Year-end preparation organizes your financial records, reports, and tax information to ensure a smooth close to the fiscal year. Proper preparation reduces errors, simplifies collaboration with your accountant, and ensures compliance with CRA requirements. Here are the key components:

1. 1. Record Review: We carefully review all financial records from the year, identifying and correcting errors, discrepancies, or missing information before year-end reporting.
2. 2. Account Reconciliation: Bank accounts, credit cards, and loan balances are reconciled to ensure every transaction is recorded accurately and your books match actual balances.
3. 3. Financial Reports: Detailed balance sheets, income statements, and summaries are generated, giving a complete view of your business performance for the year.
4. 4. Payroll Slips: Year-end T4 slips and summaries are prepared accurately, ensuring employee records are complete and CRA requirements are met without delays.
5. 5. Collaboration with Accountant: We coordinate directly with your accountant, providing them with clear, organized documentation to simplify the tax filing process and reduce preparation time.
6. 6. Compliance Check: All reports and records are reviewed against CRA standards, helping your business stay compliant and avoid penalties during year-end filings.

Professional year-end preparation ensures your financial close is accurate, organized, and stress-free—setting your business up for a successful new year.