A professional bookkeeper can give you confidence that your records are being maintained, safeguarded, and that you are saving your company time and money.
More and more accounting firms as asking their clients to have prepared financial statements using software and double entry systems rather than using spreadsheets or manual record keeping. TimeLine Bookkeeping Services provides monthly, quarterly or yearly data entry to prepare the yearend financial statements for clients based on the records they provide. TimeLine Bookkeeping Services also has the ability to set up small firms with the software necessary to complete their records up to and including the yearend financial statements.
The use of accounting software is more commonplace now but small businesses may not have the experience necessary to adequately utilize them. These computerized accounting systems can create frustrations if there is no one available with a strong background in proper accounting practices. Many small businesses have limited requirements for a bookkeeper and it is cost effective for them to contract the work.
Quote from CRA website:
Complete and organized records will:
- enable you to focus on customer service and business growth;
- remind you of expenses you can deduct and tax credits you can claim;
- make it easier for you to determine your taxes owing;
- provide you with information on the past and present financial positions of your business;
- help you make good business decisions;
- assist you in getting loans from banks and other lenders;
- help to prevent problems if your returns are audited; and
- possibly help you in selling your business or bringing in new partners.