The bookkeeping business process - ►"How we do it"

Business information envelopes are received from our clients at our Markham, Ontario office, and transferred to our secure document and data management center.

These envelopes are stamped with the received date and assigned to the bookkeeping clerk designated to handling the document preparation and bookkeeping processing function.

The clerk begins by opening the assigned envelopes and removing the business papers.  These are then sorted into bundles of GL Chart-of-Account numbers.  These bundles are stapled by chart of account and counted individually and the bundle totals and the chart-of-account numbers are noted on the bundles.  

The clerk then enters this document inventory summary information into the document management section of the client bookkeeping system.

Next the clerk proceeds to enter the business information into the client’s bookkeeping GL account. After the data is entered, an audit report is printed and reviewed by the bookkeeping supervisor. 

This review includes a comparison of expense categories with prior months and the percentage of gross revenue relationship. 

Next the GST/HST audit file report is reviewed as well as the break-even analysis and cash flow report.

After the review, the original source documents are stamped as processed. The documents are placed back into the original enveloped from which they were received, sealed and the envelope is stamped with our document processed stamp, dated and placed in our processed document storage cabinet.

If this is the end of the business quarter, a quarterly Profit/Loss statement including an operating analysis report and a copy of the GST/HST return filed if client is on quarterly filing, are sent by email to the client.

At the business 3^rd quarter, we give clients a quick view of their potential tax status come year end, by creating and sending a tax liability projection report of the potential business profit/loss status with recommendations.

In addition, at the business 3rd quarter, to get you ready for the business year-end, corporation and personal tax preparation, we send clients a personal tax planning information report and a corporation tax planning report for review as well as a year-end balance sheet verification form, with recommendations if applicable and/or request for you to call us.

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