Bookkeeping is essential to every business owner; it is the best way to stay organized and keep adequate records of your business transactions. Keeping track of your day-to-day transactions can be time-consuming and we understand that as a business owner you already have plenty of things to worry about. At Hawco Peters and Associates we can assist you by keeping accurate financial records to help you focus on the growth of your business.
We utilize QuickBooks Online for various tasks such as; keeping track of your business transactions, GST filing, and monthly bank reconciliations. Our bookkeeping services and expertise will allow you to control your business finances, manage your cash flow, and organize all financial records for month and year-end reporting.
The Importance Of Bookkeeping
Problem:
Small business can be highly affected by inaccurate bookkeeping, which can lead business to financial frustrations, lack of visibility into future cash flows, late preparation of financial statements resulting in poor decision making. Many businesses that have poor bookkeeping will start to notice that their financial statements are never accurate or fully prepared, this can be caused by several factors such as not tracking income and expenses properly or in a timely manner. Several issues can result from poorly maintained records, such as inaccurate financial statements and late penalties for GST/tax filing.
Solutions:
Our bookkeeping services and expertise allows us to help small businesses keep track of their income and expenses, effectively recording all business transactions properly and in a timely manner. Preparing bank reconciliations and month end reports in real time will help your business gain access to accurate financial statements. This will help your business save time and money when filing your GST or Corporate tax return.
Who is it for:
Every business owner or self-employed individual can benefit from having proper and accurate bookkeeping procedures in place. Having a bookkeeper that can manage your business transactions, oversee your accounts payable and accounts receivable will help you keep your business on track for paying vendors and receiving customer payments when expected.
Why We Are Different
We acknowledge that bookkeeping is critical to a company's growth and success; it is the most effective way to maintain your financial records correct and up to date. Hawco Peters and Associates are dedicated to learning about your needs and assisting your company with the financial and government compliance aspects of its operations.
Bookkeeping Services
Our bookkeeping service focuses on effectively helping small businesses maintain financial records organised and accurate, to ensure efficient operation of your business (can enter what type of business we are targeting ?). Hawco Peters and Associates help educate clients to make the right financial decisions that will help grow or save their business. Our services include:
- Accounts Payable – Data entry, and reconciliation
- Accounts Receivable – Invoicing, monthly statements, and reconciliations
- Bank Reconciliations
- Expense Management
- GST Filing
- Monthly Financial Statement Reporting
- Payroll
- Monthly Forecasting
With proper bookkeeping better financial decisions can be made for your small business, our services will give you accurate financial records that will allow you to manage and analyse your business and better understand your current financial position. Having a better knowledge of where your business currently stands will help you strategically plan for future events. By having access to up-to-date transactions and reports, your business will have an easier time locating and providing accurate financial information to any interested third party (i.e., CRA, lenders, investors etc.)
Contributing To Your Company's Growth And Success
Using the knowledge of our team at Hawco Peters and Associates will provide your company with a wide variety of finance and business experience.
Outside Bookkeeping Expertise Can Help Your Business
Recap:
Having to hire an entire staff of bookkeeping experts can be costly for your small business. Our bookkeeping services and experts can save you the time and costs of hiring a full-time bookkeeper. Our bookkeeping services main focus is providing all our clients with efficient and proper financial records in a timely manner. Having access to a bookkeeper will help your small business maintain accurate record keeping, manage your cash flow, and organise financial records for when it's time to prepare year-end financial statements, and file GST/Tax returns.
Key services:
Our bookkeeping services include overseeing accounts payable and accounts receivables, monthly bank reconciliations, GST filing, and preparation of monthly statements. By utilising QuickBooks Online, we can help your small business maintain the proper bookkeeping procedures in place.
Procedures And Standards For Bookkeeping
To ensure that your business records are up to date and correct, we use a four-step process to ensure that bookkeeping is efficient and consistent:
- 1. Initial Meeting
- 2. Documents & Set-Up
- 3. Record-Keeping & Follow Up
- 4. Monthly Reporting & Additional Services
We first meet with you to get a better understanding of your business goals and needs. Our team members will walk you through all the services we can provide, working with you to find the most suitable package for your business.
To begin the setup process we will send you a list of required documents to get you started. If your company is brand-new, we'll set up your QuickBooks account and the required software to get the bookkeeping process started. If your business is already established, we can review your bookkeeping practices and set up any new ones that will improve your company's record-keeping.
Following the setup phase, we require all the necessary information to begin the record-keeping process. Then, we'll begin by gathering and posting all the information required to reconcile your bank account(s). We will follow up if there is any missing information.
You will receive a bank reconciliation report and a monthly report once we have completed reconciling all accounts. We start the GST filing, payroll, and forecasting process depending on the needs of the business and the package selected.
Our Services: Bookkeeping & Payroll
Every business is unique, therefore we work hard to understand and adapt to yours so that we can provide you with the bookkeeping services you require, seamlessly integrated with your operations. We work together to guarantee that you always have accurate, timely financial data on hand to make informed decisions, so you can relax knowing that your bookkeeping is taken care of, whether you're at work or on the road.
BOOKKEPING FAQS
We have extensive experience and expertise with various industries. Financial services, professional services, restaurants, construction, retail and service businesses, and manufactured goods are just a few of the industries we work with.
The cost depends on the number of transactions and the complexity of the organisation, which relates to the number of companies; departments, service lines or products; and number of employees, etc. The invoicing will be done on an agreed-upon hourly rate. In our experience, it is far less than having an employee fulfill this role. (took from HP Website)
Absolutely! We work remotely with all of our clients and can hold meetings over the phone or via video chat. We operate remotely using Quickbooks online, but we can also come to your office if necessary.
We use QuickBooks Online or desktop for bookkeeping. If you're not using QuickBooks or if you need to migrate from another platform, we'll get you setup.
If your bookkeeping is behind we can help — whether you're years behind or just a couple of months. Catchup bookkeeping on average takes 1-2 weeks depending on how far behind you are and the average number of transactions per month.
A Bookkeeper You Can Trust
Having access to a professional bookkeeper will assist your small or medium business in keeping proper records. Our bookkeeping and payroll services, as well as our team of experts, can help you save time and money by eliminating the need for a full-time bookkeeper. Our bookkeeping services are focused on providing efficient and accurate financial records to all of our clients while minimizing the cost of hiring a full-time employee. We are located downtown Calgary, however we have the capability and resources of working remotely if you are located outside of Calgary.
Bookkeeping & Payroll Services In A Box
Whether your company is expanding or going through a temporary staffing/financial transition, Hawco Peters and Associates can help you eliminate the stress and costs of hiring a full-time employee. We understand what it takes to run a business and are dedicated to assisting you in growing and succeeding. Contact us today for your confidential consultation at 1-403-829-1933 or fill out the contact form below.