Frequently Asked Questions

Do I need to use QuickBooks Online?
Yes. Chestnut Bookkeeping works exclusively with QuickBooks Online to provide secure, cloud-based bookkeeping that you can access anytime. 

How do I send you my documents?
You'll be given access to a secure online system where you can upload receipts, statements, invoices, and other supporting documentation needed for your bookkeeping. 

What if my books are really behind?
That's exactly what our Catch-Up & Clean-Up Service is for. We'll review what needs to be completed and help bring your books up to date before transitioning to ongoing monthly bookkeeping.

Catch-up and clean-up work is quoted separately based on the condition and complexity of your books.

Do you only work with businesses in Toronto?
No. Chestnut Bookkeeping is 100% virtual and provides bookkeeping services to service-based businesses in Toronto and across Ontario. 

How much does bookkeeping cost?
Monthly bookkeeping pricing is based on the size, complexity, and bookkeeping needs of your business. Your monthly fee and agreed scope of services will be clearly outlined before we begin.

Work requested outside of the agreed monthly bookkeeping scope may be billed separately.

Why hire a bookkeeper instead of an accountant?
Bookkeepers and accountants play different but complementary roles. 

• A bookkeeper manages your day-to-day financial records by organizing transactions, reconciling accounts, maintaining accurate books, and preparing regular financial reports.

• An accountant typically handles areas such as year-end accounting, tax planning, compliance, and other accounting or tax matters.

• Keeping your bookkeeping accurate and up to date throughout the year provides your accountant with organized financial records when they need them.

What is included in monthly bookkeeping? 

Monthly bookkeeping may include transaction categorization, bank and credit card reconciliations, Accounts Payable and Accounts Receivable reporting, HST/GST tracking and reports, and monthly financial statements.

Your specific services will be outlined in your bookkeeping agreement based on the needs of your business.

Is Chestnut Bookkeeping 100% virtual? 

Yes. All bookkeeping services are provided remotely using QuickBooks Online and secure digital document sharing. No in-person bookkeeping services are required. 

Do you offer one-time bookkeeping services? 

Chestnut Bookkeeping is primarily focused on building long-term relationships with businesses that need ongoing monthly bookkeeping.

Catch-up and clean-up services are also available for businesses that need to bring their books up to date before beginning ongoing monthly service.

Ready to take bookkeeping off your plate? 

Book your free 30-minute Consultation Today.