Experience seamless accounting and bookkeeping with NexGen.
Our services are customized to your individual needs. If you are looking for a service that is not listed, or you are not sure where to start, get in touch with us to find out how we can help.
Bookkeeping Services
Always be on top of your financial affairs with real-time insights from our cloud-based bookkeeping software. We can offer peace of mind that all the regulatory paperwork has been filed correctly or that your employees are paid accurately and on time.
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➤ Training and introduction to cloud accounting
➤ Reconciling bank and credit card transactions
➤ Categorizing revenues and expenses into the accounting system
➤ Tracking and recording accounts receivable and accounts payable
➤ Processing payroll and ensuring that Canada Revenue Agency (CRA) source deductions are calculated correctly and remitted in a timely manner
➤ Preparing and filing indirect tax (GST/PST) returns to ensure compliance with CRA
➤ WorkSafe and Employer Health tax filing
➤ Preparing financial statements and reports
➤ Year-end review and transitioning data from daily business activities to year-end financials and tax filings
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➤ Validating and modifying list items (chart of accounts, customers, vendors, items) for optimum use of the software, customized to your industry needs
➤ If desired, tuning up QuickBooks account by connecting bank and credit card accounts to your bank’s website to download transactions, with guidance on optimal utilization
➤ Customizing QuickBooks forms for a professional business look
➤ Setting up bank rules and reconciliation features for a smooth end-of-month close
➤ Troubleshooting for tricky entries
➤ Cleaning up reports, transaction errors, and other problem areas within QuickBooks and QuickBooks payroll, addressing issues like uncleared bank transactions, A/R aging summary, inventory, the stock status, inventory valuation reports, A/P aging summary, liability balances, opening balance equity, and YTD P&L
Audits Preparation and Support
QuickBooks Online Diagnostic, Migration, and Training
Since 2016, we have partnered with Intuit Canada for QuickBooks Online and became an Elite Partner.
For business owners seeking assistance with QuickBooks Online setup, migration or a deeper understanding of its modules, we provide consulting sessions.
➤ Advising on improved use of accounting software
➤ Recommending any necessary changes in office procedures to maximize productivity and efficiency
➤ Providing advice for business activities and growth
➤ Recommending and installing apps that integrate with cloud accounting software
➤ Conducting an Accounting System Diagnostic and preparing recommendations for each identified issue, which may include correcting journal entries, suggesting training, changes in QuickBooks lists, company settings, or other features
➤ Initial setup and customization of the accounting system with tailored training sessions to meet the client's needs
Business Start-Up Consultation
We can help you navigate the growing pains of starting a new business by supporting the financial side of your new venture. Our flexible packages are always tailored to your needs.
➤ Assisting with business owner responsibilities
➤ Providing advisory services and identifying needs for your new business
➤ Facilitating business registration for regulatory requirements
➤ Offering a reporting package tailored to your specific needs
➤ Handling account set-up and providing training for smooth financial management
Canadian Tax
Avoid the dread of tax filing by collaborating with professionals who handle your taxes efficiently. Complemented by bookkeeping and advisory, we are well-prepared to guide you through the evolving landscape of taxation.
➤ Verifying personal tax returns (T1)
➤ Validating T2125 State of Business or Professional Activities (For sole proprietors)
➤ Verifying remuneration tax slips (T4)
➤ Validating investment income tax slips (T5)
➤ Estimating Canadian tax liabilities
➤ Assisting with documentation for Canadian investment tax credit claims for Scientific Research and Experimental Development Expenditures (SR&ED)
➤ Verifying corporate tax returns (T2) (For small business with one owner)
(*) For T2 filings involving corporations with multiple owners or multiple corporations owned by a single owner, we will refer you to one of our 18 partner CPA firms.