FAQ

A transaction is conducted every time we post an item to your accounting application. For example, if we post a supplier invoice to your accounting application, that is considered one transaction. If a cheque is issued for this invoice, it is considered a second transaction.

The number of employees is determined based on how many people are included in your payroll. For example, If an owner of a corporation is on the payroll then the owner is considered an employee. If the owner is not on payroll, but rather takes a dividend, then the owner is not considered an employee.

Financial accounts include any bank account, credit card and/or other financial accounts in which a reconciliation is required.

Included in your package are the following tax filings:

• HST/GST tax return(s)
• Submitting and remitting payroll to your CRA payroll account
• Tax slips (i.e. T3, T4 and T5) are issued and filed on your behalf

Our hosting methodology makes it possible for us to prepare the cheques for you. It allows you to access the cheques we have created and print them on your local printer.

For every transaction posted, we require proof of this transaction such as a receipt. Every receipt will be scanned to your hosting account. At the end of the year, accounts will be reconciled to the receipt on file to ensure accuracy. If CRA requests any receipt, then all that is required is printing the documents. We will create your own filing cabinet virtually.

At the moment, we are only using Quickbooks and Simply Accounting.

Your monthly fees for our bookkeeping services can be processed through Visa, MasterCard, Amex or any other major credit card. We are working on the following additional payment methods:

• Preauthorized deposits from your bank account
• PayPal

Depending on the type of plan you choose, we will process financial statements based on your business needs. The bigger the business, the greater the need for more frequently issued financial statements.

Sure! We can customize a plan that fits your business needs. The plans outlined are a general guideline for common business structures. For example, if you do not need payroll service but require bookkeeping, we will customize this for you.

Your taxes can be done from wherever you are. We have the IT system in place to accommodate your personal or corporate taxes.

All tax returns are EFILED with CRA. As a general rule, returns are expected to be assessed by CRA within two weeks for individuals. For corporations, this depends on the complexity of the tax return.

Tax returns could range from simple to complex returns for individuals or corporations. Submit a quote via our “Get a Quote” page and we will get back to you with a competitive rate.

Tax service fees can be processed through Visa, MasterCard, Amex or any other major credit card. We are working on the following additional payment methods:

• Preauthorized deposits from your bank account
• PayPal