Whatever your recordkeeping system, just make it organized so your accountantĬan easily find any information s/he is looking for. You can see where this could lead to a problem if your bookkeeping or your bookkeeper's bookkeeping is poor quality. Your small business bookkeeping reports, third party statements and government information reports submitted to CRA (or IRS). You or your bookkeeper have processed all the paperwork and put it This means the accountant has not been engaged to It is most likely that you have a notice to reader engagement, not a If you have all the above small business bookkeeping informationĬompleted and with you on your first visit, your new bookkeeper shouldįrom the list below, you will see your accountant doesn't want to look at all of your receipts and invoices like your bookkeeper does. The same page is a box with links to more tips on how to reduce your Organized your records, the less it costs to process them. That can reduce your overall small business bookkeeping fees. payroll information and reports including new employee information, payroll reports, PD7As, T4s and T4 summary.Reports filed with CRA this year, notice of assessments, tax all government correspondence and tax forms including GST/HST.listing of all customer deposits and / or prepayments received.an accounts receivable listing would be helpful - even your best guess helps marking any doubtful accounts.customer invoices and sales receipts issued including outstanding customer invoices.listing of accounts payable would be helpful - even if it is just your best guess.vendor / supplier invoices both paid and unpaid.a listing of all pre-authorized direct deposits and withdrawals on your bank and credit card statements.investment statements, bank statements including deposit slipsĪnd returned cheques, credit card statements including card payment.documents pertaining to lease agreements, financial loans, insurance or any contracts you have entered into.documents pertaining to the purchase, major repair, and sale of capital assets.expense receipts including internet receipts - sorted by source of payment: bank, credit card, business cash, and personal funds.It will probably look something like this: Your bookkeeper will likely give you a client start-up bookkeeping checklist. you may be in big, Big, BIG trouble if you are ever audited. If your bookkeeper (is that you?) doesn't have the knowledge to categorize your transactions properly. Personal expenses should not be going through your business accounts. The only thing bookkeepers really don't need are your personal receipts. They need it to ensure they have recorded your Your bookkeeper wants to see ALL your source documents pertaining to your business. ![]() ![]() The T2125 Schedule Series - Canadian sole proprietors.The Employee Payroll Rates - US and Canada.The Self Employed Rates - US and Canada.The Travel/Auto Rates Options - US and Canada.
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