Bookkeeping Victoria BC

Looking for bookkeeping in Victoria, BC? By choosing the right bookkeeper, you can ensure your business is ready for proper financial management. At WTC Chartered Professional Accountant, our bookkeeping service is not just about keeping books in order; we will help you set up your business for long-term success.

Bookkeeping Services in Victoria BC

Our online bookkeeping services in Victoria, British Columbia cater to various needs, from corporate bookkeeping and payroll to GST/HST preparation. Whether the situation is simple or complex, we will manage all aspects of your business finances effectively.

Outsourcing bookkeeping saves you time so you can focus on growing your business. Our bookkeepers will handle the paperwork and financial records so you can work on strategic planning, business development, and be more productive with the business operation.

When you work with us, our onboarding process is incredibly quick and seamless. It is usually done within a week of signing a contract, so you can start benefiting almost immediately. We have experienced bookkeepers that will manage everything from receipts to payroll administration, and prepare accurate financial statements each month that give you financial clarity. Our bookkeeping in Victoria is designed for small to mid-sized businesses through our accounting services.

Financial Reporting for Informed Decision-Making

Our monthly financial reporting is vital to understanding your business financial health. Financial data gives you the information to make informed decisions, adapt to changes and plan financially for the future.

Our bookkeeping Victoria BC provides clarity on profitability and growth trends of the business to help you set realistic business goals. Having a deep understanding of a company’s finances gives you the power to make strategic decisions that will drive success. We prepare monthly financial reports to help you identify issues early so you can address them before they escalate.

Interpreting the financial statements effectively requires knowing your business financial needs and goals. Our bookkeepers have the expertise to produce accurate and meaningful reports so you can rely on the information to make wise decisions for long-term success.

Tailored Solutions for Your Business

Every business has unique financial requirements. In Victoria BC, our online bookkeeping service covers small to medium size businesses, providing custom financial reports tailored to specific industry requirements. This will ensure you make decisions based on relevant and useful information.

We take the time to understand our client’s needs and customize our bookkeeping solution to their business in Victoria. Our services aim to align with specific business needs, avoid foreseeable financial challenges, and ensure bookkeeping is done efficiently.

Organized financial record is key to running a smooth business operation. Our accounting firm offers customized bookkeeping solutions so your records are easily accessible and always up-to-date.

Regular communication with our bookkeeper will keep you informed of your financial situation so you can respond quickly to any issues. The back office services and support that our team provides are what sets us apart and makes us valuable to your small business.

Payroll Services You Can Count On

Effective payroll management is crucial to your company’s financial health. Our bookkeepers will ensure accurate and timely employee payments to maintain employee satisfaction and productivity. We’ll also process hours for statutory holidays and employment benefits, preparing Records of Employment, and issue T4 slips.

We know that payroll can be complex and time-consuming, but our bookkeepers are experts in streamlining the process. We’ll make sure your business is compliant with payroll regulations, so you can focus on other parts of your business with confidence knowing that your employees are paid accurately.

Expertise in Tax Preparation

Tax preparation and filing can be overwhelming, but our bookkeepers make tax prep manageable. Our accounting firm will organize financial records to make the process less stressful, minimize errors, and have the necessary documents readily available.

Compliance with CRA regulation is crucial for taxation. Proper bookkeeping avoids potential tax issues by having all financial transactions recorded and reported accurately. This will reduce the risk of penalties from late or inaccurate tax filings.

Our professional bookkeepers prepare and file sales tax GST, PST, and RST returns to comply with all sales taxes regulations. If required, we also have accountants who can assist with corporate tax return and personal tax return during tax season.

Our Online Bookkeeping Services include:

Record and categorize transactions for businesses in Victoria, BC
Bank account and credit card balance reconciliation
Monthly financial statements (income statement and balance sheet)
GST, PST, and HST returns filed annually, quarterly, or monthly
Maintain payroll records on salaries, wages, and CRA remittances
Paperless accounts payable management
Control cash flow by monitoring accounts receivable
Advice on financial performance and profitability analysis of business
Assist with tax audit, CRA representation, and resolve tax disputes
Payroll management from start to finish

Why Professional Bookkeeping Matters

Professional bookkeeping is key to any small business wanting to succeed. Accurate record keeping by experienced bookkeepers maximizes tax benefits and compliance with tax regulations to mitigate penalties and interest.

