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Basic Bookkeeping Services

We would be pleased to assist you with any of the following:

  • Bank reconciliations (trust and operating) and report
  • Company payables
  • Aged Accounts Receivable
  • Sales Tax Report
  • Trial Balance
  • Total entries, Income Statement, Balance Sheet, Production Reports
  • RIBO position report

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Do you need a Bookkeeper or an Accountant? - What's the difference?

To ensure proper systems are in place to support the orderly and efficient conduct of business, the safe- guarding of assets,the reliability of accounting records and the timely preparation of reliable financial information, it is important to understand the difference between a bookkeeper and an accountant.

Generally, bookkeepers perform data entering tasks or record transactions, entering bills from vendors, paying bills, processing payroll data, and mailing statements to customers. The tasks of a bookkeeper form part of the accounting process.

In comparison, accountants reconcile key balances including trust and general bank accounts, aged premium receivables and insurer payables. They prepare adjusting entries to record expenses that occurred but are not yet entered by the bookkeeper. (Examples include interest on bank loans since the last loan payment, wages earned by employees that will be processed the next week, etc.) Other adjustments to accounts include the calculation and recording of depreciation and establishing allowances for uncollectible accounts. After making adjusting entries, accountants typically prepare company financial statements (income statement, balance sheet, statement of cash flows and management reports)and assist management to understand the financial impact of the company's past and future decisions.

Sometimes individuals mistake bookkeepers for accountants. Your external accountant can assist you in advising whether your accounting systems are properly maintained by staff or sub-contractors who have both bookkeeping and accounting knowledge.