So, you have decided to become an entrepreneur! From personal experience, I can tell you that good bookkeeping habits are vital to the success of any small business. We proudly provide bookkeeping services in North Bay and Kingston.
Regular bookkeeping helps a new small business owner determine if their business is profitable early on without waiting until tax time!
Regular financial statements will help a new small business owner identify trends and assist with their plan for a low cycle through increased advertising or a change in product or service.
So, whether you choose to do your own bookkeeping or ask a professional to do it, take the time to review your business history at least on a monthly basis.
Bookkeeping is a valuable tool. The purpose of bookkeeping is first to assist the small business owner to understand their business. The second reason for sound bookkeeping is to ensure accuracy when filing your tax return and other government reports. And finally, good bookkeeping will give the small business owner a better chance at financing his business.
To summarize, unless you are in the business of accounting and income tax, why spend the time doing your own bookkeeping instead of entrusting your bookkeeping to a professional while you focus on growing your business and dedicating efforts to your area of expertise!
If you would like to enquire further regarding our bookkeeping services, please don’t hesitate to give us a call.