Bookkeeping Grande Prairie

 For Small Businesses and Service Based Businesses

Cover Your Assets Books and Taxes offers a wide variety of services.  We offer personalized pricing for each business and client.  Our extensive list of services are available for all business types and pricing is quoted based on both client needs and wants.

We strive to assist local businesses and residents grow wealth through sound financial advice and guidance.  We are sought out by family businesses in all major and minor industries.  We serve businesses across multiple business sectors.  

We specialize in agriculture, oilfield services and tradesmen.  We also specialize in construction, but we do have clients in retail and restaurants.  

We won't turn away a client regardless of industry or sector.  We provide service with professionalism, a personalized approach and open communication.  We provide diligent, timely, and accurate services.

Bookkeeping Grande Prairie provides full-cycle services as well as advanced services.  Serving businesses in and around the Grande Prairie and Sexsmith area.  Entrepreneurial spirit runs through our veins.  

We love bookkeeping for start-ups.  We enjoy celebrating all events and victories with our clients whether big or small.  Your success is our success.  With sound bookkeeping services, and financial advice as your business grows, there is no end to the possibilities for your business.

Bookkeeping Grande Prairie

Bookkeeping Services Grande Prairie

With so many bookkeeping grande prairie services and possibilities it can be hard to decide what you need, and what you want.  We try to break down all the services we offer, and when you ask for a quote, there is going to be alot of questions.  We want to know not only what you need for services, but what your goals are for your business.  That way we can forge a realistic path ahead through services.  Whether you need basic bookkeeping services, advanced services to track cash flow, or tax saving strategies, we have services for you.

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Bookkeeping and Accounting Software

Xero Bookkeeping, QuickBooks Bookkeeping, Quickbooks Payroll, Wagepoint Payroll, Dext and TaxDome.  These are the software platforms that we use.  While we prefer Xero and Quickbooks for bookkeeping we will use other platforms if necessary at an additional cost.  

Why do we prefer Xero and QuickBooks?  We are Xero Advisor Certified and Quickbooks Advanced ProAdvisor Certified.  We have taken the time and made the effort to learn these programs inside and out.  We have also found QuickBooks and Xero to be more user-friendly for our clients who choose to participate in the bookkeeping process.

As advisors for both products, we can also get our clients a discount on these programs.  We make sure that your bookkeeping and accounting software is set up in a proper manner for your business.  If you want to do some of the bookkeeping yourself, we can train you how to use the software if you need that service.

Bookkeeping and Accounting

Weekly, Bi weekly, monthly and quarterly bookkeeping and accounting.  We provide quotes based on both company needs and want.  When we provide a quote we typically provide 3 options.  

We base quotes on the company size, revenue, amount of transactions and amount of reconciliation.  We can then look at advanced services if you choose as add-ons.  For clients that choose to use Dext, there is a discount due to reduced time and workload.  

Quotes are provided both as base rates and with add-ons of your choosing.  Each business is different, so each package should also reflect that.  Packages are built as unique as the business using it.

Accounts Payable and Accounts Receivable

Accounts Receivable (invoicing) and Accounts Payable (paying bills).  Maintenance of all payable and receivable accounts.  

This can include accounts receivable collection efforts on your behalf should you require this service.  We will contact your clients with collection efforts if they are behind on payment.  

We do our best to ensure YOU are getting paid, and your bills are getting paid on time.  This can include other software integrations for both bill pay and invoicing.

Recording and Verification

Invoice and receipt verification, classification and recording in your bookkeeping and accounting software.  We ensure that your bookkeeping is set up correctly.  We classify, verify and record all transactions.  Ensuring that income and expenses are reported properly.  

If we have questions about your Bookkeeping Services Grande Prairie, we ask.  If we have questions about transactions, we ask.  We want to ensure that your bookkeeping is the best it can possibly be.

Owners/Management Meetins as well as Financial Health Meetings

Cover Your Assets does it best to accommodate its clients.  Owners meetings set up on a schedule that works for all parties involved.  This is typically monthly, quarterly, or annually.  

These meetings are to go over financial statements and the financial health of the business.  This includes recommendations available for the current state of the business.  Including tax strategies , savings strategies and potential growth strategies.  

Financial statements are included quarterly with all packages and owners meetings annually.  We can revise the frequencies based on what you want for your business.

Deductions and Remittances

We ensure that all calculations for remittances are done in a correct manner.  We do this to ensure that all services after, happen without problems.  Source deductions, payroll deductions, and deduction calculations are all done properly and on time.  Deductions and remittances are a task few people enjoy doing.  We can take over these tasks and relieve some stress off of you.  This includes CPP, EI, Federal Tax, Provincial Tax, WCB, GST, HST, PST and any other required remittances.  This also includes preparation, filingand payments to any required governing bodies.  This can include preparation and filing of T4s and ROEs for staff at the end of the year.

