Tie each important balance to a schedule
The package can include bank and card reconciliations, customer and supplier balances, inventory information, fixed-asset purchases, loan statements, payroll totals and sales-tax reconciliations. Owner transactions need their own explanation; an unexplained transfer should not become an expense by default.
For a property operation or multi-location group, we separate legal entities and retain the basis for shared expenses. Deposits, prepayments, accrued bills and outstanding processor funds are reviewed around the year-end cut-off so the period does not depend solely on payment dates.
Coordinate adjustments and filing responsibilities
We record questions for the accountant and agree how final adjustments return to the live books. Corporate income-tax returns, registry annual returns and payroll or sales-tax filings are different tasks. Their dates and responsible people belong on the handover list, even where another professional completes them.
Illustrative example: equipment bought on financing
A Toronto restaurant installs kitchen equipment before year-end and begins loan payments later. The financing agreement, purchase invoice and delivery date explain the asset and debt. Posting only later bank payments would miss the opening obligation and blur principal, interest and purchase cost.
Include the 2026 Ontario rate change in the handoff
For an eligible Toronto corporation, Ontario’s lower corporate income-tax rate changed from 3.2% to 2.2% on July 1, 2026. The accountant must confirm qualifying income, the available business limit and treatment of a tax year crossing that date. Keep the fiscal year and entity-level schedules visible; the rate is not a percentage to apply to every location’s sales.
Questions about this work
Do you prepare the corporate tax return?
This service prepares bookkeeping records. Tax-return preparation and submission must be explicitly arranged with the responsible tax professional.
What if the accountant changes the year-end balances?
We agree how approved adjustments are posted back into the operating file and preserve the adjustment record so next year starts from the same balances.
Put this into practice
Sources and current guidance
A practical next step
Bring the records you have.
We can identify missing information, agree on the scope and organize the next bookkeeping step.
Request a bookkeeping review