Ledgers is a National Network of Accounting and Tax Professionals providing a comprehensive suite of services to small businesses, their owners, and the general public. With services ranging from basic bookkeeping to business plans, corporate tax, personal tax, and payroll services, Ledgers is the one-stop source for the financial needs of small business owners.
Using State of the art Cloud Technology, we modernize and automate the accounting and bookkeeping systems of small businesses.
Tell us about yourself?
I began accounting in 1989 when I decided a career change was necessary; being young and married with three children, working as a chef was just not economically feasible. I returned to school and entered the CGA (Certified General Accountants) Program. Upon completion, I began working in the corporate environment in positions ranging from accounts payable clerk to Chief Financial Officer.
If you could go back in time a year or two, what piece of advice would you give yourself?
Make sure you have time for personal adventure and maintain a work-life balance.
What problem does your business solve?
The vast majority of small businesses do not take their bookkeeping and tax reporting requirements seriously. The owners are so focused on running their businesses that they neglect to keep an eye on the financial aspects and CRA reporting requirements. By the time they realize they are in trouble, it is usually too late.
What is the inspiration behind your business?
Being an accountant, I realized the need for quality, affordable bookkeeping and tax reporting. The industry is comprised of ‘bookkeepers’ that have little or no formal education and large firms that tend to take advantage of their clients with high prices. The Ledgers model puts the needs of the client first and offers low, fixed-fee monthly pricing and provides a complete service.
What is your magic sauce?
The typical small business owner usually has a ‘bookkeeper’ – sometimes their spouse or a friend that may know how to use a bookkeeping program – and a payroll service provider that ensures the employees are paid, and then everything goes into boxes at year-end for delivery to the accountant. After several months, they get back tax returns for filing with the CRA.
The Ledgers model allows the clients to have a single point of contact and to provide a complete financial reporting solution. Our 100 per cent cloud-based system allows them to have access to their financial information from virtually anywhere and at any time. The reports are always up-to-date and accurate. There is no need to deal with three different service providers when the local Ledgers Professional does it all.
What is the plan for the next 5 years? What do you want to achieve?
Our core mandate is growth. The market is in great need of the services provided by Ledgers Professionals. With the current state of the economy and stresses on small businesses as a result of the Covid-19 pandemic, there has never been a greater need for our service.
We expect to see significant growth, reaching 75 locations in Canada within the next five years.
What is the biggest challenge you’ve faced so far?
Our greatest challenge is perception. Small business owners have been brainwashed by software providers into believing that anyone can do bookkeeping. This tough process has created a serious problem in the marketplace. The small business owner places little to no value on bookkeeping and believes their accountant can wave a magic wand at year-end and make everything better. They fail to realize that bookkeeping is the core of their financial reporting, and by the time the accountant may find an issue, it is too late to correct it. Once the CRA finds an issue, it is next to impossible to correct and becomes extremely costly for the small business owner.
How can people get involved?
Ledgers is here to assist small business owners with their financial reporting requirements; with 50-plus locations across Canada, we have a location near you. Call 1-855-LEDGERS for your local Ledgers Professional, or email [email protected]
If you are an accountant or bookkeeper looking to grow an Accounting and Tax business, contact [email protected]