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Your trusted full-service accounting, bookkeeping, and tax preparation company in Calgary, Alberta.

Yusuf Rupawala, Founder

Yusuf Rupawala, Founder

Yusuf Rupawala has always been passionate about numbers. At the young age of twelve, he knew he wanted to be an Accountant. Growing up, there was only one professionally qualified Accountant in his extended family, which further motivated him to pursue a Chartered Accountant designation.

Yusuf believes that life presents many opportunities to learn from our environment and experiences, and we should always take advantage of it because learning is an ongoing process. This motto led him to pursue multiple qualifications including a degree in Management Accounting and a Masters in Business Administration. His journey continues to date.

His previous work experience with two of the BIG four audit firms led to his realization that the quality of records maintained by small businesses is way below par. There is a need for professional touch in the accounting done for the small businesses. However, not all small businesses can afford quality accounting services, which led to the creation of Debits & Credits Inc.

At Debits & Credits Inc. we assist small businesses with quality work at an affordable price. Our mission is to prioritize our clients and serve them to the best of our ability. As we venture out into the business arena, we look forward to partnering with our clients, because their successes are ours. You can succeed only when your Partners do.

Yusuf Rupawala, MBA, CA, CMA, CIA

What We Offer

Accounting

  What To Expect From Your Accountant Accounting refers to the systematic analyzing, summarizing and reporting of financial transactions. An Accountant's role begins where the Bookkeeper's ends. So you have a bookkeeper who has recorded all the transactions in the software, but now you need to generate reports and analyze them. Simply recording the transactions in the software and not analyzing them is as good as half-cooked food. It doesn’t serve the purpose. Having good information is one thing and having the expertise to understand it is something else. We can assist in…

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Bookkeeping

  The Importance Of Bookkeeping Bookkeeping refers to the recording of debit and credit transactions in the general ledger. It forms the basis of the accounting reports and financial statements which are useful for the owners to understand the performance of their business.   Bookkeeping is an integral part of the success of a business, however, the bookkeeper's role varies depending on the size and nature of the business. Hence, timelines and accuracy are imperative in a bookkeeping role. Debits & Credits Inc. follows the International Financial Reporting Standard (IFRS) in…

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Financial Planning

  Financial Planning To Map Out Your Future Financial planning is one of the top few items a business undertakes before it ventures out in the market. It determines how the business will be able to afford the expenses that are imperative to generating income and achieve its strategic goal. Our financial planning service is focused on equipping you with strategies that will help you resolve the ‘pain areas’ and accelerate your business on full throttle. We make your success our business! Debits & Credits Inc. performs stress test financial modelling for various probable…

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Tax Preparation

  Get Ahead Of Your Taxes Tax filing shouldn’t be considered as a year-end event. You need to plan and prepare for it all year round. We understand that tax filing can seem to be a daunting task and dealing with CRA can be intimidating. Let us handle it for you. We maintain a complete record of your supporting documents for computing the Balance Owing or Refund Due. The CRA’s main area of focus for audits includes childcare, medical, and moving expenses in the case of individuals. In case of your business expenses, CRA has a list of items which can be considered as deductible. …

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