Bookkeeping (QuickBooks, Sage, viewpoint, Jonas)
Although setting up accounting books is just the beginning, it is the most critical step in a business start. The well-managed bookkeeping process not only involves recording transactions but also requires recording them in a flexible accounting structure.
This flexible structure of accounts is the foundation of analytics used for grouping, sorting, and ordering transactions in decision-making reports. In other words, a flexible account structure organizes financial transactions into dimensions that allow slicing and dicing the information into different data views
These, in turn, help evaluate and make business decisions. That is why planning a chart of accounts in the beginning will play a crucial role for the business in the future. When business grows, this flexible account structure will be easy to restructure and adapt to a change.
So, we start with planning and setting up the chart of accounts.
· COA (Chart of Accounts)
· Inventory setup
· Budget setup
· HST setup
After configuring the chart of accounts, bookkeeping can be performed daily, weekly, monthly, or even once a year, depending on the business’s complexity. We work with you to identify the complexity of your business and agree on which bookkeeping cycle works best for your business.
We believe “Great books stand behind every great business“. We record your daily transactions, reconcile your accounts periodically and close your books at the year-end. Your books contain all the information needed to run your business. Business transactions in your books must be complete, accurate, and relevant. We do exactly that.
Our bookkeeping work is performed under the supervision of a Chartered Professional Accountant (CPA). Working side-by-side, we are performing our bookkeeping and accounting duties to ensure financial accuracy of your books. Some of our bookkeeping services include:
Periodic bookkeeping
· Bank, Credit Card, PayPal, and merchant account reconciliation
· Accounting reporting
· Payroll payment
· Cash flow monitoring
Daily bookkeeping
· Invoices (Accounts Receivable)
· PO, Invoice, Shipping receipt/BOL (Accounts Payable)
· Bill pay and check writing (Accounts Payable)
· Employee data entry
A/R management
· Customer setup and maintenance
· Monitoring outstanding receivables
· Collection and writing off bad debt
A/P management
· Vendor setup and maintenance
· Scheduling supplier payments
· Taking early payment discounts
Catching up on past bookkeeping
When books are not managed throughout a year you are at risk of being late on tax filings. We can help. We will:
· Clean up your books
· Enter missing invoices, payments, etc. for the previous periods
· Reconcile bank statements
· Complete the year-end
· File past-due government reports
Year-end preparation
· HST filing
· Closing books for tax preparation
Reach us by email or phone to book an appointment. If you would like to discuss your bookkeeping, accounting, or tax requirements over the Internet we work with Zoom, Skype, or Teams.