Small Business Bookkeeping
In online bookkeeping (also called virtual bookkeeping or cloud bookkeeping), you and your bookkeeper use cloud-accounting and document management software to create a secure, paperless system. This allows you to exchange receipts and business documents and to collaborate and get financial statements without having to exchange any paper documents.
Small Business Bookkeeping Services We Offer
Expense and revenue management
Organizing your business expense receipts and invoices.
Accounting system management (journal entries) & reporting
Inputting all your revenue and expenses into the accounting system as individual entries and categorizing them so that you can pull reports. These reports will give insight on your income, expenses and profitability.
Reconciling bank statements and credit card statements against your invoices and expense receipts to ensure completeness and accuracy.
Preparing a year end package for your accountant to enable them to perform an efficient and painless year-end.
Managing your payroll payments and government payroll remittances.
Accounts receivable / Accounts payable
Managing your receivables (generating invoices, managing reminders and receiving payments) and your payables such as bill payments via an online service like Plooto.
Calculation and filing of your business and payroll taxes (including EHT, HST/PST/GST and WSIB).
How We Work With You
A dedicated bookkeeper will be assigned to you. You will work with them on an ongoing basis and have access to them during the days and hours you agree during onboarding.
You can correspond with your bookkeeper via email at any time.
You can set up specific times for phone or web-based meetings.
You share all documents with your bookkeeper via Dext because it’s more secure than email and it is the central database of all input files for the bookkeeping process.
In terms of cloud accounting systems, we only use Quickbooks Online and Xero and we are experts in both systems and integrating them with other third-party systems.
We use bookkeeping management software called Financial Cents to manage our workflow and reminders and it has a feature that enables us to send you a list of items we need and it reminds you until you check them all off. Our clients love how it puts all the requests in one list for them.
- We help you get setup and running with virtual bookkeeping quickly.
- We start with a virtual kickoff meeting using a virtual conferencing tool like Zoom.
- We will ask you about your current system and how you manage your bookkeeping and then we develop an approach that is optimized for your needs while keeping efficiency and cost in mind.
- There are a few setup tasks you need to complete (mostly providing information to us) and then we try to take care of the rest.
For more details please see What To Expect As A New Client Of Back Office Stars – Our Onboarding Process
Sectors We Service
We focus on serving the following sectors and types of business: