Our Process

At Digits & Decimals™, we set the highest standards for ourselves and our business. When you choose to work with us, we’re also choosing to work with you. The first step in getting started is your understanding and acceptance of our Terms of Engagement.

Digits & Decimals™' Terms of Engagement

We enter transactions according to Generally Accepted Accounting Principles (GAAP)

We enter expenses only from original receipts. We will not enter expenses directly from the bank/credit card statements. Any transaction on your statements that we are not provided a receipt for will be posted to the owner/shareholder withdrawal account respectively until proper receipts are provided as per government regulations.

Payroll will be processed according to the B.C. Employment Standards – no exceptions.

To minimize our fees and reduce delays in processing your transactions, we expect you to reply to our communications within a maximum of two days.

Payment priorities are: payroll, government remittances, rent or lease, other vendors and suppliers.

How We Work

Phase I: Analyzing Your Needs

There are so many different types of businesses, all with unique needs and expectations requiring any one or all of the services we offer. As a first step in our work together, we ask that you fill out a Client Profile form where you tell us about your business, your needs and expectations.

Then, we ask that you set aside approximately 30 minutes, either in person, or on the phone, to review this form with one of our senior staff members.

During this time, we will review Digits & Decimals™' Terms of Engagement. When you are in agreement with all of our terms, we will then proceed to the next step.

Review your company’s current system
Our team will assess the amount of work involved and determine an initial agreed upon fee structure. Together, we will determine how best to set up or refine your basic bookkeeping, financial transaction processing, and filing systems in a way that suits the nature of your business and working style.

Phase II: Fine Tuning our Arrangement

After a few months of working together, we will have a good idea of how many transactions we will be processing so we can provide you with a more accurate estimate of your monthly bookkeeping and other general accounting support services.

For both Phase I & II, we will work on a hourly basis, as we will not know the extent of the work involved until we are actively engaged in it.

Phase III: Creating an Ongoing Contract (or similar)

At this point, you decide whether you want us to continue to take care of your bookkeeping, and/or other general accounting support systems (i.e.: payroll processing). If so, we sign a contract that states a set fee for ongoing services. Otherwise, we will leave you with our final recommendations regarding your bookkeeping and general accounting systems.

How Long Will It Take?
The irony is that it is faster for us to create a whole new system than to re-organize and/or fine tune an existing business’ financial record processing and storage system.

The specific amount of time your business will require will depend on
four key factors:

Nature of your business
Level of knowledge of bookkeeping and general accounting you or your staff have.
Availability of administrator/operations manager/owner
Willingness to embrace recommended changes.

Digits & Decimals™: We ensure that you and your staff can move from your old system to your new one in an efficient and seamless manner.