For businesses
Bookkeeping and payroll in Vaughan
Bookkeeping is the record of what your business actually did. Payroll is what you owe your staff and the CRA for employing them. Both run on a schedule, and both cause problems when they slip.
Call (437) 248-6694Email adit@indovation.caVaughan, Ontario · remote across Canada
Who it is for
Who it is for
Incorporated businesses and sole proprietors who would rather not keep their own books — typically owners with between a handful and a few thousand transactions a month, with or without employees.
It also suits businesses that have fallen behind. A year of unreconciled transactions is a common starting point, not a disqualifier.
What is included
Included
- Monthly or quarterly reconciliation of bank and credit card accounts
- Recording sales, purchases and expenses, with supporting documents filed
- Accounts payable and receivable tracking
- Payroll runs, with CPP, EI and income tax calculated
- Source deduction remittances prepared on your CRA schedule
- T4 slips and the T4 summary at year-end
- Year-end records handed over clean, ready for the corporate return
Not included
- Cleanup of records is quoted separately from ongoing monthly work
- Payroll for employees outside Canada
- Acting as your payroll bank — you remain the remitter of record
What to expect
- Start with a free consultationBy phone, video or in person at the Vaughan office. Bring questions, not paperwork.
- Bring what you haveBank statements, invoices, prior returns, a spreadsheet, a folder of receipts — whatever exists. Gaps are normal and sorting them out is part of the job.
- Ask what it will costYou get a figure for your actual situation before any work starts.
What to have ready
Bank and credit card statements for the period, access to your accounting file if you already use one, a list of employees with their pay rates and TD1 forms, and your CRA business number.
If you do not have all of it, start anyway. Working out what is missing is faster in a conversation than alone at a desk.
What it costs
Fees depend on the size of the job — how many transactions there are, how many people you pay, and how much needs rebuilding before the filing can be done.
The first consultation is free. Ask what your situation would cost and you will get a figure for it rather than a range off a price list.
What this does not cover
Indovation prepares books, returns and filings. It does not provide formal opinions on financial statements for a bank or another lender, and it does not give licensed financial-product advice.
If your situation needs either, you will be told at the first conversation and pointed toward someone licensed for it.
Monthly books mean a year-end that is not a scramble
Remittances go out on schedule because the records behind them are current — not reconstructed in March.
Questions
Questions about bookkeeping and payroll
How often does bookkeeping get done?
Monthly is the most common arrangement, because it keeps GST/HST and payroll remittances on schedule. Quarterly and year-end catch-up work are also available.
Can I switch mid-year?
Yes. Switching partway through a year is common. The existing records are picked up from wherever they are — a prior bookkeeper, a shoebox, or a spreadsheet.
When are payroll remittances due?
For most small employers, the 15th of the month after you pay your staff. Larger payrolls remit more often. Your remitter type is set by the CRA based on your average monthly withholding amount.
What does it cost?
It depends on how many transactions you have, how many people you pay and how complex the year-end is. There is no charge for the first consultation, and you can ask what a piece of work will cost before you commit to it.
Work it out
Calculators for this
Payroll remittance due date
Your remitter type and the exact date the CRA expects the money.
Open the calculator02Personal tax and savingsTake-home pay
What actually reaches your account, after tax, CPP and EI.
Open the calculator03Running a businessCash runway
How long the money in the account actually lasts.
Open the calculator
Next step
Get your books onto a schedule
Book a consultation and describe where the records currently stand.