Frequently Asked Questions
Everything You Need to Know
Straightforward answers to the questions business owners ask before
outsourcing their bookkeeping — from monthly workflows and catch-up work
to reporting, software, pricing and getting started.
Getting StartedWhat onboarding looks like, what we need from you, and how the process begins.
Monthly BookkeepingHow reconciliations, AP/AR and reporting fit into a dependable monthly routine.
Catch-Up & Clean-UpWhat happens when the books are behind, incomplete or need to be reorganized.
01What exactly does MAK Finances handle each month?
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We can support the recurring bookkeeping work that keeps your records current and useful. Depending on your agreed scope, this may include transaction categorization, bank and credit-card reconciliations, accounts payable, accounts receivable, month-end review and management financial reporting. We tailor the workflow to your business rather than forcing every client into the same package.
02My books are months — or even years — behind. Can you fix them?
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Yes. Catch-up and clean-up bookkeeping is designed for businesses that have fallen behind or have records that need attention. We review the available information, identify gaps, reconcile the relevant accounts and organize prior periods so the books can move forward on a cleaner foundation.
The amount of work depends on how many periods are outstanding, transaction volume and the condition of the existing records.
03What information do you need from me to get started?
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We normally begin by understanding your business, current bookkeeping process and the scope of support you need. From there, we identify the records and system access required — for example, accounting-software access, bank or credit-card information, invoices, bills and other supporting documents relevant to the agreed work. We aim to make the hand-off organized and practical.
04Do you work with QuickBooks Online?
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Yes. We support businesses using QuickBooks Online for ongoing bookkeeping, reconciliations and reporting. We can also review how the books are currently organized and help establish a cleaner bookkeeping workflow where needed.
05How often should bookkeeping be completed?
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For many businesses, a structured monthly bookkeeping and reconciliation cycle provides a good foundation for reliable reporting. Businesses with higher transaction volumes, more active receivables/payables or faster reporting needs may benefit from more frequent attention. The right cadence depends on how your business operates.
06What financial reports can you provide?
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Depending on the engagement, reporting can include core management information such as the income statement, balance sheet, accounts receivable or payable aging, and other management-focused reports. The objective is not simply to produce reports, but to give you organized financial information you can actually use to understand the business.
07How much does bookkeeping cost?
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Pricing depends on the scope of work, transaction volume, number of accounts, reporting requirements and whether catch-up or clean-up work is required. We first learn how your books currently operate, then provide a clear scope and pricing based on the work involved.
Book a consultation if you would like us to review your situation before discussing a quote.
08Do you only work with businesses in Edmonton?
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No. MAK Finances is based in Edmonton and can provide remote bookkeeping support to businesses across Canada. Cloud-based accounting and secure digital workflows allow much of the bookkeeping process to be handled without requiring you to be in the same city.
09Do you prepare personal or corporate income tax returns?
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Our focus is bookkeeping, reconciliations, AP/AR, month-end support, financial reporting, budgeting and cash-flow support. We do not position our service as personal or corporate income-tax return preparation. Clean, organized books can, however, make it easier for you and your tax professional to work from reliable records.
10What happens after I become a monthly bookkeeping client?
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Once the scope and access are established, we create a recurring workflow for receiving records, maintaining the books, completing reconciliations and delivering the agreed reporting. The goal is consistency: fewer surprises at month-end and a clearer picture of your financial records throughout the year.
11Can you help with accounts payable and accounts receivable?
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Yes. We can support the bookkeeping side of accounts payable and accounts receivable, including organized vendor/customer records, bill or invoice tracking and visibility over outstanding balances, according to the scope agreed for your business.
12How do I know whether I need monthly bookkeeping or a catch-up project first?
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If your recent periods are reconciled and records are current, ongoing monthly support may be the appropriate starting point. If accounts have not been reconciled, transactions are missing or several periods are incomplete, a catch-up or clean-up project may be needed first. We can review the current state of the books during the initial conversation and recommend the appropriate sequence.