PRECISION BOOKKEEPERS

About Bookkeepers

Why do I need a bookkeeper?

Precision Bookkeepers focuses on the paperwork, allowing you to focus on your business. No complicated folders of receipts, no need to worry about upcoming bills or who still owes you. We'll regularly discuss your business' Balance Sheet and Income Statement to see what you're doing right and where some changes can be made.

When should I contact a bookkeeper?

As soon as you start to think about your business, a bookkeeper becomes key to taking the best next steps. We can discuss your business's organization, tax purposes and operations, along with target pricing and profit margins.

How can I know which bookkeeper is right for me?

Does your bookkeeper return your calls, messages, and emails?

Do you feel comfortable asking them a question?

Do you feel heard?

Do they customize their service for your personal and business needs?

With the right bookkeeper, the answers should be a resounding "Yes!"

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Precision Bookkeepers really helped revolutionize the way I account for my business. They walked me through things I can do on my own and they take care of the rest.

What We Do

Accounts Payable & Receivable

Complete records of customers and suppliers with all business transactions entered into QBO. Regular reporting.

Accounts Receivable and Accounts Payable involve maintaining complete records of customers and suppliers and entering all business transactions. There are many QuickBooks bookkeeping services available and can vary with each business. These would include:

* enter quotes, orders and/or invoices

* receive payments from customers

* prepare deposit slips

* issue monthly statements by mail or e-mail

* make bill payments online or by cheque

* keep track of inventory

* assign specific jobs to customers

* assign invoices from suppliers to specific jobs

Outsourcing with Precision Bookkeepers ensures that all the day-to-day business transactions are recorded and accounts are up to date. This enables you to keep track of outstanding customer accounts, pay suppliers on time and monitor inventory levels.

Month/Year End Financial Statements

Month-end and year-end preparation can be provided separately or as part of a bookkeeping package.

These services can be provided separately or as part of a bookkeeping package. This would include:

* reconciling bank accounts, credit cards and loans with their respective statements

* file and remit HST/GST file and remit WSIB either monthly or quarterly depending on your business requirements

* make adjusting entries

* prepare accounts for a new fiscal year

* work closely with your accountant to provide accurate information for income tax purposes

Financial statements show the profitability and health of your company and are important documents for decision-making.

Precision Bookkeepers will prepare a balance sheet, profit and loss statement (income statement) and trial balance on a monthly or quarterly basis and also at the end of a fiscal year. Any other reports that you need for information can be provided at your request.

Payroll & T4s

We can save you effort and time by preparing and submitting payroll as well as tracking contractor T4s.

Payroll is a very large area of bookkeeping and requires knowledge of many government regulations. Trying to stay up-to-date can be very time-consuming. Outsourcing your bookkeeping payroll can save a considerable amount of time and ensure that all taxes are remitted to the government on time.

Precision Bookkeepers is able to meet the needs of business owners by providing QuickBooks payroll services. This service is available on its own or as part of a bookkeeping package. Your payroll services would be tailored to meet the needs of your business. Some of the services provided would be:

* recording wages or salaries of each employee

* process and issue pay cheques - direct deposit is also available

* file and remit payroll taxes to the CRA

* process T4’s and T4 summaries to the CRA

* submit ROE’s either manually or electronically when needed.

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Why We Use QuickBooks Online

Quick and Organized

Enter, track, create, and send Invoices, Estimates, Bills, Purchase Orders, and more. Everything in one place.

Automatic Sales Tax

Sales tax is automatically calculated on sales and added to invoices taking into account sales tax holidays, jurisdictions, and product tax categories.

Real-time Reporting

Run a large variety of reports such as Balance Sheets, Income statements, Outstanding Receivables and Payables, Profit Margins, Profits by service/item, and more.

Integrated Payments

Allow customers to pay bills directly from your invoices or set up recurring payments to direct debit your customers for monthly services.

Automatic Payroll

Track employee hours, work on projects, automatically calculates taxes and deductions for employees, create payroll slips, and send payments

Live Bank Feeds

Review and enter transactions into your accounting records directly from your bank feed.

Mobile App

Create estimates while on-site, accept payments, photograph and upload expense receipts, and track milage.

Inventory Tracking

Automatically calculates and tracks Cost of Goods Sold and Cost of Services Sold. Allows reminders for inventory minimums and tracks current levels based on orders and sales.

Bookkeeper Collaboration

Enables real-time work between your business and us. Share documents send messages, and add notes on transactions where assistance is needed.

Contact Us

We know that the online bookkeeping needs of each business or family are unique. Use our form to tell us more about your needs or concerns, and we will give you a free quote on recurring or one-time outsourced bookkeeping services.