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Bookkeeping 101

January 12, 2023

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What Employers Needs to Know

Topics Covered

• Difference between an accounting firm and a bookkeeper and how both are essential
• How to set up your records and filing systems
• Sole-proprietor and incorporation-why incorporate
• HST-annual, quarterly or monthly remittance periods and best practices
• Banking and credit cards for business
• Allowable expenses-what can be a ‘write-off’
• Vehicle expenses-how to track and the different tracking for corporations and sole-proprietors
• Payroll – best practices
• Accounting software-which is best for your business and why
• App Solutions – how to embrace the latest technology to eliminate the shoe-box of receipts
• Reports – Income Statement or Profit & Loss, Balance Sheet and more
• Q and A period

 

Hosted by: Small Business Advisory Centre (Smiths Falls/Lanark County/north Leeds Grenville)