Ambient Bookkeeping ECL

Bookkeeping services provided by experienced owner operators who care about delivering quality.

Professional Bookkeeping

Professional Bookkeepers – what does that mean?


Professional bookkeepers have certification demonstrating that they have achieved a level of competency in general bookkeeping knowledge. That certification also demonstrates a commitment to ongoing training and professional development, and a commitment to operate professionally and ethically. Professional bookkeepers have a place of business, insurance and are registered with WCB.


Professional bookkeepers are knowledgeable in labour standards, payroll processing, remittance requirements for payroll, GST, and WCB. They understand the accounting standards under which an entity operates and are therefore able to record complex transactions correctly.


Professional bookkeepers undertake ongoing professional development training and stay current on industry trends and software developments. Professional bookkeepers provide a career path to their employees, including benefits, and in the case of our cooperative an ownership opportunity.


In short, professional bookkeepers provide you with the confidence that no matter what the challenges your organization may be faced with, having your financial records up to date and accurate will not be one of them.


Professional Bookkeeping Means a Healthy Organization


Incorporated entities have Directors who require regular financial and compliance monitoring reports along with updates on programs and other activities. Directors demonstrate due diligence and good governance when they receive and review these reports.


This requirement for reporting to the Directors means that everything needs to get done that needs to be done. The reconciliations need to be done; The reports need to be submitted; The documents need to be filed so they can be found again; and all contributing to a healthy and well-functioning organization.


As professional bookkeepers we understand these things and do our part to get the month-end routines completed and the reports prepared, accurately and on time.


Professional Bookkeeping for Not-for-Profit Organizations


Not-For-Profit Organizations use the Accounting Standards for Not-For-Profit Organizations (ASNPO). For Not-For-Profit Organizations there is a need to match the source and use of revenues received by the source, the intent, and the timing of its use.


There are also many Not-For-Profit Organizations that have multiple funds and many in situations where funding agencies require financial statement schedules that report on specific programs.


We provide professional bookkeeping to ensure that all transactions are recorded properly to ensure that the reporting needs of the ASNPO and the funding agencies can be achieved.


Professional Bookkeeping for Municipalities


Municipalities follow accounting standards known as the Public Sector Accounting Standards (PSAS) that are supplemented by Ministry recommended disclosure templates that must be followed for the financial statements.


In addition, Municipalities are obliged to follow the procedural requirements and specific financial disclosure that are written into municipal legislation along with additional direction provided by Ministry policy.


We are professional bookkeepers that understand municipal bookkeeping requirements and will work with you to ensure that your internal reporting and external reporting obligations are met.


Professional Bookkeeping for Cooperative Entities


Cooperative corporations have unique ownership structures. Cooperative corporations are generally profit generating entities, but profits are not the sole purpose for operating. Rather, cooperative corporations are driven by the common purpose and interest of the members, and the profits that result are both distributed to the members and reinvested to continue the common purpose.


We are professional bookkeepers who happen to be a cooperative corporation, and we understand the bookkeeping needed to record transactions related to investments, member equity, and patronage allocations for cooperatives.


Professional Bookkeeping for Private Corporations


Private corporations use the Accounting Standards for Private Enterprises (ASPE). We know the ASPE standards and record transactions accordingly so that your information is in good order to facilitate the preparation of the year-end financial statement and tax return.


However, private corporations have a more specific focus on the day-to-day revenue generating activities of their operations. Billings, payroll, inventory, and cash flow management are the immediately important things. That means getting these bookkeeping activities done promptly and accurately is important.


As professional bookkeepers we understand the business needs of private corporations and know our part. We ensure that the bookkeeping for the day-to-day operating activities is completed when needed, then we get the month-end done.