Bookkeeping for every organization, from small businesses to large corporations, can be a very time consuming. Frontline Accounting solutions ltd specializes in providing these services to small and medium sized businesses that would not normally retain a full time accounting clerk.
Our professional accountants follow closely GAAP guidelines to insure the quality and the efficiency of the books. We offer a complete bookkeeping process, from compiling original source documents to final Income statement and balance sheet.
Our wide array of services includes:
Frontline Accounting solutions ltd. consultants can help you plan, grow and structure your business. We are known for our straightforward approach to solving our clients' most complex business challenges. We work hand-in-hand with clients to improve business performance, drive shareholder value and create competitive advantage
Under an agreement between the federal and Québec governments, Revenue Québec is responsible for administering the GST/HST in Québec.
Consequently, we are work with Revenue Québec to receive and process the applications for GST/HST registration of all persons carrying on a commercial activity in Québec.
At Frontline Accounting solutions ltd, we can review the financial statements you submit to us, and suggest the plausibility of your financial position and business operations.
Reviewing Finanacial Statements tends to require significantly less work than audits. A review primarily consists of enquiry, analytical procedures and discussions related to information that you provide. We then assess whether the details you have given are plausible for your business.
A fresh perspective can be beneficial when it comes to your financial situation. Our dedicated team of professionals can review your financial statements in the event that bankers, outside shareholders and others will rely on them to make impactful decisions regarding your business.
We will look over your figures for plausibility in accordance with generally accepted accounting principles (GAAP).
We thrive on bringing things together - numbers, books, and plans for the future. Trust us to pull together your financial results, present them professionally in easily readable formats, and give you the specific information you need to make smart business decisions, fast. We put it together and you reap the rewards of complete and straightforward financial affairs.
Sometimes, all you need is a little organization. At Frontline Accounting solutions ltd, we're happy to help you with your bookkeeping needs. After all, we’re here to make sense of your numbers.
The Quick Method Accounting:
If you use the Quick Method of Accounting as of the first day of your fiscal year, or as of your GST and QST registration date, you may apply a 1% rate reduction to a portion of your taxable supplies (excluding zero-rated supplies). For GST purposes, the 1% reduction applies to the first $30,000 of your taxable supplies (including GST) made during each fiscal year. For QST purposes, the 1% reduction applies to the first $31,421 of your taxable supplies (including QST) made during each fiscal year.
If you file monthly or quarterly returns, the 1% reduction applies to your supplies made during the first reporting period and subsequent reporting periods in the fiscal year, until the fiscal year ends or until the amount of sales reaches $30,000 (including GST), for GST purposes, and $31,421 (including QST), for QST purposes.
If you file an annual return, for GST purposes, the 1% reduction applies to the first $30,000 of supplies (including GST) and, for QST purposes, the first $31,421 of supplies (including QST) made during the fiscal year.
If your total supplies in any fiscal year are under $30,000, for GST purposes, and $31,421, for QST purposes, the unused amount cannot be carried forward.
Example of how to calculate the 1% rate reduction
A dry cleaning business that has elected to use the Quick Method of Accounting is eligible for the 1% rate reduction. After calculating the tax amounts for the first quarter using the 3.6% rate for the GST and the 6.6% rate for the QST, the business operator calculates the 1% rate reduction to determine the final amounts to be remitted to Revenu Québec.
Like many business managers and owners, you may increasingly be turning to your accountant for business consultancy and advice as well as business management. Whatever your needs—financial statement preparation, complex accounting, tax compliance and advice, business planning, wealth management, or raising funds you expect your advisers to be able to add real value to your business. Our real world view means that our advice is practical and appropriate for your business. We’re out there with you, and we’ll deliver what we promise.