Bookkeeping Services Vancouver

At WTC Chartered Professional Accountant, our bookkeeping services help businesses in Vancouver manage their finances effectively. From custom packages to technology integration, we ensure accurate financial records and compliance with regulations, so you can make better decisions and be more profitable.

Our Bookkeeping Services in Vancouver

We service a variety of businesses from startups to established companies. Our online services cover various sectors, such as food and beverage, healthcare, technology, construction, recreation, education and more, to ensure your financials are managed for success.

Accounts Receivable Management

Good accounts receivable management is key to maintaining healthy cash flow. Our certified Vancouver bookkeepers record and reconcile all receivables and minimize the risk of overdue invoices. This improves cash flow and gives you financial insights, so you can identify trends and manage outstanding invoices more effectively.

Our accounting firm uses cloud bookkeeping software to manage the accounts receivable process so you have real time access to financial data, charts and reports. This continuous monitoring of outstanding invoices and business financials lets you make informed decisions. Using these tools means your business is financially resilient and operates efficiently.

Accounts Payable Solutions

Effective accounts payable management is vital to financial stability. Our bookkeeping services help Vancouver businesses manage their finances efficiently to ensure you can pay on time and accurately. This prevents late fees and penalties and strengthens the relationships with your suppliers and vendors.

In addition, good accounts payable management can improve cash flow by making sure all financial obligations are paid on time. By outsourcing the A/P to our bookkeepers, you can have better financial management and strategic planning, which allows you to focus on growth and other important aspects of your business.

Payroll Management

Payroll is a critical function that must be handled with precision. Our online payroll services ensure employees are paid accurately and on time to maintain morale and productivity. We also file payroll taxes to be CRA compliant and reduce the risk of penalties.

Our payroll administrators handle all aspects of employee compensation, from calculating wages and source deductions to processing payments and generating pay stubs. This reduces errors and makes payroll processing efficient, giving you peace of mind to focus on growth and customer satisfaction.

Our Online Bookkeeping Services include:

Keep track of and classify financial transactions for Vancouver businesses
Reconciliation of bank and credit card balances
Monthly financial reports (balance sheet and income statement)
Monthly, quarterly, or annual GST/HST returns
Record payroll entries on salaries, wages, and source deduction remittance
Manage accounts payable electronically
Verification of accounts receivable to manage cash flow
Guidance on business profitability and financial performance
Support for CRA tax audits
All-in-one solution for payroll

Financial Reports and Statements

Bookkeeping is the basis of a successful business, starting with accurate and timely reports. The main financial statements are income statements, balance sheets and cash flow statements. Having accurate financial statements is important to understanding and managing your financials as they offer insights to help you make informed decisions.

Income Statements

Income statement, also known as a profit and loss statement, shows a company’s revenues, expenses and profitability over a period of time. It provides insights into sales data, cost categories, and overall earnings so you can analyze the company’s operational profitability. This summary of revenues and expenses gives the business owner a clear view of financial performance.

Balance Sheets

Balance sheet provides a snapshot of a company’s financial position, showing what a company owns and owes. This statement helps the business owner see the company’s stability and overall financial health.

Cash Flow Statements

Cash flow statement tracks the inflow and outflow of cash within a business, giving you insights on liquidity and operational efficiency. This statement is key to maintaining cash availability and managing financial obligations. By understanding cash flow, you can ensure you meet your short-term liabilities.

Benefits of Working With Our Vancouver Bookkeepers

Our online bookkeeping service is more than just keeping your books in order; we are part of your overall business success. Accurate financials and valuable insights allow you to make better financial decisions and increase profitability.

Accurate bookkeeping is essential to having up-to-date financials and supporting informed business decisions. With our Vancouver bookkeeping services, your business will be tax compliant, the financial process will be streamlined, and ultimately improved financial management.

Bookkeeping for Small Businesses

Small businesses in Vancouver have unique financial challenges. Our bookkeeping packages are designed for small businesses to ensure we are meeting your specific needs. We align our services with each client’s goals so you can have precise financial records, accurately managed payroll, and a business that is running efficiently.

Imagine having a dedicated bookkeeper who understands your business inside out, providing you with monthly financial reports and insights to help you make informed business decisions. Our customized bookkeeping services means your financials are always up-to-date, so you can navigate the complexities of growing a business.

Cloud Technology Integration

In today’s digital age, integrating cloud technology into bookkeeping services is no longer a luxury but a necessity. Our Vancouver bookkeepers use powerful cloud bookkeeping software like QuickBooks Online and Xero to ensure your financial data is accurate, accessible and secure. This ensures your financial statements are always up-to-date and available when you need them.

Our technology driven approach means transparency and efficiency, so you can stay on top of your financials without the hassle of manual processes. With technology integration, our bookkeeping services in Vancouver are designed to help you manage your finances, allowing you to focus on growing your business.

Cash Flow Management

Cash flow management is vital to businesses that want to maintain operational efficiency and invest in growth opportunities. Our Vancouver bookkeeping services include preparation of accurate financial statements that provide the insights needed for strategic planning and business decisions. We implement follow up procedures to minimize overdue invoices which helps businesses improve cash flow and liquidity.

Timely follow up on customer payments is crucial to minimize outstanding balances and cash flow. With our Vancouver bookkeeping services, you can manage your expenses and make informed financial decisions to support growth and stability.

What Our Clients Are Saying About Us

We are one of the best in the Vancouver bookkeeping industry. 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?

We have you covered! Arrange a consultation with us today. We will evaluate your accounting needs and give you a complimentary quote when we speak with you.

Behind on Your Books?

We can help you get back on track with our convenient online bookkeeping catch-up services. Your financials will be current and prepared for tax time.

Frequently Asked Questions

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

How do I choose the right bookkeeping partner?

Choosing the right Vancouver bookkeeping partner is critical to your business’s financial management. Look for someone with expensive experience and a proven track record.

Working with experienced bookkeepers means your business finances are managed by qualified professionals. Our certified Vancouver bookkeepers have years of industry experience so you can trust your financials are in good hands.

Also work with a bookkeeping firm that is client centric so financial management is aligned with your business objectives. Personalized bookkeeping service is key to meeting your specific business needs. Collaborating with certified and experienced bookkeepers gives you access to business expert advice and reliable service.

In comparison to accountants, what exactly does a bookkeeper do?

Your company’s financial transactions are processed by a bookkeeper throughout the year to ensure that the books are correct, reconciled, and up-to-date. In contrast, an accountant evaluates financial records to prepare T2 corporate tax returns and financial statements (e.g. Compilation Engagement Report or Notice to Reader) for stakeholders, lenders, or investors.

What is the cost of bookkeeping services in Vancouver?

Bookkeeping services cost in Vancouver varies based on the size of the business and transactions volume. It also varies based on revenue, expenses, and complexity of transactions, therefore you need to consider these factors when budgeting for bookkeeping services.

Is your service billed by the hour?

All fees are fixed and determined upfront so there are no unpleasant surprises. Our team also provides support on all general questions related to our bookkeeping services at no additional cost.

My books are not up-to-date. Where do I begin?

Keeping up with the books is a challenge for many small businesses. But don’t worry, we can help you. We will require past bank statements or existing financial records to evaluate the extent of the catch-up bookkeeping service

Does your bookkeeping service contract have a minimum duration?

Not at all. You can terminate our services with 20 days advance notice. We prefer you to work with us because you value our service rather than tying you to a contract.