Frequently Asked Questions
What is the purpose and difference between bookkeeping and accounting?
In the simplest of terms, bookkeeping is responsible for the recording of financial transactions whereas accounting is responsible for interpreting, classifying, analyzing, reporting, and summarizing the financial data.
What kind of reports do I get?
Usually a balance sheet & profit & loss as well as other reports based on your needs.
How do you ensure that my files and data are completely secure?
We follow a completely secure process to ensure that none of your documents or confidential data is published, disclosed, distributed, or sold. Your financial data is secure with us.
What is your pricing structure?
Our hourly or monthly rates vary depending on volume and project complexity. Monthly billing is a preferred method as it serves the client from a budget perspective.
Is a retainer required?
We require a retainer equal to at least one month’s billing value, by cheque or e-transfer.
How is payment made?
We accept credit cards, postdated cheques, or e-transfers payable on the 15th of each month.
Are there any additional (hidden) charges?
We do charge for value-added tasks. These value-added tasks vary and depend on your business and will be discussed at the first consultation.
How skilled is our accounting team?
We employ individuals who have a certificate or diploma in bookkeeping or accounting in addition to work experience.
What kind of customers do you provide services to?
We provide bookkeeping services to a range of small and medium-size sole proprietors and limited companies in a variety of industries.
What if I want to do the record-keeping myself?
We train clients on Quickbooks and Sage allowing the owner/staff to maintain the accounting themselves in the software. We recommend that we “check-in” on your files periodically to make sure things are being entered consistently and accurately so there are no surprises at year-end.
How many hours will it take to complete my bookkeeping?
This will depend on the volume and complexity of the company file.
How do I know what expenses I can write off?
We are well versed in what is an allowable deductible expense and will guide you accordingly.
How often do your prices increase?
There is an annual marginal increase at the anniversary (fiscal year) of your business.
What is a value-added task?
A CRA audit, increased source documents due to exponential business growth, and any new item outside of the scope of regular monthly bookkeeping. Recent example Covid claims.
It’s Accruel world out there, let us be your guide
Liquidity Bookkeeping can help you manage your finances and provide bookkeeping/accounting services to your company. Weekly, monthly, quarterly, or yearly services available for your small and mid-size business.
Save Money
Your business will be able to save on overhead cost. You can save on office space and have little management supervision.
Alleviate Stress
Our competent staff will always try to improve your processes and make your business more efficient.
Save Time
We will take care of your accounting and bookkeeping while you are focusing on the core of your business.
Contact Us Today
If you need more information or want to work with us straight away, please give us a call or send us an e-mail. We will be glad to assist!
Hours
Monday – Thursday: 9AM – 4 PM
(By Appointment Only)
Friday – Sunday & Holidays: CLOSED
Contacts
liquiditybookkeepinginc@gmail.com
778-908-8087