Short answers first. Detail after.

Frequently asked questions

What does Coquitlam Bookkeeping handle, and what goes to a CPA?

We handle the recurring work: the monthly books, payroll, sales-tax returns, the year-end file, catch-up projects and fractional controller support. Your CPA prepares tax returns and financial statements and advises on tax and structure. We deal with them directly, so nothing falls between the two.Browse the six services

What is bookkeeping, and how is it different from accounting?

Bookkeeping is the month-by-month work of recording, categorising and reconciling every transaction; accounting uses those records to prepare statements, file tax and give advice. One keeps the ledger accurate, the other draws conclusions from it. Most incorporated businesses need both.The Coquitlam owner-operator's guide to bookkeeping

Do I need a bookkeeper if I already have a CPA?

Usually, yes. Paying a CPA to sort a year of uncategorised transactions in one sitting is an expensive way to get bookkeeping done. With books kept clean every month, their year-end work is shorter and their advice rests on accurate numbers.

How much does bookkeeping cost in Coquitlam?

Our monthly fees run from $500 to $2,000 CAD across three tiers: Steady at $500 to $750, Considered at $800 to $1,200 and Bespoke at $1,250 to $2,000. Which one fits comes down to monthly transactions, accounts on file, staff on payroll and the number of companies. All fees are plus applicable taxes.Compare the tiers

Which accounting software do you use?

The ledger lives in QuickBooks Online or Xero. Receipts go through Dext, bills and collections through Plooto or Rotessa, and payroll through Wagepoint. If your current setup works, we keep it rather than migrate for the sake of it.See the tools and their costs

Do you work with businesses outside Coquitlam?

Yes. We also work with owners in Port Coquitlam, Port Moody, Anmore, Belcarra, Burnaby, New Westminster, Pitt Meadows and Maple Ridge. Books, documents and approvals all live in cloud software, so the service is identical whichever of those cities you operate from.

What is GST and PST filing?

It is totalling the sales tax you collected, claiming the GST you paid on business costs, and remitting what is left. In BC that means two returns: GST at 5% to the Canada Revenue Agency, and PST, generally 7%, to the province. GST registration is required once taxable sales pass $30,000 in a single calendar quarter or over four consecutive quarters.GST and PST filing

What is year-end preparation?

It is closing the fiscal year properly: every account reconciled, adjustments posted and a supporting file assembled for your CPA, who then prepares the financial statements and tax returns. A corporation must file its T2 within six months of its year-end, so finishing early leaves time to plan.A year-end checklist for Tri-Cities owner-operators

How long does a catch-up take?

Weeks for a few missing months, longer for a year or more. The real variables are how far back the gaps go and whether statements and receipts still exist. We review the file first, then give you a fixed price and a timeline.Catch-up and clean-up

What is a fractional controller?

A senior finance professional you share rather than hire. They oversee the monthly close, build cash forecasts and report margins for a business that has outgrown basic bookkeeping but does not need a full-time controller on payroll.Fractional controller

How often will I hear from my bookkeeper?

At least once a month, when your books close, with a short note on what changed and anything we need from you. Email questions are answered the next business day, even in the spring market. Considered and Bespoke clients also have a quarterly review call.

Which industries do you work with?

We concentrate on eight: realtors and mortgage brokers, real estate investors, medical and dental clinics, restaurants and hospitality, construction and renovation, professional services, e-commerce and home-based businesses and owner-operator holdings. A short list means we already know how a PREC, a clinic or a restaurant’s books should look.See the eight industries

What does onboarding look like?

Four weeks, in three steps. First, access: bank feeds, software logins and CRA permissions. Next, the ledger is brought up to date. In week four the routine takes over, with your first regular close done by the 10th.

Who owns our accounting data?

You do, in full. The ledger subscription, the bank connections and every document belong to your business, not to us. If we ever part ways, you leave with a reconciled file and nothing to untangle.

How do you keep our data secure?

With encrypted cloud tools, two-factor sign-in on every account that touches your records, and access limited to the people working on your file. We also keep a written schedule for how long documents are held and when they are destroyed.

Which privacy law applies to the information we send you?

Mainly BC’s Personal Information Protection Act, known as PIPA. It sets out how private-sector organizations collect, use and disclose personal information. We apply it to client and employee records: collect only what the work needs, use it only for that work, store it securely and dispose of it on schedule.Our privacy policy

Can you work with our existing CPA?

Yes. We agree on the year-end handover with them early, deliver the file in the form they ask for, and answer their questions directly during the year, so you are not passing messages back and forth.

What if we are behind on GST returns?

We bring the missing periods up to date, oldest first, and file each one from a reconciled ledger instead of a guess. A late return with a balance owing can draw a penalty, and interest runs on unpaid amounts, so sooner is cheaper. If the CRA has already been in touch, or several years are open, your CPA or a tax lawyer should lead, and we supply the reconciled books they work from.Catch-up and clean-up

Do you work with realtors and their personal real estate corporations?

Yes, for the bookkeeping. We keep PREC books monthly: commission income after splits and brokerage fees, marketing and vehicle costs, GST, and what you pay yourself. Trust accounts are a different matter. They belong to your brokerage and fall under the rules of the BC Financial Services Authority (BCFSA), so trust accounting stays with the brokerage.Bookkeeping for a personal real estate corporation (PREC) in BC

Can you keep the books for rental properties and presale purchases?

Yes. We track rent, strata fees, mortgage interest, repairs and property tax by unit, and keep a clean record of each presale: deposits paid, key contract dates, any assignment and the final statement of adjustments. How those amounts are taxed, and how the portfolio is structured, is planning for your CPA.Rental property bookkeeping for Coquitlam condo owners