The question of why do you need a bookkeeper is in fact quite a simple one; to efficiently track all of your business activity. Regardless of the type, size or industry your business comes under, in some way you will need to keep a track, and record of business activity.
Whether you’re already a business owner, or looking to start your own business, here at Marden & Co Accountants we have put together an easy to read guide exploring the benefits and reasons why you should consider a bookkeeper.
Why you need a bookkeeper
Here are a few very good reasons you need a bookkeeper:
- Record and monitor day-to-day transactions
- Track expenses and sales
- File required government remittances within time and correctly
- Record capital gains
- Record capital losses
- Record purchases and sales
- Track finances
- Track vendors
- File and payroll taxes, CPP, El, etc.
Can you do your own bookkeeping?
In short, yes you can. However, keeping track of your financial activities throughout the year can be very time consuming, and tedious. There are Government rules in place, and it gets harder when you need to track multiple streams of income, assets, investments, payroll, accounts receivable, accounts payable etc…
It is likely you will need to take a few days, at least, per month to take care of your bookkeeping. That time is cutting into your money making, or leisure time.
Depending on the type of business you own, or plan to own, you will also need to adhere to Government deadlines. This is the case for GST, payroll, PST, income tax and more, and the CRA charges large penalties for late remittances.
What can I gain from using a bookkeeper?
Here at Marden & Co Accountants, we can provide a service to meet every business requirement, and this service allows our clients in Surrey to:
- Have access to up to date information on their business
- Free up time to grow the business
- Ensure the year end fees are minimised
- Calculate the VAT and ensure they are compliant with deadlines
- Access summaries of customer and supplier balances due, to assist cash flow.
Save time, money and pay less tax
At Marden & Co, we can help you save time, money and pay less tax too, with our professional bookkeeping services. Quality bookkeeping services will help you build a successful business and keep your financial records in order, whether you are a sole trader, limited company or partnership, we can help.
Boasting a personal and reputable service, make us your point of contact if ever you have any questions or need hands-on support.
If you require more information about any aspect of bookkeeping, from payroll administration to VAT returns, bank reconciliations or annual accounts, please get in touch, and a member of our supportive team will be on-hand to guide you.