Financial Statements
Professionally prepared financial statements your bank, CRA, and investors can rely on. Notice to Reader (NTR) preparation for small businesses.
Financial Statements for Small Businesses
Every incorporated business in Canada needs financial statements. They are required for your T2 corporate tax return, and they are often the first thing a bank or lender asks for when you apply for financing. If your financial statements are not prepared by a qualified accounting team, they may not be accepted.
Ontario Tax Team prepares Notice to Reader (NTR) financial statements for small businesses across Southern Ontario and the GTA. We take your bookkeeping records, organize them into proper financial statements, and deliver a professional package you can hand to your bank, your investors, or CRA with confidence.
Not sure which type you need? Most small businesses only need an NTR, and that is what we prepare. If your bank is asking for a review engagement, that is a higher level of assurance which must be performed by a licensed public accountant. We will confirm what your lender actually needs before you commit to anything. If your books need tidying up first, our bookkeeping cost calculator shows what that groundwork typically runs.
What's Included
- Income statement (profit and loss)
- Balance sheet (assets, liabilities, equity)
- Notes to financial statements
- GIFI-coded for CRA filing
- Prepared from your books without assurance
- Suitable for T2 filing and internal use
- A review adds limited assurance on top of everything in an NTR
- In Ontario a review engagement must be performed by a licensed public accountant
- Most small business lending under $250,000 is satisfied by an NTR
- We confirm what your lender actually requires before you commit
- We prepare your books and year-end package to the standard a reviewer expects
- Corporations filing a T2 tax return
- Businesses applying for bank loans or lines of credit
- Companies seeking investors or partners
- Franchise operators with reporting requirements
- Businesses bidding on contracts that require financials
- Not-for-profits with annual reporting obligations
What Our Clients Say
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Frequently Asked Questions
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