annual tax reporting. Please click on a service below to learn more about how we can help you!

Compilation Engagements

A Compilation Engagement enhances financial data credibility for banks and investors.

Compilation Engagements

A Compilation Engagement is beneficial for Canadian taxpayers as it provides a more credible and transparent presentation of financial information, which is crucial for decision-making by third parties like banks and investors. The engagement also ensures that the financial information is prepared in a consistent and professional manner, adhering to the latest standards.

Originally, financial statements compiled under the Notice to Reader standard were assumed to be used only by management. However, these financial statements are often shared with third parties like banks for mortgages, credit cards, or loans. The new Compilation Engagement standard takes these third parties into consideration, ensuring that the financial information presented is not misleading. This increased credibility is particularly important for banks and investors who make decisions based on this financial information, and may require this report before proceeding with financial transactions like offering a mortgage, credit card, or loan. Not having such a report can lead to delays and additional costs, especially if the bank requests financial information that wasn't prepared under their required basis of accounting.

Review Engagements

This service offers credible financial reviews, less detailed than audits but more than compilations

Review Engagements

A Review Engagement provides a solid foundation of credibility for a business. It involves a Chartered Professional Accountant (CPA) firm assessing financial statements to ensure they align with the applicable financial reporting framework. This process increases the trustworthiness of the statements, which is vital for stakeholders such as lenders, investors, and regulators.

The report generated from a Review Engagement allows business owners to make informed decisions and plan future activities based on their financial position. They are more comprehensive than a compilation but less exhaustive than an audit, offering a moderate level of assurance about the financial statements.

Corporate & Personal Income Tax Return Prep

Extensive personal and corporate tax services

Corporate & Personal Income Tax Return Prep

Our tax services encompass both personal and corporate tax preparation, ensuring thorough compliance and optimization under Canadian tax laws. This dual-focused service caters to individuals as well as businesses, offering a comprehensive and streamlined approach to tax management.

Personal Tax Services:

Comprehensive Tax Preparation: Thorough preparation of personal income tax returns, taking into account all applicable deductions and credits to minimize tax liabilities.
Tax Planning and Advice: Personalized tax planning strategies to maximize financial opportunities and future tax savings.
Audit Assistance: Support in the event of a CRA audit, providing representation and guidance through the audit process.

Corporate Tax Services:

Corporate Tax Return Preparation: Expert preparation of corporate tax returns, ensuring accuracy and compliance with complex tax regulations.
Strategic Tax Planning: Proactive tax planning for businesses, including structuring and reorganizing for tax efficiency and future growth.
Compliance and Reporting: Assistance with corporate tax compliance requirements, including GST/HST, payroll taxes, and other corporate tax filings.

This service aims to relieve the stress of tax season by providing expert guidance and support, ensuring clients’ financial interests are well-represented and safeguarded. With a focus on personalized service, every tax situation is given meticulous attention, whether it's for an individual or a large corporation.

Corporate tax restructuring & reorganizing

Customized Corporate Tax Restructuring services to improve financial health and compliance.

Corporate tax restructuring & reorganizing

Services for Corporate Tax Restructuring are designed to enhance the financial health of your business, ensuring adherence to Canadian tax laws. Acknowledging the pivotal role of tax planning and structuring in corporate growth, the focus is on a detailed analysis of your corporate structure. This process uncovers strategic opportunities for boosting tax efficiency and mitigating risks.

Guidance in corporate restructuring, including mergers and acquisitions, is provided to maintain tax efficiency during pivotal business transitions. This also involves identifying and addressing tax risks linked to corporate structurer, protecting your business from unforeseen liabilities.

The aim is delivering solutions customized to match business objectives, prioritizing tax efficiency and regulatory compliance. This approach is not just about meeting current needs, but also about fostering a lasting partnership, offering continual support and insights as your business evolves in the dynamic landscape of corporate taxation.

Succession & Estate Planning

Creating personalized estate plans for tax efficiency and tailored asset distribution.

Succession & Estate Planning

Assisting in the creation of comprehensive estate plans tailored to individual wishes is a key service, aimed at minimizing taxes and ensuring asset distribution according to specific desires. The focus is on planning a financially secure retirement, with an emphasis on preserving the estate to support both personal needs and legacy goals. Recognizing the uniqueness of each client's situation, a personalized approach is adopted to tailor plans to specific needs and goals. Complex financial concepts are explained in clear, understandable language, ensuring clients are fully informed at every step of the process

Effective bookkeeping is crucial for business success. We can tailor these services to your needs.

Bookkeeping

Bookkeeping is as much at the heart of business success as the core product or service you provide. With a clear financial picture, you will be better prepared to drive your business in the right direction.

Our bookkeeping services are tailored to suit your particular needs. Whether you need full-cycle bookkeeping services or assistance with one or more aspects of bookkeeping, we will integrate with your business based on your requirements. Here is a general guideline of what we can do for your business. Contact us for a free consultation, where together we will create a customized plan to maximize your business’ potential.

We work with both Sage 50 and QuickBooks Online, along with various apps to make record keeping easier.

General Ledger

Chart of Accounts development and maintenance
Trial Balance
GST/PST calculation and report
Journal entries
Key account reconciliation
Bank and credit card statement reconciliation

Payroll

Managing your payroll and maintaining your payroll records
Calculating payroll deductions and providing remittance amounts for CRA
Issuing Record of Employment and T4 slips
Preparing and submitting the annual T4 Summary
WorkSafeBC forms and remittances

Accounts Payable

Recording vendor invoices
Cash management
Printing cheques or setting up online payments for approval
Generating aging reports

Job Costing

Tracking costs by job
Preparing job profitability reports

We will prepare an annual year-end package for your accountant and answer any questions they have in the process of the completing your year-end.

Accounts Receivable

Invoicing your customers
Setting up automatic payments through a third-party app
Generating aging reports
Preparing collection letters with follow-up activity
Posting invoices and bank deposits

Ready to file your personal taxes?

Fill out our intake form!

Navigation

Contact Info

766 Hillside Ave Victoria, BC V8T 1Z6

Telephone:

Fax:

(250) 590-5392

Mail:

admin@numberra.ca

Follow Us

© 2024 Numberra. All Rights Reserved