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Payroll, Payroll Support and Payroll Management

Calculation and tracking of payroll, payroll remittances and supporting payroll companies or administrators.  We understand that the government has a set schedule.  We understand that remittances of any kind must be on time.  We also understand that you are busy.  

We provide payroll services, payroll management services and payroll support.  If you have a separate payroll provider, we will work with them to ensure payroll is correct and that your bookkeeping reflects this.

Year End Preparation and Bookkeeping

Ensuring that your bookkeeping is ready for an accountant come tax season if you choose to have your taxes done elsewhere.  We will communicate with your accountant to ensure your books are to their liking.  We make sure your bookkeeping and taxes are done properly and on time.

Tax Preparation

Year end tax preparation of business taxes.  Year end preparation of personal taxes.  We offer packages that include annual tax preparation and filing for business taxes.  If you wish to bill this separately that can be arranged.  We also offer tax preparation services for personal taxes.

Integration and Software Linking

We will assist in setting up software integrations and linking to your bookkeeping software.  There are so many possibilities here.  There are integrations for bill pay, invoicing, forecasting, payroll, cash flow management, document upload and attachment and so much more.  Each and every integration is made to make your life easier and in most cases automate some of your typical bookkeeping tasks.  Our favorite integration is Dext.  Dext allows you to scan receipts, invoices and any other documentation through the app or upload from web browser.  Dext then carefully scans each document.  Dext then uploads it to your bookkeeping.  From here Dext will help attach documents to transactions.  If your bookkeeping is set up in a proper manner, its next function is awesome.  Dext will help to input transactions or match documents to transactions.  This can save a lot of time for you and your bookkeeper.  Using this software is in part how we keep our prices lower.

Bookkeeping Services Grande Prairie

Basic Financial Statements

All packages include basic financial statements quarterly.  This includes balance sheet, income statements, equity statements and trial balances.  We can revise the frequency within your quoted package.  

Most of our clients opt to have all financial statements done monthly, especially while in a growth phase.  Some clients prefer to have all services done quarterly and nothing morel.  We can advise which pricing and services would be most beneficial based on your company goals.

In-Depth Financial Statements

These include inventory reports, payables reports, receivables reports and vendor reports.

Advanced Statements and Services

We offer a variety of advanced statements and services such as:

  • Financial Projections and Forecasts
  • Cash Flow Management
  • Cogs Pricing and analysis
  • Estimate vs Actual and Budget vs Actual
  • Class, Project and Location Tracking
  • Job Costing
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So what can the advanced services do for me?
COGS and pricing Analysis

For businesses that are either not making a progit or are unsure of their profit margins.  Running a COGS analysis can help.  This can tell you what your cost of producing a product or service is.  Knowing this information allows you to set up your pricing evaluation a little bit better and scale up your profit margins.

Estimate vs Actual and Budget vs Actual

For companies that provide estimates to clients prior to service.  This tracking and reporting allows you to see if projects are profitable, and if not, why.  This allows you to provide better quotes in the future based on similar jobs.  Budget vs Actual is for those who want to create a budget and try to stick within it.  This can also show you if your budget is not sufficient and perhaps needs to be revisited.

Cash Flow Management

Cash Flow Management is done through a particular bookkeeping set up and reporting.  This can show us times of cash hold up, what is causing it, and based on that we can fix it.  Cash flow management is a system that is set up to reduce the amount of time it takes you to get paid, and tracks your cash in and out.  It also allows you to see accurately what is in your accounts at any given time, and a brief window into what should be in your accounts in the near future.

Financial Projections and Forecasting

This can be done with or without cash flow management, though it is far more effective using both.  Using historical and current data we can give you estimates on how your company is doing and should be doing in the near future.  How will the company be looking in the next month?  How about 5 months from now?  A year from now?  Obviously external circumstances can change a projection, but provided nothing drastic changes this is a great tool to use.

Bookkeeping Services Grande Prairie

We are a full-service bookkeeping firm dedicated to personalized service for each client.  We provide reminders to clients ensuring all bookkeeping and tax preparation is done on time.  This includes all remittances.  We do our best to make ourselves available for your convenience.  We set up appointments and meetings within a schedule that suits everyone involved.  

We take pride in our work and strive to provide you with a pathway forward.  Through bookkeeping, accounting, taxation and consultation.  Every business is one of a kind.  YOUR business is one of a kind, as such our bookkeeping packages should be as unique as the business that is using them.  All our pricing is custom built to suit your business needs and wants.

Our Software Providers