GURU, our virtual bookkeeping system, is an efficient and cost-effective solution for businesses looking to streamline their accounting function without the need for an in-house team. Our GURU team remotely manages your financial records using cloud-based software, ensuring accessibility and security.
GURU by Achen Henderson CPAs is your tailored virtual bookkeeping service that provides personalized support and expertise, allowing you to focus on what you do best—running your business. With a keen eye on accuracy, efficiency, and compliance, our team’s commitment to your business is one of the many reasons small businesses trust us with their financial needs.
How GURU’s online bookkeeping services can help
We set your cloud-based bookkeeping system to send us as much data as possible with minimal effort from you. We will map out the regular tasks that still require your team’s involvement, and make sure you know exactly what we need form you to ensure clean books and records. You may have to send us statements, snap pictures of receipts, or send bills and invoices to a custom email address that we setup for you. We take the ambiguity out of your company’s accounting controls.
We set up the books based on the individual business, giving your team guidance on which items need to be categorized or explained in more detail and which don’t matter. AS long as your team responds to our request within the agreed timelines, we’ll make sure your books are up to date and accurate.
You’ll finally have real-time information at your fingertips so you can make informed financial decisions throughout the year.
We’ll also prepare and file your:
- T5 Summary and slips (with a reconciliation of slips to owner’s draw)
- T4 Summary and slips
- T4A Summary and slips
- T5018 subcontractor slips / T4A slips
- GST returns
- Alberta Annual Return
- WCB return
Why great bookkeeping matters
Your books are a record of your company’s financial and non-financial life. Poor, sloppy bookkeeping can have a negative impact on your business in many ways:
- Paying more taxes than necessary
- Cash flow problems
- Penalties and interest on payroll, GST, and other remittances
- Poor business decisions based on incorrect information
- CRA reviews and audits
- Increased year end preparation fees because the accountant needs to rectify your books
A good accountant can’t do effective work based on shoddy books. In the past, we’ve often had to spend a lot of time fixing clients’ books before we could prepare their financial statements or tax returns. This is costly for our client, who has already paid the bookkeeper for what we now have to fix, and it is an ineffective use of everyone’s time.
Today we simply manage the bookkeeping for our clients so there are no issues with the books; they are always up to date and accurate. This makes our clients’ lives much easier, saves them money, and allows us to quickly deliver the information they need when they are faced with a business decision.
What Goes Wrong with Bookkeeping
There isn’t one single right way to do bookkeeping. How your books are kept needs to be based on what information you need to make good decisions for your business. A good bookkeeper works with you to understand how you and your business work and what information is needed. A good bookkeeper also has a strong understanding of accounting and of your accounting policies and procedures, and is able to effectively manage your cash flow.
Things go wrong when business owners don’t value bookkeeping and hire someone who doesn’t invest the time and effort into understanding their unique business and information requirements. All of your accounting is based on bookkeeping. Paying for a top-notch bookkeeper is one of the best investments you can make in the success of your business.
What to Look For in a Bookkeeper
Many business owners think all bookkeeping is the same and are unable to tell a good bookkeeper from a poor one. Here are a few things to look for to determine whether your bookkeeper is working for you:
- Your bookkeeper asks a lot of questions. Great! You’ve got a good bookkeeper. It may be a pain to have to answer questions, but if your bookkeeper doesn’t ask questions, you’ve got a problem, because your accountants are going to ask them at your year-end. And your accountants will charge you more.
- Your bookkeeper refrains from offering tax advice. In general, bookkeepers are not tax experts and should not be advising you on matters related to tax.
- Your bookkeeper embraces automation. We’re living in the 21st century with a lot of technology at our fingertips. Using it can reduce the cost of bookkeeping or give you more value for your money. For example, rather than keeping all of your receipts in a shoebox to bring to your accountant, technology allows you to snap a photo of the receipt and you’re done. Easy as that.
- Your books are always up to date, allowing you to make timely decisions.
- There are very few adjusting entries at the end of the year. This indicates that the accountant spent minimal time fixing the books.
Why companies choose our virtual bookkeeping services
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Expertise in Virtual Bookkeeping: With years of experience in virtual bookkeeping, our GURU team understands the unique challenges small businesses face. Our team is well-versed in cloud-based accounting platforms like QuickBooks Online, Xero, Hubdoc, and Dext. We have loads of experience designing and implementing effective cloud-based accounting systems, and in coaching small business owners on how to ensure their effectiveness.
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Customized Solutions: We tailor our virtual bookkeeping services to each client’s individual requirements. Whether it’s offering fractional CFO services like cash flow management and forecasting, reconciling bank statements, or providing detailed financial reports, we adapt our approach to suit your business’s needs.
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Cost-Effective and Time-Saving: By outsourcing your bookkeeping to us, you can save time and money that would otherwise be spent on hiring and training in-house staff. This allows you to focus on core business activities while having peace of mind that your financial records are in expert hands.
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Real. Life. Proof: We put our money where our mouth is, and listen to our customers. You don’t have to take our word for it, find out what real customers think about our service.
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Expert tax compliance: Our customers get the benefit of having one of the best tax teams in the country. Our GURU team and Compliance teams work hand in hand to make sure that your books are up-to-date, accurate and that your family is paying the least amount of tax possible. This commitment to collaboration and precision gives you confidence in your financial data for decision-making.
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Accessible Support: Our team is always available to answer questions and provide support when you need it. Whether it’s clarifying a financial report or guiding you through the use of accounting software, we’re here to help.
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Scalable Solutions: As your business grows, our GURU virtual bookkeeping services can scale with you. Whether you’re a startup or an established small business, we can adapt our services to match your changing needs.