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New Business Setup

Fractional Accounting

New Business Setup Accounting Services in Montreal

Starting a business in Montreal means dealing with busy schedules and constant change, which often pushes administrative tasks to the side. Without proper time management, accounting tasks like documenting and filing invoices, expenses, and sales tax reports can easily end up in the wrong place. A bad accounting system can make it hard to know how much your business is earning, track cash flow, or decide what you can afford to spend.

Fractional Accounting helps Montreal startups and small businesses organize their finances so they start with clean books. Our startup accounting and bookkeeping setup services give you clear, reliable numbers so you can run your business with confidence. We handle all of your accounting software setup and bookkeeping system setup needs. We build a chart of accounts that matches how you sell, we set up monthly reports, and create a simple month-end close process. We also manage GST/HST and QST tracking, payroll setup, and payroll, including payroll payments if you plan to hire. You also work with a startup accountant who provides simple, easy-to-understand fractional controller support to help you effortlessly set up and manage your business's finances.

Our goal is for you to leave with a simple process for invoicing, receipts, and monthly reviews, that works for you and your business. If you feel like you still need help, you can get ongoing small-business accounting setup, bookkeeping, fractional controller services, or fractional CFO guidance so you can continue to run your business without worrying about dealing with your finances. Book a call to get started with our new business setup services.

Who Our New-Business Setup Accounting Service Is For

You receive a complete new-business accounting setup you can use right away, with clear and easy-to-understand documentation to keep the process manageable as your business grows. Our service includes:

  • A setup checklist and timeline that outlines the steps we will take to build your business's accounting system

  • Accounting software setup, with accounts organized to match how you bill customers and spend money

  • Bank and credit card connections following a simple bookkeeping system setup for invoices, bills, receipts, and document storage

  • GST/HST and QST tracking is built into your accounting system, so sales tax is entered correctly on invoices and transactions

  • A monthly reporting package that includes a profit and loss statement, balance sheet, and cash summary

  • Help from an accountant with creating a month-end close checklist to make sure everything matches up, so reports are accurate from month to month

  • Assistance with training your team so they can run the process confidently, with the option to add ongoing bookkeeping setup, fractional controller, or fractional CFO support

What You Get With Our Service

You receive a complete new-business accounting setup you can use right away, with clear and easy-to-understand documentation to keep the process manageable as your business grows. Our service includes:

  • A setup checklist and timeline that outlines the steps we will take to build your business's accounting system

  • Accounting software setup, with accounts organized to match how you bill customers and spend money

  • Bank and credit card connections following a simple bookkeeping system setup for invoices, bills, receipts, and document storage

  • GST/HST and QST tracking is built into your accounting system, so sales tax is entered correctly on invoices and transactions

  • A monthly reporting package that includes a profit and loss statement, balance sheet, and cash summary

  • Help from an accountant with creating a month-end close checklist to make sure everything matches up, so reports are accurate from month to month

  • Assistance with training your team so they can run the process confidently, with the option to add ongoing bookkeeping setup, fractional controller, or fractional CFO support

New Business Setup

New Business Setup Accounting Services We Offer

Kickoff and launch plan

We start by having a conversation about your business so we can understand what you sell, how you bill, how you get paid, and how you pay vendors. This information is the foundation of a strong new-business accounting setup. Next, we confirm what you want to review each month and map out the steps to get there. At this point, you will receive a clear plan with responsibilities, timelines, and next steps.

Bookkeeping system setup/accounting software setup

We complete your bookkeeping system setup so that daily transactions land in the right places. This includes setting up accounting software, creating a chart of accounts that matches your revenue and costs, and connecting your bank and credit card accounts. We also organize systems for storing and approving receipts, bills, and invoices as part of your new business accounting setup.

Reporting setup and month-end close

We create core monthly reports as part of our startup accounting service. This includes a profit and loss statement, balance sheet, and cash summary. We also use a month-end close routine to make sure numbers stay consistent from one month to the next. That includes checking your accounts, reviewing uncategorized items, and closing out the period.

GST/HST and QST setup

We install sales tax tracking in your accounting system. This includes reviewing registration timelines and setting up tax codes so GST/HST and QST are recorded correctly on invoices and transactions. We also keep a list of the paperwork you need for taxes.

Payroll readiness and payroll setup

If you are hiring, we prepare your payroll setup so payroll and deductions get recorded correctly in your books. Payroll setup includes confirming pay schedules, organizing employee information, and building a routine for payroll remittances. If you plan to handle payroll internally, we help you choose payroll software that works for your business and provide training to help you get started.

Cash flow basics and cash flow planning

We build a simple cash flow projection you can update and review. We also help you keep tabs on invoices and bills, so you can see when money is coming in and when it needs to go out.

Automation setup

If it's possible, we can connect your systems for invoicing, receipt capture, bill payment, and reporting so they all work together. This automation helps a long-term bookkeeping setup by reducing manual entry and making month-end work easier, especially if you use payment processors, e-commerce, POS, or time-tracking tools.

