Accounting

Accounting Services

As a business owner, you will rely on accurate and timely financial information to make quality decisions. We believe that meaningful, well-organized financial records will ensure that your business operations run more efficiently and effectively. Here at Sherry Huang, CPA, CGA firm,  we are dedicated to delivering best accounting services to our customers within their budgets and timelines. Our cost effective accounting services include the following:

• Complete bookkeeping

• Compilation of financial statements 

• Payroll services

• Accounting system support

Bookkeeping Service

We have professionally-trained staff that can provide computerized monthly, quarterly or annual bookkeeping for clients who do not have full-time accounting staff. It can be done on or off-site, by hourly or set fee. Our firm will work closely with each client to develop a bookkeeping solution that can provide you with the most relevant financial information and guide your business to success.

• Accounting system setup

• Chart of Accounts set up 

• Journal entries and adjusting entries

• Bank Reconciliations

• Billing and Accounts Payable

• Invoicing and Accounts Receivable

• Payroll register 

• General Ledgers 

• Internal financial statements tailored to your needs

• Monthly remittances (ETD, WSIB, EHT) 

• HST Compliance reporting

• Correspondence with all levels of government

The benefit of outsourcing your bookkeeping:

In the long run, by outsourcing your bookkeeping, you’ll reduce staffing needs and associated employment costs such as:

• Employee benefits (CPP, EI, WSIB etc). 

• Staff training time and expenses

• Employee management costs

• Equipment and software costs

As experienced bookkeepers, we will ensure that your business transactions are properly accounted and classified. This should eliminate errors in tax filings, which could otherwise lead to costly reassessments from government authorities. You will likely save more than our services costs! More important,  you can free up your time and concentrate on your core business!

Financial Statements

Financial statement preparation, which is a compilation of your general ledger into an understandable set of statements that follows best practices and professional standards. Our team takes your numbers and builds a reliable set of financial statements for various stakeholders, compliance requirements and general business decision making. Financial reporting issues that we deal with include:

• Financial statements (Notice to Readers), 

• Cash flow management, projections, budgeting and forecasting, 

• Detailed cost & financial analysis

• Annual accounting packages for review or audit engagements by other firms

• Other financial reports as per external requirements

We don't just provide you with the financial statements. We take the time to get to know your business, how it operates and provide affective tax planning, accounting and business  solutions.

Payroll Services

Payroll errors can be very costly. Severe penalties will be applied by government authorities for late remittance or late filing. Our experienced payroll management ensures that your payroll is accurate and on time. Payroll services we offer include:

• Payroll (weekly, bi-weekly, monthly, semi-monthly) calculation and cheques run 

• Monthly remittances (Payroll Tax, WSIB, EHT) 

• Accrued vacation pay tracking

• Hire/Termination of employees (ROE and all related payroll forms)

• Administration of employee benefits

• Annual filing of T4/T4A/T5/T5013/T5018 and related summaries

• WSIB compliance

• Correspondence with all levels of government

Accounting System Support

Our firm is experienced with the installation of software and can train you in all aspects of the programs for QuickBooks and Simply Accounting.

• Choose a proper accounting software that meet your needs

• Accounting System set-up and training

• Setup a chart of accounts and general ledger