Ladysmith: 250-245-1429

Duncan: 250-748-1426

Small & Mid-size Business Accounting

You are a business operator who has decided you like the freedom of the self-employed lifestyle. You work hard for your business and need an accounting firm that supports and assists you in any way they can.

If you are incorporated you will need a financial statement prepared annually and a corporate tax return. This financial statement may have to be provided to your bank to fulfill financing requirements and will likely have to be provided to the tax department to support your corporate tax return filings. At Palmer Leslie we can prepare all the necessary reports to prepare your financial statement and corporate tax returns.

You may need a financial statement as simple as a compilation report which is a compiling of your accounting of the business into a financial statement format. You may need a review engagement which requires us to review your figures and adjust where necessary through the use of analysis, discussion and enquiry. You may need an audit which will require us to test on a sample basis the transactions and balances you have provided us and provide you with assurance as to the accuracy of the final financial statements.

At Palmer Leslie, regardless of the level of financial statement you require, we can provide any of these and can change as your needs change.

If you have not incorporated you will need help preparing and filing a tax return each year to report your business activities. We can assist you with determining firstly, the best way to record your business transactions whether it is to use bookkeeping software, spreadsheets or some form of a manual method. How you record your business transactions is as individual as you are. We can also assist you with summarizing and reporting your business income on a personal tax return each year and ensuring all returns and reports are filed on time and as accurately as possible.

If you enjoy working your business and don’t want the hassle of dealing with the bookkeeping Palmer Leslie can look after all the necessary recording of your day to day transactions for you. We are happy to provide any reports you find useful for your day to day decisions and will work with you to ensure you get accurate, useful, timely reports.

If you like to prepare your own bookkeeping and just need help once in a while we can also provide you with our go-to-assist service which allows us to log onto your computer and work on your computer while you watch and speak to our staff. This is very useful for helping you fix a bookkeeping error and ensuring you understand what the problem is and how to correct it for the future.

You may also need help calculating and reporting your GST and PST collections. At Palmer Leslie we can assist with this.

You may have employees and need help with payroll calculations and reporting both monthly and annual for T4’s. Payroll can be one of the most difficult things to calculate and the tax department charges you substantial penalties where there is an error or a missed deadline. At Palmer Leslie we can ensure your payroll calculations are correct and on time.

If you are planning on expanding or are just starting your business you may need a cash flow and budget of your planned activities to obtain financing for your new venture. At Palmer Leslie we can assist you in preparing these reports for the bank or other institution to accurately support your plans and present them in the best possible light.

When you want to retire or sell your business you will need help with planning for your succession or sale. At Palmer Leslie we can help you plan ahead to ensure you get the most for your business after tax. We can also help you value your business to ensure you get it’s true worth.