Bookkeeping Services Calgary

Working with a professional bookkeeper builds the foundation for business success. By partnering with WTC Chartered Professional Accountant, we will take care of your bookkeeping so you can focus on your business.

Our Bookkeeping Services in Calgary

Our bookkeeping services help Calgary businesses focus on growth by keeping your financials up-to-date and accurate. These services include recording daily transactions via monthly bookkeeping, processing receipts, track expenses to maximize write offs, financial statements preparation, account reconciliation, accounts receivable and accounts payable management, and payroll services. Accurate financials get your business on track to achieving your goals.

Our online bookkeeping solutions are customized to fit your financial goals and budgets. We conduct regular reviews to ensure our bookkeeping services keep up with your business needs. This detailed and personalized attention will help you drive business growth.

In addition, our Calgary bookkeeping services include the expertise of Chartered Professional Accountants (CPA) and other financial experts to ensure you get all-around support. We use cloud accounting software such as Quickbooks Online to accelerate transaction recording and streamline your financial management.

Accounts Receivable and Accounts Payable Management

Managing accounts receivable and accounts payable is key to maintaining cash flow and overall business health. Accounts receivable is money owed by customers for goods or services purchased on credit. If not managed properly, it can significantly impact cash flow.

Getting customers to pay on time is crucial. Late payments can create cash flow challenges and make it hard for you to pay your operating expenses. We can assist with managing accounts receivable effectively to ensure timely payments, which is critical for financial stability.

On the other hand, managing accounts payable means keeping track of money owed to suppliers. Making payments on time avoids late fees and it helps maintain good relationships with vendors. We can help your business manage both accounts receivable and accounts payable to ensure your business is running smoothly.

Payroll Services

Managing payroll by yourself can be time consuming. Our online bookkeeping services also include payroll management to make this process seamless. We manage payroll processing and time tracking so you don’t have to process payroll manually to reduce your administrative burden and increase efficiency.

Eliminating errors in payroll is crucial. Incorrect employee payments can cause significant stress for Calgary businesses, not to mention payroll compliance issues. Our streamlined payroll services ensure employees are paid correctly and on time, which is critical to a positive work environment.

Monthly Bookkeeping for Financial Consistency

We offer monthly bookkeeping to keep your business financials up-to-date so that you are getting timely insights into your business performance. We monitor your company’s income and expenses continually to improve financial management and stability.

Having current financials at your fingertips helps you make informed decisions and set realistic business goals. Our monthly bookkeeping provides the foundation for financial forecasting and planning, which is important for business growth and success. We would also monitor your business financial health to ensure you’re always on track. This proactive approach helps identify issues early on, so you can act timely and better manage your finances.

Our Online Bookkeeping Services in Calgary include:

Maintain financial records and classify transactions
Reconciliation of bank and credit card balances
Monthly financial reports (Balance Sheet and Income Statement)
File GST/HST return based on the required frequency
Record payroll journals on employee pay and tax remittance
Manage accounts payable
Verify accounts receivable to manage cash flow
Guidance on business profitability and financial performance
Support for CRA tax audits
Payroll services from start to finish

Benefits of Working With Our Calgary Bookkeeper

Our Calgary bookkeeping services provide small business support through accurate record keeping and regular performance review. We understand that accurate financial reporting is key to making informed business decisions, and we have combined that cloud accounting software to streamline the financial process.

Customized Solutions for Small Businesses

At WTC Chartered Professional Accountant, our online bookkeeping team offers customized bookkeeping solutions to meet the financial needs of small businesses in Calgary. We streamline bookkeeping processes to address your business needs, and we provide proactive services with insightful analysis and strategic advice to help your business grow. Our financial reporting gives you the information you need to make informed decisions so you have the information you need to move your business forward.

Our experienced Calgary bookkeeper is committed to helping small businesses succeed. We work closely with small business owners to align our small business bookkeeping services with their goals, so they can manage their finances with confidence.

Financial Analysis for Business Performance

Our Calgary bookkeepers provide business performance insights through detailed reporting and analysis. Access to current financials helps small businesses make informed strategic decisions. We provide detailed financial reports so you can make better business decisions to drive growth and success.

Our strategic financial management through bookkeeping helps you identify areas for resource optimization and profitability. The financial analysis involves reviewing financial statements to identify trends and areas for improvement, and lays the foundation for financial transactions forecasting and planning.

Cloud Accounting Software for Efficiency

In today’s digital age, using cloud accounting software is a game-changer for efficiency. QuickBooks Online, for example, allows users to access their accounts remotely from any web browser, enhancing mobility and convenience. This means you can manage your business finances from anywhere, at any time.

Our firm uses cloud accounting software to provide collaborative access to financial data so we can work together easily. There’s no need for local software management, since updates and upgrades are done automatically. This simplifies the process and you always have the latest features at your fingertips.

