Top Ten Reasons to Outsource your Bookkeeping

    1. Much lower cost than a full or even part-time bookkeeper on staff. Factor in payroll costs, health insurance, worker’s compensation, vacation pay, retirement benefits, and the cost to hire and oversee an employee and outsourcing is significantly less money.
    2. Professional attention to detail. An employee is paid for their time just to show up, but a bookkeeping service is paid to do your books accurately and promptly.
    3. Less of your time required. Gain back the time you spent on record-keeping, training, and overseeing an employee. We are quite capable of working independently with a minimum of your time required.
    4. Avoid financial headaches. We can automatically bill and remind your customers to pay for your services, and pay your bills on time.

5 Explosive Bookkeeping Tips

    1. Always keep your business finances separate from your personal finances. Don’t give the tax auditor a reason to audit both.
    2. File all your tax compliance reports on time to avoid penalties, even if you can’t pay the amount owing.
    3. Keep organized by:
      • developing a method for handling all your paperwork;
      • entering your bookkeeping data in batches; and
      • reviewing your bank statement and financial reports monthly.
    4. Audit proof your records.
      • Keep all your receipts, no matter how small the amount and make sure they are legible. Receipts you must keep include debit receipts and credit card receipts.
      • Deposit all your business cash flowing into the business … so you can prove what was income (taxable) and what was contributions or loan proceeds (not taxable).
    5. Keep a business journal to diarize your logic for your business ventures. It will help show you incurred the expenses with the expectation of profit.

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Contact

Phone: 250 870-4554

Judy(R**eplace this parenthesis with the @ sign)kelowna-bookkeeping.com