Plain answers, first sentence first.

Frequently asked questions

What does Langley Bookkeeping do, and what does a CPA do?

We keep the books: monthly bookkeeping, payroll, GST and PST returns, year-end files, catch-up work, and fractional controller oversight. A CPA prepares your financial statements and tax returns and advises on tax and structure. We work with your CPA directly, so the two halves fit together.See the six services

What is bookkeeping, and how is it different from accounting?

Bookkeeping is recording and reconciling every transaction so the books are complete and current; accounting is reading those books, preparing statements, and planning tax. A bookkeeper works every month. An accountant usually works at year-end and when you need advice.Read the Langley owner-operator's guide to bookkeeping

Do I need a bookkeeper if I already have a CPA?

Most growing businesses do. CPA time at year-end is expensive, and a good share of it goes to fixing books that were not kept through the year. A bookkeeper keeps the records right every month, which usually makes the CPA’s work shorter.

How much does bookkeeping cost in Langley?

With us, monthly bookkeeping runs from $500 to $2,000 per month CAD across three tiers. Where you land depends on your monthly transactions, how many accounts we reconcile, whether there is payroll, and how many companies you run. Fees are plus applicable taxes.See the three tiers

Which accounting software do you use?

QuickBooks Online or Xero for the books, Dext for receipts, Plooto or Rotessa for payments, and Wagepoint for payroll. If the software you use today works, we keep it.See the tools and what they cost

Do you work with businesses outside Langley?

Yes. Most of our work is for businesses in Langley City and the Township of Langley, and we also serve Surrey, Abbotsford, Maple Ridge, Pitt Meadows, and White Rock. The books live in cloud software, so we can work with you wherever you are in the Fraser Valley.

What is GST and PST filing?

It is reporting the sales taxes you collected, claiming back what you can, and paying the difference: GST at 5% to the CRA, and BC PST, at a general rate of 7%, to the province. You must register for GST once your taxable sales pass $30,000 over four consecutive calendar quarters.GST and PST filing

What is year-end preparation?

Closing and documenting the year’s books so your CPA can prepare your statements and returns without rebuilding anything. A corporation’s T2 return is due six months after its year-end, so a finished file early leaves time to plan.Year-end preparation

How long does it take to catch up months of bookkeeping?

It depends on how many months are open and what records exist. A few months with complete statements can be caught up in weeks; a year or more with missing records takes longer. You get a timeline and a fixed quote after we look at the books.Catch-up and clean-up

What is a fractional controller?

A senior finance person who works part-time on your business: reviewing the monthly close, building cash forecasts, and reporting margins by job or product, without the salary of a full-time hire.Fractional controller

How often will I hear from my bookkeeper?

Every month when the books close, with a short summary and any questions. Email us whenever you like and you will have an answer by the next business day. Considered and Bespoke clients also get a review call each quarter.

Which industries do you work with?

We focus on eight: construction and trades, farms and agriculture, equestrian businesses, wineries, breweries and hospitality, manufacturing and industrial, real estate investors and developers, professional and medical practices, and owner-operator holdings. Concentrating on a few lets us know how your books should look before you explain them.See the industries

How does getting started work?

It takes about four weeks for most businesses. The first week covers access and setup, the next two bring the books current, and by the fourth the monthly routine is running and your first close lands by the 10th.

Who owns our accounting data?

You do. The QuickBooks Online or Xero subscription is in your name and connected to your bank accounts. If we part ways, you keep everything, and our last job is a clean close.

How do you keep our data secure?

Every tool we use stores data encrypted in the cloud, every account that holds your records requires two-factor sign-in, and access is limited to the bookkeeper on your file. We keep a written retention schedule for the documents we hold.

Which privacy law covers the information we share with you?

In British Columbia, most private businesses are covered by the provincial Personal Information Protection Act (PIPA), which applies instead of the federal PIPEDA for information collected and used within the province. We handle client and employee information on that basis: collected only as needed, used for the stated purpose, stored securely, and kept on a set schedule.Read our privacy policy

Can you work with our existing CPA?

Yes. We send your CPA the year-end file and answer their questions directly through the year. A complete, reconciled file is usually the quickest way to shorten their year-end work.

What if we are behind on GST returns?

We catch the periods up in order and prepare each return from reconciled books, rather than estimates. Late returns can attract penalties and interest, so if the CRA has already contacted you, or several years are outstanding, bring in your CPA or a tax lawyer first; we prepare the books they need.Catch-up and clean-up

Do you meet Langley clients in person?

Most of the work is remote and runs in cloud software, which keeps it quick and keeps your records in one place. We meet in person when it genuinely helps, such as for a first look at a box of old records or a year-end review.

Do you work with farms and hobby farms?

We work with farms that are run as businesses, from berry and vegetable growers to poultry barns, nurseries, and boarding stables. Farm books differ from other small businesses in their seasonal cash flow, PST exemptions on listed farm equipment, zero-rated sales for GST, and seasonal payroll. Whether a farm is a business or a hobby in the CRA’s eyes is a tax question for your CPA; we keep the records that show how the farm is run.Bookkeeping for farms