All businesses need effective and efficient accounting functions to provide stakeholders access to timely and useful financial information. Whether these functions are needed for statutory compliance purposes, bank reporting, harmonized sales tax record keeping and submission, income tax preparation, or internal performance evaluation, appropriate accounting reporting systems are key.

One of the most crucial tasks of running a small business is maintaining your accounting records. Accurate and timely accounting helps you keep track of your income and expenses and provides a clear picture of your financial standing. At Alt Caret, we offer complete business accounting services for small businesses and enterprises to ensure informed financial and investment decision-making. Our team of dedicated accounting professionals will organize and meet your accounting and compliance needs so that you can leverage every growth opportunity and scale up your business operation.

Our accountants, have experience catering to the needs of a wide range of industries and have strong business acumen to understand your business needs and provide you with effective and efficient accounting solutions. We offer Accounting Services for Small Businesses in various packages based on size and number of transactions and are dedicated to assisting you in managing your financial records and ensuring compliance with accounting regulations.

Our Small Business Accounting Services Include:

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Our Comprehensive Accounting Services


Recording financial transactions such as sales, purchases, receipts, and payments. Maintaining accurate and up-to-date financial records using accounting software or spreadsheets. Reconciling bank statements and accounts receivable/payable ledgers.

Financial Statements

Generating monthly, quarterly, and annual financial statements, including income statements, balance sheets, and cash flow statements. Analyzing financial statements to assess business performance, profitability, and cash flow.

Tax Preparation

Prepare and file annual tax returns, including income tax, sales tax, payroll tax, and other applicable taxes. Ensure compliance with tax regulations and deadlines, including deductions, credits, and tax planning strategies.

Payroll Processing

Calculate employee wages, salaries, and deductions. Issue pay to employees on a scheduled timeline. Withhold and remit payroll taxes to government agencies. File payroll tax returns and provide employees with year-end tax forms (e.g., T4/T4A).

Accounts Receivable/Accounts Payable

Invoice customers for products or services rendered. Track and follow up on outstanding customer payments. Process vendor invoices and manage payments to suppliers and creditors.

Budgeting and Forecasting

Create annual budgets and financial forecasts based on historical data and projected business performance. Monitor actual financial results against budgeted figures and adjust forecasts as needed.

Financial Analysis and Reporting

Analyze key financial metrics and ratios to evaluate business performance and identify areas for improvement. Provide regular financial reports and insights to business owners to support decision-making.

Cash Flow Management

Monitor cash flow to ensure sufficient liquidity for ongoing operations and financial obligations. Implement cash flow forecasting and management strategies to optimize cash flow and minimize risks.

Financial Advisory Services

Provide strategic financial advice and guidance to support business growth and expansion. Make recommendations on investment opportunities, financing options, and risk management strategies.

Compliance and Regulatory Support

Ensure compliance with accounting standards, regulatory requirements, and industry-specific regulations. Assist with business registration, licensing, and other legal and regulatory obligations.

Software Setup and Training

Set up accounting, and other, software systems tailored to the business's needs and preferences. Provide training and support to business owners and employees on how to use accounting software effectively.

Year-End Closing and Reporting

Close out financial records at the end of the fiscal year and preparing year-end financial statements. Assist with the preparation of annual reports for stakeholders, investors, and regulatory agencies.

Keep all the money that is yours.

These key services may be just what you need from a professional accountant.


Our Accounting Services for Businesses encompass compilation engagements, also known as Notice to Reader engagements. Our Professional Accountants will assist in preparing financial statements based on the information provided by your business. This service ensures that your financial records are accurately compiled and organized, providing stakeholders with a clear overview of your company's financial position.


As part of our comprehensive Business Accounting Services, we offer year-end closing services. Our Professional Accountants will guide you through the process of closing your financial books at the end of the fiscal year. This includes reconciling accounts, adjusting entries, and preparing financial statements. With our expertise, you can ensure a smooth and accurate year-end closing process.


Our team of Professional Accountants specializes in financial statement preparation. We understand the importance of presenting accurate and reliable financial information to stakeholders. Through our Business Accounting Services, we will prepare comprehensive financial statements that comply with accounting standards, providing a clear picture of your company's financial performance.


We offer customized monthly or quarterly financial reporting packages as part of our Accounting Services for Businesses. Our Professional Accountants in will analyze your financial data and prepare detailed reports tailored to your specific reporting needs. These reports will provide valuable insights into your company's financial health, allowing you to make informed business decisions.


When facing external audits, our team of Professional Accountants can provide valuable accounting support and coordination. We will collaborate with auditors, ensuring that all necessary financial documents and information are prepared and organized. Our expertise in audit procedures and accounting standards will help streamline the audit process and ensure compliance with regulatory requirements.

1. Canadian Generally Accepted Accounting Principles (GAAP):
Canadian GAAP consists of the accounting principles, standards, and procedures used to prepare financial statements for Canadian businesses. These principles are established by the Accounting Standards Board (AcSB) and are based on international standards while considering the unique needs of Canadian entities.
2. International Financial Reporting Standards (IFRS):
IFRS is widely adopted in Canada for financial reporting by publicly accountable enterprises and is set by the International Accounting Standards Board (IASB). The Accounting Standards for Private Enterprises (ASPE) is a set of accounting principles based on IFRS but simplified for private companies not required to use full IFRS.
3. Quality Assurance Standards (QAS):
The Chartered Professional Accountants of Canada (CPA Canada) has established Quality Assurance Standards to ensure the quality of accounting and assurance services provided by CPAs. These standards require firms to establish quality control policies and procedures to maintain compliance with professional standards and regulations.
4. Independence and Objectivity
CPAs in Canada are required to adhere to strict independence and objectivity standards to maintain integrity and impartiality in their work. Independence requirements are set by professional bodies such as CPA Canada and regulatory bodies like the Canadian Public Accountability Board (CPAB).
5. Continuing Professional Development (CPD)
CPAs are required to engage in ongoing professional development to maintain and enhance their knowledge, skills, and competencies. CPA Canada sets CPD requirements for members, including minimum hours of professional development activities annually.
6. Ethical Codes of Conduct
CPAs are bound by ethical codes of conduct established by professional accounting bodies, such as CPA Canada and provincial regulatory bodies. These codes outline ethical principles and professional responsibilities that CPAs must uphold, including integrity, objectivity, confidentiality, and professional competence.
7. Regulatory Compliance
Accounting services in Canada must comply with regulatory requirements set by government agencies, such as the Canada Revenue Agency (CRA) and provincial regulatory bodies. Regulatory compliance ensures that financial statements and tax returns meet statutory requirements and are filed accurately and on time.
8. Client Confidentiality
CPAs are required to maintain strict confidentiality regarding client information and sensitive financial data. Client confidentiality is essential to protect the privacy and interests of clients and to maintain trust and confidence in the accounting profession.
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Quality Standards

In Canada, accounting services are guided by a combination of international standards and regulatory requirements.


By utilizing our Business Accounting Services, you can benefit from the expertise of our Professional Accountants. They possess the knowledge and skills necessary to deliver accurate and reliable accounting services, tailored to meet the specific needs of your business. With their assistance, you can effectively manage your financial records, enhance decision-making, and achieve your business goals.