Our Services

Big or small, organizations are looking for the same qualities in people they work with. Trustworthy, competent individuals.

Bookkeeping Best Practices

We are proud to use the Pure Bookkeeping System with all of our clients. We are accredited licensees and all of our bookkeepers have been trained in the Pure Bookkeeping System. What these means for you:

  • Efficient bookkeeping systems according to your needs.
  • Quality financial data and a wide range of reports to empower you around your finances.
  • A Bookkeeping manual with all of your business processes and needs detailed. If you choose to leave us and change bookkeepers all of the information will be retained in the manual and provide a smoother transition.

Trusted Advisor

Making sure all the compliance requirements are taken care of should be a given. Unfortunately, not every bookkeeper has the experience or qualifications that you can trust to do that. We at Insyte Business Solutions not only guarantee the quality of the work, but we will also empower you around your finances by being your trusted advisor helping you navigate your way through the complexities of running a business.

But you thought that’s what accountants were for right?!! Not necessarily. Many accountants provide tax advice and some are qualified to provide financial advice. You may talk to them a couple of times a year to get advice about the best way to purchase a motor vehicle or some other asset for example and hopefully, they will be proactive enough to give you advice about how you might be able to minimize your tax.

Although we are qualified bookkeepers we are not trained or insured to give you that kind of advice. However, we will work closely and collaboratively with your tax accountant to provide them accurate information in a timely manner so they can give you the advice you need.

Because we work closely with you to keep your bookkeeping up to date that enables us to get a better understanding of your business and your goals. And, because of our experience, we will be able to give you insights into what the numbers mean and help you manage your cash flow and budgets to help you achieve your goals. That’s what being a trusted advisor means.

And you thought all we did was bookkeeping right?!!

Cloud Bookkeeping

Traditional accounting software stores your data on a single device.
Cloud bookkeeping stores your data on centralized servers online.

What these means for you:

  • Cost reduction – no need for software version updates, IT maintenance fees, or licensing fees
  • Automation of manual bookkeeping and reduced paper processing
  • Allows you or anyone authorized to access the software, to easily update or review financial data from any device
  • Ensures security of data with each platform using state of the art measures such as multifactor authentication and encryption
  • Easily scalable to support growth for changing business needs
  • Connects with other cloud solutions to save time and money
On-going Bookkeeping

Accounts Payable

  • Enter Supplier invoices
  • Pay bills
  • Enter Supplier payments
  • Reconcile of Accounts Payable

Accounts Receivable

  • Enter Sales invoices
  • Enter payments
  • Chase overdue invoices
  • Reconcile Accounts Receivable

Payroll

  • Process payroll
  • Pay staff
  • Manage source deductions
  • File and distribute T4’s
  • File and distribute Records of Employment

Bank Accounts

  • Process bank fees and interest
  • Process direct deposits

Reconciliations

  • Bank and Credit Cards
  • Staff Source Deductions
  • GST/HST and PST sales taxes
  • Loan Accounts (including inter-company)

Liabilities

  • Payment/process
  • Payment/process Staff source deduction
  • Payment/process loans

GST/Source Deductions

  • GST remittance
  • Source deductions remittance
  • Corporate remittance

End of Year

  • Reconcile wages, tax and source deductions before filing PD7A’s and T4’s
  • Providing accountant with data file and end of year reconciliations for Tax Return preparation

CRA

  • Liaising with CRA for GST and Source deductions
  • Managing payment arrangements

Procedures and Manuals

  • Update Client’s Bookkeeping manual

Reporting

  • Monthly Profit and Loss and Balance Sheet
  • Other reports as required
Rescue Jobs

What is a rescue?

It’s not deliberate. You had good intentions. Time runs away from you because you are busy running a business. Before you know it, the GST/HST deadline is looming AGAIN and you know you’re going to have to spend the weekend getting it done.

Or maybe you had someone who you thought you could trust but got it all wrong because of their inexperience.

Over time the problem becomes so big that:

  • It has taken over your office
  • It keeps you awake at night
  • You don’t know where to start
  • You’re fearful the CRA will call
  • You have no idea how much tax or GST you owe
  • You are completely in the dark
  • It’s what we call “The Bookkeeping Monster!”

