GTA Accounting is a highly rated CPA Firm in Toronto
With over 200 5-star reviews on Google, GTA Accounting has also won awards on Clutch 2 years in a row, featured in the Toronto Star and is one of the Best Companies for 2022 on "ThreeBest Rated".
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Cloud Accounting Services
Virtual accounting is the newest trend sweeping small businesses across the nation, and for good reason. These businesses are taking advantage of the automation and technology that’s almost impossible to attain in small scale internally. With the help of virtual accounting firms, a small business can access robust technology and up to date training which is costly to acquire in house.
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What is Virtual Accounting & How Does it Work?
In simple terms, virtual accounting is a system that allows businesses to have their bookkeeping and accounting tasks done by a qualified expert remotely. The word virtual implies that the work will be done by a person online and the service can be accessed through an online network.
Hiring a cloud accounting firm in Canada is a flexible and cost-effective option especially for small businesses that would like to focus on their core competencies. With virtual accounting, a business gains similar benefits as having an accountant who is physically working at the office.
How Virtual Accounting Services Can Help Your Business
Businesses that seek cloud accounting services stand to benefit in several ways. To start with, they can save time and money by reducing in-house costs. Outsourcing necessary business functions like accounting and bookkeeping helps to lower the costs associated with hiring and retaining full-time employees.
It also allows businesses to spend more time and resources focusing on what they do best. Additionally, organizations can avoid inconsistent financial management and disorganized systems, which is often the case with an in-house accountant or bookkeeper.
Benefits of Virtual Accounting Services for Businesses
Ever thought of the things that can go wrong with in-house accounting. Having one person in charge of all your bookkeeping and accounting certainly has its risks. For starters, it gives a greater opportunity for fraud because if it’s one person overseeing all your books then it becomes easy to cover up errors or inconsistencies. Additionally, in-house accounting has the following drawbacks:
- Incompetence due to lack of skill and experience
- Overhead costs associated with full-time staff
- Unreliable performance, varying skill sets
- Few internal controls
- The in-house staff may be given additional duties that detract from their core role
A virtual CPA firm gives small businesses an opportunity to have all their accounting and bookkeeping needs met without having to hire another full-time staff member. To start with, a business can effectively use its resources by paying only for the work they need to be done. This could be a great solution for larger organizations with an in-house accountant but that require additional assistance. The virtual accountant can easily integrate existing systems and work seamlessly with the in-house team to provide all the assistance they need.
Cloud Bookkeeping Services Bespoke to Your Business Needs
Accurate and efficient bookkeeping is the foundation of successful businesses. Proper recording and maintenance of financial transactions aid business owners in making informed decisions. Our cloud bookkeeping services perfectly address this need of SMBs (Small-to-Medium-sized Businesses).
Our virtual bookkeepers understand that providing bespoke virtual bookkeeping services in Canada means having comprehensive knowledge of the industry. With access to the right cloud platforms and tools, we offer cloud-based bookkeeping services bespoke to business needs.
We can also scale our bookkeeping services with the evolving needs of your business. With our strategic alliances with first-rate cloud accounting platforms, we offer unmatched cloud-based bookkeeping solutions.
Virtual Tax Advisor at Your Service
We are a virtual tax advisor who can do your taxes from start to finish. Our certified tax experts can guide you through the tax filing process in Canada from start to finish. In addition, we ensure our clients get maximum refunds with the accurate filing of their tax returns.
Here is how our virtual tax accountant can help you with our virtual tax preparation services:
- Help you find the deductions and credits you qualify for.
- Provide you with expert advice.
- Make sure you accurately file your taxes without missing out on anything.
We can also help you deal with the audit in case you are being audited by the Canada Revenue Agency (CRA).
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