Cloud-Based Accounting System Setup
Unleash the Power of Cloud-Based Computing
A cloud-based accounting platform can handle all the traditional functions of a desktop accounting system. In addition, moving your accounting system to the cloud allows you to:
- Email invoices directly from your computer or smartphone.
- Accept payments by connecting your accounting system to a payment processor.
- Send pay stubs online and make direct deposits.
- Import bank and credit card transactions directly from your financial institution.
- Upload or forward receipts directly to your accounting system.
- Remit payroll deductions to the Canada Revenue Agency
- Approve and make online payments.
- Delegate tasks to different users, such as your bookkeeper and employees.
As you can see, cloud-based accounting platforms can perform all of the tasks that traditional accounting programs can, but more efficiently.
Service Scope and Rate
We customize your accounting system to meet your specific needs. It generally involves selecting a subscription plan, setting up the Chart of Accounts, assisting with bank connections and configuring payroll.
We bill by the hour. Usually, clients pay between $200 and $400 to complete the setup. Software subscriptions are additional.
Taxwise Accounting is certified by two popular cloud-based accounting platforms: QuickBooks Online and Xero. As a result, we are authorized resellers of both accounting programs.
Catch-Up Bookkeeping
Nine Years of Experience
We have been cleaning up messy books since 2017, with extensive experience working with QuickBooks Online and Xero. Over the years, we have learned how to identify common bookkeeping errors and, more importantly, how to fix them efficiently.
Whether you started the bookkeeping yourself and left it halfway done, or you have a shoebox full of receipts and statements but haven’t started yet, we can help you organize your books and get them ready for tax filing.
Rates for Catch-Up Bookkeeping
We bill by the hour. Since every business is different and the complexity of transactions varies, we can only provide a no-obligation estimate after assessing your books. We require a 50% retainer based on the estimate to start.
Based on our experience, catch-up bookkeeping for small businesses typically costs between $1,000 and $3,000 per year of catch-up work.
Bookkeeping Second Opinion
Areas We Will Check
After gaining access to your accounting system and your CRA Business account, we will check whether your bookkeeper has completed the following tasks properly:
- Account reconciliation: Have all bank and credit card accounts been reconciled?
- CRA consistency: Do the financial statements in your CRA account match those in your accounting system?
- A/R and A/P balances: Are the accounts receivable (A/R) and accounts payable (A/P) balances reasonable?
- Uncategorized transactions: Have all uncategorized assets, income and expenses been properly resolved?
- Unpaid tax balances: Are the sales tax and income tax payable account balances consistent with CRA’s version?
- Payroll liabilities: Is the payroll liability account balance in your accounting system consistent with CRA’s records?
We will provide a detailed report after completing the checkup.
Rates for a Second Opinion
We charge a flat fee of $300 for a bookkeeping second opinion.
Schedule a Free Discovery Call
Let’s talk about your business and how we can assist you.