It is that time of year again. When small business owners fret over their tax filings and accountants work endless hours to make the filing deadlines while ensuring their clients are taken care of. If you are self employed in any way, whether it be a dog walker, freelance journalist or owner of a brick…
Category Archive for: Taxes
Unless you are an accountant or a fan of working with numbers, bookkeeping is probably not your favourite task. But adopting some good habits early can help you avoid costly errors when it comes to record keeping. You probably keep a lot of the financial details of your business in your head: which supplier you…
At yearend, your bookkeeper or internal accountant will (or should) go through every account on your balance sheet and tie it to a third party source document. You can reduce your yearend preparation costs if you submit a clean set of books. Getting Ready For Yearend List Bank accounts AND credit card accounts should be…
For many small businesses bookkeeping is the last thing that business owners want to think about. You may throw all your receipts invoices and bills in a box somewhere and forget about them. Then you get a letter from the taxation office asking why you haven’t submitted any tax returns for five years and suddenly…
Every office today has a computer, and every office-supply store has accounting software you can load onto your computer. Each year, these software packages become more intuitive and easier for the beginner to learn and understand. Why then, should any small business hire a bookkeeper or other accounting professional? And, even if they decide to…
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