Frequently Asked Questions
At Tantelo, we use the system that you are most comfortable with, though we recommend either Quickbooks Online or Xero. Our bookkeepers are well-versed in using the major online-based accounting software programs.
We have clients in a variety of industries, ranging from technology start-ups to product distribution, retail and apparel, restaurants, management consulting companies, and publicly traded development-stage companies. We cater to small and medium size operations and owner-managed businesses, who have the flexibility of working in the cloud with remote bookkeepers. Our smallest clients require only a few hours per month of upkeep, and our largest requiring an almost full-time bookkeeping person, including on-site service.
Most of our clients simply email everything over to us on a piecemeal basis, including sales invoices, bank statements, supplier invoices and receipts. We use cloud-based accounting software packages such as Quickbooks Online and Xero, which allows our clients and employees to simultaneously access the accounting system, update transactions and pull reports.
When forwarding or emailing documentation to us, you can simply provide a few notes on the basis of the transaction. We will do our best to allocate the transactions to the best of our ability. If we run into questions, we will compile a list to go through together.
The team at Tantelo is led by a Canadian Chartered Accountant, supported by CPA (Chartered Professional Accountants) candidates and ACCA qualified members (Association of Chartered Certified Accountants).
Our head office is located in Vancouver, Canada. As a client, you will be corresponding with an Account Manager based in Canada. We are available for in-person meetings, if you are locally-based, or phone conferences otherwise. Our subsidiary operations is based in Colombo, Sri Lanka, which has a vast resource pool of qualified accountants (ACCA Members). We are proud to invest in and partner with the fastest growing city amongst 132 global cities, with 21.1% CAGR between 2009 and 2015, according to a recent MasterCard report.
Yes, we perform year end taxation services for corporations and sole proprietors through our sister company, LFG Accounting and Advisory Ltd, a Member of the Institute of Chartered Accountants of British Columbia.
If you already have a bookkeeper, we can work with them to supplement their output and provide another layer of CFO services, including procuring debt or equity, investor packages, cash flow projections, budget to actual analysis, variance analyses, internal and external financial reporting, and process improvements.
We will ensure continuity of your bookkeeping is kept intact if you decide to switch the bookkeeping function or your accounting system part-way through a fiscal year. All we need is your last trial balance or tax return and we can either continue booking the transactions with your current system, or roll forward the last trial balance to a new system.
Typically we require your bank statements, and last reconciled trial balance as a basis for getting started. If you do not know when (or where) your last trial balance is, you can provide us with your last filed corporate tax return, and we can start building from there.
In order for us to maintain a low-cost service, we seek to minimize collection costs by requiring a credit card upon registration. Please contact us if you do not have a credit card available for payment and we can sort out alternative methods.
We provide payroll services for Canadian companies for an additional charge. This includes calculating the payroll source deductions and the monthly source remittance forms.
Absolutely. We have tried to provide simplified value pricing options, however even the SOLO pricing tier may be too much for some of our start-up clients. In this case, they are under the Pay Your Way pricing plan, which is billed on a per-hour basis.
As our accountants operate remotely, we are able to service US and global clients. We recommend using either the international version of Xero or Quickbooks. A portion of our software development clients are based in the US as well as overseas in Hong Kong, Thailand and Singapore.
Bank feeds are automatically fed daily from your financial institution to Quickbooks Online or Xero. Once pushed into the Quickbooks, our accountants will apply the appropriate accounting treatment whether it is a deposit from a customer or a cheque to a supplier. Credit card statements can also be linked directly, and the expenses are categorized accordingly. If our bookkeepers run into any issues where further clarification is needed, these questions will be accumulated and sent to you periodically. At the end of the month, the bank accounts are reconciled in the accounting system.