Managing the day-to-day tasks and trying to maintain accurate bookkeeping can be a challenge, especially for smaller companies that do not have a dedicated in-house Accountant. Bookkeeping duties can include but are not limited to;
•New business set up
•General ledger entries and maintenance
•Accounts receivable including entering, invoicing,
deposits and mailing monthly statements
•Accounts payable including entering bills and paying bills
•Payroll - calculation and preparation
•Bank and credit card reconciliations
Keeping track of all your remittances such as HST, Source deductions (payroll), WSIB, and EHT can become very overwhelming and you always worry about the deadlines for filing.
If you file late, it can result in very costly financial penalties. Thus it could be best to outsource your government remittance to a professional, assuring you peace of mind in knowing that you will avoid potential penalties for overdue amounts and that your filing is accurate.
Training and Quickbooks
As companies grow and engage in hiring, the bookkeeping process becomes more complicated and it becomes very critical to keep track of deductions and remittance.
If this process is compromised companies will be subject to costly penalties. Thus hiring and export such as a PCP (Payroll Compliance Practitioner), will assure your payroll and T4's are done accurately and remittance is done on time avoiding audits and penalties.
Some companies want to face the challenge of learning a new process specifically in bookkeeping or software applications such as QuickBooks. I can help make the learning transition more successful.
This will assure you are doing the process in compliance and accurately and could limit the potential for costly mistakes in the long-run. If the first step isn't done right, then everything else that follows after is also flawed. This includes business decisions based on your financial reports. You may also end up having to pay an accountant at year end to clean it up before doing your taxes.
At Bookkeeping For You we offer a wide array of services designed to help you keep track, organize and co-ordinate all your finances. We are able to adapt to any needs you may have, from full service bookkeeping to partial bookkeeping or training. We can customize a package to suit any needs or budget and detailed reports will be provided to accurately reflect your businesses profitability. We offer competitive rates but deliver an even higher value.
Outsourcing for Accountants
When professional Accountants has an over-abundance of work, employees taking vacation or leaves, or when tax season hits; instead of having to hire an employee, it's more cost effective to outsource an experienced professional bookkeeper.
Look no further than Bookkeeping For You, because we have the experience, professionalism and want to lend a helping hand when needed.
Previously working for a CA, I know that work loads tend to come in at once and during tax season you all end up working 2 full time jobs and I would like to help minimize your work load. Contact us today to talk more about it and what I can do to help you!
We also offer start-up business packages! Contact us to find out more!