Finatics about accounting
so you don't have to be!
WHO WE ARE
Finatics Accounting Solutions Inc. (Finatics) works with small and medium sized enterprises to provide reliable, efficient, and affordable accounting solutions, while implementing systems and controls to allow for growth. The Finatics team provides a full range of accounting expertise. Since all organizations are unique, Finatics tailors our solutions packages to each organization’s needs. We understand that accounting is not generally fun for most people, but we are Finatics about accounting, so you don’t have to be!
HOW WE CAN HELP
We provide solutions to match your organization’s needs
We provide full-cycle accounting solutions such as, A/P, A/R, payroll, inventory management, regulatory filings, etc. In addition, we track and report on non-financial information as required to provide valuable insight regarding your business metrics.
Virtual CFO (VCFO)
We provide VCFO solutions which entail financial and operational analysis, internal management reporting, budgeting, implementing processes and risk mitigation strategies. We also work closely with your external accountant on year-end audit and tax preparation.
We provide a full assessment of accounting processes, including how they directly interact with operations, and provide recommendations to streamline and/or automate processes. Our objectives are to provide timely, cost effective and reliable financial information by utilizing efficient workflows and appropriate technology.
INDUSTRIES WE SERVE
No company is exactly the same. At Finatics Accounting Solutions we tailor our solutions to your specific needs. Most solutions comprise of accounts receivable, accounts payable, payroll, month-end processing, regulatory compliance, financial reporting, key performance indicators and year-end file preparation. In addition to these (and many other solutions), we have listed some key solutions for particular industries below.
Inventory tracking, capital assets, cash flow management and costing metrics.
Inventory and cash flow management
Board reporting and government compliance reporting
Inventory management, capital assets, and cost per metrics.
Cash flow management and regulatory filings.
Trucking and Freight Carriers
Capital asset and cash flow management.
Meet Your Team
Michael Haight CPA, CGA
President and VCFO
Michael began his accounting career at the age of six, when he would count and track all of his coins – even making charts and putting them on his wall. Before too long he was calculating running distances and times as well as baseball batting averages and fielding percentages. His love for numbers continued to grow when he saw his favourite TV character on TV, Michael P. Keaton on Family Ties, had a passion for economics.
Michael completed his CGA Designation in 2006 (now CPA Designation) and has experience in Agriculture, Food Production, Not-for-Profit (Housing), Government, Transportation, and Manufacturing. Throughout his career, he has taken the lead on the establishment of new controls and processes and effectively streamlined internal processes to improve the efficiency of month-end closing and reporting.
Michael, who quickly learns new software programs, has been involved in the setup and implementation of multiple major software conversions. He’s come a long way from counting his pennies (when we still used pennies!), having been responsible for budgets upwards of $256M. When he’s not working, Michael enjoys spending time with his wife and two young children…and don’t get him started talking about his fantasy baseball keeper league!
Kerry Foster CPA, CGA
All through her early school years, Kerry knew she had an affinity for math and enjoyed working with numbers. By the time she was a teen, she knew she was going to go into accounting.
Kerry holds her Bachelor of Accounting Science degree as well as her designation as a Chartered Professional Accountant (CPA). Additionally, she has advanced certification in Quickbooks and other reporting and cash-flow software.
When she joined Finatics as Virtual CFO, Kerry brought with her many years of experience leading large teams for public and private enterprises across diverse sectors, including transportation and housing. Her most recent position was Director of Financial Services for the Government of Manitoba.
When she’s not working with numbers or reading a good book, you’ll likely find Kerry and her husband walking their lively little West Highland White Terriers Lexi and Cosmo.
Frequently Asked Questions
Why should I outsource my bookkeeping?
There are many benefits to outsourcing your accounting/bookkeeping functions, some of which include:
- Cost effective way to have a CPA on your team.
- Provides the option for part-time hours that are difficult to fill in-house with the appropriate expertise.
- The outsourced team will be able to provide a variety of expertise.
- Ad-hoc services can be added when needed for project based work, without impeding day-to-day operations.
- Consistent staffing levels help avoid costly downtime associated with hiring and training new staff, handle seasonal fluctuations where additional staff may be required for a short period of time, and reduce downtime associated with staff sick leave and vacations.
I never look at my financial statements because they are confusing and overwhelming. Can you help me with this?
Yes, at Finatics we present your financial reports in a method that is easily understood. We will meet with you to review and provide detailed explanations (without using all the Accounting lingo) and help you gain a level of comfort and understanding.
If I hired Finatics services, would I need to purchase software?
Not necessarily. It depends on the software currently being used by your company and whether or not it is meeting/exceeding your needs. We will work with your existing software and can make recommendations for alternative systems that may be more effective. At Finatics we have experience with numerous software programs, including QuickBooks Online, Microsoft Dynamics GP, Sage 50, and others.
Are your services charged on an hourly or fixed rate basis?
At Finatics we tailor our solutions to each companies’ needs. We currently offer the following billing methods:
- Flat/Fixed Rate Pricing
- Hourly Rates
- Variable Rates (depending on seasonal fluctuations and volume)
What is a VCFO?
A Virtual Chief Financial Officer (or VCFO for short) is a senior-level accounting professional who usually —but not always — holds the Chartered Professional Accountant (CPA) designation.
With a strong background in accounting and finance at a senior level, a VCFO has the expertise to provide business insight by analyzing financial statements, developing Key Performance Indicators (KPIs), customizing reports, creating budgets, financial planning, and cash flow forecasting.
A VCFO usually handles more complex accounting transactions such as job costing, inventory management, and tracking of non-financial data/metrics
What does a Virtual Bookkeeper do?
A bookkeeper prepares your accounts, recording your day-to-day transactions, such as bills, payments, invoices, deposits, and bank transfers. A Virtual Bookkeeper does all of the same things, but thanks to advances in technology, can do this remotely for businesses anywhere across Canada.
Virtual Bookkeepers can process timely and accurate transactions when businesses quickly email a scanned copy or photograph of any receipt or invoice using secure electronic document management applications — such as Receipt Bank (our preferred app), Hubdoc, Receipt Bot, or other apps. It’s also possible to have documents like phone bills or online subscriptions “auto-fetched” from your vendors directly. It’s fast, convenient, and effective.