FREQUENTLY ASKED QUESTIONS
Edmonton bookkeeping
& tax questions, answered.
Answers about working with Prayosha Accounting, plus Alberta business questions on GST, corporate filings and record keeping. General information is linked to official sources so you can check the details that apply to you.
Getting started
Who do you work with? +
We work with Edmonton small businesses, startups, sole proprietors, independent contractors and incorporated businesses.
Is the initial consultation free? +
Yes. Contact us to request a free consultation and discuss your situation and the support you need.
How much do your services cost? +
Pricing depends on the scope of work, transaction volume and complexity. We’ll discuss your needs and provide a personalized quote.
What should I share when I first contact you? +
A brief description of your business, the services you need, your current accounting software and any upcoming reporting priorities is a useful start. We’ll confirm which records are needed next.
Bookkeeping and software
Can you help if my bookkeeping is behind? +
Yes. Catch-up and cleanup bookkeeping can help organize transactions and reconcile accounts. We’ll review your situation and discuss a practical way forward.
Which accounting software do you work with? +
We work with QuickBooks Online, QuickBooks Desktop and Sage 50. We’ll discuss your current setup during the initial conversation.
Can bookkeeping and payroll be handled together? +
Yes. We can coordinate bookkeeping and payroll services as part of an agreed service plan.
What does bookkeeping support include? +
Support can include recording and categorizing transactions, bank and credit card reconciliations, and catch-up work. The exact scope is agreed around your needs.
Tax, payroll and business support
Do you prepare corporate and personal tax returns? +
Yes. We offer corporate income tax preparation and year-end accounting support, along with personal income tax preparation for individuals, families, self-employed professionals and rental property owners.
Can you help with GST/HST? +
Yes. We help with GST/HST registration, reconciliations and return preparation.
What payroll support is available? +
Payroll support includes employee payroll, deductions, remittances, T4s and year-end reporting, within the scope agreed for your business.
Can you help me register a new business? +
Yes. We offer practical assistance with business registration, incorporation and ongoing corporate administration.
LET’S MAKE A START
Clearer numbers start with a conversation.
Tell us about your business and the support you need. We’ll discuss a practical next step.
ALBERTA BUSINESS BASICS
GST, corporate filings & business records.
General information checked October 21, 2026. Your circumstances can change the requirements; use the official guidance below and confirm what applies to your business.
Do Alberta businesses charge GST or HST? +
For taxable supplies made in Alberta, GST is generally 5% and Alberta has no provincial sales tax. Zero-rated and exempt supplies have different treatment. For sales made in other provinces, the applicable GST/HST rate depends on place-of-supply rules. Check CRA’s GST/HST rate guidance.
When does a small business need to register for GST/HST? +
For most businesses, the small-supplier limit is $30,000 of worldwide taxable supplies, including those of associated persons, in a single calendar quarter or over four consecutive calendar quarters. Registration timing differs between these tests; special rules and voluntary registration may also apply. Check CRA’s registration rules before deciding when to register or charge tax.
Does an Alberta corporation need a separate provincial tax return? +
An Alberta corporate income tax return (AT1) is generally required when a corporation has a permanent establishment in Alberta during the tax year, unless an exemption applies. This is separate from the federal T2 return. Confirm which filings apply to your corporation and which preparation services are included in your engagement. Read Alberta’s corporate income tax guidance.
How long should I keep business and payroll records? +
CRA generally requires business records and supporting documents for six years from the end of the last tax year they relate to; some situations require longer retention. Alberta employment standards also require employment records for three years, which does not replace applicable CRA requirements. CRA record-retention guidance · Alberta employment-record guidance.
Is registering a trade name the same as incorporating in Alberta? +
No. Registering a trade name does not create a separate legal entity or grant ownership of the name. Incorporation is a separate process. Obtain legal advice when choosing a business structure or assessing liability. Read Alberta’s business-name registration guidance.