Business Accounting Services

Business accounting services include monthly transaction posting, account reconciliations, financial reporting, and year-end readiness preparation. Monthly postings involve recording all business transactions including sales, expenses, payroll, and other transactions in your accounting system. Reconciliations ensure your bank accounts, credit cards, and other accounts match your records, identifying and resolving discrepancies. Reports include monthly profit and loss statements, balance sheets, cash flow statements, and custom reports tailored to your business needs. Year-end readiness involves preparing closing entries, ensuring accounts are properly reconciled, and coordinating with tax preparation and financial statement compilation. The scope of services can be tailored to your specific needs-some businesses need full-service accounting support, while others may need specific components like reconciliations or reporting. We discuss your needs during initial consultation to determine the appropriate scope for your situation.

Yes, we support QuickBooks Online and other common cloud accounting platforms used by Vancouver businesses. Cloud accounting platforms offer advantages including real-time access, automatic backups, integration capabilities, and mobile access. We're experienced with various cloud platforms and can help you choose the right system for your needs, set up your chart of accounts, configure workflows, and ensure proper integration with your operations. We can work with your existing cloud accounting system or help you transition to a cloud platform if you're currently using desktop software or spreadsheets. Our team can access your cloud accounting system securely to perform accounting work, review transactions, and generate reports. We also provide training to help your staff use the platform effectively and maintain best practices. However, platform capabilities and features vary, so we'll discuss your specific needs and recommend platforms that best support your business accounting requirements.

Yes, we provide onboarding and best-practice training to help your staff maintain accurate accounting records and use your accounting system effectively. Training typically covers transaction entry procedures, account coding, approval processes, document management, and reconciliation processes. We tailor training to your specific accounting system, workflows, and staff roles, ensuring each team member understands their responsibilities and how to perform their accounting tasks correctly. Onboarding training helps new staff get up to speed quickly, while ongoing training ensures best practices are maintained as processes evolve. We can provide training sessions, create documentation, and offer ongoing support as questions arise. However, training effectiveness depends on staff engagement, time availability, and learning styles, so we work with you to develop training approaches that work for your team. We focus on practical, hands-on training that helps staff understand not just what to do, but why it matters for accurate accounting and reporting.

Month-end close involves completing all transaction entries, reconciling accounts, preparing adjusting entries, and generating financial reports for the month. The timeline typically depends on when we receive complete source documents, the complexity of transactions, and the number of accounts requiring reconciliation. Generally, we aim to complete month-end close within 5-10 business days after month-end, though timelines can vary based on document completeness and transaction volume. The process includes reviewing all transactions for accuracy, reconciling bank and credit card accounts, reconciling accounts receivable and payable, preparing any necessary adjusting entries, and generating financial statements. We coordinate with your team to ensure all source documents are provided promptly and any questions are resolved quickly. However, delays can occur if source documents are incomplete or missing, or if there are discrepancies requiring investigation. We work to establish realistic timelines and communicate any delays promptly. Timely month-end close supports accurate reporting and helps identify issues early, so we prioritize completing closes on schedule.

We coordinate closely with year-end tax preparation and financial statement compilation to ensure smooth processes and accurate results. Throughout the year, we maintain your books in a way that supports year-end work, ensuring accounts are properly reconciled, transactions are accurately coded, and supporting documentation is organized. At year-end, we prepare closing entries, ensure all accounts are reconciled, and provide organized financial records to support tax preparation and financial statement compilation. We coordinate with tax preparers to ensure tax adjustments are properly recorded and year-end balances are accurate. We also coordinate with financial statement preparers to ensure accounting records support compilation work and any required adjustments are identified and documented. This coordination helps ensure year-end processes run smoothly, reduces the need for adjustments, and ensures tax returns and financial statements are based on accurate accounting records. However, year-end coordination depends on timely completion of month-end closes, availability of year-end information, and coordination schedules, so we work to establish clear timelines and communication channels.