Bookkeeping for Small Business

When you ventured into your small business, you were extremely motivated and determined to rope in your first client and start turning the profit wheel. While you were fully engaged in maximizing your clientele and speeding your business operations, you may have overlooked the need for bookkeeping for your business.

Bookkeeping is an important aspect of any business as it is the process of record keeping all the financial transactions of a company; thus, making it the primary source of information for business owners to figure out the profitability and valuation of their businesses. It is important for small business owners to know the valuation of their business, even if they do not intend to sell it in the near future. Equally significant is record keeping of all financial transactions, invoicing, tax planning and preparation of financial reports.

While you may be partially versed with the fundamentals or basics of bookkeeping, your primary concern, however, remainson sustainable growth and steady expansion of your small business. Also, bookkeeping requires focus and concentration as each piece of financial information recorded is valuable for gauging the profitability and valuation of your small business. Lastly, you may want to undertake bookkeeping personally, only if you are specially trained in accounting principles.

All these imply that seeking assistance of professional bookkeepers or outsourcing your bookkeeping formalities to an accounting service provider, is the right move. For small businesses with limited funds, hiring a professional accountant becomes a costly affair.

Here is where the role of our services with regard to bookkeeping for small businesses comes in handy. We offer a plethora of bookkeeping services, which will take the stress of bookkeeping off your shoulders; as you can continue to grow your small business in a hassle-free manner. We, as a business outsourcing company and small business tax accountants, offer the following services under a fixed monthly fee.

  • Monthly bookkeeping
    • Record keeping of sales, expenses, cash, bank and similar financial transactions in ledger
    • Recording receipts from clients
    • Payment to suppliers
    • Billing for sale of goods or services
  • Financial Reporting Instruments
    • Balance Sheet
    • Income Statement
    • General Ledger Report
    • Cash Flow Statement
    • Accounts Receivable and Payable
    • GST Reconciliation
    • Bank Reconciliation
  • Payroll Services
    • Calculation of payday
    • Calculation of payroll taxes and filling forms
    • Direct deposits of payroll
  • Tax Planning
    • GST/HST Calculation
    • Business tax returns (Form T2, T4, T4A, T5, T5018)
    • Individual tax returns (Form T1 General)
    • Corporate Tax Guidance
    • Return Preparation
  • Workers’ Compensation Board (WCB)
    • Filing and processing claim documents
    • Premium calculation and Returns
    • Facilitating in obtaining clearance letters
  • CRA Audit
  • Government Correspondence

After availing our services, your focus will remain on flourishing your business; while we take care of your bookkeeping and provide you holistic solutions. You must remember, bookkeeping cannot be avoided or ignored, and it assumes great significance for every operating business; whether small, medium or large. Avail our services now, and we will assure that it will be the best investment for small business’ large success!

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Calgary Tax Pro

Calgary Tax Pro

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