Services

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filler@godaddy.com

Account

bookkeeping. financial statements. tax returns. -serving dental practices-

monthly bookkeeping service. includes the following

One-time

For new users of QuickBooks, install and setup QuickBooks.
For existing users of QuickBooks, review and update your QuickBooks based on your reporting needs.
Discuss, review, and recommend changes to your chart of accounts and financial statement presentation.

Monthly

Check that deposits on your daily bank deposit reports from your dental software are in your bank transactions;
Check that deposits on your insurer pay statements are recorded in your bank deposit reports and bank transactions;
Record bank transactions (chequing, savings, credit card, and loan accounts) from bank statements and deposit records as provided;
Reconcile bank statements (chequing, savings, credit card, and loan accounts);
Record dental revenues from dental software as provided;
Reconcile revenues from dental software to QuickBooks;
Post other transactions from information provided by you;
Analyze accounts in your general ledger for accuracy and completeness;
Prepare and review your financial statements from QuickBooks;
Provide you with monthly financial statements (balance sheet, income statement, statement of cashflows) from QuickBooks;
Provide you with a list of manual journal entries;
Maintain the general ledger.

Annually

Work directly with your tax accountant to give them the information they need to file your tax returns.
Review and record any adjusting entries proposed by your tax accountant.
Review your financial statements with you to help you understand what they mean, and how it can be tailored to help you in your decisions for your practice.
Discuss, review, and recommend process changes to enhance efficiency of month-end financial reporting.

add-on services. available to bookkeeping clients only

Financial Statements - Compilation Engagement

These financial statements differ from the financial statements provided to you as part of the monthly bookkeeping service. These are a formal set of financial statements which include a signed compilation engagement report. There is no assurance provided, meaning procedures are not performed to verify the accuracy or completeness of the information. These statements are required to comply with standards issued by the Auditing and Assurance Standards Board.

These formal statements are not required to file your income tax returns. They may be required by your bank, investors, or potential buyers.

Income Tax Returns

Preparation and filing of your dental practice related income tax returns, including Canadian corporate and personal returns. Service includes simple tax planning to help you minimize your tax obligations while staying in compliance with Canadian tax rules. For more complex tax planning requirements, I can connect you with a trusted tax professional who specializes in owner-manager tax planning, and succession and estate planning. I will work alongside this person at tax time to minimize disruptions to you.

Payroll Set Up

While I don't offer services to run your payroll, if you are in need of a payroll service, Quickbooks offers a payroll module. We can discuss if it's a good fit for you and I can help set up the module and walk you through how it works. You can then run your own payroll each month.