Full-cycle bookkeeping is a comprehensive financial management service that ensures every aspect of your business records is tracked, accurate, and compliant. Here are the key components:

1. 1. Initial Setup: We begin with a thorough review of your existing records, accounting systems, and reporting processes. Any inconsistencies or errors are corrected, missing information is identified, and a structured framework is established. This foundation ensures accuracy and consistency in all future bookkeeping tasks.
2. 2. Transaction Recording: Every financial activity—sales, purchases, expenses, and receipts—is carefully entered and categorized. By capturing daily transactions in detail, we maintain a complete and transparent record of business activity. This step ensures that nothing is overlooked and that your financial data always reflects the real state of your operations.
3. 3. Monthly Statements: We prepare accurate and timely financial statements each month, including balance sheets, income statements, and cash flow reports. These reports provide you with insights into profitability, growth trends, and financial stability. Having this information readily available allows you to make informed decisions with confidence and plan strategically for the future.
4. 4. Reconciliation: Bank accounts, credit cards, and loans are reconciled against your recorded entries to confirm accuracy. This process ensures that every transaction matches, helping to detect discrepancies, prevent errors, and safeguard against fraud. Regular reconciliation strengthens financial integrity and gives you assurance that your records are always dependable.
5. 5. Payroll: We manage payroll processing with precision, handling wages, benefits, deductions, and direct deposits on schedule. Comprehensive payroll records are maintained for every pay period, and year-end T4 slips or summaries are generated as required. This ensures your employees are paid correctly and on time, while your business remains fully compliant with payroll regulations.
6. 6. Tax Support: At year-end, we compile and organize your financial data into clear, comprehensive reports. This preparation streamlines collaboration with your accountant, reduces delays, and ensures accurate tax filings. By keeping records in order throughout the year, we help maximize deductions, minimize errors, and simplify the filing process when deadlines arrive.
7. 7. Compliance: All bookkeeping practices are aligned with CRA requirements and recognized accounting standards. By maintaining strict compliance protocols, we help protect your business from penalties and audits. This focus on accuracy and accountability ensures your financial records remain reliable, transparent, and legally sound at all times.

Professional full-cycle bookkeeping delivers organized, transparent records and the confidence to make informed decisions—freeing you to focus on growth.