MONTHLY BOOKKEEPING

Bookkeeping involves maintaining accurate and updated records of all of your company’s financial activity. This includes bank records, payroll records, purchase and sale records, and regulatory filings. These records are essential to regulatory compliance. Proper bookkeeping makes other accounting functions, such as audits, payroll, and tax preparation, much simpler and less time-consuming. We will:

• Reconcile credit card and bank statements

• Reconcile accounts receivable and accounts payable

• Reconcile intercompany accounts

• Maintain data feeds into your Quickbooks Online file

• Month-end accruals and adjusting entries

• File GST and PST (as applicable) returns as per CRA and provincial deadlines

• File WCB or Worksafe BC (as applicable) annual and quarterly reports as required

• Issue monthly Profit and Loss statements

• Issue monthly Cash Flow report

• Issue monthly report comparing projections to actual results

• Liaison with year-end Accountant

• Complete year-end accruals and adjusting entries

• Enter any adjusting entries provided by the year-end Accountant.

PAYROLL

Payroll is a critical business operations function performed by your accounting team. Payroll involves managing all employee compensation, benefits, and withholding. We manage your payroll on an ongoing basis, ensuring that all employees are compensated according to their employment agreements, benefit selections, and the Alberta Employment Standards Act. We will:

• Process bi-weekly payroll

• Submit payroll remittance per applicable CRA deadlines

• Prepare T4's at the end of the calendar year

• Manage enrollments and terminations in your benefits plan, as applicable

• Process ROE's as required

• Create confirmation of employment letters as required

• Advise on changes to Alberta Employment Standards Act as they relate to the Company and its employees.

ACCOUNTS PAYABLE MANAGEMENT

Accounts payable are an important function of any company. The management of them refers to the practices and policies used by any business with respect to managing trade credit purchases. We will:

• Create a process with specified approvals to process vendor payments twice monthly via EFT, Credit Card payment, or issue cheques as appropriate.

• Reconcile Vendor statements

• Handle Vendor account inquiries.

INVOICING

Invoices are documents that itemize and record a transaction between a buyer and a seller. By entrusting JCPC with the creation and distribution of them, you can ensure a consistent quality of work nearly effortless on your part. We will:

• Prepare monthly client invoices based on contract values and management direction

• Prepare and send statements for overdue accounts

• Follow up on outstanding receivables at management's direction. *

*Please note that this is an hourly engagement. We generally estimate 20 - 30 hours per month, however, exact hours will be invoiced.