First, we just have to say, we love working with businesses to help them with their accounting needs! And not because accounting is what we do here at Catherine Barrie Accounting. Its because we like to help people succeed. We know there are a number of challenges that businesses face when it comes to their accounting.
We do love a challenge! However we also love providing accounting services that are tailored to each business.
Here are some of the ways we at Catherine Barrie Accounting can help your businesses succeed.
First, Everyone’s Favorite…Bookkeeping!
We know, we know! Everyone loves bookkeeping, right?. Most people don’t enjoy bookkeeping at all, unless they have a strong background in it. And let’s be honest, many people with successful a businesses don’t necessarily have a background in bookkeeping.
Some business owners will learn, either by reading detailed blog posts or following us on our FaceBook Page. Even by taking bookkeeping courses. Others will hire a bookkeeper or an accounting firm to handle their bookkeeping, Like us at Catherine Barrie Accounting.
Through the years, we have seen some businesses grow with an insane volume of transactions. And in many cases, the owners simply did not have the time to do the bookkeeping themselves. They also weren’t always using the right software or record keeping for their bookkeeping.
With any new business client, we always first look at their bookkeeping methods.
We have seen it all don’t worry, even right down the infamous shoe box full of receipts.
Next Up, Call us!
There is not always a one-size-fits-all solution– different styles of business sometimes require a different approach. However with more then 25 years of Accounting experience we have makes us very confident that we can handle all the in and outs of the Bookkeeping needs for you business.
Let’s Not Forget About Sales Tax!
Sales tax can be an interesting issue, particularly for businesses who are selling products in multiple provinces. There are different tax thresholds in different provinces, and as a result there are different tax filing requirements for each province.
It can be a lot to keep up with while also running a growing business.
Is your bookkeeping up-to-date?
It’s essential for any business to make sure their bookkeeping is up to date. For businesses who are not on top of their bookkeeping, they may be filing their sales tax returns incorrectly.
Which means they may be overpaying or underpaying the CRA, and could be charged penalties and interest.
Cathy’s Tip: The penalties and interest you have to pay the CRA are not deductible. Whereas the accounting fees you pay are.
And don’t forget about ITCs (Input Tax Credits). Making sure you are allocating and calculating these correctly is also important. And it just happens to be something we help our clients with!
Are you confused about your filing requirements?
Depending on the provinces you are selling in, you may be collecting varying tax amounts and (as mentioned above) also may have different filing requirements.
If you are wondering about the different GST/HST rates by province, check out the Government of Canada website. It also details the differences depending on what your business is selling.
Now imagine trying to keep track of all filing requirements for every province you do business in?
Catherine Barrie Accounting can manage all of your sales tax filings (and the varying thresholds), so that you can focus on your business.
What About Compliance?
Oh right! We could never forget about compliance! Similar to what we just mentioned about sales tax, it’s important for all businesses to ensure tax compliance and proper record keeping is maintained at all times.
For a new or even existing businesses, it can be challenging to know what tools to use, particularly when looking for paperless record keeping options. Give us a call to discuss having us look over your business tax needs. And at the same time we can discuss the best ways to have us take care of all the paperless apps or services we use. So we can make sure everything is filed, and kept neat and tidy.
Tailored Business Accounting Services
When it comes to how we do things, we work around every client’s needs. We start our relationship with all clients by gathering details about their businesses and their needs, in order to offer them a plan or package that is customized to them.
It’s not a one-size fits all approach, where (for example) all bookkeeping is done at year-end. That’s a thing of the past. We work with our business clients to find a framework that works for them, not just a framework that works for us. Our clients needs always come first.
Catherine Barrie Accounting with over 25 years of bookkeeping and Tax experience is open and available for you.
Please feel free to call and set us a free consultation on how we can help your business today 705-719-7778.