Bookkeeping can be costly, time consuming, frustrating, and it can keep you away from the most important parts of your business and reduce your profitability. That’s where we come in…
From Start-up to the Hiring of an Office Manager – we’re with you all the way. We’re entrepreneurs, like you, and we know the challenges you face in dealing with the administrative side of your business. And, like you, we are highly skilled in our industry – BOOKKEEPING.
We are EDUCATED, CERTIFIED, and COMMITTED
We provide the typical day to day bookkeeping services ranging from data entry to monthly financial statements. We can handle your payroll whether it’s hourly, salary, commissions, or more. We can let you know when the subcontractor you’re paying, might be seen as an employee in the eyes of Revenue Canada and Alberta Employment Standards, (and avoid the nasty penalties for getting it wrong).
We can keep track of your receivables, payables, complete your GST returns, handle T4’s, T4A’s, T5018, and prepare the Year End Working Papers for your accountant. We can do budgeting, business planning, and provide detailed reports on different aspects of your business.
We can provide training and support for the Do-It-Yourselfers, oversee your receptionist as they handle the day to day transactions, or take care of everything ourselves, while allowing you full access to view financial statements and other reports anytime you want.
We can provide personal and team coaching services from our board certified practitioner. Whether it’s NLP, TLT, or the LSI systems offered through Human Synergistics, we have the tools and training to help you and your team overcome the personal and mental challenges that may slow your business down.
We’re ENTREPRENEURS WORKING FOR ENTREPRENEURS – THAT’S US! With a focus on:
We are a team of Exceptional, Highly Skilled, Independent, Self-employed, Bookkeepers, coming together as one to provide top quality Bookkeeping to Edmonton businesses and beyond. We provide bookkeeping in Sherwood Park, St Albert, Spruce Grove, and more. Our clients are in multiple provinces and overseas. From Vancouver to Toronto, Calgary to Ft McMurray, Australia to the United Arab Emirates, our clients can access us from near and far.
We’re a diverse group of dynamic bookkeepers ranging from University educated to Street Smart and Independently Educated (we love to read technical rules and regulations). In an industry where there is no government regulated certification, we take the initiative to learn. We have skills. We have diversity, and from board rooms to living rooms, from camp sites to work sites, we’re there for you.
Call us now! Ph. 780 – 966 – 9675
Did you know the cost to have your bookkeeping completed by accountants in Edmonton can be significantly higher than having it completed by someone who specializes in bookkeeping? Accountants and accounting firms in Edmonton, and throughout Alberta are legislated by the Regulated Accounting Profession Act of the Province of Alberta. They have higher fees and tend to focus on taxation and advising services. Bookkeeping, however, is an unregulated industry. This is why we do not do taxes, referring this to accountants who are trained and regulated to provide a final review of the work of the bookkeeper. If we do a great job, there are only a few adjustments your accountant has to make and thus their fee should be lower.
Highly skilled and exceptional bookkeepers in Edmonton, and other areas, can be difficult to find.
Exceptional bookkeepers in Edmonton will know that, while most meal and entertainment expenses are only 50% tax deductible, there are at least two instances where they are 100% tax deductible. Or that, due to a case which went through the Tax Court of Canada, bicycle couriers and certain others can now claim a flat rate of $17.50 per meal due to the extra calories they burn in their business. We also know the rules and regulations for claiming meal expenses that are included in the fee for a convention.
Highly skilled bookkeepers in Edmonton, and elsewhere, also know that it might be more profitable to claim the reasonable mileage allowance of .61¢ for the first 5000 km and .55¢ after that, rather than tracking all your expenses including gas receipts, oil changes, car washes, repairs, insurance, CCA, etc. and claiming the percentage regulated by the government. If done properly, this mileage allowance is tax free in the recipient’s hands, and tax deductible to the business.
Our team of Exceptional, Highly Skilled, Edmonton bookkeepers, and beyond, also know that if you pay a flat fee to an employee for the use of their vehicle, this amount needs to be reported on their T4, whereas, the mileage allowance mentioned above – does not. In many cases, this applies to parking, as well as providing a company owed vehicle for an individual to use if personal use is included. Get the details before you think of transferring a personal vehicle into the business. Don’t get caught unaware.
Highly Skilled, Exceptional bookkeepers in Edmonton, and beyond… will know that just because an employee has the title of “Manager” doesn’t mean he qualifies as a manager in the eyes of Revenue Canada and Alberta Employment Standards – overtime might have to be paid – if you or your bookkeeper don’t know the rules.
We also know that Boxing Day is NOT a Statutory holiday for most businesses in Alberta. And that overtime hours can be banked and taken off at a later date at regular pay if a written agreement is in place.
We have a darn good understanding of the difference between an employee and a subcontractor. And we know the potential cost if Revenue Canada or Alberta Employment Standards determines that the individual you have been paying as a Subcontractor – is actually an employee! We also know, that if you have had to pay these unforeseen costs, you might be able to recapture some of it from the employee (who thought he was a subcontractor).
When it comes to GST/HST, many business owners know that once you reach $30,000 in gross sales within a single calendar quarter (eg. on Nov 15 you make a sale that pushes your total gross sales beyond $30,000), you have to register for and start charging GST. A great bookkeeper might also suggest you look at the benefits and drawbacks of registering your business early.
For instance, if you are looking to rent office or retail space, and need to make significant changes before you open for business, it might be worthwhile to register for the GST/HST, and claim back the GST you paid out. For instance, if your renovation costs total $100,000 and you paid GST/HST of $5,000, you might apply for a GST/HST refund of the whole amount. If you were not registered for GST/HST, and instead – you claimed the GST/HST as part of your business expenses with corporate taxes at 20% – you would only save yourself $1,000 ($5,000 x 20%)
Other interesting rules around GST/HST include the “place of supply” rule, which generally states that GST/HST is charged based on where the supply is made. For instance, if you are an internet based company in Alberta, whose clients access your services from their home in Ontario, you might have to charge the Ontario GST/HST rate of 13%. Or, if you are a taxi drivers who owns your own business (including leasing a car) you have to register for GST/HST on your first sale.
Bookkeeping is FUN!!! At least for us! ☺ We love paperwork whether it’s on our desk or in the clouds. Find out how we can… take the work out of paperwork… for YOU! Call us at 780 – 966 – 9675
Data Entry to Reconciling
Receivables to Payables
Job Costing to Budgeting
Cash Flow to Financial Reports
Wages, Salaries, Commissions, etc
ROE’s, T4’s, T4A’s, T5018, WCB
Provides important information to grow and manage your business.
Revenue Canada requires a reporting of your income for tax purposes.
Great for tax planning and business growth.
We love bookkeeping.
We love continuously learning more.
We love taking a mess of paperwork and turning it into a financial work of art.
We love helping you grow your business.
Because your business matters NOW! Having the information YOU need to manage your business is important to achieving your goals. Do you review your finances to ensure you maximize income, and minimize taxes, for your business and personal income?
Maybe you’re eager to get started but don’t know where to begin or have questions but you don’t know where to find the answers. Questions like, should you pay yourself as an employee on a T4? If so, how much? Have you maximized your allowable office-in-home expenses or vehicle costs? Do you know which other taxable deductions you might qualify for? Bernal Business Services can answer all of those questions and more. Teaming up with BBS to plan ahead will help you reduce your taxes and improve your cash flow in the future. Check out our easy-to-use estimator.
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