Pro Vision Bookkeeping Key Services

At Pro Vision Bookkeeping, we offer a range of services to help businesses manage their finances effectively. Some of our key services include:

Accounts Payable Management

We help businesses manage their accounts payable by tracking outstanding invoices, paying vendors on time, and reconciling vendor statements. This ensures that businesses avoid late payment fees and continue positive relationships with their vendors.

Accounts Receivable Management

We assist businesses in managing their accounts receivable by creating and sending invoices, monitoring payments, and following up on overdue accounts to ensure timely payment and strong cash flow. Our attention to detail lets you focus on your work while we efficiently handle all your invoicing needs.

Bank Reconciliation

We ensure the accuracy of your financial records by performing bank reconciliation services. We identify and reconcile any discrepancies between your records and bank statements.

Credit Card Reconciliation

We perform credit card reconciliation services to ensure that your financial records match your credit card statements accurately. If we notice any missing receipts, we will inform you and provide a report. If we receive any of the missing receipts later, we will scan and attach them to the appropriate transaction.

Payroll Processing

We offer payroll processing services that include setting up new employees and issuing ROE, calculating employee pay, processing direct deposits and pay cheques, handling payroll taxes & WSIB, and issuing T4s at the end of the year. Our services ensure that your employees are paid accurately and on time while ensuring compliance with all payroll tax regulations.

Shareholder Loan

As a business owner, managing your shareholder loan account is a critical task. We can assist you in this process by carefully tracking all withdrawals and advances, and by attaching necessary supporting documents to each transaction. Additionally, we can review the balances of all posted transactions to ensure accuracy. Proper management of your shareholder loan account can help you avoid various negative consequences that could arise from inaccuracies and errors.

HST/PST/GST Preparation, Filing, and Reconciliation

We provide accurate and timely preparation and filing of HST, PST, and GST. Additionally, we reconcile your tax accounts to ensure that your financial records reflect your tax liabilities.

Year-end Work Papers Preparation

At the end of the year, we will review each of your General Ledger accounts and prepare a comprehensive year-end package for your accountant. We will also communicate with your accountant to ensure that they have all the necessary information. We will post any adjusting entries provided by your accountant and verify that all accounts in the trial balance are accurate. Our goal is to ensure that your year-end work papers are well-prepared and accurate.

The following bookkeeping case study demonstrates problems some business owners could encounter due to improper transaction records management and their consequences, as well as how Pro Vision Bookkeeping can help resolve these issues.

Don’t let bookkeeping issues hold your business back. Let us help you manage your financial records so that you can focus on growing your business with peace of mind. Contact us today to learn how we can help you manage your finances more effectively.