In addition, we streamline data entry by downloading bank and credit card transactions on a regular basis. This saves time and reduces errors so your financial records are always up to date.

Avoid Late Filing Penalties

Working with our bookkeeper can lead to long-term cost savings by avoiding financial mistakes. Effective bookkeeping helps you manage your business finances, so tax documents can be filed on time. This is key to meeting tax obligations and avoiding late filing penalties.

Keeping proper records up-to-date is important to finding documents and preparing for tax returns. We can help you stay on top of financial records to ensure compliance with tax laws, saving you money and stress.

Why Accurate Financial Reporting Matters

Accurate financial reporting is the foundation of a successful business. You can track performance and make informed decisions based on reliable financial data. It’s not just about keeping your books in order; it’s about understanding your business finances and using it to guide your decisions.

Compliance with regulatory requirements is another important part of financial reporting. Keeping financial records accurate reduces the risk of penalties and other financial risks associated with non-compliance. Financial information helps develop key performance indicators for strategic growth decisions.

Financial reporting also helps with risk identification, so businesses can implement risk mitigation strategies. With up-to-date financial records, businesses can spot potential issues and address them before they get worse. This proactive approach to financial management is key to sustaining long-term business success.

What Our Clients Are Saying About Us

We offer some of the best online bookkeeping and accounting services in Calgary. But don’t just take our word for it, here is what some of our clients have to say:

I love the online approach that William and his team implements. It makes the process extremely easy. The deliverables are always on time. The tax advice we got are very helpful and practical. The team is always there whenever we have a question. Excellent work!

William is very knowledgeable in the e-commerce space. He educated me on the sales tax requirement for selling to different provinces and he also helped the company set up the backend system so that the accounting system, inventory system, Amazon, and Shopify are synchronized. Highly recommended for anyone looking for a modern-day accountant that works well with technology.

It's been a wonderful experience with William, who has sound knowledge of tax regulations and helped my business set up a structure to minimizes tax. His team is well proficient in handling both bookkeeping and payroll process. I am a satified with their work and highly recommended.

Whenever we have an accounting or a tax question, William was there to answer them. His advice helped us save a tremendous amount of taxes each year. He is also looking after the company’s books and has been keeping us up-to-date on the company’s performance each month. Excellent work!

William Chong is fantastic. I have had many other accountants in the past, but nobody has done such a great job. Very efficient, knowledgeable, responsive, and his fee is very fair. I highly recommend his company. Thank you William for your outstanding service!

I am very pleased with and highly recommend the accounting and consulting services WTC has offered. William manages my taxes, financial statements and corporate filings so that I can have peace of mind to concentrate on my other aspects of my business. He also provided me with invaluable, actionable advice on methods to streamline and expand my business.

The team at WTC did an amazing job helping my online business set up everything I need. Mohamed and William helped me incorporate my business, set up payroll and did the bookkeeping and year-end tax return. I recommend WTC Chartered Professional Accountant to anyone who needs an accountant to help set up their business.

Need Bookkeeping Support?

Don’t worry, we’re here to help! Please reach out to us to schedule a consultation. we’ll assess your bookkeeping requirements and give you a free estimate.

Behind on Your Books?

Getting caught up is easy with our bookkeeping catch up solution. Your financial records will be updated and reconciled for tax return filing.

Frequently Asked Questions

Here’s a list of commonly asked questions about our bookkeeping services in Calgary.

Why is it important to hire professional bookkeepers?

Professional bookkeepers are more than just service providers; they are your business partners. Good communication with your bookkeeping service providers means a partnership to achieve your business goals. Professional bookkeepers save business owners time, so you can focus on the core business activities.

Customized bookkeeping and accounting services simplify the process and ensure month-end closings are done on time, so you can have accurate financial records. Professional bookkeepers also bring expertise and experience to the table so businesses can navigate financial management with ease.

Partnering with bookkeeping firms like WTC Chartered Professional Accountant means your business financial records are managed so you can focus on your strengths in running the business.

What is the distinction between an accountant and a bookkeeper?

Bookkeepers handle the company’s financial transactions to ensure that the books are correct, reconciled, and updated. Accountants evaluate financial records to prepare the Notice to Reader financial statements for year-end (Compilation Engagement Report) and prepare the for corporate tax return (T2).

What is the cost of bookkeeping services?

Factors such as transaction volume, complexity, and industry all impact the overall cost. Reach out to us for a personalized quote on your bookkeeping requirements.

Do you charge based on an hourly rate?

We don’t bill by the hour. All fees are set upfront and there are no unexpected costs. If you have any general questions about the financial records, our support team is here to support you at no extra charge.

I haven't completed my books yet. How should I proceed?

We can assist you in getting back on track, just like how we helped our clients. We’ll need past bank statements or current financial records to assess the extent of the service.

Is your bookkeeping service subject to a minimum contract term?

You’re free to cancel our service with 20 days advance notice. We want you to stick around because you value our service and not because we’ve tied you to a contract.