Bookkeeping and Payroll
At LFG Partners, we understand that accurate bookkeeping and efficient payroll management are crucial for the smooth operation of small and medium-sized businesses. Our comprehensive bookkeeping and payroll services are designed to alleviate the burden of financial administration, allowing you to focus on growing your business.
Our team of experienced bookkeepers ensures that your financial records are maintained accurately and up to date. We handle day-to-day financial transactions, including recording sales, purchases, receipts, and payments.
Our services include:
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General Ledger Maintenance: We organize and maintain your general ledger, tracking income, expenses, assets, and liabilities to provide you with a clear snapshot of your financial position.
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Bank Reconciliation: We reconcile your bank accounts regularly, ensuring that your recorded transactions match the bank statements, identifying any discrepancies promptly.
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Accounts Payable and Receivable Management: We manage your accounts payable by tracking and processing vendor payments, while also overseeing accounts receivable to ensure timely customer invoicing and collection.
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Financial Reporting: We generate regular financial reports, such as income statements, balance sheets, and cash flow statements, providing you with a comprehensive overview of your business's financial performance.
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Payroll Services:
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Managing payroll can be time-consuming and complex. Our payroll services streamline the process, ensuring accurate and timely payroll processing for your employees. Our services include:
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Payroll Processing: We calculate employee salaries, wages, taxes, and deductions accurately.
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Tax Filings: We handle payroll tax calculations and deductions, preparing and filing the necessary payroll tax forms, including T4s and ROEs, to meet your compliance obligations.
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Direct Deposits and Payroll Reports: We facilitate direct deposits to employees' bank accounts, ensuring timely and convenient payment. Additionally, we provide payroll reports that detail the breakdown of employee compensation, taxes, and deductions.
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Compliance and Remittances: We assist you in staying compliant with payroll-related remittances, including income tax, Canada Pension Plan (CPP), and Employment Insurance (EI) contributions, ensuring accurate remittance calculations and on-time remittance submissions.
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By outsourcing your bookkeeping and payroll functions to LFG Partners, you can save valuable time and resources, minimize errors, and ensure compliance with relevant regulations. Our team is dedicated to providing accurate financial records and reliable payroll management, allowing you to focus on the growth and success of your business.
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Contact us today to learn more about how our bookkeeping and payroll services can benefit your small or medium-sized business.