Controls and review (controller support)

We put basic controls in place so your startup accounting structure remains simple and easy to understand as volume grows. This includes user access, approvals, audit trails, and a close checklist to keep your books organized. If you want a professional to confirm that your reports are accurate and reliable, we offer controller support or a fractional controller who can review your books.

Contract and billing terms assessment

We review contract billing terms that affect cash collection and invoicing. This helps align deposits, milestones, and payment terms with your billing process and supports better reporting within your accounting system.

Year-end readiness

We create a simple year-end file structure and documentation routine. The goal is to make the handoff to your tax preparer easier by keeping records up to date each month and avoiding messy books at year-end. This setup also makes future fractional CFO planning and financial review easier.

Our Process

Step 1: Intro call and setup review

We start with a short call to understand what you sell, how you bill, and what needs to be tracked from day one. This helps shape your new business accounting setup. We also review your current tools and confirm which ones can be connected to your accounting system for small-business use.

Step 2: Setup plan with clear deliverables

Next, we create a clear setup plan that outlines the work, timing, and who is responsible for each step. This keeps startup accounting, invoicing, expenses, sales tax, and reporting in order, making your bookkeeping system easy to manage once transactions begin.

Step 3: System configuration

We complete your accounting software setup, chart of accounts, bank feeds, and core workflows. If you need GST/HST and QST tracking, payroll setup, or payroll readiness, we include these as part of your small business accounting setup services so transactions post correctly.

Step 4: Test transactions and first reports

Before you rely on the numbers, we test real transactions and review your first reports together. We adjust categories, tax coding, and reporting methods so you can easily read your monthly reports with confidence using your reliable bookkeeping setup.

Step 5: Month-end close routine and handover

We set up a month-end close checklist and walk you through how you should follow it. For many startups, a practical target is to try to close the books within 7 to 10 business days after the month-end. If you still have trouble following the checklist on your own, we offer controller support if needed.

Step 6: Ongoing support as you grow

After setup, you can keep the work in-house, or we can provide ongoing support with bookkeeping, reporting, payroll, cash flow, and automation, including fractional controller or fractional CFO assistance for Montreal-based small businesses.

Why choose Us ?

Fractional Accounting is based in Montreal and works with startups and small businesses that want clean books and reliable reporting from day one. We focus on offering new-business accounting setup services to create an accounting system you can continue to trust as your business grows.

With Fractional Accounting, you work with experienced professionals who specialize in startup accounting and small business accounting. As your needs change, you can add controller support, a fractional controller, or a fractional CFO to support planning, cash flow, and decision-making.

Our work is always clearly structured and documented, so you know exactly what is being done. Every bookkeeping setup includes a repeatable month-end close routine and reporting structure to make sure your system remains consistent each month.

If you use multiple tools, we also help you set up and automate your accounting software. This connects billing, receipts, and reporting, so you do not have to waste your time manually entering numbers.

FAQs

What is included in your New Business Set Up service?

New Business Set Up focuses on creating an accounting system for your new small business that includes bookkeeping system setup, reporting, GST/HST and QST tracking, payroll readiness, basic cash flow planning, and a month-end close routine. The goal is to set up an easy, reliable accounting system you can understand before your business gets busier.

How long does a new business accounting setup usually take?

Timing depends on the number of accounts, tools, and transaction types involved, as well as whether you need payroll setup or sales tax tracking. Many clients begin using their new accounting system within a few weeks.

Do I need to register for GST/HST and QST in Quebec right away?

Not always. Many businesses register once they expect to exceed the $30,000 small supplier threshold in a single calendar quarter or over four consecutive quarters. Since rules can vary, we help you understand the standard thresholds and ensure your startup accounting system is ready to track sales tax correctly.

What is a month-end close, and why does it matter?

A month-end close is the routine that turns daily bookkeeping work into reliable monthly reports. It usually includes checking your accounts, sorting out any uncategorized transactions, reviewing money owed to you and money you owe, and making sure sales tax and payroll payments are correct before the financial reports are reviewed. This process is often supported by controller support.

When should I close my books each month?

For many startups, it is recommended to close your books within 7 to 10 business days after the month-end. The right timing depends on transaction volume and how quickly you need your reports.

Can you set up my accounting software and chart of accounts?

Yes. We handle accounting software setup and chart of accounts setup based on how you earn revenue and spend money. This includes connecting bank feeds, setting up invoices and bills, and creating simple habits for receipts and document storage as part of your small business accounting setup.
Testimonials

Our Customers Said

  • “So Helpful”
    Working with Melissa as my fractional CFO has been a game-changer for my startup. Her expertise and guidance have been invaluable, and she has helped me make sound financial decisions that have accelerated our growth.

    Martha Nazario

  • “Makes it make sense”
    Fractional Accounting is a lifesaver for small businesses like mine. They handle all the bookkeeping and tax headaches, allowing me to focus on running my business. Their transparent communication and competitive rates make them the perfect choice.

    Alex Martinez

  • “Outstanding Service”
    Before Fractional Accounting, I felt constantly stressed about my finances. They’ve helped me gain control and clarity. Their proactive approach and financial planning have given me peace of mind and allowed me to confidently scale my business.

    Antoine Crawford

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