Cloud-based service across Canada
Virtual Accounting That Keeps Your Financial Work Moving
Accounting no longer has to revolve around paper files, office visits and a once-a-year exchange of documents. With a suitable cloud-based process, you can share records, review reports and work with your accounting team from wherever you operate.
Accountico provides virtual accounting and bookkeeping services to businesses and individuals across Canada. Our services can include record-keeping, reconciliations, payroll, financial reporting, GST/HST support, tax preparation, planning and ongoing accounting guidance.
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Cloud accounting tools for secure collaboration and organized records
Is it time for a different process?
Should You Switch to Virtual Accounting?
Virtual accounting can help when the problem is not a lack of effort but a process that depends on scattered documents, manual reminders and information stored in different places. It is especially useful for owners who travel, work from more than one location, manage a remote team or want more regular access to financial information.
Documents Keep Going Missing
Invoices, receipts and statements arrive through email, paper and different systems, making it hard to know whether the records are complete.
Deadlines Feel Reactive
Bill payments, payroll, GST/HST remittances or tax preparation become urgent because the supporting information is collected too late.
Reports Arrive Too Late
The owner makes decisions using the bank balance because current financial reports are not available when they are needed.
Payroll Is Becoming Complex
Adding employees creates more responsibility for records, deductions, remittances, deadlines and year-end information slips.
The Business Is Growing
More customers, accounts, employees or locations have outgrown the bookkeeping routine that worked when the business was smaller.
You Need Ongoing Support
Questions come up throughout the year, but the current accounting relationship is focused mainly on the year-end tax return.
Support tailored to the business
Virtual Accounting and Bookkeeping Services
Accountico works with Canadian small businesses, corporations, self-employed professionals and individuals. The service scope can be adjusted to the size of the organization, the state of its records and the responsibilities handled by its internal team.
Virtual Bookkeeping
Record and organize transactions, reconcile accounts, maintain supporting documents and keep the general ledger current.
Payables and Receivables
Maintain information about supplier bills, payment dates, customer invoices and outstanding balances, based on the agreed workflow.
Payroll Support
Assist with Canadian payroll calculations, records, deductions, remittances and year-end reporting where included in the engagement.
Financial Reporting
Prepare periodic reports and discuss balances, cash flow, revenue, expenses and other information relevant to management.
Sales Tax and Tax Preparation
Organize records for GST/HST and applicable sales-tax filings, as well as personal or corporate tax preparation.
Planning and Accounting Support
Use current records and reports to support budgeting, cash-flow discussions and better-informed business decisions.
What changes in a cloud-based workflow
Useful Features of Online Bookkeeping
The benefit is not simply that the software is online. The value comes from building a consistent routine around shared information and appropriate controls.
- Access from more than one location: authorized users can work with current information without relying on one office computer.
- Bank and application connections: compatible systems can import transaction data and reduce some manual entry.
- Recurring processes: invoices, reminders, bills and reports can be scheduled or partly automated where appropriate.
- Shared collaboration: owners, employees and accounting professionals can work from the same underlying system.
- Controlled permissions: access can be limited according to each person’s responsibilities.
- Current reporting: reconciled records can support more timely financial reports.
- Remote meetings: reports and questions can be reviewed by video, phone or secure online channels.
A practical automation rule
Automation can reduce repetitive work, but it does not make accounting error-free. Imported transactions still need suitable account mapping, reconciliations and human review.
A duplicated bank feed, incorrect tax code or improperly matched transaction can produce the same error repeatedly. Good virtual accounting combines useful technology with a clear review process.
The software handles repetition. People remain responsible for judgment, oversight and the completeness of the records.
A simple working relationship
How Virtual Accounting Can Work
01
Assess
Review the business, current records, software, deadlines and responsibilities.
02
Set Up
Agree on the software, document flow, permissions, communication and monthly schedule.
03
Maintain
Collect records, post transactions, reconcile accounts and address missing information.
04
Report
Deliver agreed reports, discuss questions and prepare for upcoming filings or decisions.
Who can use virtual accounting?
