How accounting helps in decision making

When hiring our CPA accountant in Langley, you can expect a professional, educated and experienced Chartered Professional Accountant to be “in your corner” when making crucial business decisions. Let’s look at some of the ways accounting professionals help in business decision-making.

Accurate tax returns and financial reports

A CPA accountant’s primary job is to compile financial information and prepare your tax returns, be it a T1, T2 or T3. Hand over the finalized and reconciled bookkeeping to your accountant and let them convert that into a tax return based on laws, regulations, exclusions and other complicated tax code-based decisions. The result is a finalized package of formatted data readable by the CRA and you, the business owner, trust or individual. Now all the stakeholders understand how much profit was made and how much taxes have to be paid to the local tax agency.

Reliable, up-to-date bookkeeping information

Bookkeeping is the ultimate process to know where your business is standing in financial terms. You always have to keep the pulse on your income and expenses, so you know where you are making and losing, of course, the MONEY. Another important use of bookkeeping is to create budgets, an action plan sort of, for the following year. No budgets? Then you have no idea what you can and cannot spend on and where to go for more income. So, if you are dreading the bookkeeping part of running your otherwise super-cool business, then a CPA accounting firm, such as One Loop Accounting, is the best choice to take it over for you. We guarantee accurate and compliant books and returns!

Precise payroll management

Let’s face it: payroll can get complicated, and well, it is probably one of the most important of the financial processes you are running in your business. Your hard-working and fantastic employees must be paid accurately, on time. Are you worried about under- or overpaying the taxes after your employees? Wait, there is more: are you concerned about not paying your payroll remittances on time? And there is even more: do you know how to issue T4s and T4As at the end of the year? There are many questions to ask regarding payroll, and our CPA accountants are highly trained to tackle the task. In fact, we will give you pointers on how to pay them faster, with less hassle to you. Now, who would say no to that?

Represent you at tax authorities (CRA)

Are you in hot water? If the Canada Revenue Agency sent you a letter about a review, do not sweat it! The work for an audit is done before the audit even happens! Knowing that a professional accountant assisted with your books, prepared your tax returns, filed your payroll and issued all the T-slips for your business, what about is there to worry? One Loop Accounting will figuratively hold your hands during an audit and help answer the hard questions with evidence and data to support your business decisions. We make it a breeze (okay, breezier anyways).

Take responsibility for our work

Part of the accountant’s work is to mediate between the wants of the business owner or individual and the needs of the legal tax framework. The juggling act is a true art, and your Chartered Professional Accountant does it elegantly while taking full responsibility for their decisions. We take the tax code very seriously! We live and breathe the tax code! You can be very sure that your accountant knows their job when it comes to giving you the answer to your questions because accountants take responsibility for their words and actions.

Friendly customer service

While most people think that accountants count beans and are robotic, we can be quite the opposite! We understand the stresses of running your business or dealing with the CRA, so you can expect a friendly and knowledgeable team to help you on your journey to prosperity! Besides, we never use beans for counting.

Free initial consultation

As part of our commitment to your success and showing you how accounting helps in decision-making, the first discovery consultation is on us. No charge, free, gratis, your welcome!

Accurate accounting is empowering!

We hope that we thoroughly convinced you that accounting helps in decision-making, knowing which way you should navigate your business and knowing that you are on the good side of the law, your employees and the CRA. Accurate accounting empowers! Can you feel it?