Small Business Bookkeeping
Online Bookkeeping Services We Offer
Expenses and revenue management: Categorizing and organizing your business expenses and sales.
Accounting system management (journal entreis) & reporting: Inputting all your revenue and expenses into the accounting system and categorizing them so you can pull reports that give you insight into your sales income, expenses and profitability.
Reconciliations: Reconciling credit card and bank statements against your invoices and expense receipts to ensure accurate records.
Year-End: Preparing a year end package for your accountant to enable them to do a quick and painless year-end.
Accounts payable / account receivable: Managing your receivables (invoices, invoice reminders and payments) and your bill payables through an online service like Plooto.
Taxes: Calculating and filing your business and payroll taxes (including EHT, HST/GST, PST and WSIB).
Payroll: Managing your payroll - both payments and government payroll remittances.
How We Work With You
A dedicated bookkeeping team of a primary and a backup 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 setup specific times for phone or web based meetings. We recommend this approach because our bookkeepers need focused time to work without the interruption of unscheduled phone calls.
You share all documents with your bookkeeper via HubDoc because it’s more secure than email and it is the central database of all input files for the bookkeeping process.
If for any reason you don’t like your bookkeeper or are unhappy, you will contact Jonathan and he will personally work with you to ensure you are happy, including overseeing your transition to a bookkeeper you like more.
Sectors We Service
We focus on serving the following sectors and types of business:
Marketing and Tech-Related Businesses:
- Digital agencies
- Web design and development agencies
- SEM, SEO, PPC agencies
- Marketing, PR, promotion agencies
- Marketing consultants and strategists
- Tech startups and tech firms
Professional Services & Consulting:
- Engineering Consulting
- Wealth Management
- Sports medicine clinics
- Natural health clinics
- Massage therapists
- Naturopaths and homeopaths
- Dieticians and nutritionists
- 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
Fill out the form below to book a call with us for a no-obligation chat about your bookkeeping needs.
Frequently Asked Questions
How much do your virtual bookkeeping services cost?
You can review sample virtual bookkeeping packages here. Our packages are built around a $55/hr rate for bookkeeper time plus the cost of all the software (Hubdoc, Xero, etc.). Any per transaction costs like those charged by bill payment services (Plooto) are paid directly by you.
To give you an accurate quote, we need to ask you which specific services you want, the volume of accounts and transactions you have each month. We will ask you to fill out a form to give us this information and then we can give you an accurate estimate of your monthly bookkeeping cost. We can generally provide a quote within 48 hours of receiving your form submission.
Where are your bookkeepers located?
All our bookkeepers are located in Canada. Some of our competitors use bookkeepers situated in offshore markets. We believe many Canadians would prefer to use a Canadian bookkeeper situated in Canada.
Will I be able to get in touch with my virtual bookkeeper when I need them?
Yes, absolutely. You can email your bookkeeper at any time, and he/she will generally respond within a few hours on a weekday.
You can also set up a specific time for a phone or web-based meeting. We recommend this approach because our bookkeepers need focused time to work without the interruption of unscheduled phone calls.
How do I know your bookkeepers are qualified?
Most of our bookkeepers have the Certified Professional Bookkeeper designation meaning they have passed the required exams to be certified by the Institute of Professional Bookkeepers of Canada (IPBC) or a higher designation like CPA. They also have bookkeeping diplomas from recognized colleges in Canada.
Can you file my sales taxes, HST, EHT or WSIB?
Yes, we can. We can calculate and file these tax returns for you.
Can you pay my corporate or sales taxes, HST, EHT or WSIB?
No. We will calculate the payments, inform you and remind you, but you are responsible for all payments to the CRA.
Can you file my corporate or personal taxes?
No, we do not prepare tax returns, and we cannot file your corporate or personal taxes for you. However, we work closely with several accounting firms and would be glad to introduce you to them so you can find the best fit for you.
Can you manage my payroll?
Yes, we can. We use Quickbooks Payroll and WagePoint to manage payroll for you. You, the client, enter the payroll hours, or you send them to us, and we enter them for you. They will file and pay your remittances automatically. It will auto-populate T4s and Records Of Employment (ROE) and submit them to the CRA. The key feature that differentiates it from Payment Evolution (its main competitor) is that it does holiday pay calculations for you. Employee pay stubs are accessible online.
We are not responsible for the wrath of your employees or contractors for late payments that result from circumstances beyond our control including insufficient funds in your bank accounts or failure on your part to approve transactions in time.
Can you pay my bills for me?
Yes, we can. Our preferred approach is to use Plooto, a bill payment app that integrates well with Xero. Your bills go into Hubdoc, then get transferred to your accounting software which pushes the payment to Plooto, and then Plooto returns a confirmation to your accounting software. Plooto costs $0.50 per transaction and payments arrive at the recipient within 3-4 days unless you prepay Plooto in advance. We are not responsible for penalties you incur for late payments that result from circumstances beyond our control including insufficient funds in your bank accounts or failure on your part to approve transactions in time.
How do you prevent errors?
We use best practices workflows used by large accounting firms to reduce the likelihood of bookkeeping errors. These include:
- Importing transaction data directly from your bank and credit card statements (rather than typing it in).
- Using systems and workflows designed to match and compare data from different sources and to spot data discrepancies.
- Our process reconciles your bank feed data in Xero with actual receipts captured and organized by HubDoc which is built to reduce errors and has a workflow for checking data accuracy built into it. HubDoc electronically scans incoming receipts and invoices and places key data like the vendor, date and amount in data fields. These get visually checked by the bookkeeper and, if approved, get transferred to the accounting system (Xero). Xero then has a built-in reconciliation process that compares the data and highlights discrepancies.
- Hiring bookkeepers, who in personality and talent, love details and are obsessed with accuracy. That’s why they became bookkeepers!
Do you take on clients outside of Canada?
If your business is registered or incorporated outside of Canada then, no, we would not take you on as a client.
If your business is registered or incorporated in Canada, but you live outside of Canada or are traveling, then we would take on your business.