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Success Tips

FROM THE SUCCESS PEOPLETM

Accounting Services for Small Businesses in Canada

Sep. 02, 2020

Starting a business is a tall dream and not as easy as it seems. One of the reasons for starting any business is to grow your capital.

To achieve this, you ought to lay a solid foundation in the financial aspect of your business from the beginning.

Once you get this right, you are well on your way to success.

The core of any business lies in how you can effectively keep track of your financial activities.

A lot of entrepreneurs make the mistake of handling their financial activities independently without considering the long term effect it would have on their business the moment it expands.

Getting financial service is never a waste of money because you can always find out the best among available bookkeeping price packages suitable for your business.

Financial activities can be made easy by adopting modern methods of operation.

Nevertheless, most business owners have found themselves searching for the right firm or individuals to gratify this need.

This is where Kaft CPA accounting services for small businesses come to mind.

These small businesses CPA are responsible for performing this role through various accounting service companies.

What are Accounting Service Companies?

These are full financial management providers who professionally deal with bookkeeping, tax planning, payroll, preparation of financial statements, budget analysis, account processing, and varying degrees of other services that aid the growth of your business.

Types of Accounting Services for Small Businesses

Types of Accounting Services for Small Businesses

Accounting services are essential to both small and large businesses.

The services help to keep businesses on track regarding various payments, financial development, bookkeeping, and business expenses.

Kaft CPA professional accounting services provide advice to small starting businesses on the right investment and best structure for their business to ensure financial stability.

It’s thus crucial for a small business owner to know the best outsourcing accounting services for their business.

Bookkeeping for Small Business

Bookkeeping is the act of tracking all financial transactions of business including purchases, sales, receipts, and payments made by an individual or organization.

The purpose of this is to ensure the proper recording of financial transactions and valid financial statements.

If done wrongly, this can lead to poor financial accountability which can be costly to your business.

Tax Planning Services for Small Businesses

Most small businesses use CPA or accounting firms in handling their tax activities. This enables them to meet up with the deadlines for each payment and ensure that each of these essential payments is done properly by professionals.

Payroll Processing for Small Businesses in Canada

It deals with employee finance management.

Companies that offer payroll services are in charge of distributing employee pay, ensuring that the right amount is paid and as at when due.

This is done after carefully planning while considering the company policy and keeping track of the company payment data.

Most payroll services deal with; submitting withholding and payroll taxes.

Preparation of Financial Statements

Not only are many entrepreneurs scarcely knowledgeable about issues about income statements, balance sheets, cash flow, and other essential financial statements, they mostly cannot likely make the right decisions, considering the information generated from these documents.

This can plunge their businesses into financial loopholes in the long run.

The CPA must properly prepare and interpret these documents to enable the entrepreneur to make meaningful financial decisions.

Budget Analysis

Analyzing a budget means understanding how money is being spent and managed in a business organization.

The sole purpose of the budget analysis is to analyze and evaluate an organization’s financial operations in line with company expectations.

Budget analysts are responsible for reviewing all budget proposals and giving recommendations to the business owner on the best step to take.

Accounts Payable

Accounts Payable is a short-term debt payment that needs to be paid without default.

Every business must purchase goods and services from other companies. Sometimes, the payment for goods purchased is not made immediately.

This is recorded as an account payable by the business and should be paid as at when due.

Recording it helps to avoid mistakes such as; omitting payments or duplicating payment. It also deals with invoice sorting and processing. 

Why You Need Accounting Services for Your Small Business

There is hardly any solid reason why a business owner or entrepreneur should not indulge in an accounting service to aid business growth.

As mentioned earlier, one major goal of every business is to maximize sales and increase profit.

A professional accountant can help you make better decisions about your finances.

If your expense outweighs your income, they assist in monitoring and evaluating new ways to reduce your expenses to enable better profit generation.

Small businesses usually have fewer hands on deck; hence, focusing on bookkeeping alongside the regular running of their business can be tedious.

Spending or investing too much of your time overseeing financial activities is not the best way to run your business.

Once you have secured your financial issues by handing them over to a  professional, you can focus on other major areas of your business that would guarantee company growth.

Financial issues should never be taken with levity.

Once you are fully aware of the implications of careless financial accountability, you would learn why bookkeeping services for small businesses are essential in overseeing their financial activities.

Professional accountants can help you prepare for future investment or expenses that could have translated into a financial crisis.

They help you keep a record of your daily transactions to ensure a smooth business sail.

In selecting the best and most suitable accounting services, it is important to take note of proximity and efficiency.

This is why virtual bookkeeping services is highly encouraged and recommended.

Have You Considered Bench Bookkeeping?

bench accounting services for small businesses

There is a long list of bookkeeping services suitable for your small business and Bench is one of them.

