Your Business Needs a Professional Bookkeeper!
Filingtaxes is a complete business solution for bookkeeping services in Toronto.
We provide high-quality, affordable professional bookkeeping and accounting to help you create an organized system to track your finances with regular financial reports sent directly from our team.
Our hybrid of bookkeeping services, combined with management consulting, offers synergistic solutions beyond just keeping records. We get down to the root, so all aspects are covered, including management reports, estimates, proposals, tax accounting, tax planning, and financial planning services for businesses of all sizes.
Our team is standing by to provide you with one-on-one assistance at any time. Our certified professionals will help you with all of your financial data management needs remotely from the comfort of your home. We welcome clients from across Canada.
What is a Bookkeeping Service?
Bookkeeping is the systematic categorization, recording, and organization of all business transactions in an organization's business operations. A bookkeeping service is capable of maintaining accurate, current, and comprehensive records of financial transactions.
It provides accounts with the information they need to be prepared. In the context of the broader discipline of accounting, it is a distinct process.
What makes bookkeeping important for small businesses?
Keeping an eye on your finances is essential for making timely, informed business decisions, whether you're a start-up or an established company.
Suppose you don't seek the assistance of a professional bookkeeper. In that case, you run the risk of being trapped in cash flow crunches, as well as wasting time and money.
An organization's accounting process depends on accurate bookkeeping. Keeping a book of financial transactions ensures that the record is up-to-date and, more importantly, accurate.
The quality of your accounts will very likely determine the level of success of your business in today's competitive market.
Bookkeeping is not only essential for tracking financial positions but also for complying with regulatory requirements.
Let us help you with our bookkeeping services!
Depending on your business's requirements, Filing Taxes can provide as much or as little bookkeeping as you need. We offer personalized and proactive bookkeeping services to help you focus on your business instead of on bookkeeping.
With over 13 years of experience providing bookkeeping services in Canada, we have served clients of all sizes and industries, reducing their workloads, solving their challenges, and improving their quality of work life. We will help you streamline your bookkeeping systems based on best practices while maintaining checks and balances.
As part of our bookkeeping services, we support start-ups in their growth phase so they can prepare for an exit. You can use this service to evaluate finance options for your start-up.
We offer customized bookkeeping services to fit your needs and comfort level, so you can concentrate on core business, reduce overhead, and increase profitability.
In Toronto, our company takes pride in offering a top-notch bookkeeping service that has a high client retention rate and a track record of client satisfaction.
With all-inclusive packages and instant answers to questions, we have a fixed rate policy.
What is covered by our bookkeeping service?
Financial transactions are recorded, stored, and retrieved in bookkeeping, whether for a company, non-profit organization, or individual. Accountants then use the information from bookkeeping, so bookkeeping and accounting are closely related.
Our bookkeeping services in Toronto include:
- Day to day recording of business transactions
- Entering, coding, and paying bills
- Creating and sending customer invoices
- Accounts payable management
- Accounts receivable management
- Debtors monitoring
- Management Information Report
- Handling payroll
- Trial balance reconciliations,
- Reconciling bank and credit card accounts
- Preparing account analysis
- Prepare work papers for month-end closing and audit support
- Scan & attach documents for tax and audit support
- Prepare client source documents (PBCs) for audit support
- Cloud computing
- Bookkeeping clean up
- Work with your tax preparer and assist with tax compliance
- Make technology and process streamlining recommendations
As well as these general services, our professionals at FilingTaxes can also assist you with filing your tax returns, which you might expect from a high-quality bookkeeping service.
Who would need a bookkeeper?
Regardless of their size or industry, all businesses must conduct at least basic bookkeeping. No matter how large or small your business is, keeping your finances organized is crucial to its long-term success.
We will assist you in every way possible! Suppose you belong to any of the following. In that case, you'll gain access to our long-range perspective and shoulder-to-shoulder collaboration:
- A small to medium-sized company or non-profit organization.
- An individual who wants assistance with personal financial record-keeping."
- Establishing a new business and wanting to ensure that everything is appropriately handled from the beginning.
- Spending excessive time on your business's bookkeeping and not enough time bringing in new business.
- Loss of time and money due to mismanaged financial records.
- Spending too much money for a full-time bookkeeper.
- Not prepared for your quarterly and annual tax filing.
- Desiring you or your staff to have a better understanding of QuickBooks.
Send us a message with your inquiry, or call us today if you are looking for dependable, trustworthy bookkeeping services in Toronto.
Do small businesses need bookkeeping services?
A major reason why small businesses fail in Canada within the first few years is due to financial mismanagement. If you own your own small business, you're probably used to juggling several tasks at once. Because of this, bookkeeping is necessary for all companies, regardless of size. It does not matter whether you do the work yourself or if you hire someone to help you. Financial planning can help you create a solid business plan and better plan other business areas.
What is the difference between a bookkeeper and an accountant?
Bookkeepers and accountants perform different tasks and perform different jobs. Keeping track of financial transactions is the job of bookkeepers, while accountants analyze that data.
Should I hire a bookkeeper or an accountant?
Accounting, bookkeeping, or both? As a small business owner, tracking your finances can be a hassle, and one of the biggest questions you might have is who can help you with them. A well-run business is likely to employ both accountants and bookkeepers at the same time. Organizing financial records and balancing budgets by the bookkeeper, smart financial strategy and accurate tax preparation by the accountant are necessary for long-term success.
How much does a bookkeeper charge in Canada?
Bookkeeping fees are most commonly quoted as hourly rates, but this is not always true. There is also the possibility that bookkeepers may charge a flat fee for each type of bookkeeping service. Your bookkeeping rates and salary will be determined by your business's needs and the volume of your books. A bookkeeping service's charges depend on several factors, such as the amount of work to be done and the level of expertise you need.
How should I choose a bookkeeping service?
Most business owners either lack the knowledge or don't have enough time to handle their books. Thus, you would benefit from hiring a bookkeeper to handle your books. Even the most sophisticated bookkeeper can mismanage your books and embezzle money. You need a bookkeeper who knows your business in and out. To maximize the return on your investment, you should hire a complete bookkeeping service.
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