Anchor Peak: FAQ
1. Do you file my income taxes? Answer: We focus on the day-to-day bookkeeping to keep your finances organized and CRA-compliant year-round. We do not file T1 (Personal) or T2 (Corporate) income tax returns. Instead, we prepare a clean, accountant-ready financial package at year-end. This makes your accountant's job faster (and often cheaper!) when tax season arrives.
2. My books are a mess and I'm years behind. Can you help? Answer: Absolutely. We specialize in "Catch-Up" and "Clean-Up" bookkeeping. We know life gets busy and bookkeeping falls to the bottom of the list. We provide a judgement-free zone where we take your chaotic receipts or digital files and turn them into organized financial statements, getting you back in good standing with the CRA.
3. How much do your services cost? Answer: We believe in transparency, so we prefer fixed monthly pricing over hourly billing. This means you know exactly what your bill will be every month—no surprises. Pricing depends on the size of your business and transaction volume. Book a free consultation so we can provide a custom quote that fits your needs.
​4. What accounting software do you use? Answer: We work exclusively with QuickBooks Online. This is the industry standard for cloud accounting, allowing us to manage your books remotely while giving you 24/7 access to your financial data from your phone or computer. If you aren't set up yet, we can handle the full setup for you.
5. How does "Virtual Bookkeeping" actually work? Answer: It’s simple and secure. We work remotely using QuickBooks Online and secure document portals. You snap photos of receipts or upload digital invoices, and we handle the rest. We communicate via email, phone, or Zoom, so you get expert support without needing to provide a desk for us in your office.
6. I’m a brand new business. Do I really need a bookkeeper yet? Answer: Setting up your books correctly from Day 1 is much cheaper than fixing them later! We offer "Launch" packages for new businesses to get your Chart of Accounts and QuickBooks Online file set up correctly. This saves you from tax-time headaches and gives you clear data to help your new business grow.
7. Is my financial data secure? Answer: ​Absolutely. Security is our top priority. We use industry-standard encryption and secure client portals to manage your data. Furthermore, we typically request "read-only" access to your bank accounts. This means we can view and classify transactions to keep your books updated, but we cannot move money or initiate transfers.
​8. Do I still need a CPA if I hire a bookkeeper? Answer: ​Yes, and the two roles work best together! Think of us as your day-to-day financial manager, keeping your records spotless. Your CPA uses those clean records for high-level tax strategy and filing. By having us maintain your books year-round, you often save money on CPA fees because they don’t have to spend hours fixing messy data before tax season.
​9. How do I get my receipts and statements to you? Answer: ​We make it as paperless as possible. We utilize secure document-sharing portals or apps that allow you to snap a photo of a receipt and upload it instantly. For bank statements, most accounting software can fetch "read-only" data directly, minimizing the manual documents you need to send.
​10. What reports will I receive each month? Answer: ​At the end of every month, we provide you with a clear financial package that typically includes a Profit & Loss Statement (Income Statement) and a Balance Sheet. We don't just send the numbers; we help you understand what they mean so you can make informed decisions about your business's future.