Business Accounting

We provide a full-service accounting solution designed to take tax and financial matters off your mind so you can focus on what you do best. Whether you are a Canadian business owner, a self-employed professional, or an individual, we help you stay compliant, organized, and confident with your finances. 

OUR SERVICES

Business Accounting Services

Running a business requires accurate numbers and reliable support. We provide full-service accounting solutions so you can make informed decisions with confidence.

  • Make Better Business Decisions: Gain a clear view of your profit margins and expenses so you can reinvest in your company with confidence.
  • Secure Business Financing: Provide Ontario banks and lenders with the professional documentation they require to approve loans and lines of credit.
  • Attract Potential Investors: Demonstrate the value and scalability of your business through transparent, high-quality financial reporting.
  • Understand Your True Performance: Evaluate your year-over-year growth and identify areas where you can improve efficiency and cash flow.

At Magic Accounting, we don't just "do the books"—we prepare the core documents that reflect the hard work you put into your business every day. We empower you to move beyond guesswork and start making data-driven decisions.

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Person's hand holding a pencil, writing or calculating on a spreadsheet with numbers.

Payroll & Bookkeeping

Running a successful business requires accurate numbers to make informed decisions. Good bookkeeping saves you time and money by preventing costly mistakes and providing a clear understanding of your true performance.

Services include:

  • Bookkeeping & general ledger
  • General ledger maintenance
  • Accounts receivable management
  • Accounts payable management
  • Bank reconciliation
  • Credit card reconciliation
  • Profit & Loss statements
  • Balance sheets
  • Trial balances
Tax forms with a percentage sign and two pencils.

Payroll & WSIB Filing

Compliance is a major pain point for all businesses. We set up and manage your financial systems correctly from day one, handling payroll remittances, WSIB reportin.

Our services include:

  • Employee payroll processing
  • GST/HST filing & remittance
  • Pay to employees
  • Payroll remittances (CRA deductions)
  • T4 and T4A preparation
  • Record of Employment (ROE) support
  • Vacation pay and statutory holiday calculations
  • Payroll compliance and reporting
  • WSIB and employer contribution assistance
  • Monthly and year-end payroll summaries
Calculator, pen, and paper with numbers and a paper clip, likely for financial calculations.

GST / HST Filling

We provide accurate and timely GST/HST return preparation and filing to help businesses stay compliant with CRA requirements.

Our services include:

  • Employee payroll processing
  • GST/HST return preparation and filing
  • Input tax credit (ITC) tracking and support
  • Quarterly, monthly, or annual reporting
  • CRA compliance and remittance assistance
  • Review of GST/HST accounts and reconciliations
  • Support for new business GST/HST registration]Filing adjustments and past-due return support
Person writing in a notebook next to a laptop and bills on a table.

Corporate Tax

We provide reliable corporate tax preparation and filing services to help businesses meet their tax obligations accurately and on time.

Our services include:

  • Employee payroll processing
  • Corporate income tax return (T2) preparation
  • Financial statement review for tax filing
  • Tax planning and compliance support
  • CRA correspondence and review assistance
  • Year-end adjustments and tax reporting
  • Filing for small business deductions and credits]Corporate installment and balance due guidance


FINANCIAL STATEMENTS

For many business owners, the biggest challenge isn't just generating revenue—it's knowing exactly where that money is going. 


Operating without professional financial statements is like driving a car with a foggy windshield; you cannot see the obstacles or the opportunities ahead. Accurate financial statements provide the clarity needed to navigate your business toward long-term growth and stability. ï»¿

We meticulously prepare:

Two people reviewing charts and a laptop at a desk.
Hand holding a money bag next to a document with lines.

Balance Sheets

A snapshot of your business’s financial position, including your assets, liabilities, and equity.


Financial report with a money bag and coin.

Income Statements

A detailed breakdown of your revenues and expenses over a specific period to show your net profit or loss.


Clipboard with dollar sign in a circle with arrows, representing financial transactions.

Cash Flow Statements

A vital tool to track how money moves in and out of your business, ensuring you always have the liquidity to meet your obligations.


Hands cupping a group of people and a dollar sign.

Retained Earnings Statements

A clear record of the profits your business has kept for reinvestment rather than distributing to shareholders.


Let’s Make Your Accounting Simple

Whether you’re a business owner, self-employed professional, or individual — we’re here to help.

Book Your Free Consultation Today