FAQ

Integritybooks is located in Grimsby, Ontario, and we provide services from  GTA to Niagara Falls.

Known as Chartered Accountants (CA's) or Certified Practicing Accountants (CPA's), these professionals are often engaged in the year end accounting tasks of a company's fiscal year. These professionals audit the books, recommend adjustments therein, and prepare the tax filings.

Professional Bookkeepers, on the other hand, handle the day to day accounting tasks of a business such as invoicing customers, paying vendors, bank & credit card reconciliations, filing Quarterly/Monthly HST, Payroll & WSIB remittances. They ensure these transactions are recorded accurately and the books are kept up-to date for the fiscal year end.

No matter how many people are on staff, or what type of product or service it provides, every business needs to maintain a set of books. In smaller companies, this task is often managed by the owner or dropped on the desk of an office manager or even a secretary. The fact you are reading this indicates you realize that is not the best solution, so let's look at the advantages of outsourcing your bookkeeping.

1) Owners, managers, and even wonderful secretaries, rarely fully understand the intricacies of bookkeeping. This can lead to expensive phone calls with the company accountant, or a large bill at the end of the year when that same accountant has to sort out months-old transactions that were incorrectly recorded. Once a bookkeeper knows your system, they can streamline it so that the daily / weekly / monthly transactions are taken care of quickly and accurately.

2) On that note, an experienced professional bookkeeper will know how to deal with most situations (or, if not, they know how to find the solution), and they charge a lot less than a CA or CPA.

3) Another saving is that Integritybooks will attend your place of business only when there is work to be done, which can be as little as a few hours per week, or even each month. With that task taken care of, your staff can concentrate on their main priority of servicing the customer.

4) Your customers are invoiced on time, every time, and receivables are collected in a timely fashion, improving your cash flow.

5) With an improved cash flow, your vendors are paid on time which maintains your company's good reputation.

6) A better cash flow also means there will be less need for loans or the use of your credit line, which translates into fewer interest charges.

7) Accurate monthly reports. Unless you know exactly where you've been, and where you now stand, it is difficult to forecast a company's prospects. It cannot be overemphasized how important reporting is to a business.

8) No employee deductions and remittances. You only pay an outsourced bookkeeper what they invoice for their service. No EI or CPP or benefit plan contributions. In fact, you claim all bookkeeping fees as an expense against your income and payable taxes.

That all depends on the situation, I can either travel to your place of business or arrangements can be made for work to be done at my office in Grimsby. If the latter, we will pick up and return any documentation that cannot be transmitted, at no extra charge, though other required travel and out of pocket expense will be billed for.

For business start-ups, it will take time to setup your books, develop procedures, and train staff. The first couple of months will be the most expensive while your newly-engaged bookkeeper gets a handle on your system. 

For existing businesses, there is often a clean-up / catch-up phase on top of the necessary acclimation period.Once that is done, your bookkeeper will then streamline and schedule the work to get it done in the most cost-effective manner.  If your company does not currently use a payroll service, talk to your bookkeeper about the potential savings, here.

The best question, yet, and thank-you for asking! You can contact Integritybooks directly by phone or email as listed on the Contact page. 

An on-site consultation is FREE and without obligation, and can be arranged Monday to Friday between 9 AM and 5 PM (earlier if necessary).

• Any information collected will be for the sole purpose of doing business with you, and will not be shared.

•  If you do not get an immediate response, Integritybooks will endeavour to contact you as quickly as possible.

• Remember to ask about a discount on QuickBooks® online software.