FAQ’s

What is the difference between an accountant and a bookkeeper?

Accountants generally have more extensive training than bookkeepers. they may supervise a team of bookkeepers and are certified to perform audits of business records.

What advantage is there to hiring a bookkeeper?

Hiring a bookkeeper allows the operator/manager to concentrate on the areas of the business that generate revenue.

What reports do I receive?

There are numerous reports available, depending on the software used. Basic reports include Balance Sheets, Income statement and Payroll. Other popular reports include, Comparative Analysis, Inventory tracking and Project Analysis.

I have set up my own bookkeeping system, can you pick up where I left off?

Most definitely. There may be some minor adjustments, but it usually goes smooth.

How long does it take to get started?

The initial meeting with the client determines the bookkeeping goals and requirements. The information is used to create a set of accounts to supply the end product. The amount of time it takes to get started depends on the number of accounts to create. generally a new set of accounts can be created and ready to use in 2-3 hours.

What information do you need from me?

Initially I will need to know how you wish to track income and expenses. For the balance sheet, I need a list of land, buildings, vehicles, equipment etc., owned by the business.

I will need to know any loans, mortgages and other short and long-term debts. As the process continues, we enter employee information, customers and suppliers. We then use sales invoices, purchase invoices, cheque stubs, bank and credit card statements among others to enter all the information into the computer program.

What is a fiscal year?

A fiscal year is a 12 month period used for accounting and tax purposes. It does not necessarily have to be a calendar year. A business’ first fiscal year may not be 12 months. For example, if a business started on April 01, and wishes to have December 31 as the fiscal year end, the first fiscal year would be April 01-December 31. The first full fiscal year would then be January 01 to December 31.

What is your catchment area?

My immediate catchment area is Hants County, but also includes Colchester, Halifax and Kings Counties. In todays electronic world, I can easily work with clients over long distances.

What does client training involve?

Client training involves assistance with the development of their own bookkeeping system. I then proceed with the training required to have the client operate and maintain the system on their own. Some clients also require periodic training on such issues as year-end adjustments and specialized reporting.

Will you explain the financial statement to me?

I will spend as much time as needed to ensure the clients receive the full value of the bookkeeping system.

Will you send my invoices and collect on bills?

Billing and receiving payments are among the services offered. For difficult to collect bills, I work closely with a colleague who operates a Collection Agency.

How do you bill me?

Most clients are billed on a monthly basis. Statements can be mailed, faxed or e-mailed.

We accept payments via: E-Transfer, TelPay,Cheque and Now Stripe (Just click the link on your monthly invoice).