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PERSONAL INCOME TAX

Déclaration simple individuelle……………………………………….à partir de *35,95$

Famille monoparentale………………………………………………….à partir de 59,95$

Couple sans enfants……………………………………………………à partir de 79,95$

Couple avec enfants……………………………………………………à partir de109,95$

​Travailleur(se) autonome………………………………………..ajouter 30,00$ minimum

Salarié(es) avec dépenses d’emploi……………………………..ajouter 30,00$ minimum

Immeuble à revenus………………………………………………ajouter 25,00$ minimum

Étudiant(es)………………………………………………………………..spécial 

BUSINESS

Bookeeping and Accounting

WHAT IS THE DIFFERENCE BETWEEN BOOKKEEPING AND ACCOUNTING?

WHAT IS THE DIFFERENCE BETWEEN BOOKKEEPING AND ACCOUNTING?

To understand pricing, it’s helpful to know the difference between bookkeeping and accounting.  These two terms are often used interchangeably, but there is a significant difference between bookkeeping and accounting services.

Bookkeeping
We have written in detail about what a bookkeeper does in Canada, but the very basic function of a bookkeeper is to record the transactions of a business in a consistent way.  This includes:

  • Recording financial transactions and reconciling accounts at the end of each month or week
  • Recording and paying bills on their due date
  • Creating and issuing invoices
  • Processing and recording payroll
  • Tracking sales taxes (GST / HST / PST etc.), and filing returns

The bookkeeper is in charge of making sure that all transactions are recorded accurately.  The complexity of this job depends on the size of the business, number of transactions to be recorded, and the nature of those transactions.

Accounting
Accounting can be described as processes that use the information recorded by the bookkeeper to produce higher-level information and reports.  Examples of these services include:

  • Preparing adjusting entries to record information such as inventory adjustments, tax estimates, and other accruals (expenses that have occurred but aren’t yet recorded by the bookkeeper)
  • Preparing and analyzing financial statements to help the business owner make decisions
  • Completing income tax returns
  • Tax planning
  • Business advisory

Accountants aim to provide business owners with an understanding of their financial reporting to drive intelligent, informed decision making.  They also play a key role in reducing taxes where possible. At Avalon, we also add empathy and even emotional support to the role of an accountant; it can be a lonely road running a business, and we want to help entrepreneurs thrive however we can.

TRADITIONAL COSTS OF BOOKKEEPING AND ACCOUNTING (BILLED HOURLY)

The traditional and most common method of charging for bookkeeping and accounting services is using an hourly rate.  The bookkeeper or accountant will track the time they spend on your business in increments of 0.1 hours, add up the time spent and then apply their hourly charge-out rate. BOOM, there’s your bill!  This means that you are on the clock anytime your bookkeeper or accountant answers your phone call, responds to your email or works on your file in any way.

At current market rates, you’ll find a range of hourly rates:

  • Bookkeepers charge between $25/hr and $80/hr
  • Accounting work completed by a CPA, you’ll find a range of $150/hr to $450/hr

This means that the bill for services provided will vary depending on how long it took your bookkeeper or accountant to complete those services.  Based on current market rates, you’re likely to see the total cost for services fall within the following ranges:

Bookkeeping

  • Startup Business – $100 to $300 per month
  • Small Business – $300 to $600 per month
  • Medium Business – $600 to $2,000 per month
  • Large Business – $2,000+ per month

Accounting

  • Compilation engagement and corporate tax return $1,800 – $4,000
  • Review engagement and corporate tax return $3,000 – $8,000
  • Audit engagement and corporate tax return $4,000+

OUR FEES

Please contact us at info@montreal-accounting.com or 1-855-258-8889 #205

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