Canwest Accounting Ltd.

Bookkeeping, payroll and tax work in Victoria, British Columbia

Canwest Accounting is a bookkeeping and tax practice in Victoria, British Columbia, founded on 4 June 1991. It describes itself as an established, full-service firm able to serve small to large businesses, with work ranging from individual income tax to the books and payroll of large companies. It has offices in Victoria and Langford.

How the firm grew

The company says it started slowly with a focus on client service and grew partly through word-of-mouth referrals and partly by buying two bookkeeping practices from owners who were retiring. Those purchases needed a substantial increase in staff, and the firm says it stuck to hiring quality professionals even when less qualified people would have been a quick fix. It says it would rather be the best bookkeeping firm in Victoria than the biggest.

Work the firm takes on

• Bookkeeping: keeping the books up to date, from a box of receipts to accurate financial statements, with set-up tailored to each client.
• Payroll: tracking hours for holiday pay and staff benefits, preparing records of employment, calculating and printing T4 slips, filing WorkSafeBC requirements and handling government remittances.
• Tax preparation and filing: personal, corporate and GST and PST returns, aimed at making sure clients receive the benefits they are eligible for.
• Cash flow management: help prioritizing spending to avoid late payment penalties and making sure money owed is collected in good time.
• Financial statements: reports that show a clear financial picture and direction.
• Inventory: setting up an electronic system to track cost of goods, quantities sold and re-ordering.
• Training: instruction in Simply Accounting, including installation and set-up, so clients can track their own numbers.

Why use an accountant

The firm's own case is practical. A bookkeeper does the work for a living and so does it faster and more accurately, which saves the owner time. Up-to-date books make a tax audit less costly and time-consuming and give an owner the figures needed for quick decisions. The firm lists integrity, teamwork, an open atmosphere and staying current with rules as its values.