eBooks

By , May 12, 2012 10:32 PM

What is eBooks …
eBooks is a collection of customizable financial record keeping services  with which small businesses, organizations and individuals can maintain a set of financial records.

eBooks Data Capture Services:

  • Self-serve Web Form Submission – a no charge service included with a basic eBooks subscription
  • Onsite Data Entry – a premium service costing $60.00 per hour, where we come to your site to capture transaction data (NOTE: 50 km travel limit)
  • Offsite Data Entry – a premium service costing $2.00 per transaction, where we enter transaction data from source documents at our site
  • Source Document Pick-up and Return Service – a premium service costing $60.00 per hour, where we pick-up and return your source documents (NOTE: 50 km travel limit)

eBooks Report Services:

The following reports are prepared and sent as a PDF attachments via email:

  • Transaction Report (a no cost report included with any ebooks subscriptions)
  • Quarterly General Journal Report (a no cost report included with any eBooks subscription)
  • Quarterly General Ledger Report (a no cost report included with any eBooks subscription)
  • Quarterly Financial Statements (a no cost report included with any eBooks subscription)

All other Reports cost $5.00 per report

Faxing Reports is a premium service costing $5.00 per report and is only available if you provided us with a Fax Number

Provisioning of hard-copy Reports, for pick-up at our site,  is a premium service costing $10.00 per report (notification by phone or by eMail  will be sent when your  reports are  ready for pick-up)

Report Delivery is a premium service costing $60.00 per hour where we deliver your reports to your site (NOTE: 50 km travel limit)

eBooks Processes:

Transaction Posting – 8020663 will log Transaction Source Records, Journalize the Transactions and Post them to the appropriate Journals and/or Ledgers;

Journal Posting and Maintenance – 8020663 will Total, Balance and Post Journal Entry Totals to the General Ledger;

Trial Balance – 8020663 will periodically prepare a Trial Balance Report of the General Ledger;

Payroll Administration – 8020663 will prepare and maintain aPayroll Journal including: Employee Registration, Deduction Calculations, Gross Pay Calculations, Net Pay Calculations, Cheque Preparation, Payroll Remittance Calculations, Remittance Cheque Preparation and Annual T4s and T4 Summary;

Financial Statements – 8020663 will periodically prepare a set of Financial Statements including: Balance Sheet, Bank Reconciliation, Statement of Revenues and Expenses, Statement of Working Capital;

Opening and Closing Journal Entries – 8020663 will annually prepare and post Journal Entries.

eBooks Financial Records:

Transaction Log – 8020663 will maintain and publish a Log of all transaction recorded;

General Ledger – A primary Book of Record containing a collection of accounts that represent the net value of the items identified as important to the organization. These accounts are arranged or classified as: Assets; Liabilities; Owner’s Equity/Retained Earnings; Revenues; and Expenses. The General Ledger is the source of the value items shown in the major financial statements and is maintained by posting transaction totals from Journals.

General Journal – A primary Book of Record in which transactions are recorded, summarized and posted to the General Ledger. When other specialized Journals exist the General Journal is only used for Opening Entries, Closing Entries, and miscellaneous Transaction Entries for which a specific Journal does not exist.

Sales Journal – A specialized Journal in which Sales transactions are recorded.

Accounts Receivable Sub-Ledger  – A specialized Ledger in which Credit Sales transactions and Advances are posted against an account opened for a specific individual or organization. Also posted to this sub-Ledger would be any Payments-on-Account recorded in the Receipts Journal.

Membership/Subscription Register – A specialized Ledger in which membership fees, in which Membership/Subscription transactions are recorded.

Receipts Journal – A specialized Journal in which Receipt transactions are recorded. Often when an Organization also maintains a Sales Journal, Cash Sales are recorded in the Sales Journal and not the Receipts Journal.

Deposit Register – A specialized Ledger in which Bank Deposits are recorded.

Cheque Register – A specialized Ledger in which Cheques are recorded.

Disbursements (Expense) Journal – A specialized Journal in which Disbursement transactions are recorded. Often when the Organization also maintains a Cheque Register then the Disbursements Journal does not  record Cheques.

Payroll Journal – A specialized Journal in which Payroll transactions are recorded.

Purchases Journal – A specialized Journal in which Purchase transactions are recorded.Often when the Organization does not maintain a Purchases Journal then Purchases are recorded in the Disbursements Journal.

