Canadian Accounting Services
   
  Bookkeeping Services
 
  • Accounts Payable
  • Accounts Receivable
  • General Ledger
  • Inventory
  • Bank Reconciliation
  • Account Reconciliation
  • GST and PST reconciliation
   
  Payroll 
 
  • Year-end T4s and T4 summaries
  • Payroll (weekly, bi-weekly, monthly, semi-monthly)
  • Administration of employee benefits
   
  Financial Services 
 
  • Profit and Loss Account
  • Balance sheet
  • Month end and year end adjustment entries
  • Job cost Statement
  • Cash flow Statement
  • Financial Analysis
   
  Budgeting 
 
  • Budget set-up and maintenance
  • Capital budgeting
  • Revenue budgeting
  • Cost budgeting
  • Budget variance reporting
   
  Software Expertise 
 
  • QuickBooks Canada
  • Simply Accounting
  • NetSuite
   
 

Existing ClienClient Size: Small medium businesses with annual revenue from USD 1 million to 350 million.
Geographic Spread: Canada

Industry Sectors: Construction, Real Estate (Property Management), Retail and Wholesale, Logistics, IT and CPAs

CLIENT LIST- Portfolio

 
  • CPA firms-sole practitioners and multi-partner firms
  • Well-known construction and development companies based in British Columbia
  • A well known accounting firm serving small medium business based in Montreal, Quebec
  • Accountancy firm providing accounting services to businesses in Edmonton, Alberta
  • Wholesale and distribution firm based out of Calgary, Alberta
  • Chain of Children's Therapy Center based out of Westmount, Quebec
   
 
 
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Caselet I 
Our Services: Accounts payable processing involving entry of invoices and generation of management reports

Client Profile: A well-known Canadian real estate developer based in Vancouver with proven expertise in constructing and developing high rise concrete homes

Client Size: USD 300-350 million with 60 employees

Challenge: Rising staff costs along with problems involved in expanding operations triggered the search for an outsourcing solution for their accounts payable team beginning with the entry of AP invoices.

Solution: 
  • Team of two accountants was set-up to service the stiff service levels (same day TAT with 99% accuracy)
  • Designed a migration plan that covered business, technology , process review and work-flow steps
  • Two week comprehensive training program to familiarize staff with the software (Timberline) and the process
  • Gradual transition from the pilot phase to the “live” phase ensured smooth scaling up
 
Achievement: 
  • Same day turnaround with 99.7% accuracy levels for a daily processing volume of 125 invoices per FTE
  • Successful handling of complex invoices involving progressive invoicing and multiple tax codes
 
Caselet II 
Our Services: Accounting and payroll services in Simply Accounting and QuickBooks for small medium size companies.

Client Profile: Accountancy firm providing accounting services to small medium businesses in Alberta, Canada

Challenge: Using outsourcing to reduce cost and eliminate any onshore hiring.

Solution:  
  • A junior accountant was set-up to service the client. Review handled by a senior accountant
  • A pilot phase was designed (one month) where-in we gradually increased the workload from handling 10 companies to over 50 companies in a month
  • Quickly reviewed the existing practices of the end clients (retailers, wholesalers, professional services) and created process manuals to capture key accounting practices for each sector
 
Achievement: 
  • Client achieved cost savings of 40% when compared against an onshore option
  • Client added new customers without increasing head-count.
 
Caselet III 
Our Services: Monthly bookkeeping services- invoicing, expense accounting, accounts payable processing (including credit cards transactions), accounts receivable processing (booking receipts), bank and credit card reconciliations and general ledger maintenance.

Client Profile: Wholesale and distribution firm based out of Alberta, Canada

Challenges:  
  • Migration of clients books from Simply Accounting to QuickBooks.
  • Setting up of charts of accounts in QuickBooks
  • The client had a large list of raw material and finished goods items and they had to be checked and coded to the right accounts.
 
Solution:  
  • An experienced junior accountant was set-up to service the client. Review handled by a senior accountant
  • Set up of a clean and logical charts of accounts
  • Rationalizing and correcting the item list to reflect direct cost • Setting accounting procedure to handle work-in-progress items
 
Achievement: 
  • Successful migration of books from Simply accounting to QuickBooks
  • The client has completely well maintained books with accurate inventory tracking
  • This eliminated the need of hiring a part time accountant in Canada
 
   
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