Services

BOOKKEEPING AND ACCOUNTING

With our broad-based experience in maintaining companies' financial records, we tailor our approach to meet the unique needs of any organization, whether small or medium size businesses.

Our Services Include:

  • Deposits and cheque writing
  • Posting accounts payable and the corresponding cheques
  • Posting accounts receivable and deposits
  • Bank reconciliations
  • Depreciation, amortization and year-end entries
  • Financial statements
  • Notices to reader

We also offer the convenience of computer-generated invoices, statements, accounts payable cheques and payroll cheques.

PERSONAL INCOME TAX

Keeping up with changing tax requirements, opportunities and risks can pose a challenge.

Tax planning must keep pace with and can even help shape your operations. Every financial transaction you complete, whether business or personal, has direct or indirect tax consequences.

At QAS, our tax experts will manage and customize solutions to your tax issues, managing the intricate details in local jurisdictions while understanding and strategically planning the flow of transactions.

Save time, work and frustration by having your tax returns prepared by the professionals at Quantum Accounting Services.

TRAINING

Has your company recently computerized or upgraded its accounting systems? Many businesses find it advantageous to hire a consultant to work with your staff to determine organizational and training needs.

Let Us Help

  • Develop a training plan that incorporates training into work schedules,
  • Identify any weaknesses in the system that need strengthening,
  • Train your employees quickly and efficiently to use the software.

BUDGETS

Business budgets allow you to control the financial cash flows in your business instead of allowing your business to control you.

To make a profit, you have to design a system that allows this to happen. By setting up performance standards, you communicate to your employees and to yourself what is expected in order to meet your profit goals.

Once your business is off the ground and develop your budget, nothing is more important than managing your cash. The best way to keep track of your cash is regular preparation of a cash budget.

CASHFLOW

Sound financial management means knowing the cash flow for your business, forecasting your cash needs, planning your borrowing strategy so you have cash when you need it and having financial records that show your payback ability.

Even a business with respectable sales volume can have cash flow problems, and it is often due to poor financial planning.

To assure your business of cash when it needs it, let us prepare a cash flow projection, that is, a forecast of the difference between cash coming into the business and cash going out of the business.

BY KNOWING YOUR CASH POSITION NOW AND IN THE FUTURE, YOU CAN:

  • Make certain you have enough cash to purchase sufficient inventory for seasonal cycles
  • Take advantage of discounts and special purchases
  • Properly plan equipment purchases for replacement or expansion
  • Prepare for adequate future financing and determine the type of financing your need
  • Show lenders your ability to plan and repay financing

ACCOUNTING SYSTEM DESIGN

If you are starting a new company or overhauling your existing accounting systems, you should ask questions about your organizational capacity, existing systems, human resources, physical space, financial resources and information needs. Too often, updating an accounting system is limited to simply selecting the software without considering the factors that will determine its success or failure in meeting organizational needs.

QAS CAN HELP

Our experience with a variety of accounting packages gives us to expertise to recommend and install the software that best suits your business needs. We will also train your staff to use the software that best suits your company’s specific needs.

If you choose not to complete the work in-house, Quantum Accounting Services offers a complete range of bookkeeping services.

FINANCIAL STATEMENTS AND FORECASTING

Preparing financial statements on a regular basis is essential to the fiscal health of your company.

Once you know your current financial situation and have defined your vision by setting growth objectives and producing a business plan, you can start projecting your financial needs.

Usually prepared monthly, financial statements provide you with a picture of your company’s assets and liabilities, and clearly show your year-to-date revenues and expenses.

TWO TYPES OF PROJECTED FINANCIAL STATEMENTS ARE USUALLY PREPARED TO GIVE YOU A CLEAR UNDERSTANDING OF WHERE YOUR BUSINESS IS HEADING:

1. ANNUAL PROJECTIONS FOR A PERIOD RANGING FROM ONE TO FIVE YEARS

These detailed annual projections are predictions about your future cash flow and are based on your financial statements.

2. A DETAILED MONTHLY CASH BUDGET FOR THE FIRST YEAR

The monthly cash budget identifies your cash balances for each month during the operating year. This information will help you decide how much money to keep in the bank for month-to-month expenses and help in negotiating a line of credit.

HERE IS AN OVERVIEW OF THE PROCESS:

  • Review your past operating resultsAnalyze expected future market conditions for your products or services
  • Estimate your future sales volume, price and revenue for each product
  • Estimate future costs based on forecast sales volume and expected cost relationships
  • Deduct income taxes
  • Make accounting adjustments, such as depreciation and amortization
  • Deduct what you expect you will spend on fixed assets, working capital and financing
  • Include the proposed investments in the forecast

YOUR BUSINESS PERFORMANCE CAN ONLY BE IMPROVED BY USING CAREFULLY PREPARED FINANCIAL STATEMENTS.