. AIS Solutions| Bookkeeping services for Contractors

Bookkeeping services for contractors | Construction, Plumbing and more

Are you a contractor in Canada? Find out how we can help

If you work as a contractor in Canada, you’re probably tired just from handling the contracting and execution side of your business. Add the financial regulation and compliance laws on top of that and that’s a mix that’s guaranteed to stress you out. When the future and safety of your business are at stake, it’s probably a lot wiser to get help from professional bookkeeping services. And that’s where we come in:

We’ve made it our mission to empower and educate entrepreneurs and help them, and their communities thrive. We’re here to help entrepreneurs make smarter decisions so they can grow their business and therefore gain more time and money. How do we plan on doing that? By providing them with real-time financial information, using the latest cloud technology and the very best Kninja accounting professionals.

On this page, you’ll find information regarding the benefits of outsourcing accounting services for contractors.

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Monitor your business progress. Make informed decisions

A team of specialized bookkeeping professionals will have the expertise and knowledge to provide you with accurate insights in regards to the financials of your business. They will also make sure that your books are well balanced, your bank accounts are accurately monitored, your bills are paid on time, and your payroll is completed.

Based on the information collected, they can provide advice that will help you make the best decisions for the future of your business. Through cloud technology, you can access your business data at any time, from anywhere, directly from your mobile phone.

Combine technology with professional expertise and let them work together towards the success and wellness of your business.

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Searching bookkeeping services for contractors in Canada? Work with a team of awarded professionals.

Schedule a free consultation with us and discover how we can help.

Why is accounting for contractors different?

If you operate as a contractor in Canada, the accounting side of your business can get quite complicated pretty fast. Most contractors’ way of work is based on one project at a time. Therefore, the financial focus changes with every job. This means that contractors need to treat every individual project as a unique short-term profit center. By tracking expenses individually, you can gain better control over your costs and make better, more informed decisions for future projects.

Given the fact that the length of contracts varies based on the industry, revenue recognition and cash management can become complex problems. That’s one of the main things that makes contractors’ accounting different from others. A professional bookkeeper can help you deal with the ways expenses variate and increase your overall profit at the end of the financial year.

What are the benefits of outsourcing bookkeeping services to a professional accountant?

From more precise financial statements to payroll management, revenue tracking, and expertise-based advice, the benefits a professional accountant brings to the table are many. Below we’re listed some of the most important ones that are guaranteed to make an impact in your business.

Increase Scalability

As your business grows, your accounting needs grow along with it. An in-house or part-time bookkeeper will probably don’t have the skills or resources to fit the requirements. Choosing a company specialized in delivering top-level accounting for contractors will grant you constant access to the resources you need to scale your business evenly.

Time Savings

When it comes to business management, everyone could use a bit more time. Outsourcing your bookkeeping is a great method to free up some time in your calendar. You’ll also save time and money by not having to hire, manage, and train in-house staff to handle this task.

Increase Profits

Most firms’ profits and profit margins grow if they choose to outsource their bookkeeping needs to a team of professionals, according to studies. As previously said, outsourcing is much less expensive than retaining a professional to conduct the same duties in-house.

Cost Reduction

We provide every client’s accountant with a clean set of books that have been updated and checked for any errors. This way, your accountant can spend less time on the year-end financial statements and more time advising you on how to improve your business.

Tax Decreases

A team of professionals can employ their expertise to ensure that all the expenses and deductions your business is entitled to are rightfully claimed. As an example, after engaging with a new client, we reviewed their HST account and found almost $28,000 dollars in HST input credits that a previous bookkeeper had missed.

Maintain Focus

As a business owner, regardless of the industry you operate in, your focus should always be oriented toward the most important aspects of your business. Plus, accounting for contractors can be quite complicated to handle. By not having to dedicate precious time and energy to your bookkeeping, you can maximize focus on other vital areas of your business.

Searching bookkeeping services for contractors in Canada? Work with a team of awarded professionals.

Schedule a free consultation with us and discover how we can help.

Take a look at what others say about their experience with us:

Frequently Asked Questions

Do I need to clean up my books before I pass them over to AIS Solutions?

No, you do not. Cleaning up your books will be included as part of our work estimate. We provide every client with a clean set of books that have been updated and thoroughly checked for any eventual errors as a starting point.

How do I know if my contracting activity is profitable?
A lot goes into determining if a company is profitable, especially long-term. Profit is the revenue remaining after you’ve paid all of your expenses. So, if you’re “in the black” after paying off all expenses, that generally means you’re profitable, at least for the most recent reporting period. But profitability can be largely impacted by positive and negative cash flow, so it is important that you track and forecast both.
Shouldn’t my bookkeeper be local?
Businesses no longer need to work with a local bookkeeper. The internet and cloud technology make it easy for bookkeepers to access their clients’ books anytime, anywhere securely. Business owners can now select a bookkeeper who truly understands their industry and operations instead of hiring the local community bookkeeper.
Can you operate from a distance?
Thanks to the evolution of cloud technology, it’s a lot easier for bookkeepers and accountants to have access to the client’s books anytime and anywhere. Nowadays, you have the opportunity of selecting the very best bookkeeping team that fully understands the needs and challenges of your business without being limited to local choices.
I’ve never worked through Cloud before. What if I don’t understand it?
If you or your organization are new to the Cloud, this is definitely the best place to start. We’ll take you through the steps to ensure you’ll gain a thorough understanding of how cloud-based accounting for contractors works.

Searching bookkeeping services for contractors in Canada? Work with a team of awarded professionals.

Schedule a free consultation with us and discover how we can help.

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