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Bookkeeping. Payroll. Accounting. Tax. We do it all so you don't have to.

+ Bookkeeping

Bookkeeping services are integral to most small businesses. However, the costs of hiring a full-time bookkeeper and buying the latest accounting software can be too expensive. Our clients leverage Li Zhang Accounting's expertise and efficiency to ensure that they are receiving the support of a full-time accountant at a fraction of the cost. With the latest accounting software, Li Zhang Accounting is committed to meeting all of our clients' needs on time and without error. We also provide pick-up and drop-off services if necessary.

Our bookkeeping services include:

  • Recording ordinary purchase receipts and invoices
  • Printing out cheques
  • Recording sales receipts, credit card payments, and PayPal collections
  • Other types of revenues and expenses in specialized industries
  • Bank statement reconciliations
  • Financial statement analysis

+ Payroll

Li Zhang Accounting can offer a tailored payroll solution that suits your business needs. Whether that need is one part-time employee or many employees located in countries around the world, we have the expertise to ensure your employees are paid correctly and on time.

Our payroll services include:

  • Time sheets
  • Processing employee and contractor pay cheques
  • Holiday and vacation pay, overtime pay
  • Remitting source deductions monthly to the government
  • Remitting WSIB to the government
  • T4, T4A, TD1 and ROE forms, T4 summary
  • Reconciliation of WSIB and EHT at year end
  • Reconciliation of CPP, EI and income tax withholds

+ Accounting

Accounting can be so much more than a set of financial statements every month or every year. Accountants can help business owners budget their resources. We can help clients forecast possible cash shortfalls and apply for bank loans. We can help deal with government forms and anticipate regulations which could affect how a business should be run. At Li Zhang Accounting, we consider our clients to be partners. Each of us have unique requirements, but we are all working toward the same goal: a successful and growing business.

Our accounting services include:

  • Journal entries (J/E)
  • General ledger maintenance
  • Accounts payable
  • Accounts receivable
  • Compilation of financial statements (profit and loss, statement of financial position, cash flow statement, and trial balances)
  • Month-end and year-end processing
  • Other accounting needs (Bank Loan Application package, Auditing Trial preparation, dealing with the Government, etc.)

+ Tax

Tax is the one area of accounting that every person in the world must deal with. Unfortunately, tax is also perhaps the most complicated area of accounting. Li Zhang Accounting's tax services include corporate tax returns (T2), personal tax returns (T1), Scientific Research and Experimental Development (SR&ED) Tax Incentive Program forms, and Not-for-Profit tax returns. A standard part of our services include dealing with the Canada Revenue Agency (CRA) on our clients' behalf.

We work with our clients year-round to ensure that they can take advantage of every tax credit and benefit available. Simplifying the tax preparation process for our clients and minimizing the amount of cash taxes they pay is one of Li Zhang Accounting's most important goals. Contact us today to setup an appointment to talk about how Li Zhang Accounting can simplify your tax return experience!