So, you run a small business. You’ve been keeping up with the bank account and invoices so far, but now you’re expanding, hopefully sales are picking up, and you’re spending more and more time on the not-so-fun side of your business. How can Catherine Barrie Accounting help you and your business? 

Or are you already knee-deep in receipts and accounts receivable—drowning in bills, pay stubs and tax worries?

Or even better, are you just starting your small business and want to start off and get your books right from the very start.

In all of these scenarios, there’s no better time than right now to hire an accountant. We have over 25 years experience in accounting and tax preparation. Catherine Barrie Accounting and her team knows the ins and outs to make sure you are filling correctly. Making sure all your deductions are being used to get you the best results year after year.

What Is an Accountant?

Before you get started, you probably have some questions about what an accountant is and what they can offer.

An accountant is a professional who handles the bookkeeping and prepares financial documents like profit-and-loss statements, balance sheets and more. They perform audits of your books, prepare reports for tax purposes, and handle all the financial information that’s part of running your business. We really like how Wikipedia gave a terrific definition of my CPA credentials please feel free to learn more here.

What can Catherine Barrie Accounting do as Your Accountant?

So what does that mean for you and your business? How can an accountant’s way with numbers and super-human calculating skills make your life easier? Here are just a few examples of how using an accountant can help your business grow?

Taxes can be confusing, if you need immediate help you can contact me here.

An accountant can advise on business structure. Is your small business set up as a sole proprietorship or an LLC? What are the differences and what are the benefits of one or the other? When you and you should, hire me and my firm, as your accountant. I can point your ship in the right direction and even help or guide you with the paperwork to get you there.

As your accountant we can issue invoices. Your business has to make money somehow, so you need to be sure you’re charging—and collecting from—your customers in a timely and professional way. As your accountant we can create and send bills to your customers so you can get paid. Here are a few other ways Catherine Barrie Accounting can help your business succeed.

An accountant can record sales. For your business to succeed, you need to know what you’re actually selling, how much you’re selling and at what profit. An accountant can keep track of your small business’s sales and run reports. That way you know what your biggest sellers are, which products to phase out, and how much inventory you need for next month. An accountant also answers a tons of other questions that will help your business grow. Just give me a call, I’m always here to help.

An accountant can manage and pay invoices from suppliers. The bigger your business becomes, the more stuff you’ll need to make it run. We can will pay your suppliers (and keep track of those expenses) so you know how profitable your business really is. Its all about the numbers, that’s kind of our thing.

As your accountant we can manage payroll. How many hours did your assistant work in June and how much was she paid? Your accountant can track and calculate her pay, plus tell you how much you need to withhold for your monthly payroll taxes. As your accounting firm we can track accounts receivable. You know invoices have been sent to all of your clients, but have any of them been paid? Your accountant can track who has paid (and who hasn’t) so you know how much cash you have on hand—and if you need to send out late notices. As well if customers fall behind, and are very late, we have a great relationship with a collection firm to get tough if that is something that would be needed. We are able to help in every way possible to make sure you succeed.

An accountant can keep you up to date with tax laws and changes. Taxes are tricky and with the ever changing Canadian tax rules they may get even trickier for small businesses. An accountant can help keep you stay in compliance with tax laws by calculating payroll taxes for your employees or keeping up with sales tax changes for each of your products. And or provinces you do business in.

Create reports and help you understand what they mean. How healthy is your business? How much cash should you keep on hand? An accountant will create all the reports you need to make the right financial decisions for your business.

When Should You Hire an Accountant?

It’s smart to have expert advice from an accountant throughout the life of your small business, whether you’re just in the planning stages, or you’re so far in you already have employees. But advice from a professional can only be helpful if you’re willing to take it. We are here for you, just give us a call.

Small-business owners wear lots of hats and can struggle with delegating some of their control to others. We understand that this business is your baby! You made it from scratch. Or maybe you’ve had a bad experience with someone keeping your books in the past and don’t want to go through that again. These are all reasons you need a trusted, and experienced tax professional.

Small Business Accountant Versus Accounting Software

You can find anything on the internet. In fact, that’s probably a big part of your own business. So, of course, you can find plenty of online or software solutions for your accounting and bookkeeping challenges. However if you use software on your own to manage your books, you don’t have an experienced set of eyes reviewing your work. This leaves a lot of room for user error and increases your risk of making costly mistakes. What if you input an invoice wrong? What if you didn’t know a tax law changed?

Without a trusted pro taking a look at your work, there’s a big chance your mistake will go unnoticed—and you’ll end up paying the price.

You don’t even have to hire us as a full-time bookkeeper or accountant to keep your finances organized and accurate. Outsource specific financial tasks to our team, who is experienced in handling business accounts. We have several ways we can help you and your business. Lets find a plan that works best for you.

Get the Accounting Help You Need

All this seems like a lot of work and it is! Small-business owners can spend hours and hours a year keeping up their books and taxes. That’s a lot of time that could be better spent on your business, developing new ideas and or doing what you love.

The step to bring on an accountant isn’t just about the value of your time. It’s also about whether or not you can handle your business finances as well as a professional would.

If you need even more convincing, here are 7 more reasons to hire Catherine Barrie Accounting today.

Call our office to set up a friendly phone consultation 705-719-7778. We are conveniently located in the downtown heart of beautiful Barrie Ontario.