They are a financial technology company that uses proprietary software to automate bookkeeping and provide financials for small business owners.

That is, they provide online bookkeeping services for small businesses. Bench bookkeeping enables you to track your business transactions, aids collection, and storage of all necessary documents related to your business activities.

They deal majorly on cash basis financials and receipt management.

They also give you affordable options equivalent to almost half the price of other services, due to their specialized software.

Nevertheless, if you are searching for a fintech company to handle invoicing or track your bills, the bench doesn’t offer such services.

If you are looking to find bookkeeping and accounting services solutions for small businesses in Canada, then you should check out Kaft CPA.

Kaft CPA is a leading accounting services provider for small businesses in Canada.

Located in Alberta, we provide custom and affordable accounting and bookkeeping solutions for small businesses in the Prairie region and the whole of Canada.

We keep a record of all legal documents as well as past tax returns and other vital documents like income statements and balance sheets, handle all your taxes and guide you on important financial decisions.

Why is Kaft CPA Accounting Services for Small Businesses is Right for You?

tax services for small buisness

A major determinant of business growth is the time dedicated to putting the right things in place.

Once you decide to take charge of your business finance, you might have limited time to run your business.

This means that business growth might not be as fast as a business owner fully focused on other vital aspects of the business.

Outsourcing your bookkeeping and accounting services has a long term tremendous benefit on your business.

It may not seem like a difficult task combining finance and record-keeping related activities with the general running of your business but it gets exhausting as your client base and purchases increase.

Furthermore, financial mistakes are extremely risky and should be avoided at all costs.

This is why outsourcing your bookkeeping and accounting services are becoming widely popular amongst small business owners.

What’s Different About Our Bookkeeping Services?

business accounting services

You would agree that most bookkeeping companies stop at the point of preparing a financial statement and giving you certain recommendations useful for your business growth.

KAFTCPA goes miles ahead of them to give small businesses unique ways to execute the ideas recommended and guides your business through the journey.

We do not just work with the surface information you give about your business. We takes time to understand your business.

After researching your business and competitors, we then deliver professional accounting services custom-designed for your situation.

The good news is that our services are affordable and can fit into your bookkeeping fee schedule.

KAFTcpa had a distinct quality that most CPA services cannot guarantee…Happiness.

What Does Kaft CPA Accounting Offer?

  1. We take our time to understand your business
  2. We are available whenever you call 24/7
  3. Our services are affordable
  4. We check in often
  5. Our clients love us

About Our Small Business Accounting Services

  1. Bookkeeping

We record your daily business transactions, document your bills and receipts as well as frequently reconcile your accounts.

2. Tax accounting

We help you plan and prepare taxes and payments, identify tax savings, and analyze other tax issues faced by your business.

3. Chartered accounting

With our team of a chartered professional accountant, we implement your business accounting systems, prepare monthly financial reports for small businesses, and submit corporate tax returns.

4. Forensic accounting

With a highly knowledgeable team on tax and financial accounting, we review all your financial documents, spot out the inaccuracies. This also helps our clients to understand complex finance and accounts.

5. Financial controller services

We help to monitor, manage, and control cash flow, review your financial plans and find new ways to reduce cost, suggest easier financial processes, and keep records of all financial activities.

6. Accounting audit

We focus on examining reports and reviewing your business financial statements.

7. Bank reconciliation

We help you balance your ledger account with your bank account balance.

8. Account payable

We ensure all payments are completed as at when due and verify/reconcile all business invoice.

9. Account receivable

Experts ensure that all bills and payments for goods or services rendered to your clients are fully paid and accounted for

10. Payroll processing

After providing us with the necessary information about your workers or employee, how much each of them is paid, information on taxes, and the pattern of payment, we take charge and ensure you enjoy peace of mind.

KAFTCPA combines bookkeeping and accounting services to secure your finances.

How Kaft CPA Accounting Services for Small Businesses Can Help to Grow Your Asset and Capital

Starting a business is a tall dream and not as easy as it seems. One of the reasons for starting any business is to grow your capital.

To achieve this, you ought to lay a solid foundation in the financial aspect of your business from the beginning.

Once you get this right, you are well on your way to success.

The core of any business lies in how you can effectively keep track of your financial activities.

A lot of entrepreneurs make the mistake of handling their financial activities independently without considering the long term effect it would have on their business the moment it expands.

Getting financial service is never a waste of money because you can always find out the best among available bookkeeping price packages suitable for your business.

Finally, financial activities can be made easy by adopting modern methods of operation.

Need an accountant who specializes in medical practices, oil and gas, small business and more?
Book your free 30-minute "Success Check" today.