FREQUENTLY ASKED QUESTIONS
WHAT KIND OF CLIENTS DO YOU WORK WITH? DO YOU ACCEPT INDIVIDUAL CLIENTS?
Our clients consist of both Accountants AND Bookkeepers. Our pricing is low enough so both Accountants and Bookkeepers can hire us for their back-end work, while focusing on either the filing, consulting and sales side of their own businesses. Unfortunately, we do not work with Individual clients as Individuals fall outside the scope of our systems.
WHY WOULD WE HIRE YOU INSTEAD OF DOING OUR WORK OURSELVES?
The economics of efficiency is the best reasoning behind why you should hire us instead of doing the work yourself. We have streamlined the bookkeeping process and packaged it in a way that it is valuable to any Accountant or Bookkeeper. By hiring us, you can significantly increase the scale of your operations and your profitability by focusing on high-margin and growth-oriented tasks instead of the time-consuming low-margin data entry.
WHAT IS THE SCOPE OF YOUR WORK?
The scope of our work includes taking all of your client's statements and entering them into a spreadsheet. Once they have been entered, they are categorized and the accounts are reconciled. Finally, the data is used to make a trial balance and a draft income statement before the file is handed back to you. Additional services may be provided upon request, but for that please see the FAQ "What is considered to be complex bookkeeping, and how does it affect pricing?"
WHAT IS CONSIDERED TO BE COMPLEX BOOKKEEPING, AND HOW DOES IT AFFECT PRICING?
Complex Bookkeeping consists of any additional services that fall outside our Scope of Work. Additional services may be provided by the help of subcontractors which would increase the cost depending on what is needed. Examples of complex bookkeeping include processing payroll, filing GST/HST, PST and workers' compensation.
HOW DO YOU PROTECT THE CLIENT'S PRIVACY AND CONFIDENTIALITY?
Due to the nature of the industry, we are very strict with how we deal with the protection of a client's privacy and confidentiality. We use highly secure cloud servers based in Canada to store all of your clients' data. Our employees connect to the cloud and complete the work there where all sessions are recorded. We have stringent controls to make sure security is not compromised.
HOW LONG DOES IT TAKE TO COMPLETE A SINGLE CLIENT'S FILE?
Our officially stated timeline for regular bookkeeping is one week from the time documents are delivered. However, most projects are completed in 1-2 business days.
DO WE NEED TO SCAN PHYSICAL DOCUMENTS BEFORE SENDING THEM TO YOU?
You do not need to scan physical documents before sending them to us. You can simply ship all the documents to us and we will scan and ship them back to you. However, there is a scanning fee of $20 CAD per hour. For a client with approximately 1000 transactions per year with one checking account and one credit card, scanning roughly takes 4 - 8 hours. Please note this may vary depending on what needs to be scanned.
DO YOU DO PERIODIC BOOKKEEPING?
Yes, we do periodic bookkeeping, but this would fall under complex bookkeeping.