New Business Start-Up

Accounting is the backbone of every organization. After starting your new business in Canada, you will deal with numerous business transactions. Your business will also interact with stakeholders, customers, creditors, and debtors.

To manage these interactions, your business will have to leverage an accountant services. MHL Chartered Professional Accountant Inc. will allow your business to succeed by creating a conducive business environment and minimizing losses.

Our team is ready to help you with all your accounting needs. We pride ourselves in helping our clients set up successful entrepreneurial startups. Take a glance at our comprehensive business startup services below:

About

Organization of Financial Paperwork

Organizing financial records, including your business payroll, loan agreements, expenditure documents, and receipts is the key to success. Keeping your financial paperwork organized provides the following benefits:
$

Tax Compliance

Organized financial records will enable your business to stay ahead of its tax requirements. It will be easy to find the required tax documents for timely and painless filing.
$

Budgeting Becomes Easy

The budgeting process will be seamless if you know where to get the financial records you need. Organizing your financial paperwork will also allow you to keep track of your expenses and profits to create a practical budget.
$

Save Time

Organizing your financial paperwork will allow you to complete financial processes quickly and conveniently, saving you time. You can now focus on other crucial business services like support and marketing.

Set-Up of Accounts

Setting up accounts is the first thing you should do once you start your new Canadian business. With a reliable framework of accounts in place, organizing crucial business paperwork including expenses, revenue and tax documents will be easy.

The chart of accounts will be an index of all your company’s financial accounts. It makes it easy for accountants to identify transactions when filing the general ledger. We will organize your accounts in logical categories to track revenue, assets, liability, equity, and expenses.

We will set up a computerized system for easy and convenient management of your accounts.

 

Set up of Accounting File

A reliable and functional accounting file will make it easy to manage your company’s finances. It reduces the time and effort allowing you to have ample time to focus on other important business aspects, including marketing and sales.

An accounting file makes budgeting easy since financial information is readily available. Solving financial issues becomes quick and convenient since you can access all the financial records quickly and easily.

We will understand your business structure before setting up your accounting file. We will determine how cash flows and designate a section for vendor invoice folders, receivables, accounts payable, bank statements, checks, equipment warranty, taxes, and customer invoice.

QuickBooks, Sage, or Xero training

Using cloud accounting tools will give you control over your accounting while allowing you to maximize tax deductions. Cloud accounting tools like QuickBooks, Xero, or Sage will also enable you to stay ahead of your projects and time tracking.

Xero and QuickBooks are ideal for small to mid-sized businesses. Our dedicated team will help you choose the ideal cloud accounting tool. We will also train you to allow you to get the best from your preferred tool.

GST Number Registration

Also known as, a goods and services tax number, GST number is assigned by the Canada Revenue Agency. It is a unique tax identification number. You will be using your GST number while doing business. Moreover, it should be displayed on your invoices.

You will require the right date of registration, Fiscal year, basic information, and total annual revenue when registering your GST number. You can register your GST number by mail, telephone, fax, and online. Our office can assist you in registering your company for a GST number.

Professional Bookkeeping Services

You run the risk of running into serious financial difficulties if you do not hire professional bookkeeping services from a Chartered Professional Accountant. Moreover, your business will miss opportunities and waste of time.

Our professional bookkeeping services will allow you to focus on managing your business and overcome tax preparation difficulties. You will also identify new revenue streams and have the peace of mind knowing your future is secured.