FREQUENTLY ASKED QUESTIONS

4-A conducts regular presentations on these topics. Please contact us if you’re interested.

Why is Financial Reporting Important?


  • Analyzing on a monthly or quarterly basis (NOT ANNUALLY)
  • Understanding the current financial position not just historically
  • Collection of accounts receivable and Cash flow
  • Knowing your margins and clients
  • Banking covenants and reporting requirements
  • BUDGETING and PROFITABILTY





INCORPORATION

Why is Financial Reporting Important?


  • Analyzing on a monthly or quarterly basis (NOT ANNUALLY)
  • Understanding the current financial position not just historically
  • Collection of accounts receivable and Cash flow
  • Knowing your margins and clients
  • Banking covenants and reporting requirements
  • BUDGETING and PROFITABILTY





FINANCIAL GROWTH

Why do I need Corporate Bookkeeping?


As a separate entity your Corporation will need the following:

  • Monthly bank account reconciliations
  • Monthly credit card account reconciliations
  • A record of Personal expenses vs. Corporate expenses




How do I keep Track of my Books?


As a business owner you have a variety of ways to track your books. You can choose to do it yourself or hire a professional Bookkeeper. This depends on your time and your budget. It is highly recommended that you enlist the services of a professional bookkeeper however if you choose to do it on your own we recommend using recognized software programs to help you such as:

  • Simply Accounting
  • Quickbooks
  • Excel Spreadsheet Synoptic




What Items Need to be Recorded or Monitored?


  • Accounts Receivables (remember to Invoice regularly)
  • Record Expenses
  • Accounts Payable (Note: Capital Assets are not a direct expense when purchased)
  • Monitor cash flow and profitability monthly and by project
  • Always be ready to make the hard decisions on customers/product lines.




What do I need for Year-end Preparation?


  • Provide what the accountant needs to reduce time and billing
  • Demonstration of year-end binder





CORPORATE BOOKKEEPING

Why is Financial Reporting Important?


  • Analyzing on a monthly or quarterly basis (NOT ANNUALLY)
  • Understanding the current financial position not just historically
  • Collection of accounts receivable and Cash flow
  • Knowing your margins and clients
  • Banking covenants and reporting requirements
  • BUDGETING and PROFITABILTY





TAX PLANNING & SUCCESSION PLANNING

Why is Financial Reporting Important?


  • Analyzing on a monthly or quarterly basis (NOT ANNUALLY)
  • Understanding the current financial position not just historically
  • Collection of accounts receivable and Cash flow
  • Knowing your margins and clients
  • Banking covenants and reporting requirements
  • BUDGETING and PROFITABILTY





FINANCIAL MONITORING & REPORTING

What Information do I need to provide 4-A for my Personal Taxes?


Click here for a handy checklist to help you assemble your financial information for preparation of your income tax return. Keep this checklist handy. The checklist should be completed and returned to 4-A together with the financial information assembled.

Handy Checklist for Personal Taxes





PERSONAL TAXES

4-A PROFESSIONAL SERVICES

Our team caters to businesses and corporations in and around Calgary as well as across Canada who wish to increase their profits and government compliance. We have experience in managing large and small businesses – increasing profitability and compliance all the while creating the opportunity for owners to focus on their areas of expertise.

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