The importance of bookkeeping services:
having a clean and up to date set of books
When you file you’re HST, PST, corporate taxes and payroll related filings late you will incur penalties and interest. As a small business owner you work hard to increase your profits and want to avoid these unnecessary costs. If CRA selects you for an audit or review you want to ensure that your filings are accurate and that you are audit ready.
Internal financial reports such as a profit and loss statement with comparisons to prior year or a budget, statement of cash flows and a Balance Sheet are essential to understand your profitability and key performance indicators. Your sales are the most important, however you need to know how to maximize your bottom line with these sales.
One day you may plan to sell your business. A buyer will want to do financial due diligence to validate your normalized EBITDA, assets, liabilities and retainer earnings.
How we provide our bookkeeping services:
We treat every client as a unique individual. Our operating procedure is to work with the client and set up a process that is easy for them to understand and use.
The Holst Equation Inc. does not usually work from standardized “industry” templates when setting up the books. We custom design each company file to suit the needs of the client and their business requirements.
Cloud accounting:
For those clients that want to have access to their accounting records we offer cloud based accounting including QuickBooks Desktop on our cloud server or QuickBooks Online.
Cloud accounting:
For those clients that want to have access to their accounting records we offer cloud based accounting including QuickBooks Desktop on our cloud server or QuickBooks Online.
Bookkeeping team:
We have a team of well qualified bookkeepers that do all of the bookkeeping from our office. You will have a Senior Manager dedicated to your business. Other bookkeepers will assist the Senior Manager to allow two sets of eyes on the books and cross coverage to allow uninterrupted service during vacation and sick time.
Frequency and type of service:
The frequency of the bookkeeping could be daily, weekly, monthly, quarterly or annually. This will be determined based on your reporting requirements, payroll requirements and the frequency of your government filings.
The level of service that we provide will be determined based on your requirements and budget. Our typical bookkeeping client has one to ten employees that require bi-weekly payroll, monthly reconciliations, HST and internal financial reports. We also have some larger clients with ten to forty employees that require this, however we also receive their mail, print and issue supplier cheques, receive and deposit client payments, prepare a weekly cash flow report and provide business segment profitability reporting.
Frequency and type of service:
The frequency of the bookkeeping could be daily, weekly, monthly, quarterly or annually. This will be determined based on your reporting requirements, payroll requirements and the frequency of your government filings.
Paper work exchange:
The exchange of paper work and entry of your receipts to the accounting system will be determined based on your unique situation.
One option is to use “Receipt Bank” that allows you to scan documents with your phone or scanner or to email documents to a specific email address. These documents are received by us and then reviewed, coded and uploaded or entered in to the accounting software. These receipts can be viewed by yourself and will be safely stored in the data base. Your bank and credit card statements can be uploaded directly to both QuickBooks Desktop and QuickBooks Online, scanned and emailed to us or you could provide us read only access to your bank statements.
Other options include drop box, scanning and emailing or courier.
Paper work exchange:
The exchange of paper work and entry of your receipts to the accounting system will be determined based on your unique situation.
One option is to use “Receipt Bank” that allows you to scan documents with your phone or scanner or to email documents to a specific email address. These documents are received by us and then reviewed, coded and uploaded or entered in to the accounting software. These receipts can be viewed by yourself and will be safely stored in the data base. Your bank and credit card statements can be uploaded directly to both QuickBooks Desktop and QuickBooks Online, scanned and emailed to us or you could provide us read only access to your bank statements.
Other options include drop box, scanning and emailing or courier.
Cloud accounting:
For those clients that want to have access to their accounting records we offer cloud based accounting including QuickBooks Desktop on our cloud server or QuickBooks Online.
Bookkeeping team:
We have a team of well qualified bookkeepers that do all of the bookkeeping from our office. You will have a Senior Manager dedicated to your business. Other bookkeepers will assist the Senior Manager to allow two sets of eyes on the books and cross coverage to allow uninterrupted service during vacation and sick time.
Frequency and type of service:
The frequency of the bookkeeping could be daily, weekly, monthly, quarterly or annually. This will be determined based on your reporting requirements, payroll requirements and the frequency of your government filings.
The level of service that we provide will be determined based on your requirements and budget. Our typical bookkeeping client has one to ten employees that require bi-weekly payroll, monthly reconciliations, HST and internal financial reports. We also have some larger clients with ten to forty employees that require this, however we also receive their mail, print and issue supplier cheques, receive and deposit client payments, prepare a weekly cash flow report and provide business segment profitability reporting.
Paper work exchange:
The exchange of paper work and entry of your receipts to the accounting system will be determined based on your unique situation.
One option is to use “Receipt Bank” that allows you to scan documents with your phone or scanner or to email documents to a specific email address. These documents are received by us and then reviewed, coded and uploaded or entered in to the accounting software. These receipts can be viewed by yourself and will be safely stored in the data base. Your bank and credit card statements can be uploaded directly to both QuickBooks Desktop and QuickBooks Online, scanned and emailed to us or you could provide us read only access to your bank statements.
Other options include drop box, scanning and emailing or courier.