Support Across Different Industries
A remote service model can work across many sectors, provided the accountant understands the business’s transaction flow, reporting needs and industry-specific obligations.
Accountico can tailor the bookkeeping and accounting workflow rather than forcing every client into exactly the same package.
- Retail and e-commerce
- Manufacturing and distribution
- Legal and professional services
- Real estate businesses
- Medical and health professionals
- Consultants and entrepreneurs
- Self-employed individuals
- Information technology businesses
- Trades and service businesses
- Small and medium-sized corporations
Security requires shared responsibility
Cloud Accounting and Financial Data Security
Cloud software can provide useful security, backup and recovery features, but no platform makes information automatically or permanently safe. The software provider, the accounting firm and the client each have responsibilities.
Businesses should review the provider’s security and data-location terms, use strong account controls, limit access and retain appropriate backups. They must also continue meeting applicable privacy and record-keeping requirements.
The CRA permits electronic records, but the business remains responsible for retaining complete, readable information and making it available when required—even when a third party maintains the records.
Useful safeguards
- Multi-factor authentication
- Unique user accounts
- Role-based access permissions
- Prompt removal of former users
- Secure document exchange
- Encrypted, tested backups
- Device and software updates
- Review of access logs where available
Comparing service models
Virtual Accounting vs. Traditional In-Person Accounting
Neither delivery model is automatically better. The right choice depends on how your team works, the systems already in place, the sensitivity of the information and the level of in-person contact you prefer.
Why Accountico
A Virtual Accounting Relationship Built Around Real Work
The value of a virtual accountant is not simply being online. It comes from keeping the records moving, following up on missing information, preparing useful reports and being available when accounting questions arise.
Accountico’s service can scale as transaction volume, payroll, reporting and filing needs change. The scope is agreed in advance so responsibilities are clear.
- ✓ Service available to clients across Canada
- ✓ Bookkeeping, accounting, payroll and tax support
- ✓ Cloud-based document and accounting workflows
- ✓ Service scope tailored to the business
- ✓ Controlled collaboration with owners and team members
- ✓ Year-round continuity instead of tax-season-only contact
Frequently asked questions
Virtual Accounting Services FAQ
What is a virtual accountant?
A virtual accountant provides accounting services remotely using cloud software, secure document exchange, phone or video meetings and online communication. The work can include bookkeeping, payroll, reports, sales-tax support and tax preparation, depending on the engagement.
Is virtual accounting only for online businesses?
No. Retailers, professional practices, trades, health professionals, real estate businesses, manufacturers and many other organizations can use virtual accounting. The important question is whether the business can maintain an effective digital workflow for its records and approvals.
Is cloud accounting automatically secure?
No system is automatically secure. Cloud providers and users share responsibility. Businesses should assess the provider, enable multi-factor authentication, control user permissions, protect devices, use secure document exchange and maintain appropriate backup and recovery practices.
Do I still need to keep records if a virtual accountant maintains my books?
Yes. Outsourcing does not transfer the business’s legal responsibility for maintaining and retaining adequate records. Electronic records must remain complete, readable and available when required. Your accountant can help establish an organized process, but management remains responsible for the business’s records.
Can employees have limited access to the accounting system?
Many cloud accounting applications provide user permissions. Access can often be limited according to job responsibilities—for example, invoicing, expense submission or reporting. Permissions should be reviewed regularly and removed promptly when a person no longer requires access.
How do we move from paper-based accounting to a virtual service?
The transition usually begins with reviewing the existing records and software, selecting a suitable cloud platform, organizing opening balances, establishing a document-submission process, setting user permissions and agreeing on a recurring schedule. Historical cleanup may be needed before the new process is fully current.
Information note: This page provides general information, not accounting, tax, privacy, legal or cybersecurity advice. Software, access, record-retention and security requirements should be assessed for your business and regulatory environment.
Make the process easier to maintain
Find Out Whether Virtual Accounting Fits Your Business
Tell us which accounting tasks are taking too much time, which deadlines create stress and what information you want to receive more regularly. We can discuss a practical virtual service scope.