The success of a business relies on its level and standard of organization, this is why Edmonton bookkeeping is extremely important especially for new businesses to take advantage of and grasp as a tool to their success.
Edmonton businesses suffer from quick and hasty decisions more importantly not just Edmonton businesses but rather human nature, in general, suffers from quick and hasty decisions that can be costly and if these bad habits are not mitigated then an Edmonton business can suffer greatly in the long run. For example, there are Edmontonian sole proprietors who are very disorganized and placed their receipts in a lunchbox and expect and accountants to sort through the mess come time to file for their tax return and for their obligation to the government. Imagine something is important as the business being in a complete state of chaos before having to be analyzed and scrutinized by the CRA who view all transactions and financial documents very carefully in their audits. This can be a nightmare for a new business owner who does not know how to compile all of this pertinent information into something that the CRA can even read! Now, imagine being the accountant that you as a business owner hired to receive this mess and organize it and make it something legible for the CRA to take in for their consumption. You can easily see how much of a problem this will cause not only the Edmonton business owner but for the accountant and the CRA that have to go through each and every document.
Most business owners do not know that the accountants who are under such stress to fix the mess will charge additional fees and take up even more time and the CRA does not like to give out additional time for filing. Now, it may seem that all is lost and that money is being thrown away but this problem can easily be solved by hiring Edmonton bookkeeping or an Edmonton bookkeeper to analyze revenue and cost of goods, items that were sold and relevant expenses thus making the business owners and all the parties involved lives much easier and much more enjoyable come tax time!
The Edmonton bookkeeping is not just a one-off deal either. The bookkeeper can organize the business by showing the business owner the numbers and the cost and the income and an overall view that can be used for direction in where they are going for the future.
Having Edmonton bookkeeping can help Edmonton businesses make better decisions and design their financial path and rightly so because the bookkeeper takes all of the data and puts it into an easy to read legibly one-page statement for the CRA to read. It is a fact, that 50% of Canadian businesses fail and only 11% seek professional help and if a business reaches out to a bookkeeper they have a tool to keep their business afloat and organized as an organization should be.
would you want to deal with a business that keeps its receipts in a disorganized fashion in a lunchbox or some other compartment, with no Edmonton bookkeeping in place? The business of keeping a business is stressful and difficult for business owners to entirely keep track of financial transactions statements and documents. There are many businesses in Alberta especially sole proprietors who are like the business that is mentioned, disorganized and hoping that a good outcome will come out of this through the magic of accounting come tax time. The business owner then gives the accountant a pile of receipts and financial documents that then cost the accountants their time and as such the accountants must charge more for their services due to the chaos that is presented before them. This is a problem especially among sole proprietors but also for businesses in Alberta in general as most business is very hastily handled.
Edmonton bookkeeping can solve this problem by giving you balance sheets, accountants and what you owe others as well as keep track of revenue, cost of goods, expenses and items sold. This gives the business owner a valuable tool and edge over the disorganized business owner who is completely at the mercy of the CRA who then decides how to file for the business owner and giving the business owner no leeway to have control. This is unfortunate and it should not be a problem but it is as it is also a fact that 50% of Canadian businesses fail and only 11% seek professional help.
Seeking the help of Edmonton bookkeeping will save a business owner on costs of dealing with the additional charges of the accountants by providing a one page clean and easy to read statement for the accountant to then file with the CRA who also will look at the statement and will then be pleased with what they have in front of them and what they have to work with.
So, there is a better way and there is a better way to be organized and to give your business structure in competitive edge through Edmonton bookkeeping and not having to go through giving the accountant a difficult time of waiting through the muddied waters of the transaction after transaction sometimes with no legible documentation at all.
A bookkeeper should be a part of every growing business and every business organization as a bookkeeper will create the time and save money for the business owner to do the things that actually run the business! Would it be nice to have a bookkeeper take care of the back end of things while you manage the front of your business and direct, lead, and guide your business, your funds and your success? Edmonton bookkeeping is a great way to organize and make it possible for this to be a non-issue come tax time and from the demands of the ever-watchful CRA. Why not go for an available option that a lasting solution.