FAQ
At CML Business Services, we've done our best to create a Web site that anticipates and satisfies our customers' needs. With that goal in mind, we've compiled a list of frequently asked questions.
Do I need an Accountant?
You may need accountant to do prepare your financial statements and file your personal or corporate income tax return(s) and provide a tax planning.
What is a CMA?
Certified Management Accountant; an individual professionally competent in accounting who has met the examination, education and experience requirements of the Society of Management Accountants.
I thought CMAs couldn't prepare financial statements?
Yes, as a CMA I can compile financial statements with a Notice to Reader in accordance with the Public Accountancy Act of Ontario.
What is a bookkeeper?
A bookkeeper is the person that performs all manner of record-keeping tasks for your company. They enter most of the day by day transactions and are responsible for month end financial statements and year preparation. Bookkeepers are professionals in the accounting field and are vital to maintaining proper books and records and timely reporting.
Why do I need a bookkeeper?
A bookkeeper keeps your records up to date for GST/PST/HST purposes, helps track accounts receivable and accounts payable and keeps banking information up to date. If you don't, you could face fines and penalties from CRA and losses from poor planning.
Do you do bookkeeping?
No , but our partner iCCOUNTING.ca does.
Can you recommend a bookkeeper?
Yes, CML Business Services is partnered with iCCOUNTING.ca and they can provide you with bookkeeping services online.
If you do not find an answer to your question here, contact us at langevin@cmlbusinessservices.ca.
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