Services We Offer

We are the full service outsourced accounting department for small businesses and non-profit organizations across Canada and the US. We’ve been helping businesses with their accounting and bookkeeping for more than a decade.

Financial Management

The success of your organization – whether big, small, for-profit, or not-for-profit – depends on sound financial management. This is where Profit Line steps in. We are financial management experts and our goal is to help you develop the best financial practices for your business.

QuickBooks

Our accounting software of choice is QuickBooks, the most widely used accounting tool in the world. We are QuickBooks experts and can customize your chart of accounts and reports according to the needs of your business. The Profit Line will ensure that your books are accurate and up-to-date, and can send you the financial reports you need at any time.

Financial Statements

We provide you with the Financial Statements you need to run your business, including the Income Statement and Balance Sheet and all other standard accounting reports. We can also maintain your own unique financial reports, such as board or investor reports, or work with you to create custom reports you may need.

Invoicing

We consider invoicing to be one of the most important accounting tasks we have. The faster you send out your invoices, the faster you get paid. Timely invoicing makes a huge difference to your cash flow. If your company has billable expenses that are charged back to customers, it’s critical that these costs are properly identified and invoiced.

Bank & Credit Card Reconcilliation

Reconciling your bank and credit card accounts on a monthly basis is a must for any organization. This process ensures that no transactions have been missed and that financial statements are complete and accurate.

Job Costing

Do you know if your individual projects are profitable? Setting up proper job-costing allows you to keep track of the costs for each project or customer. Knowing where and how you make money can be invaluable.

Customized to Each Customer

Your accounting department is customized to include the services you need.

Customized to Each Customer
Profitability by Customer

Do you know which of your customers or projects are most profitable? Let us set up an accounting system which easily keeps track of these customer or project specific revenues and expenses.

Budget to Actual Reports

Let us help you create a budget which can be used to track how you’re doing throughout the year. Budget to Actual Reports, also known as Budget Variance Reports, are an extremely useful tool, not only for large companies, but for small businesses and non-profit organizations as well.

Accounts Receivable (AR)

Timely invoicing and pro-active management of Accounts Receivable (AR) are critical to every business and to good cash flow. We’ll ensure that your invoicing is done on time and that you are on top of your AR.

Accounts Payable (AP)

Make sure you capture all of your business expenses by having us handle your Accounts Payable (AP). We track your AP to ensure that your vendors are paid on time and that you always know what expenses are coming due.

Payroll

We help you set-up and manage your payroll. For Canadian companies, we’ll let you know when you need to register for EHT and, of course, there’s always WSIB.

Canadian Taxes & Govt Remittances

For Canadian companies, keeping the Canada Revenue Agency happy can be a job all of its own. We make sure you stay on top of all the taxes your
business might owe – HST, WSIB, Payroll Remittances, EHT, and corporate installments. We make the yearend process a breeze by staying current throughout the year. We work directly with your year-end tax accountant to ensure they have the working papers required to file your tax return.