When you run a business, bookkeeping is the minimum.
Bookkeeping is compliance work. The CRA wants you to comply by having good books and records to substantiate the amounts you put on your business tax return. Banks want you to comply to loan agreements if you have a bank loan with them.
To run a successful business doing more than the minimum is required. Bookkeeping only for compliance purposes is a mistake. You have to do that anyways.
To grow your business, you need to understand the numbers behind your business. You need to use your numbers to develop business insight. To this end, bookkeeping is just the starting point. You need to move beyond bookkeeping.
You need to dive into the financial statements and understand the relationship between the different statements: Profit & Loss (Income Statement) and The Balance Sheet.
As a business owner, it’s part of your job to understand the financial statements and the story that your company is telling you through the financial statements.
We are here to assist you with compiling the financial statements by completing all the bookkeeping. The financial statements can then be prepared for your business in a Timely manner, enabling the owners/shareholders to make informed business decisions. Call us today and let’s chat about how we can assist your business with the bookkeeping that leads to timely Financial Statements!