Virtuous Bookkeeping

BACKGROUND

Please describe your company and your position there.

I am a partner at G Web Pro Marketing focusing on Business Development.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Virtuous Bookkeeping?

We hired Virtuous Bookkeeping to handle the the complete bookkeeping for G Web Pro.

What were your goals for this engagement?

The goals were to ensure we were financially organized, meeting all government compliances and to get a better picture of our profit and loss each month.

SOLUTION

How did you select Virtuous Bookkeeping?

We did a search online and found a few companies, we contacted all of them. Virtuous Bookkeeping was very responsive and they had the best reviews online, the prices were also very competitive.

Describe the engagement in detail.

After the initial sales call, they sent us a service agreement which we completed online. After that we had an onboarding call with their team where they setup Quickbooks Online for us as the accounting software and Hubdoc for the cloud document storage. We further discussed our requirements and current pain points.

They reviewed and came up with solutions for our pain points and presented us with a further understanding of the process they will be following and clearly outlined our responsibilities. At the end they were responsible for the complete bookkeeping, this included bank and credit card reconciliations, AR reports and AP Reports, HST calculation, payroll and producing monthly financial statements. They were also engaged to do our year need tax filing aswell.

Describe their billing or cost structure.

They charged us a monthly fee and this was charged automatically to our credit card each month. They also charged a one -time fee each year once our taxes were ready to be filed.

What was the team composition?

We have a designated Account Manager and the account manager has a team of 5 which reach out to us for some clarification. Our main point of contact for the larger items is the Account Manager.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

Our onboarding was completed within 2 weeks and the new process for bookkeeping was in full effect within this time aswell.

How effective was the workflow between your team and theirs?

They have great systems in place which allowed for ease of information sharing. They were in touch each month to discuss details needed to produce our monthly financial reports.

What did you find most impressive about this company?

The business model for being a virtual bookkeeping company was great and the fact that all of the work was completed within a team environment rather then relying on a single individual as we were doing prior when working with a freelancer.

Are there any areas for improvement?

The Hubdoc system they used required to be reconnected to our bank quite frequently which was a bit of a nuisance.