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Why Should I Hire an Accounting Firm?
Hiring an accounting firm can provide numerous advantages for your business. They can save you time managing finances, provide expert guidance, and ensure compliance with tax laws to avoid penalties. By engaging with an accounting firm, you can have more peace of mind and focus on developing your business. When considering online accounting services for your business, remember to consider the budget, support services offered, and ease of navigation, and research which is best suited for your needs.
What is the Best Online Accounting Service for Startups?
We understand how challenging it can be for startups to find the best online accounting service that fits their needs and budget. We recommend considering several factors, including your budget, the level of support needed, and ease of use. As a reputable accounting firm, we suggest exploring popular options like our cloud accounting services which use progressive software such as QBO,Xero, and Wave, which offer comprehensive bookkeeping, and financial reporting features.
We encourage you to research each option and determine which suits your unique startup venture best. At Accountrix, we are always here to support and guide you in making the right decision for your business.
What Information is needed to obtain a quote for service?
We aim to provide accurate quotes and avoid surprises for both sides. The initial information that we will request is:
- Description of your business, how many years you have been in operation, year end date.
- Existing ledger set-up and details. If you are already set up in a cloud based environment, you can give us access as collaborators to get the information ourselves; we are happy to sign a non-Disclosure Agreement prior to the information being released to us.
- Total number of bank accounts; volume of transactions per month (max and average for historical months and expected for the future); currencies.
- Payroll set up: Number of employees (current and forecasted in the next year), type of earnings and deductions, pay period schedule, any other relevant information.
- Schedule for HST remittances
- Volume of Accounts Receivable and Payable per month
What will the quote be comprised of and how does your pricing work?
We operate on a flat monthly fee structure billed on the 1st business day of the month. The monthly fee will include the services and reimbursement of expenses for payroll processing, file storage, accounting application (as per the pricing package), and any other applications you would like to set you up in; additionally, an onboarding fee will apply for the first billing.
Any services outside of the scope of work (special projects, year end related services), will be billed additionally on an hourly basis; if your company grows faster than anticipated, we will revise the initial quote. We won’t incur in additional service charges or increase your base fee without your approval.