From Our Point of View

In our business here at Fiscal Performance we see and work with many different types and sizes of companies and businesses.  That’s the nature of the business when you are a freelance/contract bookkeeper or a bookkeeping firm.  The upside is that the fundamentals of the bookkeeping process are pretty much the same regardless of the kind of business you’re talking about.  Of course you then need to refine your approach to take care of the differences between industries and even companies within the same industry.  Some will require more of the bookkeeper than others.  A lot of factors come into play.

So how do we approach the bookkeeping for a new client?

In most cases it starts off with a meeting and an interview with the prospective client.  The trick is to find out and refine what they need in terms of a complete and accurate set of books.  A few blogs back I discussed the whole process of full cycle accounting and everything that it consists of.  The ultimate goal with a new client is that all the bases are covered so that the full cycle can be dealt with.  There are many stakeholders that depend on the books being complete and accurate including owners, managers, investors, the accountant, staff (payroll) and, of course, Revenue Canada.

So what typically are we as bookkeepers looking for when it comes to the initial interview?  The short answer is to get a handle on anything and everything in the business that has to do with money.  When that is established, a quote can be provided and hopefully the business relationship can begin.  During the interview we are looking to establish:

  • General business information including proper business name, address, contact information including phone numbers, fax numbers, email addresses, etc.
  • Type of business – proprietorship, partnership, corporation, charity, etc.
  • Fiscal year end (corporations)
  • The accountant or accounting firm
  • Revenue sources
  • Typical expenses
  • Payroll requirements if applicable
  • Employer Health Tax requirements if applicable
  • WSIB requirements if applicable
  • GST/HST requirements including filing frequency
  • Number of business bank accounts (size of each bank statement)
  • Number of business credit cards (size of each credit card statement)
  • Number of business loans and/or lines of credit
  • Location preference for the bookkeeping function (onsite, our office, remote access/cloud)
  • Money aspects typical to the industry and/or specifically to the company
  • Special requests by the company with regards to the bookkeeping and the reporting structure

Ultimately, the desired end result is to not only get a handle on the bookkeeping requirements but also to impart to the owner or manager that we are able and ready to give them what they need.  By providing a quotation with a specified set of terms and conditions, the scope of the business relationship can be established with as few surprises in both directions as possible.  The quotation will also address the anticipated cost of providing the bookkeeping service as well.

Although the interview will go a long way to establishing the needs of the client, there is always the possibility that unanticipated things may present themselves.  The intent is to minimize this and go into the new relationship with foresight, insight and appreciation for what each side brings to the table.

At Fiscal Performance, we strive to go into a new business relationship with our eyes wide open as well as those of our new client.  I’m always happy to meet with a new or prospective client to discuss, set up and clarify what we can bring to their business.  By all means feel free and be welcome to approach me.

Here’s to our mutual success!

Tracy

Vaidehi

Bookkeeper

Meet Vaidehi, a dedicated and professional Bookkeeper since 2021, who proudly supports and assists her clients. Her efficiency and expertise shines through her seamless handling of her clients’ financial records including Accounts Receivable, Accounts Payable, Bank Reconciliation and client communication. Trust Vaidehi to provide the support and solutions you need. During her personal time, Vaidehi enjoys dancing, cooking and tending to her garden.

Tinna

Bookkeeping Manager

Introducing Tinna, our resourceful and dynamic Bookkeeping Manager with over 12 years of hands-on experience. An expert in all aspects of accounting and finance operations, she handles preparation and maintenance of statutory accounting books, reconciling revenue and expenditure accounts, overseeing the preparation of monthly, quarterly, bi-annual and year-end financial statements, implementing stellar accounting systems and controls, budgeting and financial projections. Tinna’s solid background in managing both financial and non-financial assets, investigating and auditing accounts, makes her an asset to the Fiscal Performance team.

Duane

Executive Director

A true believer in the power of streamlined workflows and strategic financial planning, Duane is not just about balancing the books; he is also about balancing success with sustainability, innovation with tradition, and growth with groundedness. Bringing together a blend of expertise, experience, and enthusiasm, he is focused on improving systems to continue on providing a high level of customer service to all of Fiscal’s partners, customers and vendors. He invites you to join the Fiscal Performance network and learn how to solve your accounting and bookkeeping challenges today.

