Concentrate on Your Business and Leave the Bookkeeping to Me!
HOW CAN A CALGARY BOOKKEEPER/ACCOUNTANT BE OF SERVICE TO YOUR BUSINESS?
In this busy world on operating our own businesses, many times having current and accurate financial information is the first casualty in this process. I think most every business person knows that current and reliable business information is of primary importance. On a regular basis, having a Bookkeeper/Accountant can provide you with financial information on where you are, how far you have come and help plan a direction for the company’s future.
Making better business decisions often hinge on upon knowing what your financial position is and will it support the directions you have in mind. Having a Bookkeeper/Accountant available provides you with someone you can bounce ideas off about your company’s future direction. The Bookkeeper/Accountant will have experience with the various reporting forms that need to be filed on a regular basis. These can include payroll preparations and remittances, GST remittances, bank reconciliations, asset analysis and control and many other day-to-day functions.
Stress can be a significant factor in the running of a business. Worrying about keeping up with the paperwork and maintaining an accurate set of records can put unnecessary stress on you. It is much more satisfying and enjoyable to be doing the things that you are good at and bringing additional income to the business rather than taking away your productive time or spare time to slog through the bookkeeping tasks. It is usually more cost effective to spend your time earning income in comparison to the cost of a bookkeeper.
Putting your information into your accounting software and understanding your sales cycle can prove to be time consuming and take time away from other aspects of running your business. This will be easy for a professional bookkeeper, but not always so simple for a business owner. There is a difference between a bookkeeper and an accountant, even though the terms are often used interchangeably. A bookkeeper is someone who enters the business data on a daily basis. They enter the accounting information into the businesses software, issue invoices, write cheques and file all the receipts away securely. An accountant works with this bookkeeping data to analyse and report the results of the business operations. These will include, among other reports, financial statement, income tax returns, various other government filings and review of this information with the business owner.
Year-end financial reporting together to complete the bookkeeping and accounting functions are very necessary to the successful operation of a business. The bookkeeping has gathered all the data from the year and the accounting function compiles the financial statements and income tax returns, along with other related reportings. The more reliable and accurate the year to date bookkeeping is, the easier it is to prepare the year-end financial statements. This also means that the cost for the year end will be less.
Petcal Bookkeeping Services
Gary Peterson B.Comm.