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An Accountant’s Approach to Bookkeeping

As a Chartered Professional Accountant, I have been taught to think analytically about things; not simply do things the way others have done them in the past, to question and recommend ways to make things more efficient. When I started my accounting firm in Toronto, I quickly realized there is a growing need in Toronto for bookkeeping services. So I started a search into the practice, specifically the bookkeeping Toronto has to offer and immersed myself into the various software packages (Quickbooks, Freshbooks, Simply Accounting, Xero and Wave), watched online videos on bookkeeping, read articles, attend seminars, basically everything I could to learn about being a bookkeeper.

From my research, I identified some gaps within the Toronto bookkeeper space:
– I noticed that there was a lack of innovation within the product offerings of most bookkeeping companies in Toronto
– I realized that today’s businesses are sophisticated and require more; a combination of bookkeeping services and accounting services (in an advisory capacity) would be a value-add and a differentiator
– Today’s entrepreneurs also require valuable advice as they progress during the different phases of the business cycle – start-up, growth, maturity, exit.

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