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    Accounting, Payroll & HST

    If you’re like most people, paperwork and number-crunching are not your favourite things to do. These require time and lots of energy, time and energy better spent doing what you’re good at. You would rather focus on running your business and taking care of the other things on your plate.

    Why struggle when you already have a growing list of responsibilities? Our services are designed to make your life easier so that you can focus on what you do best.

    At KS Professional Corporation, we realize the importance of getting accurate, up-to-date financial information to help you make informed business decisions. We pride ourselves on attention to detail in all we do, to put our skills and knowledge to work for you.
    Our team will work with you in order to determine what your needs are.
    Accounting Services
    Our accounting services are designed to provide you with the tools in order to properly manage your business. These include:

    • Preparation of financial statements, including balance sheet and income statement;
    • Preparation of management reports, including reports specific to your business;
    • Budgeting and forecasting;
    • Cash flow management;
    • Year-end working paper preparation;
    • Analysis of financial results;
    • Assistance with third party audits;
    • Job costing

    Bookkeeping Services
    Our bookkeeping services are designed to keep your financial records current. Our bookkeepers are accurate, efficient and know their debits and credits.

    We offer a full range of bookkeeping services that can be tailored to your needs. We provide set-up and full cycle bookkeeping services using Quickbooks and Sage accounting software packages.

    Our services include:

    • Creation and set-up or restoration of company file;
    • Conversion from another accounting package;
    • Design and set-up of chart of accounts in such a manner as to provide you with the most user friendly financial reports, using class or project codes if necessary;
    • Posting of all bank and credit card transactions;
    • Accounts payable transactions, including recording and posting of bills, scheduling of bills for payment, computerized and non-computerized cheque preparation and preparation of monthly aging reports;
    • Accounts receivable transactions, including recording and posting of invoices and deposits as well as preparation of monthly aging reports;
    • Reconciliation of accounts including bank, credit cards, accounts receivable, accounts payable, investments, government remittance accounts including GST/HST, WSIB, EHT, corporate income taxes and source deductions, shareholder, intercompany and related party accounts. Other accounts as needed;
    • Month end adjusting entries;
    • Preparation of all government remittances.

    Cloud-based Services
    Use of a cloud-based accounting system can give you access to your accounting files from anywhere, anytime. As long as you have access to the web, you can access your data. You can access your accounting software just as you would access any other web page.

    You also no longer need to worry about backing up your data. Since data storage is their business, cloud service providers keep up-to-date backups on their servers.

    Cloud service providers ensure that their infrastructure is secure and that their clients’ data and applications are protected. The user will take measures to fortify their application and use strong passwords and authentication measures.

    It’s a growing trend in the accounting software industry, as new companies, as well as industry veterans alike roll out cloud-based accounting packages.

    Another benefit of the web-based platform is the ability to give us access to your records. By granting us access, we can review your books for you from anywhere. It makes it easy and convenient. We can have a look at your data as little or as often as you like.
    Payroll Services
    Our payroll services are designed to meet your specific needs. We can:

    • Prepare payroll on a weekly, bi-weekly, semi-monthly or monthly basis;
    • Issue pay stubs;
    • Prepare payments to employees by cheque or direct deposit;
    • Prepare Record of Employment forms;
    • Prepare and reconcile T4’s, T4A’s, T5018’s, EHT returns and summaries;
    • Calculate, pay and reconcile deductions payments, WSIB and EHT remittances;
    • Summarize and submit information to external payroll companies.

    Training Services
    Our team has the experience and knowledge to assist with training internal staff members who choose to take on bookkeeping responsibilities. We can assist them in developing their own bookkeeping knowledge and required skillset.