Start The Next Phase Of Your Business With Next Gen Business Solutions!
At Next Gen Business Solutions, our mission is to discover, create and implement the perfect solution for our clients!
With a focus on small businesses and the heart behind them, we strive to provide flexible and custom-made solutions that fit your specific business’ needs. We spend the necessary time getting to know you, your story and your vision in order to help your business focus and grow!
We understand that COVID-19 has changed the small-business landscape drastically - causing business owners to pivot their strategies, cut back on their budgets/labour, and even relocate their offices entirely!
Fortunately, many of these businesses were eligible for government funding, allowing them to stay afloat during these unprecedented times.
Throughout 2020, we have had numerous discussions with small businesses regarding smart budgeting, better document management and analysis, and how to prepare for their CRA (Canada Revenue Agency) audit. Now, as we are well into 2021, we want to ensure that you are ready for all the unprecedented changes and limitations that may be thrown at your business!
How Can You Begin To Prepare Your Business For 2021
It’s time to move forward! The CRA has released new reporting requirements and every small business that utilizes government funding and subsidies must be aware of these new requirements moving forward.
Because of the necessary government funding that took place throughout 2020, the CRA has introduced new reporting requirements for the following:
- T4 Slips
- Statements of Remuneration Paid
- This new documentation will apply to ALL employers, including small business owners, and will help the CRA validate payments under the:
- Canada Emergency Wage Subsidy (CEWS)
- Canada Emergency Response Benefit (CERB)
- Canada Emergency Student Benefit (CESB)
Important Note: Eligibility criteria for the CERB, CEWS, and CESB is based on employment income for a defined period of time. The new requirement means that employers should report income and any retroactive payments made during these periods.
Next Gen Business Solutions is one step ahead of you!
How Can Next Gen Business Solutions Help You
In order to comply with these new CRA reporting requirements, it is imperative for small businesses to have a plan in place, as well as an easy to follow document management system.
If your books are not up to date and you are behind on your paperwork, now is the best time to invest in professional accounting services from Next Gen Business Solutions!
Benefits Of Working With Next Gen Business Solutions
- Qualify for and receive government funding and subsidies for 2021!
- Get your small-business back on track with a plan!
- Get caught up and ahead in your bookkeeping so that you can start the year off stress-free and ahead!
Next Gen Business Solutions removes the stress and provides an easy plan to move forward with! We’ll provide you with a proven system and workflow for your bookkeeping and reporting needs.
Our qualified bookkeepers will:
- Organize your books
- Bring your bookkeeping up to date
- Manage your bookkeeping on your behalf
- Provide you with regular reporting and financial statements that will allow you to make well-informed financial decisions throughout the year
- Provide you with an annual review
- Prepare your books for CRA auditing
How do we prepare you for the unknown year ahead?
- We create a workflow for you and your business (who, what, when, where).
- We create and implement Processes and Automations, which will save you time and increase accuracy!
- We provide your team with training on how to use and operate the processes and automations properly in order to avoid errors
- We re-evaluate the process on an annual basis to be sure that they are effective at helping you keep up with your business growth and allowing you to focus on your goals.
Contact us at Next Gen Business Solutions , (416) 250-0148, or fill in the form below for a FREE 30 minute consultation with a qualified bookkeeper! We can’t wait to help you achieve and surpass your 2021 goals!