Olu

Client Service Manager

If you’re seeking a bookkeeper with a passion for precision, a friendly demeanor, and a love for the beautiful game of soccer, then look no further than Olusegun. With over 10 years of experience with auditing and financial analysis, Olusegun brings a unique blend of expertise and enthusiasm to the table. Known for his approachable demeanor and willingness to go the extra mile, he’s not just your typical accountant – he’s a trusted ally in your company’s full cycle financial management. So, if you’re in need of a bookkeeper (with auditing know-how) who gets the job done, valuing integrity and reliability as part of every job, Olusegun is your go-to guy!

Sam

Task Manager & Quality Control

Sam is a seasoned Bookkeeping Manager with over 14 years of experience. Proficient in book cleaning, reviews, HST report preparation, and finalizing accounts using QuickBooks, he holds a Bachelor’s degree in Law, and Master’s degree in Commerce. Sam is known for his dedication to meeting deadlines, his collaborative work ethic, and equal prioritization of family and work. A nature and pet lover, he finds solace in music.

Alex

Reviewer

Meet Alex, a highly esteemed member of our team, whose accounting expertise spans back to 2015. Holding a semi-qualified Chartered Accountant designation and a post-graduate in Accounting (achieved in 2018) Alex remains steadfast in catering to the needs of clients. Over the course of this distinguished career, Alex has cultivated invaluable proficiency with an array of esteemed accounting software. Renowned for unwavering punctuality, Alex consistently maintains a proactive approach, ensuring meticulous oversight of all deliverables.

Eric

Bookkeeper

Meet Eric, a distinguished professional with a Master of Commerce and a semi-qualified Chartered Accountant. He boasts three years of specialized experience in Canadian and US accounting, using software such as QuickBooks Online, QuickBooks Desktop, and Dext. Eric’s proficiency shines through his seamless handling of onboarding, migration, clean-up, and catch-up projects. Renowned for his tech-savvy approach, Eric leverages his expertise in advanced Excel macro building to empower clients — enhancing their productivity and efficiency. Trust Eric to deliver unparalleled financial solutions tailored to your specific needs, ensuring excellence every step of the way.

Jess

Bookkeeper

Jess is a dedicated Bookkeeper, with a Bachelor of Accounting, who is proud to assist her clients with bookkeeping support, since 2020. Jess is well-versed in a suite of software programs with a focus on QuickBooks Online. Her expertise extends beyond conventional bookkeeping, encompassing Accounts Receivable, Accounts Payable Management, Payroll processing, and adeptly managing the books as per client specifications and needs. She stands out for her swift file processing capabilities and streamlined financial processes at Fiscal Performance.

David

Task Manager

Meet David, Fiscal Performance’s Task Manager. A distinguished accounting & finance professional since 2014, David is adept in leadership roles. Known for his advanced skills in process implementation and continuous improvement, David works to ensure optimal outcomes for clients. With extensive experience spanning global markets including Canada, USA, UK, and Australia, he specializes in providing comprehensive CFO & bookkeeping services. Proficiency in a variety of accounting software enables him to tailor solutions to meet his clients’ needs effectively. David is detailed oriented and his ability to deal with conflicting priorities in high-pressure situations makes him an VIP at Fiscal Performance.

Chris

Reviewer

Introducing Chris, a Reviewer at Fiscal Performance and a seasoned professional in the accounting & finance industry. He boasts a career, starting in 2017, that includes executive roles to team leader positions. A post graduate in accounting, he is proficient in software such as QuickBooks Online and QuickBooks Desktop. Chris has honed his skills over the years, optimizing his bookkeeping processes by prioritizing accuracy and efficiency. Known for his dedication and meticulous approach, Chris consistently seeks out innovative solutions to streamline operations and deliver top-tier results. His commitment to excellence and his proactive attitude makes him an invaluable asset at Fiscal Performance.

Tracy Khamis

CPB, DFA – Bookkeeping Services Specialist™

Managing Director

Always wanting to learn and gain knowledge, Tracy has worked for multiple companies from various industries. Having the opportunity to work in varied industries from small companies to large organizations such as banks, accounting firms, schools, restaurants, construction, manufacturing and the arts has been extremely exciting. Each industry has different rules that apply, along with different government requirements. This experience has provided Tracy with extensive growth and understanding of bookkeeping, multiple software platforms, and in-depth financial report preparation. To know Tracy is to appreciate what she can do to put your books in order and keep them in a timely, relevant and professional manner.

Office: 1-905-662-9437
Mobile: 1-905-818-5328
Email: [email protected]