Coral is the online accounting department for your startup. We help you run it profitably, provide actionable business advice and stay compliant with CRA.
• On-time financial reports
• Accurate revenue reporting
• Reconciliations to bank and insurance
• Proactive commentary on the key items
• Accurate GST/HST filing of taxable
and zero-rated services
• Fully managed payroll
• Automated CRA remittances & Direct
deposits
• Filing of payroll slips
• Record of Employment (ROE), WSIB, EHT
• Vacation pay and Statutory pay calcs
• Year-end adjusting entries
• Management letter
• Year-end reconciliations
• T2 corporate tax returns
• Formal Financial Statements
• Tax efficient withdrawal from the corporation
• Creation of holding company
• Tax-efficient retirement income planning
• Planning for passive investment income in
corporations (investments & real estate)
• Strategies for intergenerational wealth
transfer
• Financial budgeting and forecasting
• Development of KPIs
• Financial performance analysis and
reporting
• Cost reduction and efficiency improvement
• Cash flow management
• Work with lenders to obtain financing
• Profitability improvement initiatives
• Financial due diligence services for acquisitions
• Tax scenario analysis
• Review of contracts and agreements
• Financial analysis on Marketing initiatives
• Financial analysis on new products/services