Planning your bookkeeping &
advisory needs.
Practical details regarding our bookkeeping routines, CPA firm collaboration terms, software security, and Canadian compliance requirements.
Bookkeeping & monthly reporting
How do I know which bookkeeping or advisory service I need?
During our initial consultation, we review your current record status: whether you are catching up on overdue years, establishing payroll for new employees, or seeking monthly turnkey management. We clearly recommend only the scope required to achieve compliance and clarity.
Can we work together completely remotely across Ontario and Canada?
Yes. ML Financials operates securely in the cloud. We utilize encrypted document sharing portals, direct read-only bank feeds, and video conferences to support clients in Ottawa, the National Capital Region, and throughout Ontario and Canada.
How frequently do you update our general ledger?
We maintain accounts on a weekly, bi-weekly, or monthly cadence depending on your business transaction volume, ensuring your reports are always current and bank balances reflect reality.
Do you maintain books under cash or accrual accounting?
We maintain books under the accrual method in accordance with ASPE (Accounting Standards for Private Enterprises), ensuring proper matching of revenues and expenses across fiscal periods.
For CPAs & accounting practices
How does ML Financials partner with CPA and accounting practices?
We act as an accredited back-office extension for CPAs. We maintain monthly general ledgers, reconcile balance sheet accounts down to the dollar, and compile clean Caseware working papers with lead sheets and depreciation schedules. We sign written non-solicitation covenants to ensure your client relationships remain completely protected.
Do you sign a formal written Non-Solicitation Covenant?
Yes. Every firm collaboration is governed by a legally binding Non-Solicitation and Confidentiality Agreement. We specialize strictly in bookkeeping, payroll, and controllership—we never solicit or compete for your tax preparation, compilation assurance, or corporate planning mandates.
In what format do you deliver year-end files to our firm?
We provide complete Caseware-compatible trial balance exports (.csv / .cwk), indexed PDF working paper binders with hyperlinked source documents, and detailed lead sheets (A through U) with explanatory adjusting journal entry notes.
How do you handle post-closing CPA adjusting journal entries (AJEs)?
Once your firm finishes your compilation and generates year-end AJEs, we promptly book them into the client's general ledger (QBO / Xero / Sage) to ensure retained earnings and opening balances match your corporate tax filing perfectly.
Accounting systems & client data protection
What software tools and accounting systems do you support?
We support major Canadian accounting platforms including QuickBooks Online, Xero, and Sage 50 for core ledgers; Wagepoint for automated payroll; Dext Prepare and Hubdoc for receipt management; and Caseware Working Papers for year-end compilation packages.
Are my financial and corporate tax records secure?
Yes. All client records are processed using bank-grade 256-bit SSL encryption, SOC-2 compliant Canadian cloud infrastructure, and strict CPB Canada confidentiality protocols. We never ask you to send Social Insurance Numbers or bank passwords via unencrypted email.
What should I prepare for our first discovery meeting?
You only need an overview of your business activities, your current accounting software (or spreadsheets), and any upcoming filing deadlines (HST, corporate year-end, or payroll). Please do not send sensitive personal details (such as SINs or banking passwords) in your initial inquiry.
Catch-up bookkeeping & CRA reviews
Can you help clean up messy or overdue QuickBooks or Xero files?
Yes. Cleanup and catch-up accounting is one of our key specializations. Whether you have 6 months or 3+ years of backlog, we systematically reconcile every month, eliminate suspense discrepancies, and produce audit-ready statements.
What happens if I have lost many of my physical paper receipts?
We help you pull historical electronic bank data, merchant processor archives, and contact major vendors for duplicate invoices to substantiate your expenses and maximize eligible Input Tax Credits.
Will you communicate directly with CRA on our behalf?
Yes. With formal Represent a Client authorization, we can communicate directly with CRA agents to request extensions on review deadlines while we bring your file up to date.
Let's discuss your bookkeeping & tax needs.
Tell us your entity type, tax years, and current accounting setup. Prepare a consultation inquiry or contact our certified bookkeeping team directly to discuss availability and engagement scope.
Direct Line: (873) 288-1923
Official Email: accounting@mlfinancials.ca
Practice Office: Suite 100, 310 Miwate Private, Ottawa, ON K1R 0E2
Before you send
Please provide a brief description of the bookkeeping or advisory assistance you need. Do not email SINs, passwords, banking credentials, or sensitive tax documents in your initial message.
Upon mutual agreement and engagement confirmation, we will provide a private, SOC-2 compliant client upload portal for secure document sharing.
Information on this website is general and is not individualized tax or legal advice. Engagements are subject to client acceptance, agreed scope of work, and applicable CPB Canada professional standards.