1. What is the difference between Accounting and Bookkeeping?

​

Bookkeeping is the recording and organization of

financial data, including tasks like invoicing, billing,

payroll and reconciling transactions. Accounting

analyzes and reports on these transactions and often

completes more complex tasks such as tax returns

and auditing.

​

2. Why do you only use Quickbooks Online?

​

Quickbooks online is one of the most commonly used softwares for small businesses. While bookkeeping rules tend to be similar across the board, there are many differences to the ins and outs of these softwares. To keep our processes as efficient as possible we utilize one software to excel in. Our clients can be confident that we are experts in using the software and do not have to worry about simple errors that can result from differences between programs

​

3. Is Virtual Bookkeeping “safe”?

​

We understand that it can be difficult to trust anyone to work in your business let alone when it’s someone with access to your financial information. The privacy of our clients is a top priority for us. Some of the things we do to ensure the privacy of your data are:

​​

• Keep up-to-date virus software and Firewall protection. 

• Strict password management and access controls

• Regular security reviews

​​

 

4. Can't I just do the books myself?

​

Absolutely you can! When making this decision it is important to understand the value of your time and if you have enough of it. Is your time worth more doing something else in your business instead? Do you have enough time to keep your books up-to-date and learn how to do it correctly? Recording transactions incorrectly can have a huge impact on things like taxes, revenue and profit so it is important that it is done correctly!

​

5. Who do you work with?

​

We work with service based business's across Canada. While we work with businesses from many different industries, we specialize in working with Trades, Franchises and the Health and Wellness Sector.

​

6. How much does it cost?

​

Our monthly bookkeeping retainers start from $350/month. Pricing will then depend on a number of factors such as:

​

• Number of accounts (chequing, savings, credit cards, LOCs etc.

• Number of transactions per account

• Third party software (such as Paypal, Stripe, Jane, Jobber etc.

• Additional services and their required frequency (AP, AR, Payroll)

​

7. How does monthly bookkeeping work?

​

With monthly bookkeeping you will have access to our receipt management app where you can upload receipts with a snap of a picture from your phone. At the end of the month we will review and categorize all of these receipts and ensure they are correctly imported into Quickbooks. We will then reconcile these along with your other transactions, watch for errors and ensure everything matches your bank statements. You will then get a monthly report package so you can see exactly how your business did that month. Our monthly bookkeeping includes sales tax filing (HST/GST/PST). We make notes along the way to highlight things for your accountant (like new assets) so that come year end, everything is all ready in a nice package for them!​​​​