Year-End Financial Statements for BC Small Businesses

Every corporation needs year-end financial statements to file its T2 tax return. We clean up your books, prepare your balance sheet and income statement, and file your T2 with them, all for one fixed price.

Who this is for

• Incorporated trades and service businesses: contractors, locksmiths, door and security installers, consultants, IT contractors, clinics and agencies
• Holding companies
• Owners who do their own bookkeeping and need it finished properly at year-end
• Corporations whose books are behind or messy

What's included

• Review and clean-up of your books for the year (QuickBooks Online or bank and card statements)
• Year-end adjustments: shareholder loan, amortization, accrued and prepaid items
• Balance sheet and income statement for the year
• Financial statement information coded for the CRA and filed with your T2 corporate tax return
• A walk-through of the numbers, so you know how the year went

Pricing

You get an exact fixed price after a short call, once we know the size of your file. No hourly billing.

How it works

1. Book a 15-minute call. We go over your corporation, year-end and records.
2. Send your records. Bank and credit card statements, or access to your QuickBooks file.
3. We prepare everything. Clean books, year-end statements and the T2, then we walk you through the numbers.
4. You sign, we file. The T2 goes to the CRA electronically and you get a copy of everything for your records.

Why J&O Financial

• Corporate tax and bookkeeping for BC businesses since 2013
• Fixed prices, no surprise invoices
• Fully remote, anywhere in BC
• We work in English, Russian and Hebrew
• 5.0 stars on Google

Frequently asked questions

Do I need financial statements to file my T2?

Yes. Corporations report their financial statement information to the CRA with their T2 return, using the CRA's standard codes (GIFI). We prepare the statements and code them for you.

I already do my own bookkeeping. Can you just do year-end?

Yes. We review your books, make the year-end adjustments and prepare the statements and T2. If something needs fixing, we tell you before we start.

When do I need to send my records?

As soon as you can after your year-end. Your T2 is due within six months after your corporation's year-end, and any tax owing is usually due earlier, two or three months after year-end. Sending records early gives you time to plan for the tax.

How long should I keep my records?

Generally six years from the end of the tax year they relate to. We give you a full copy of your year-end file.

My books are a few years behind. Can you help?

Yes. We catch up the books and prepare statements and returns for each year, oldest first.

Do you also do monthly bookkeeping?

Yes. Many clients have us keep their books monthly in QuickBooks Online, so year-end is quick and there are no surprises.

Corporate tax returns (T2) · See all our services