Accounting Services in Ottawa
Updated on Tuesday 14th September 2021
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If you are planning to open a company in Canada, then you will most likely need to hire a team, or at least a person, who can handle the company’s accounting procedures. In Canada, regardless of where you open your business, be it in Ottawa or Toronto or another Canadian region, you will need to complete the same accounting documents and procedures.
Thus, if you are currently in Ottawa and if you have simply relocated here, or want to start your own business, you can rely on our accounting services in Ottawa. Besides company formation services, our consultants in company registration in Canada are also certified to offer services for accounting in Ottawa. Our team is specialized in helping corporate structures, but we can also advise and represent natural persons.
What are the main services for accounting in Ottawa?
If you address to us and you represent a company that already operates in Ottawa or you want to open a new business, our accounting services are created to fit the needs of all companies. Please mind that, depending on the company’s legal entity, the accounting in Ottawa may differ (there are different procedures for sole traders compared to the ones applicable to limited companies, for instance).
But, regardless of your company structure, the services for accounting in Ottawa will generally cover the below mentioned, which are part of the general accounting procedures imposed to businesses, to a certain degree. Our team of specialists in company registration in Canada can help you with the following:
- basic accounting services – preparing the tax files and maintaining daily accounting documents;
- file income tax returns – the income tax is payable by the end of the financial year and the tax base can differ based on the nature of the tax entity, the tax deductions applied for certain categories of companies and others;
- accounting in Ottawa also deals with any payroll matters;
- bookkeeping services – all companies in Ottawa need to maintain their books of accounts and the procedures will vary based on the type and size of the company;
- paying the goods and services tax (which is an equivalent of VAT) – with our team, you can be sure of the fact that the amount due is calculated correctly, so that you can submit the necessary documents without any additional procedures.
Another important part of our services for accounting in Ottawa is to represent companies in the relation with the Canada Revenue Agency (CRA), the main institution that regulates and enforces procedures regarding the taxation of individuals and corporate entities.
What is the data on accountants in Canada?
Persons who provide services for accounting in Ottawa will always have the necessary certifications in the field. Our consultants in company registration in Canada can provide such services only due to the fact that they have completed certified classes in accounting. Below, you can find few characteristics of this profession in Ontario, a region to which Ottawa belongs from an administrative point of view:
- persons working as accountants and financial auditors are included in the National Occupational Classification NOC 1111;
- the accounting and auditing sector in Ontario is comprised of 83,800 persons;
- persons working under the North American Industry Classification System (NAICS), under the code of 5412, account for 36% of all the specialists and they refer to persons specialized in accounting, bookkeeping, payroll services and tax preparation;
- a part of such specialists work in banks, central banks and securities, and they represent 9% of all specialists (their activity is regulated by the NAICS 521, 522 and 523);
- persons working in public administration as auditors and accountants represent 8% of all specialists.
What are the services on accounting in Ottawa for individuals?
Accounting services are also created for individuals who are liable to taxation in Ottawa, provided that they obtain a taxable income in Ottawa. Thus, if you are not interested to open a company in Canada, but simply reside here and become an employee or obtain an income from another type of taxable activity, you may also need accounting services.
You can require the services of our team in the case in which you obtain an income from renting a property in Ottawa; if you develop an investment activity not related to having your own company, you will also need tax advice and accounting services. There are, of course, multiple situations where individuals may need accounting services and for more details, we invite you to address to our team of consultants in company registration in Canada.