All companies must ensure the sound management of their accounts. As a result, they must comply with several rules and legal formalities in the field of a business accountant, more specifically in bookkeeping, record keeping and payroll management.
Accounting mechanisms are complex and certain methods of work must be employed. That's why hiring an accountant is essential. The accounting services offered by Colas Accounting will help you better understand the state of your company's finances, thereby helping you improve its management, by having quick access to key information.
The services offered by the Colas Corporate Accounting team include:
Business accountant for business start-up;
Accounting follow-up of the company's activities;
o "Cost-volume-profit" report
o Profitability level
o Company’s profit margin and production cost
o Economic performance of the company
o Net income following deductions and charges
Tax account management (QST, GST);
Financial and budget planning;
Filing income tax returns;
Corporate remuneration (calculation and payment of salaries, preparation of wage declarations, production of employment records, benefits, etc.);
Accounting software installation and training of your staff for its use.
To assess the financial health of your business, we will determine the following financial ratios:
Liquidity ratio (working capital)
Return on total assets
Stock rotation ratio
Return on equity
Cash ratio or relative liquidity ratio
Debt /equity ratio
Net profit margin
The financial analysis by an accountant will assess the value of your business and its level of solvency. It will allow optimal management of your business.
The provincial and federal governments require your company to keep the following documents for a period of six years:
Income tax returns
Business registers and supporting documents
Paper or electronic receipts
Expense journal and sales journal
Collected and paid tax records
These documents will be required if you are subject to government audit.