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Virtual Buddys have chartered accountants and financial specialists on staff that can provide basic financial advice to your business.

Bookkeeping is the practice of keeping track of financial transactions and data every day. Transfers to suppliers, loan payments, customer invoice payments, asset depreciation tracking, and financial report generation are all examples of account accounting services.

With the use of progressive technologies such as cloud software, automation, and AI, Virtual Buddys support customers in improving their financial record-keeping in a digital age. Our clients benefit from reduced administrative load and quick, dependable access to high-quality financial data as a result of our partnership. We work with our chosen tech stack to optimize financial procedures. Find out more in the sections below.

BOOKKEEPING AS A SERVICE

We actively maintain and create financial statements for your company's financial records.

  • We do the following procedures:
  • Bank deposits and receivables
  • Cheques and payables
  • Salary and fringe benefits

We’re in charge of government reporting:

  • Remittances from payroll
  • Payroll reporting at the end of the year (T4s, T4As)
  • Taxes on purchases (GST, PST, HST)

Before releasing financial statements to you, we adjust bank, loan, investment, payroll, and other balance sheet funds and assess our work at month's end. We produce paperwork for audit or for your tax preparer at the end of the year, and we engage with your accountant as needed to complete the year.

We may also assist you with management reporting by updating your budgets and cash flow sheets with year-to-date actual figures.

Annual financial statements and monthly reports must be accurate.

The financial condition of a firm is one of the main concerns of creditors and investors. Financial statements are used by investors to determine the profitability and sustainability of their investment in a firm.

Financial services

Financial reporting is getting increasingly difficult as the company environment and activities become more complicated. This problem is exacerbated by the major changes in financial reporting rules that are expected in many jurisdictions. Many businesses are also looking to enhance their procedures in order to provide timely and accurate financial reporting.

Our Financial Accounting Services practice is made up of a committed team that provides accounting and financial reporting assistance and recommendations to member firms' audit and non-audit customers on a variety of transactions or events, including compliance to new or modified accounting standards and efficacy testing.

  • Consistently Available-Our services are hosted in the cloud, which means you'll have access to your accounts 24 hours a day, seven days a week, and can be assured of their security.
  • Eligibility for Financial Aid-You'll need to produce your books of accounts from the beginning of operations if you want to raise money or get a loan later. You can decrease your compliance costs by keeping accurate records of transactions.
  • Examine Your Efficiency-Financial data is used by all organizations to make choices since it provides an unbiased account accounting of the company's efficiency. It is always possible for prejudice to seep into decision-making when they are absent. 

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