FAQ

What kind of books and records do i need to keep?

If you own a business or have involvement in any commercial activities, it is important that you keep your bookkeeping up-to-date with records of all business transactions. The information you are required to store may vary. However, it is essential that your financial records are accurate and complete with daily entries of the income and expenditures.

At the minimum, your financial records should be detailed enough to support your tax filings in case of an audit or inquiry. Failing to provide backup may result in substantial financial penalties. Fines and owed taxes are also typically charged interest from the year they are owed.

When is a good time for me to hire a bookkeeper?

If you have trouble finding the time or have no interest doing bookkeeping on a regular basis then that probably means its time to ask us for help.

Some of you may have been taking care of your own bookkeeping and have no issues doing so. However, if you find yourself performing the same repetitive tasks regularly and would rather spend the time on something else, then it is likely time to explore options. Our bookkeeping service is where you can buy back your limited time and energy – the most precious resource in any business.

What advantages does an outsourced bookkeeping service bring versus an in-house bookkeeper?

There are numerous advantages to hiring our bookkeeping services.

Expertise & Focus
Bookkeeping is all we do, we have done it for a long time, and we do it well. Bookkeeping is where we have developed a lot of expertise over the years.

A good bookkeeper takes care of a lot more than debits and credits. We recognize practical issues when we see then early on that will save you headaches, time and money.

Proper Standards and Best Practices
At Momentus, our bookkeeping services uphold proper standards and we are a trusted service to many businesses in Vancouver, BC. We do not think there will be any bad surprises.

We have a set of best practices and procedures that makes the whole bookkeeping process smooth and take as little time as possible from you.

Save time from HR Issues
If you use our service you can save time and avoid the hassle of hiring staff, retaining staff, hiring replacements, salary negotiations, managing employee expectations.

Flexibility
Unlike a permanent employee, there is no obligation to keep us onboard. If work load goes down or you do not need bookkeeping help, we can alter the service level or stop our services within a month. With an employee, there are the issues of employment laws and severance, etc.

Ability to Meet Peak Demands
If there is a sudden increase in work demand, we can easily scale up our services to meet your need within a short time. Alternatively, if you only rely on internal staff, it will take time to hire more staff or to brief and get us onboard when it gets busy. Educating newly hired help during busy season is tough as your existing staff already have a lot on their plate.

Proper Incentives
We are hired to work, not hired to clock time. We only get paid for the amount of work you need from us! If you are focused on value and saving money, this is where we shine.

We are happy to work with your company regardless of what setup you have in your company for bookkeeping.

I am still not convinced. But i do agree that bookkeeping is no fun and i need to do something about it. What should i do?

Give us a call and we can chat about it. It won’t take us 10-15 minutes to figure out if we can help you or not. There is no obligation to hire us.

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