Bookkeeping Services in Richmond
We offer Bookkeeping Services that are Affordable, Accurate and Compliant to give you a Clear Understanding of Your Businesses Finances.
Bookkeeping Services You Can Trust
At Ada Chan’s CPA & Accounting firm, we understand the importance of accurate and organized bookkeeping. Our experienced bookkeeping services are designed to support your business at every stage, ensuring your finances stay on track and they will always remain compliant with the CRA.
Bookkeeping Expertise
Ada Chan is a chartered professional accountant with vast experience in handling accounts for a wide range of industries.
Accuracy in Bookkeeping
Our team at Ada Chan & Associates prides ourselves on our meticulous attention to detail, ensuring every bookkeeping transaction is accounted for.
Our Bookkeeping Services Save You Time
By having our team handle your bookkeeping services, this allows you to spend time to focus on growing your business.
Customized Bookkeeping Solutions
At Ada Chan & Associates, we provide customized Bookkeeping solutions to fit your business needs.
Our Bookkeeping Services will Improve Your:
General Ledger Bookkeeping Maintenance
The team at Ada Chan & Associates will make sure all you financial data is recorded correctly, updated, reconciled to ensure accuracy and completeness in your bookkeeping and all financial reporting.
Centralized Record Keeping
- Our team will record all your financial transaction from different accounts in a general ledger allowing you to get up to date information on your assets, liabilities, equity, revenue and expenses.
Double Entry System
- Double entry ledgers ensure that every transaction impact two ledger accounts. This ensures the accounting for your business is correct, ensuring that assets will always equal liabilities and equity.
Periodic Reconciliation
- We will periodically reconcile essential aspects of your general ledger to ensure consistency and accuracy.
Adjustment Entries
- Over time updates and adjustments will need to be made to the General Ledger such as accruals, deferrals, estimates or re-evaluations. The adjustments we make to your General Ledger reflects an accurate picture of your financial situation.
Summary of Your Our Bookkeeping Impact on Your General Ledger
Your General Ledger offers a consolidated view of your business’s financial health. Our bookkeeping services ensure that your General Ledger is transparent, accurate and is accurate in your financial reporting. This allows you to make informed decisions about your business.
Accounts Payable
Our bookkeeping services will record your accounts payable to your short-term financial obligations. This will be reflected in your company’s balance sheet as a current liability.
This allows your company to know the financial health of your company and the amounts of short-term liabilities owing. Being able to quickly access your short-term liabilities is crucial to understanding the financial health of your business.
Summary of How Our Bookkeeping Helps with Your Accounts Payable
We understand that your accounts payable are crucial to helping you manage your relationships with your suppliers and service providers. Our bookkeeping services allows you better manage your Accounts Payable and ensure the financial health and reputation of your business.
Accounts Receivable
Our bookkeeping services will allow you to easily see the amounts owing from the goods and/or services your business has provided but have not received payment for yet. We’ll record your accounts receivable as an asset which is expected to be turned into cash in the near future.
Knowing the balance in your accounts receivable allows you to know which customers to follow up with for payment for services or goods rendered. This is also a good indication of which customers you may want to provide better services to and which customers lead to bad debts.
Summary How Our Bookkeeping Services will Allow You to Keep Up to Date with Your Accounts Receivable
Understanding your accounts receivable is a vital part of your business’s financial health, future cash flows and the efficiency of credit policies. Proper accounts receivable management will allow you to know the liquidity of your business and enhance relationships with customers in good standing.
Bank Reconciliation Services
Our Bookkeeping services will allow you to better identify any issues with your company’s ledger and the bank’s statements. This will allow you to find potential simple errors and significant issues such as fraud.
We will make sure that our bookkeeping services will allow you to properly reconcile with your banking statements to ensure the financial health of your business and to ensure that serious issues such fraud isn’t occurring in your business.
Summary of Our How Our Bookkeeping Services Impact Your Bank Reconciliation
Understanding our bank reconciliation services is much more than just matching records, it allows you to see the financial integrity of your business, the trustworthiness of your staff, most importantly it gives you an accurate snapshot of your finances. You can trust Ada Chan and Associates to provide reliable bank reconciliation services to ensure your business’s financial health.
Monthly Financial Reports
Your monthly financial reports will allow you to stay informed about your firm’s financial health. The monthly reports allow you to catch any issues before it snowballs into something much more serious.
Tax Preparation and Filing
Most importantly our bookkeeping services ensures that you’re prepared for the tax season, by keeping up-to-date with your bookkeeping, it allows to quickly prepare your business or corporate tax returns minimzing your stress and maximizng your returns.
Summary of Why Maintaining Proper Bookkeeping is Crucial to Your Business
Maintaining proper books is not just about compliance; it’s about understanding your business’s financial health. With accurate records:
- Make informed decisions about future investments and strategies.
- Ensure timely payment of bills and collection of debts.
- Identify financial discrepancies early on.
- Stay compliant with tax laws and avoid penalties.
Ready to simplify your finances? Trust the experts at Ada Chan and Associates with your bookkeeping needs. Contact us today to learn more or schedule a consultation.
Years in Business
Happy Clients
Industries Served
Testimonials
Hundreds of Happy Clients with Ada Chan CPA
Ada has helped me on my tax returns for the last fifteen years. She is quick, responsible, and knowledgeable. She will give me heads up on what I need to do while she is working on my returns. And when I have questions, she always gets back to me promptly. I highly recommend her tax filing service.
Highly recommend Ada. Professional, knowledgeable, and always promptly responsive. I couldn’t recommend her more.
At all times, Ada has been professional, approachable, and incredibly talented at what she does. We are incredibly pleased with the work of Ada Chan & Associates Inc. and we highly recommend that you and your family consider this team for your CPA needs.