FAQs
Bookkeeping questions, answered
Straight answers on cost, taxes, contracts and software. If yours isn’t here, send us a note.
How much does a bookkeeper cost in Calgary?
Monthly plans with AccountingMD start at $295/month. Use the price estimator on the pricing page for a typical range.
Who prepares my taxes?
Your accountant. We work alongside them: we keep your books and prepare a year-end package they use to file your taxes. Need an accountant? We can refer you to some great CPAs.
My books are behind or messy. Can you help?
Catch-up and cleanup work is handled by our sister site, RescueBookkeeping.ca. Once your books are current, we can take over with monthly bookkeeping.
Is there a contract?
No long-term contract. Monthly plans are month-to-month, and you can cancel any time with 30 days’ notice. There’s no onboarding fee for monthly plans.
What is full accrual accounting?
Full accrual accounting records income when you earn it and expenses when you incur them, not only when money moves in or out of the bank. Unpaid customer invoices (accounts receivable) and unpaid bills (accounts payable) are tracked in your books. Your reports then show what you have truly earned and what you owe each month. It is included in the Growth and Plus plans.
What is modified accrual accounting?
Modified accrual accounting sits between cash and full accrual accounting. Money owed to you is tracked the accrual way: when you invoice a customer, the sale and the amount they owe you (accounts receivable) are recorded, even before you are paid. Expenses are tracked on a cash basis: they are recorded when you pay them. Smaller businesses often choose this method because it is budget friendly and accurate enough for their purposes. It is included in the Essentials plan. If you also want unpaid bills tracked, the Growth and Plus plans include full accrual accounting.
Which software do you use?
QuickBooks Online and Xero.
Do you meet in person?
Most work is done online. We serve Calgary and the surrounding area.
Still have a question?
Book a free health check and we’ll review your books and answer it.