What’s the good news?

We can tame The Bookkeeping Monster because we have a team of highly skilled and dedicated bookkeepers who use the Pure Bookkeeping System to empower business owners in their financial matters, removing confusion, fear and uncertainty and replacing it with clarity, freedom and control.

Because every “rescue job” is as individual as you are we can’t say exactly what we need to do to clean it up, get you up to date or how long it will take. During the initial consultation when we complete a Health Check we will explain to you what the problems are and what needs to happen to transform your data file into a source that provides you with reliable information.

Bookkeeping Issues:

Essentially though we will do whatever it takes as quickly and efficiently as possible. Some of the issues we will address are:

  • Bank Accounts or Credit Cards that don’t reconcile with the Statements
  • Old unpresented transactions in the Bank Account or Credit Card
  • Accounts Payable and Receivable that don’t balance with the Balance Sheet
  • Accounts Payable and Receivable aren’t “real” i.e. outstanding invoices and bills have already been paid but still showing as outstanding
  • Incorrect previously lodged filings with the CRA.
  • Payroll Categories that are incorrectly set up therefore giving you incorrect information in Payslips, AL & SL Accruals, incorrect Tax Tables, source deductions and PD7A’s & T4’s
  • Unreliable Inventory figures

The implications of these issues are:

  • You may be paying the wrong GST, Tax and source deductions for your staff
  • You may be subject to fines and interest
  • You may be making strategic business decisions based on unreliable figures with dire consequences
Start-Up Businesses

If you are a start-up business the process is straightforward:

  • As Professional Partners with both QuickBooks and Xero we will recommend the most appropriate software for your needs and advise you of our discounted prices to buy the software
  • One of our “Specialists” will install the software, customize the Chart of Accounts specific to your business needs, customize Sales Invoices and setup the Payroll if required
  • We will introduce the Pure Bookkeeping Systems for organizing your source documents ready for processing
  • Depending on your needs we will arrange to do regular processing on an agreed day & time
Software Set up and Management

QuickBooks Online is an online accounting software that allows you to:

  • Track expenses & income,
  • Create invoices and accept payments,
  • Pay bills and vendors
  • Track projects & see profitability
  • Pay employees
  • Integrate with platforms like T sheets, Square, Receipt Bank and others.

Xero is an online accounting software that allows you to:

  • Send invoices and quotes
  • Enter bills
  • Reconcile accounts
  • Create reports
  • Enter expenses
  • Integrate with over 800 other business applications

Dext is a document collection software that allows you to:

  • Capture store and track your business receipts, bills, invoices, and bank statements
  • Process documents in Dext Prepare and publish directly to your accounting software
  • Audit Proof your business with organized financial records that can be accessed at anytime from anywhere in the world.
  • Cut down on data entry time by extracting information, sorting it by supplier and storing documents with market leading accuracy
  • Submit documents via desktop, the mobile app or email
  • Create expense Reports
  • Communicate directly with bookkeeper, staff or anyone set up with the mobile app via the messaging tool on each invoice, bill or receipt
  • Connect with Dropbox, Paypal, and hundreds of suppliers to automatically fetch invoices and documents.

Hubdoc is a document collection software that allows you to:

  • Capture store and track your business receipts, bills, invoices, and bank statements
  • Submit documents via desktop, the mobile app or email
  • Connect with your accounts to automatically retrive your reoccuring bills and statements
  • Extracting data to analyze documents for relevant data and save data processing time
  • Process documents in Hubdoc and publish directly to your accounting software
  • Audit proof your business by organizing your documents and acting as a secure digital filing cabinet.
Financial Reporting and Compliance
  • Prepare all government fillings
  • Prepare Statistics Canada mandatory business surveys
  • Track all transactions accurately according to CRA and GAAP requirments
  • Ensure you benefit from all expense deducations and GST inuput Tax credits
  • Allow for a smooth audit in case your business is audited by CRA
  • Prepare WCB/WorkSafe returns
  • Prepare Soceity Registrar returns
  • Prepare Income Tax returns
Charity Consulting
  • Strategic Planning and guidance
One on One Consulting and Training
  • Strategic Planning
  • Financial Management
  • Operational Efficiency
  • HR Management
  • Technology selection and training