Access to accurate financial information helps make informed business decisions. Our bookkeeping services provide relevant data to evaluate a company’s financial health, plan for the future, and adapt to market changes so you can grow sustainably over a long period of time.

Effective cash flow management is another important aspect to running a successful business in Victoria BC. Our bookkeeper helps businesses review cash flow regularly to ensure sufficient resources are available for business operations and growth opportunities. Our custom solutions are especially beneficial for small and medium size businesses.

Leveraging Technology for Efficient Bookkeeping

Using technology for bookkeeping makes it more efficient and accurate. Our online bookkeeping services in Greater Victoria use cloud-based software like Xero and QuickBooks Online, and Sage 50 (formerly Simply Accounting) to simplify financial tasks, save time, and reduce human error so you have accurate and up-to-date financial records.

We integrate bookkeeping software to banking systems so transaction feeds are downloaded to facilitate record keeping and bank reconciliation. We can introduce applicable mobile apps for bookkeeping for features like expense tracking and receipt scanning so you can manage your finances on the go.

Our firm promotes continuous training on accounting software to stay efficient and effective with our bookkeeping services. Our bookkeepers are up-to-date with the latest accounting technology to ensure we provide high quality services. We use technology in bookkeeping to give you a competitive edge, whether your business prefers traditional or modern solutions.

What Our Clients Are Saying About Us

We’re ocne of the top bookkeeping firms in Victoria BC. But don’t just take our word, here are a few testimonials from some of our clients:

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’re one of the top bookkeeping firms in Victoria BC. But don’t just take our word, here are a few testimonials from some of our clients:

Behind on Your Books?

With our bookkeeping catch-up services, we will ensure you get back on track. Your financial records will be updated and ready for tax filing.

Frequently Asked Questions

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

How to choose the right bookkeeper in Victoria BC?

Choosing the right bookkeeper in Victoria, BC is important. Look for professional qualifications and certifications such as a CPA, which means the service provider is highly experienced and can handle your financial needs properly.

Assess the bookkeeper’s experience in your industry as different industries have different bookkeeping needs. A bookkeeper with experience in your industry will better understand and meet those needs better. Highly communicative bookkeeper is also important to staying informed of your financial situation.

In addition, consider if the bookkeeper offers additional accounting services like tax preparation, payroll management, and financial reporting so you get more value and all your financial needs are covered by a single provider.

What are the benefits of professional bookkeeping services?

Using professional bookkeeping services in Victoria BC is a smart choice to maximize your tax benefits, save money, and comply with regulations. With accurate financial information and effective cash flow management, you can focus on your operation.

How does technology help with bookkeeping?

Technology increases bookkeeping efficiency by simplifying financial tasks and processes like bank reconciliation and expense tracking. Embrace cloud-based software to streamline your financial management and save valuable time!

How much does bookkeeping in Victoria cost?

Bookkeeping services in Victoria BC cost varies depending on the industry, number of transactions, and size of the company. Other factors like revenue, expenses and complexity of transactions also affect the cost to hire a bookkeeper.

I need to get my books updated. Where do I start?

Many businesses in Canada find it hard to keep up with the books. But don’t worry, we’re here to help. Send us the previous month’s bank statements or internal financial records and we’ll assess the overall scope of the bookkeeping catch-up services.

How is a bookkeeper different from an accountant?

A bookkeeper records the company’s financial transactions to ensure the books are accurate, balanced, and updated. On the other hand, an accountant reviews the financial records to produce the corporate tax return (T2) and year-end financial statements (e.g. Notice to Reader or Compilation Engagement Report) for investors, lenders and other stakeholders.