We offer a full range of accounting and bookkeeping services that can be tailored to your unique needs.
Our full cycle accounting and bookkeeping services are powered by industry leader, Intuit. Accordingly, we use Intuits QuickBooks Desktop software and QuickBooks Online software exclusively.
In particular, some services we provide are:
- Full Cycle Accounting and Bookkeeping – Desktop and Cloud based
- Cloud Accounting
- Accounts Receivable
- Accounts Payable
- Cash Receipts
- Bank and Credit Card Reconciliations
- Payroll Services
- Government Remittances – Payroll, GST/HST, WSIB, EHT
- Record of Employment (ROE) Reporting
- Balance Sheet and Income Statements/Financial Statements
- CRA representation on your behalf
- T4’s and T4 Summary preparation and reconciliation
- T5 and T5 Summary preparation
- T5018 Statement of Contractor Payments
- Small Business Consulting for Start Up and/or Expansion
- Accounting Software Solutions. Installation and customized set-up for new or existing businesses. System conversions and training (see below for more information)
- Personal Income Tax Returns and Tax Planning
- Sole Proprietor Income Tax Returns and Tax Planning
- Corporate Income Tax Returns and Tax Planning
Intuit is an industry leader in desktop and cloud accounting software. Intuit predicts that 78% of small businesses will rely on cloud technology by 2020.
So what is the Cloud all about?
In the simplest terms, cloud computing means storing and accessing data and programs over the Internet instead of your computer's hard drive.
Most noteworthy, the cloud is just a metaphor for the Internet.
In this case, it goes back to the days of flowcharts and presentations. At that time, the gigantic server-farm infrastructure of the Internet was represented as nothing but a puffy, white cumulus cloud, accepting connections and doling out information as it floats.
Of note, the cloud has disrupted and transformed many industries over the past several years. In fact, the cloud allows businesses to operate more efficiently, cut costs, and amplify results.
Consequently, although benefits will vary between solutions, on a general level, some of the benefits of cloud accounting applications include the following:
- The ability to automate many manual accounting and bookkeeping processes.
- The ability for data to be accessed regardless of location or device.
- The ability for data to be updated in real-time.
- The ability to easily scale to meet growing business needs.
- The ability to facilitate a paperless environment.
- The ability to provide automatic updates.
- The ability to reduce costs.
- The ability to integrate with other cloud solutions.
Additionally, we provide a full suite of small business, corporate and personal tax services. We regularly work with a variety of businesses, including corporations, sole proprietors and new business startups.
Most importantly, White Lotus Accounting Services understands that a business just wants to take care of exactly that – business – leaving us to handle all of your tax needs.
We also work with families to strategically plan and optimize tax credits and deductions for each individual and the family unit.
Above all, at White Lotus Accounting Services, you will get personal attention that starts by understanding you, your business and the personal tax needs for you and your family.
As a result, with that understanding, we then tailor our strategic know-how to your income tax return.
Tax Services include:
- T2 Corporate Income Tax Returns
- T1 Income Tax Returns for Sole Proprietors
- T1 Personal Tax Returns for individuals and families
- Prior year's tax return filings
- Refile Tax Returns for T1 Adjustments
There’s much more to optimizing the tax return for you and your business than plugging numbers into a tax program.
Coupled with 35+ years' experience specializing in accounting and taxation, White Lotus Accounting Services is exclusively aligned with small businesses.
Therefore, we know how to use the various options available to businesses and their owners to optimize your tax returns.
We have the experience and expertise to handle your Income Tax situation.
- Challenging tax situations?
- Need to catch up and file previous year's tax returns?
- Getting letters or calls from CRA?
- Does the thought of calling CRA back make you feel ill?
We'll also handle this for you. Additionally, if your tax situation requires it, we'll negotiate a payment plan with the CRA on your behalf.
We provide Desktop and Cloud based Accounting Software Solutions for new and existing businesses. This includes new accounting system set-up, accounting system conversions and training, all customized for your specific needs.
- Installation of Accounting Software. Set up and design of Accounting System Modules including Chart of Accounts, Accounts Receivable, Accounts Payable, Payroll, Banking and Credit Cards; all customized to your business and unique needs
- Conversion from old record keeping to new Accounting Software System
- Training on Accounting Software
Ready to Start?
If you're ready to get started today, simply click the 'Contact Us' button on the right and send us an email. We look forward to working with you!