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Accounting Services

Brief over-view

Accounting:  a hub in which data is transferred in real time from all parts of the company and is translated into relevant information for use by management and third parties; and Tax: T1 personal tax returns and schedules, T2 corporate tax and schedules and HST and tax-In-put reports.

Barons of Business Ltd. provides out-sourced contract services to individuals, small and medium sized companies related to their accounting and bookkeeping needs, which in accordance with a client’s preference can be electronically managed on-line by Barons at the client’s office or the records and accounting may be maintained at the Barons office and the client may access financial information 24/7. Individuals and small companies prefer the latter as it reduces the costs and time allocated to day-to-day accounting / bookkeeping activities which may be better used focused on sales, product development and purchases.

Each client’s accounting records (Chart of Accounts and Reports) are developed and/or designed by Barons to meet the client’s unique needs and to ensure that the appropriate information flows from the accounting records into both mandatory personal, corporate tax returns and schedules which may be E-filed by the client to the Canada Revenue Agency. Detailed HST information and allowable in-put credits is contained within the accounting records and Barons ensures that they meet the client's requirements for filings.

Barons are specialists in customizing business systems and processes to gain better decision-making tools for business owners, by delivering strategic solutions for today’s business.

At Barons of Business Ltd., we are committed to providing superior and reliable services. We achieve this through practical, customer-focused, strategic solutions developed in partnership with our clients to increase their profitability and help them to realize their maximum potential in their unique market. If you need help with your accounting or bookkeeping, but do not require it on a full-time basis, then we can take charge of your accounting / bookkeeping requirements. We offer these services on a weekly, bi-weekly, monthly, or as needed basis.

Some of the key services we provide but are not limited to are:

    • Set-up, translate or restore company files
    • Set up and / or maintain Chart of Accounts
    • Data conversions between software packages
    • Forensic Analysis
    • General Ledger, sub-ledgers Accounts Receivable, Accounts Payable and Inventory maintenance and processing
    • Account reconciliation including bank, credit card, shareholder and inter-company
    • Accounts Payable and Accounts Receivable maintenance and reports
    • Job costing
    • Inventory reconciliation
    • Inventory to-book
    • Assistance with third-party and government audits
    • Year-end preparation
    • Reports specific to your business (cash flow and other management reports)
    • Balance Sheet account continuity
    • Fixed asset management
    • Internal Financial Statement and Schedule preparation and presentation (with accompanying financial statement notes)
    • Budgeting and forecasting
    • Business Plans
    • Internal assistance with tax planning and preparation
    • HST compliance, reconciliation and report filing
    • Source deduction management
    • Business development and strategic planning
    • Fianancial Risk Management
    • General, analytical or specialized business reports for individual departments upon request (see custom reporting)
    • Development and integration of third party solutions