The world of online selling takes a real commitment to be successful and sustainable.
We understand your challenges and work with you to ensure the money aspect
of your business is taken care of.
As the number of e-commerce and online shop grows, there are unique challenges these business must deal with and Bird’s-Eye Accounting is familiar with them.
Considerations that include finding generating targeted traffic, capturing quality leads, finding loyal customers, nurturing ideal customers, conversion of visiting persons into paying customers, security, delivery of goods and services in a profitable way, sustaining the business – to name only a few.
As most online business owners work from home, they have additional considerations regarding time management and privacy.
We have worked with a variety of online shops and have experienced first-hand the challenges and the rewards that can be realized with this method of conducting business.
Your 3 Unique Needs:
- Mobility – as an online business, you likely prefer to have your services remote as well. We offer online services that are supplemented by phone calls and the occasional face-to-face meeting, as needed.
- Bookkeeping – the demands of an online shop are numerous. Don’t waste your time trying to deal with your bookkeeping. We will take care of it regularly and completely.
- Expenses & Costs – it can be confusing to know what expenses and costs are deductible for tax purposes with your online enterprise. We will take care of and help you to make the appropriate judgement calls.
We offer tax planning and preparation services that will commensurate with your business goals.
- Tax preparation services that will allow you to feel confident about the filings that you make to the federal and provincial tax authorities.
- Tax planning initiatives that will work to integrate and minimize the tax that you pay both personally and in your business.
Contact us to for make your online shop a success – Click Here
We offer a complimentary initial phone consultation.
Bookkeeping & Accounting:
Most e-commerce firms prefer to have everything online as it is part of their way of conducting business. Therefore, we offer full online bookkeeping and accounting services to them. We use Quickbooks Online or Sage Accounting online for this purpose. It provides the maximum in flexibility and convenience for online business enterprises.
We offer full-cycle bookkeeping and accounting services that includes, but are not limited to:
- Payroll processing
- Processing employee timesheets
- Processing employee expenses
- Calculation of monthly payroll remittances to Canada Revenue Agency
- Monthly bank reconciliations
- Monthly credit card reconciliations
- Monthly invoicing and time billing of clients
- Posting client payments and deposits
- Processing and management of accounts payable
- Processing and management of accounts receivable
- Calculation of monthly or quarterly GST and remittance of amounts to Canada Revenue Agency
- Monitoring accounts receivable for delinquent accounts
- Bad debt management
- Monthly corporate tax installment to Canada Revenue Agency (if applicable)
- Creation and entry of journal entries
- Processing of vendor payments
- Posting and monitoring work in progress
- Generating monthly financial statements of balance sheet and profit/loss statements
- General Ledger maintenance
- Preparation of year-end file to submit to tax preparers and tax planning professionals
- Special circumstances
- Monthly stay-on-track meetings to monitor company progress, remit payments to Canada Revenue Agency and discuss any company items
- Establishing office procedures, bad debt collections or other related policies
- Quickbooks & Sage software expertise
- Review of budget procedures
- Review of job costing
- Review of financial statements
- Fiscal year-end review and questions
- Liaison with tax planning and preparation advisors for fiscal year-end and during personal tax time.