Accounting & Bookkeeping

Accounting & Bookkeeping Services

Calgary, Alberta

Keep your books accurate and compliant by retaining the services of L Bloxham Professional Corporation.

Most businesses would be well-served by having a master bookkeeper and professionally designated accountant to manage those services accurately and to ensure compliance with existing rules, regulations, and laws. With this major task offloaded to the hands of professionals such as those at LBPC accounting and tax firm, your time will be freed up so you can focus on running your business. The benefits of using a bookkeeper or accounting technician are that they have the knowledge, skills, and experience with different industries, and can transfer efficiencies, processes, and proficiency when doing your books.

The bookkeeper has the time and enjoys sorting, matching, and organizing your source documents. The bookkeeper can quickly and efficiently enter data in accounting software to ensure reliable, accurate, consistent, transparent and relevant information for reporting purposes. After entering all the data, then the fun part comes in – reconciling all the balance sheets accounts and profit and loss accounts. Once that is completed, the bookkeeper can provide reports to you and your accountant for management discussions and analysis.

Having a bookkeeper means you can work on your business rather than in your business.

Here are some of the tasks and services we can assist you with in the area of accounting and bookkeeping:

everyday bookkeeping
bookkeeping on a periodic basis, example: monthly, quarterly, semi-annually, or annually
full-cycle accounting and record-keeping
sort, organize, and match source documents
data entry and reconcile bank, clearing, investment, credit card, intercompany, trust, related party, loan account, and other related balance sheet accounts
data entry and reconcile accounts receivable, customer invoices, and deposits
data entry and reconcile accounts payable, vendor invoices, and payments
data entry and reconcile inventory and work-in-progress
data entry and reconcile capital asset and intangible asset
input foreign exchange transactions
compile payroll on a monthly, semi-monthly, or bi-weekly schedule, journalize entry, and provide CRA payroll remittances payment amounts
compile CRA, GST/HST, and PST reports monthly, quarterly, annually, and journalize entry
T-slips preparation, reconciliation, and reporting
reconcile CRA account for payroll, GST/HST, taxes, and other related accounts
reconcile provincial accounts for PST, taxes, and other related provincial or territorial accounts
financial and non-financial reports
cleanup and management
setup and maintenance of accounting software such as chart of accounts, classes, projects, items, lists, and reports
general ledger management
bookkeeping training and education
accounting software training
assist clients with business planning
advice on how to increase or diversify revenue streams and decrease expenses
assist with government compliance
bookkeeping review of external bookkeepers work, and provide list of improvements for reporting requirements

The Critical Nature of Accounting & Bookkeeping

As a bare minimum, professional accounting will free up your time to manage your business, but it can be much more valuable than that. It would be well worth your while to engage the services of a specialist. Timely communication is key. It is important to keep the communication lines open, so we can proactively make changes as needed, while compiling the bookkeeping for proper reporting requirements. By providing us the source documents we need, we are then able to create a flow of highly accurate, consistent, and concise accounting data entry inputs to get the desired output reports.

In addition, your business statements and reports can be kept relevant and reliable, so you have a true reflection of how well or poorly your business is doing. Of course, proper output reporting is a must at year-end, especially when you are obligated to file your government reports and return with the CRA and/or provincial/territory agencies. You would probably even find that it is actually less expensive to retain the services of a highly qualified professional than it is to attempt the bookkeeping function yourself. If you should make a costly mistake, the penalties you incur could easily have paid for a master bookkeeper or professional accountant services.

We offer online bookkeeping services done by Canadian residents. We do not outsource to bookkeepers outside Canada. We have portals for our clients to upload source documents, so there is no need to track down the paper. With technology improving every day, we strive to utilize these new tools, as it improves our efficiencies and gives you access to the most up-to-date reports at your fingertips, no matter where you are in the world. Just as an example, we can prepare all bookkeeping online, you can see receipts online, and view reports online.

There are few things just as important as maintaining accurate business records, and it is no exaggeration to say that it can even play a significant role in the overall success of your business. That is why it should be entrusted to the hands of a professional who has your best interests at heart, and who has studied your business well enough to have a thorough understanding of your processes.

When you can count on having accurate information available to you, it becomes much easier to make good business decisions that will bring about future growth and success.

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