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Money Tree Accounting offers bookkeeping services customizable to individual client needs. Whether picked from our a-la-cart services or full-cycle bookkeeping, Money Tree Accounting is dedicated to providing only the best in customer service.
We are well versed in QuickBooks, Simply Accounting, Great Plains and PeopleSoft Financials.
At Money Tree Accounting there is no project too big or small.
If the services you are interested in are not listed blow please contact us to discuss.
We are well versed in QuickBooks, Simply Accounting, Great Plains and PeopleSoft Financials.
At Money Tree Accounting there is no project too big or small.
If the services you are interested in are not listed blow please contact us to discuss.
Bookkeeping Services Offered
- Accounts Receivable
Elements of Accounts Receivable include: entering orders, issuing price estimates, preparing customer invoices, contacting delinquent customers and applying customer payments.
Issuing invoices can be straight forward but it can also be complicated when it comes to order, estimation, multi-pricing, project allocation, progress invoicing, or recoverable expenses. We have the skills to prepare invoices suitable to different industries and companies needs.
The most important part of Accounts Receivable is its impact on cash flows. With timely and accurate information you will be better able to project cash flows and plan operations.
- Accounts Payable
Elements of Accounts Payable include: recording vendor invoices and other purchases (including credit card) and making payments.
At Money Tree Accounting we don't just write cheques. We analyze invoices and watch for fraudulent information, such as duplications, incorrect contract pricing, and reconciling delivery receipts with invoices to safeguard your cash. In addition, we work to find ways to save you money, such as taking favorable payment terms provided by your vendors. Protecting your cash is the most important element of Accounts Payable.
The second most important element of Accounts Payable is managing vendor relationships. At Money Tree Accounting we work to ensure smooth cash flows while paying bills wisely to keep good relationship with vendors.
- Payroll
Elements of Payroll include: ensuring accurate employee files, issuing pay cheques, preparing and remitting governmental payroll requirements (PD7A, ROE, T4)
Payroll has become a complex function due to ongoing changes with respect to taxation. At Money Tree Accounting we ensure accurate payments for salary wages, hourly wages, vacation pay, holiday pay, bonuses, and commissions to all full-time employees, part-time employees, owner-managers and commissioned contractors. As part of this highly important element we ensure your business is complying with all payroll tax obligations in a timely manner.
- Banking
Elements of Banking include: bank, credit card, line of credit, loan, and merchant account reconciliations.
Bank reconciliation is the process of comparing and matching figures from the accounting records against those shown on a bank statement. This element is an integral control mechanism to uncover discrepancies which could impact cash flows and to detect and prevent fraud.
At Money Tree Accounting we feel that this element is integral to business process and reconcile all bank statements, credit card statements, line of credit, and merchant accounts (Visa, MasterCard, Amex, PayPal, etc). This monthly reconciliation process ensures that all transactions are recorded in your system which also ensures that all deductions are being recorded for year end tax purposes.
After the statements are reconciled, we prepare reconciliation reports including the deposits in transit and outstanding cheques that have not yet cleared the bank.
- Government Filing
Elements of Government Filing include: GST/PST/HST, WSIB, Employment Insurance, Canadian Pension Plan, Income Tax, Employer Health Tax, Records of Employment and T4s
Communicating with government agencies is not always easy and many find it intimidating. At Money Tree Accounting we have extensive experience with all divisions of the government with respect to remittances and fillings. If you are currently in arrears we are also often able to work on payment terms for you and ensure that you pay as little as possible in late payment fees and penalties as well as ensuring that you are no longer faced with that position in the future by completing your remittances in a timely and accurate manner.
- Financial Reporting
Elements of Financial Reporting include: The preparation and analysis of Income Statement, Balance Sheet, Cash Flow Statement, Accounts Receivable Aging, Accounts Payable Aging, Budgets, Job Costing, Job Profitability, etc.
Accurate and timely financial reports are essential tools that guide your business to move in the right direction. These reports provide essential information required to improve efficiency and assess product development. At Money Tree Accounting we will prepare these and all other statements that would be useful depending on client needs and provide analysis highlights with respect to specific areas of concern or interest to our clients.