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Bookkeeping FAQs
At Flashbooks we harness advanced technologies built on a wealth of experience, enabling us to deliver efficient and seamless bookkeeping services at the lowest price in the market.
With Flashbooks, you enjoy the simplicity of one comprehensive monthly fee. Your subscription covers all bookkeeping services, technology, and support—no hidden costs, no additional platform fees. Choose between our monthly plan at $89 or save with our annual subscription at $949.
There is no long-term contract required to join Flashbooks. We are committed to providing a transparent pricing structure with no hidden fees.
Each month you need to upload your bank statement and credit card statement. If you send e-transfers, we will need your e-transfer listing. Also, any invoices and receipts for one-off items, such as a new vehicle purchase or other equipment. We don’t need receipts for routine expenses, like every time you fill up a tank of gas.
You will receive notification that your monthly profit and loss statement is ready for viewing. The P&L statement will show your year-to-date revenue and expense activity, so you can monitor your company’s performance in real-time.
We will generate a comprehensive set of financial reports, including balance sheet, profit and loss statement, trial balance and general ledger. These documents should be provided to your accountant for an efficient and seamless corporate year-end process and tax filling.
Flashbooks will post your accountant’s adjusting entries at no additional cost. All you have to do is upload the entries via your user dashboard and we’ll take care of it.
With Flashbooks, invoicing is included at no extra cost and seamlessly integrates with your bookkeeping. You can create professional, branded invoices customized with your logo, details, and payment terms, and each invoice flows directly into your books. Payments, outstanding balances, and taxes (GST/HST or provincial sales tax) are automatically tracked, ensuring that your financial reports remain accurate and up to date. The system also helps you manage cash flow by tracking the status of invoices whether paid, pending, or overdue.
It involves the day-to-day recording of sales, purchases, receipts, and payments. This process forms the foundation of your financial reporting and helps you maintain clear visibility into your cash flow and overall financial health.
Accurate bookkeeping is crucial because it provides a clear financial picture to help guide business strategies, helps you meet tax obligations and regulatory requirements, allows you to track income, expenses, and liquidity and enables you to spot trends, manage budgets, and secure financing when needed.
Flashbooks provide professional solutions designed to streamline, organize, and accurately maintain the financial records of a business.
We use reliable software with automation features to minimize manual errors. We ensure that everyone involved in bookkeeping understands best practices and regulatory requirements.
The frequency at which you update your books can vary depending on your business size, transaction volume, and specific needs. However, establishing a regular routine is essential for accuracy, compliance, and informed decision making.
All financial transactions are recorded accurately throughout the year. Records are maintained in a clear and organized manner, simplifying the tax filing process. Necessary documentation (receipts, invoices, bank statements) is readily available for auditors or tax professionals.
Flashbooks use secure, encrypted systems and adhere to industry standards to protect financial data. Regular audits and backup procedures help ensure that records are compliant with tax laws and financial regulations.
Ready to take control of your finances?
Contact our bookkeeping experts today!
Payroll FAQs
Each employee will access the self-service portal where they’re able to view pay stubs, T4s, and any other important payroll documents. Because we use modern cloud-based systems, employees can access their financial information anytime, from anywhere.
Flashbooks will manage all communication with the Canada Revenue Agency to ensure any payroll-related inquiries or notices are handled promptly and effectively.
Each employee will access the self-service portal where they’re able to view pay stubs, T4s, and any other important payroll documents. Because we use modern cloud-based systems, employees can access their financial information anytime, from anywhere.
Flashbooks will manage all communication with the Canada Revenue Agency to ensure any payroll-related inquiries or notices are handled promptly and effectively.