Accounts Payable Sub-Ledger  – A specialized Ledger in which Purchases on Credit (from either the Disbursements Journal or the Purchases Journal)  and Refund Requests (from either the General Journal or the Sales  Journal)  are posted to an account opened for a specific individual or organization. Also posted to this sub-Ledger would be any Payments-on-Account issued and recorded in the Cheque Register or Disbursements Journal.

Financial Statements:

Trial Balance – A Financial Report detailing the Account Balances from the General Ledger. When maintained properly the net result of adding all the account balances together should be zero. If it does not then there is a very strong probability that one or more posting errors has occurred which need to be corrected before proceeding. NOTE: in any given fiscal year there are at least three Trial Balances performed: pre-closing; post-closing; and post opening.

Balance Sheet – A Financial Report detailing the Account Balances from the General Ledger where the Net value of the Revenue and Expense accounts are reported as a Surplus/Deficit from operations. When maintained properly the net result of adding all the account balances together should be zero. If it does not then there is a very strong probability that one or more posting errors has occurred which need to be corrected before proceeding.

Bank Reconciliation – A Financial Report that demonstrates that the Bank Account Balance reported on the Latest Bank Statement reconciles with the Bank Balance recorded in the General Ledger. This reconciliation is done by deducting from the Bank Balance reported on the Latest Bank Statement any Outstanding Cheques (Cheques recorded the the financial records that have yet to clear the Bank) and by adding any Outstanding Deposits (Receipts recorded the the financial records that have yet to deposited in the Bank). If at this point the Adjusted Bank Balance does not equal the Recorded Book Balance then there are transactions posted in error or there are transactions posted against the Bank Account that have not been recorded in the Financial Records. Any posting errors need to be corrected and any missing transactions need to be recorded before proceeding.

Statement of Revenues and Expenses – A Financial Report detailing the Revenue and Expense Account Balances from the General Ledger. When maintained properly the net result of adding all these account balances together represents the Surplus (a good thing) or the Deficit (a bad thing) from the organizations operations.

Statement of working Capital – A Financial Report indicating how much Working Capital the organization has going forward. This is calculated by taking the Bank Balance from the Balance Sheet, adding the receivables, deducting the payables, and deducting any reserves for commitments, bad debts, undeclared payables and unearned revenues. If the balance remaining does not equal or exceed the next periods anticipated expense then the organization should take pro-active steps to increase its revenues and/or decrease its expenses.

eBooks Rates and Payment Plans:

Pay-as-U-Go Service Plan – $50.00 per hour, billed in 1/2 hour increments, at the completion of awork order and payable in full within 10 business days.

Pre-purchased Service Hours – $35.00 per hour, billed at time of purchase and payable in full within 10 business days. 50% of unused prepaid hours per month are carried forward to the next month.

Late Payment Surcharge – A Late Payment Surcharge of 17% per Annum will be applied weekly on any outstanding balances not paid within 10 business days.

Cancellation Surcharge – A cancellation fee of 50% of the outstanding value of any contract or subscription will be applied prior of any refund being issued.

Return Payment Surcharge – A $60.00 Administrative Surcharge will be applied for any returned payment.

eBooks Subscriptions

eBooks Basic ($60.00 per month or  $600.00 per year when prepaid):

  • Transaction Listings sent as a PDF attachment via eMail
  • Transaction Journalization and Posting
  • Monthly General Ledger Report sent as a PDF attachment via eMail
  • Quarterly Financial Statements sent as a PDF attachment via eMail
  • Quarterly Reports sent as a PDF attachment via eMail

eBooks Lite ($40.00 per month or $400.00 per year when prepaid).
NOTE: Same services as eBooks Basic but with a limit of 15 transactions per month.

eBooks Personal ($25.00 per month or $250.00 per year when prepaid).
NOTE: Same services as eBooks Basic but with a limited Chart of Accounts and a limit of 15 transactions per month.

eBooks Plus ($80.00 per month or $800.00 per year when prepaid)
Same services as eBooks Basic plus additional journals, registers; subledgers and reports as required (ie. Membership Register; Subscriptions Register; Sales Journal; Receivables Sub-ledger; Purchases Journal; Payables Sub-ledger; GST/HST Remittance Preparation).

eBooks Payroll ($2.00 per employee per pay period prepaid annually or $4.00 per employee per pay period Pay-As-U-Go)
Payroll calculations: Pay period report showing gross pay, deductions, net pay, payroll tax remittances; annual T4s and T4 summaries; record of Employment on Employee Departure.

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