Frequently Asked Questions

  • What is the difference between an Accountant and a Bookkeeper?
  • My records are a mess, I’m embarrassed and overwhelmed, where do I start?
  • How can I minimize the cost of bookkeeping and be more efficient?
  • What is included in the bookkeeping package?
  • What are the benefits of using QuickBooks online?

A chartered professional accountant (CPA) is a board certified, highly trained professional who can do your annual corporate tax filing or audit. The Bookkeeper ensures that the day-to-day record-keeping is organized and accurate. The Bookkeeper should know your business in depth in order to apply tax and accounting rules that minimize your tax liability and create accurate reports. At Freestone Associates, we also provide Managerial Accounting which is the interpretation of the numbers to provide managerial advice and direction. The accountant may give you some advice at year end, but a fast-growing business needs to stay on top of the numbers as quickly as possible, to guide decision making and to avoid money bleeds.

Start by calling us. We love a great clean-up! We will turn your situation around and create a bookkeeping system that is efficient and streamlined.

Getting the bookkeeping set-up properly with QuickBooks Online will ensure an efficient system going forward. We can train you to use QBO with minimal effort and then check in on your progress to ensure consistency, completeness, and accuracy. It is often most efficient to have the person who is intricately involved with the transactions be the same person who posts the data because they know what the income and expenditures were for, particularly when there are projects to track.

  • Posting data from bank and credit card accounts
  • Bank and credit card reconciliations
  • Reconciliations of other assets and liabilities
  • HST remittance or Public Service Rebate application
  • Payroll including payroll remittances
  • WSIB filing and remittance
  • Monthly financial reports
  • Valuable advice on how to save money, key performance indicators, issues, and concerns as they arise Peace of mind from reliable and responsive service.
  • Easily access your financial information on any device with an internet browser and an internet connection. This means you can instantly see your inflows and outflows in real time from your desktop, mobile phone, or tablet.
  • Share access to your QuickBooks Online account with your accountant, bookkeeper, and other users via a secure log-in.
  • You will not have to perform backups – QuickBooks Online will take care of it.
  • Bank level security for your business information. Your information will be safely and securely maintained on the QuickBooks server.
  • Integration with 100’s of third-party apps will help make you and your workflow more efficient!
  • It’s easy to use and there are many free tutorials available.