We can help you get there by reviewing your current accounting processes and setup so you can get back to running your business and generating profits.
We can provide training and help you develop the proper systems that take care of the following key tasks:
These tasks form the solid foundation of your business accounting system.
Reconciling your business chequing account each month allows you to keep your bank account, accounting, and taxes up-to-date.
Performing a bank reconciliation each month allows you to:
Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance, and that all accounts, cheques and disbursed funds are properly accounted for.
An income statement, otherwise known as a profit and loss statement, adds an itemized list of all revenues and subtracts an itemized list of all expenses to come up with a profit or loss for the period.
An income statement allows you to:
A balance sheet provides a snapshot of your business's financial condition at a specific moment in time.
A balance sheet helps you:
Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.
The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.
Reviewing your general ledger system each month allows you to highlight any discrepancies such as double billings or any unrecorded payments.
Suite 620 - 1445 Portage Ave
Winnipeg, Manitoba R3G 3P4