Accounting & Bookkeeping
Accurate, timely, and insightful accounting and bookkeeping services that give you clean financial records, clear visibility into your business performance, and a solid foundation for tax compliance and growth.
What We Do & Why It Matters
Clean books are the foundation of every good business decision. When your financial records are accurate and up to date, you can make better decisions, file accurate tax returns, access financing more easily, and sleep better at night. TYM's accounting team provides full-cycle bookkeeping and accounting services, from transaction recording to month-end close to financial statement preparation - all reviewed by a licensed CPA to ensure accuracy and compliance.
- Full-cycle bookkeeping: accounts payable, accounts receivable, bank reconciliations
- Month-end and year-end close process management
- Financial statement preparation: P&L, balance sheet, cash flow statement
- CPA review of all financial records for accuracy and compliance
- QuickBooks Online, Xero, and other cloud accounting platform expertise
- Accounts receivable management and collections support
- Bookkeeping cleanup for businesses with messy or outdated records
Everything Covered in This Service
Transaction Recording & Categorization
Accurate recording and categorization of all business transactions, including sales, purchases, payroll, and bank transactions, in accordance with GAAP.
Bank & Credit Card Reconciliation
Monthly reconciliation of all bank and credit card accounts to ensure your books match your actual bank balances.
Accounts Payable Management
Processing of vendor invoices, payment scheduling, and maintenance of your accounts payable ledger.
Accounts Receivable Management
Invoicing, payment tracking, and accounts receivable aging reports to help you collect what you're owed.
Month-End Close
Complete month-end close process including journal entries, accruals, prepaid amortization, and financial statement preparation.
Financial Statement Preparation
Monthly or quarterly preparation of income statement, balance sheet, and cash flow statement with management commentary.
CPA Review
All financial records are reviewed by a licensed CPA to ensure accuracy, completeness, and compliance with applicable accounting standards.
Cloud Accounting Setup & Training
Setup and optimization of QuickBooks Online, Xero, or other cloud accounting platforms, plus training for your team.
Bookkeeping Cleanup
Remediation of historical bookkeeping errors, reconciliation of backlogged accounts, and reconstruction of financial records for prior periods.
How We Work With You
Books Assessment
We review your current accounting setup, chart of accounts, and historical records to understand where you are and what needs to be improved.
System Setup & Cleanup
We set up or optimize your cloud accounting platform, clean up any historical errors, and establish the processes and controls that will keep your books clean going forward.
Ongoing Bookkeeping
Our team handles your day-to-day bookkeeping on a weekly or bi-weekly basis, ensuring transactions are recorded accurately and promptly.
Month-End Close & Reporting
At month-end, we complete the close process and deliver your financial package - typically within 5-7 business days of month-end.
CPA Review & Advisory
A licensed CPA reviews your financial records and provides commentary on your financial performance, flagging any issues or opportunities.
Industry Facts & Context
Everything You Need to Know
Detailed context on how this service works, what it covers, and why it matters for your business.
Bookkeeping Services for Small Business in Toronto and Miami
Accurate, timely bookkeeping is the foundation of every healthy business. TYM provides monthly bookkeeping services, catch-up bookkeeping, and full-cycle accounting for small businesses, startups, and growing companies across Toronto, Miami, and North America. Our virtual bookkeeping services use cloud-based platforms including QuickBooks and Xero - giving you real-time visibility into your financials from anywhere. We handle bank reconciliations, accounts payable and receivable, payroll entries, and month-end close so you can focus on running your business.
Outsourced Accounting: What Financial Reports Should You Review Monthly?
Many business owners don't know what to look for in their financial statements - and that's exactly where TYM adds value. Our outsourced accounting services include monthly financial reporting packages with plain-English commentary: profit and loss statement, balance sheet, cash flow statement, and key performance indicators. We explain how to read a profit and loss statement, identify cash flow warning signs, and understand the difference between cash basis vs accrual accounting. Good accounting isn't just compliance - it's the intelligence that drives better business decisions.
QuickBooks vs Xero: Choosing the Right Accounting Software
Choosing the right accounting software is one of the first decisions a growing business faces. TYM's team works with both QuickBooks bookkeeping services and Xero bookkeeping services - and we help clients choose the platform that fits their industry, team size, and workflow. We handle full software implementation, chart of accounts setup, historical data migration, and staff training. For businesses still on spreadsheets, we advise on when to switch from spreadsheets to accounting software and build the systems that scale with you.
Catch-Up Bookkeeping and Accounting Cleanup Services
Fallen behind on your books? TYM specializes in catch-up bookkeeping and accounting cleanup for businesses that have months or years of unreconciled transactions. Whether you're preparing for a tax filing, a bank loan, or an acquisition, we'll get your books current, accurate, and audit-ready. We also help businesses avoid the most common accounting mistakes startups make - from misclassifying expenses to missing depreciation entries - and build the internal controls that prevent them from recurring.
Common Questions
Have a question not answered here? Book a free consultation and we'll walk you through your specific situation.
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