That question could be the one that keeps you hesitant about whether it’s worth to hire a bookkeeper. Pelican Bookkeeping Team thinks it is ABSOLUTELY necessary to have one, but let’s look at details.
What is bookkeeping? It is processing and recording of the day-to-day business transactions like sales, purchases and payroll. If we look at each type of transaction we will realize that they involve different actions that must be taken in order to keep your business running smoothly.
1. Sales involve issuing invoicing to customers, collecting & remitting appropriate sales taxes to either the Canada Revenue Agency or Provincial Government;
2. Purchases involve paying the bills, deducting sales taxes if applicable from the collected and allocating expenses correctly.
3. Payroll involves deducting & remitting the deductions to CRA along with filling and paying WCB Premiums in your province.
On top of the above a bookkeeper can create reports that will help you make decisions beneficial for your business. For example, you can see which service not profitable or which product sells better which time of the year.
Running a business always involves multitasking and we think it’s a good idea to hire a professional bookkeeper to take care of your finances. Having a reliable and trustworthy bookkeeper doesn’t equal to a huge bill at the end of the month for you to take care of because here at Pelican Bookkeeping Services we offer packages that start at $149 per month.
Talk to us today about how we can help you & your business!