Newly established businesses or startups

Assisting you in maximizing your profit

Personal Tax Returns

Accounting Services for Startups

As a startup founder, you have numerous responsibilities and challenges to face while bringing your idea to life and managing day-to-day operations. Amidst all the administrative tasks, maintaining proper accounting records and bookkeeping can become overwhelming. However, neglecting your financial records can create hurdles when legally incorporating your business or during CRA audits.

Cash flow is crucial for new businesses, given limited resources and higher expenses. Getting professional help for your accounting needs from the start is essential.

At Business Development Services, we provide comprehensive support, from managing day-to-day operations to long-term strategy, ensuring your business is profitable. We adapt to rapidly changing business models, leveraging the latest technology and financial expertise to prepare your startup for success. Our services include bookkeeping, payroll, corporate and personal tax returns, correspondence with regulatory authorities, audit assistance, and tax planning.

Services we offer:


1.Comprehensive Accounting Infrastructure Review and Process Implementation (1-month duration).

  • Introduce team and evaluate existing processes
  • Review and document detailed accounting infrastructure processes, covering bookkeeping, accounts payable, accounts receivable, and tax compliance.
  • Assess and optimize software and application stack for enhanced efficiencies, automation, and improved controls.
  • Deliver logins and training to internal team members.

2.Continuous Monthly Managed Back Office Services.

  • Monthly data entry and transaction review
  • Monthly bank account reconciliation
  • Monthly identification of credit card expenses
  • QuickBooks Online (QBO) review
  • General Bookkeeping Support
  • Management Reports, including Key Financial Data
  • Accounts payable support and Payables Management
  • Plooto payments setup and integration
  • Monthly payment to vendors and contractors
  • General Accounting and Bookkeeping advice
  • File HST and make tax payments (including HST and Corporate Tax)
  • Bi-weekly payroll processing and recording
  • Maintenance of Payroll Software
  • Onboarding of New Employees
  • Management of bi-weekly Payroll Cycles
  • Maintenance of Record of Employment (ROEs)
 

3.Professional Senior Financial Management Services.

  • Monthly financial reporting
  • Monthly performance against budget reports
  • Cash flow management assistance
  • Involvement in the budgeting and forecasting process
  • Coordination with the management team for ad hoc reports and external fundraising advisory.

4. Certification Letters.

  • Confirm financial health for employee immigration purposes
  • Sign off on attestation letter for immigration requirements
  • Provide ongoing updates to attestations as needed.

5.Assistance with SR&ED and Grants.

  • Technical and SR&ED Tax Preparation with all schedules and reports
  • Grant advisory and procurement services
  • Eligibility assessment and education
  • Step-by-step guidance through the claim process
Corporate Professionals

Expert Startup Advisory Services

Professional Financial Advisory Services.

Our experts are skilled in assisting with SR&ED claims, business consulting, forecasting, and budgeting. We can create a comprehensive financial model to simplify your business decision-making process.

Comprehensive Accounting Solutions.

We offer assistance in preparing financial statements, conducting audits, and reviews for your business. Our reliable accounting software and proven processes ensure that every transaction is accurately categorized and easily traceable.

Professional Tax Solutions.

Leave all your worries about Personal and Corporation Taxes, HST, Payroll Taxes, Tax Planning, and Advisory to us. We will handle everything for you.

Company Incorporation.

Our incorporation services offer potential tax relief and asset protection, benefiting startups by reducing liabilities.

Expert Bookkeeping Solutions.

Leave your bookkeeping to our proficient and professional team. We will ensure your practice finances are kept in order while you focus on growing your business. Our bookkeepers will keep your books and records updated at all times.

Newly established businesses or startups

First Time Business Owner

Are you feeling overwhelmed as a first-time business owner, not sure where to start? Don't worry; we have a wealth of resources to support your success and help your business flourish. At Business Development Services, we understand the unique challenges faced by startup entrepreneurs. Our specialized accounting services cater to the needs of new businesses, encouraging growth and prosperity. We offer a wide range of services, including Advisory, Accounting, Tax, Incorporation, Bookkeeping, Payroll, and year-end accounts filing.

Accurate and up-to-date financial statements are essential when reaching out to investors or facing a CRA audit. By outsourcing your startup's accounting services to us, you can focus on your business while leaving the accounting worries to our experts. For more information, feel free to contact Business Development Services.