Account Payable

Accounts Payable (AP) refers to short-term debts a business owes to creditors, typically due within a year. It also describes the department responsible for managing these obligations. The AP account on the balance sheet tracks money owed for goods and services purchased on credit.

The accounts payable department records and manages company expenses, invoices, and contracts. As a business grows, its AP workload increases—so large companies often have separate teams for managing payables and receivables.

Bookeeping

Accurate, accessible, and up-to-date records are vital for your business. Having good books isn’t enough—you need a plan to achieve them. Partnering with professional Bookkeeping Services in Toronto ensures expert support to keep your financial records organized and reliable.

Corporate Tax

All permanent corporations—except tax-exempt Crown corporations, Hutterite colonies, and registered charities—must file annual income tax returns and register for HST. This includes charitable, taxable, and underutilized organizations. Most companies can file online, and those with over $1 million in annual revenue must do so.

Payroll

Many businesses value their employees but overlook payroll management, which greatly affects cash flow, productivity, and growth. Muia Consulting provides reliable, personalized payroll services in Toronto to help companies of all sizes streamline operations and build employee trust.

Personal Tax

Income tax is deducted from citizens’ wages and submitted to the Canada Revenue Agency (CRA). The tax year runs from January 1 to December 31. Each person owes a different amount based on income, job status, and exemptions. Some taxes are withheld at the source, while others are not. You can rely on tax services Toronto to assist with filing returns.

WSIB

The Workplace Safety and Insurance Board (WSIB) is a key part of Ontario’s workplace safety system. It provides employers with no-fault insurance and safety resources, while offering workers benefits like income loss compensation, healthcare coverage, and return-to-work support after job-related injuries or illnesses.