Academic Clinicians' Management Services

  • Create and customize accounts structure and financial statement format
  • Create reports in paper or electronic format
    • Monthly balance sheet and income statement for operational accounts
    • Periodic financial statements for academic accounts
    • Annual financial statements for tax purposes
  • Follow-up regarding accounts receivable of the clinician business
  • Calculate cash balances and suggest remedial action as required
  • Analyze OHIP billings
  • Analyze invoices from business to third parties for appropriate inclusion of Harmonized Sales Tax component
  • Analyze to what extent business can benefit from Scientific Research & Experimental Development tax credits (SR&ED) claims
  • Advisory, with coordination of access to outside professionals as necessary
    • Educate business representatives responsible for finances
    • Project income and expenses
    • Provide information to public accountant for Notice to Reader, Annual Review or Audit reports
    • Coordinate preparation of tax returns
    • Prepare HST returns
    • Make periodic instalments and final remittances of income tax and HST to the government