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The thought of sitting down with a box of receipts or pages upon pages of bank statements can stress out many business owners. This stress often results in procrastination and then this task becomes more and more daunting as time goes on. The Calgary bookkeeping services offered at White Raven Accounting & Bookkeeping can alleviate your stress. If you need bookkeeping services in Calgary or surrounding areas then contact us today to schedule a consultation.
People often wonder what the difference between accounting and bookkeeping is. Bookkeeping is just one segment of the entire accounting cycle. It is the method of taking your day-to-day activities/transactions and then recording them in a ledger, whether it be manually or electronically. Accounting services will then commence by using the information from bookkeeping to prepare the financial information and reports.
Having accurate bookkeeping of your transactions is the first step to being able to have accurate financial reporting – which equivalates to checking off steps 1-3 of the diagram below. Steps 4-8 are completed when performing the year end engagement (Corporate Tax and Financial Statements).
Business Growth and Planning
Proper financial data tracking is not just about managing the day to day operations of a business. It is also about being able to plan for the future. By tracking data in areas such as inventory, cash flow, profit and loss statements, expansion, and hiring, business owners can make informed decisions about their long-term goals and strategies.
Providing Accurate Financial Information
The key to making informed decisions in any business is access to accurate financial information. This includes properly reported and up-to-date books, which are essential for running the day to day operations of the business.
Logical Decision-Making
Many business owners tend to make decisions on the fly, without considering the financial impacts. This can be especially dangerous if they don’t have accurate financial data to help guide their decision-making process. Having up-to-date bookkeeping and proper financial data tracking can help ensure that business decisions are based on logic, rather than guesswork.
White Raven can help small businesses navigate the often complex process of identifying and claiming tax write-offs. We are well-versed in the tax laws and regulations that pertain to small businesses, and our team of experts can assist you in identifying and properly documenting expenses that qualify as write-offs. We can help you claim deductions for business-related expenses such as office supplies, equipment, travel, and education. Additionally, our team can also help you with identifying and applying for any available tax credits that your business may qualify for
At White Raven Accounting, we offer daily, monthly, quarterly and annual bookkeeping services to clients in Calgary, AB. Our services are tailored to the needs of your business and are designed to keep your financial records accurate and up-to-date. Our experienced bookkeepers can handle your bookkeeping needs, regardless of the size of your business or the volume of transactions. Contact us today to learn how we can help your business thrive.
Our Calgary bookkeeping services also include, if needed, bi-weekly monthly payroll, commissions and bonus payments, inventory management, GST management, tax remittances, profit & loss statements, accounts receivable and accounts payable management, cash flow management and bank reconciliations.
This service tailored to your business’ specific needs in a way that will help you streamline your business to operate more productively. We are able to assist with your bookkeeping needs in many ways. This includes but is not limited to: common accounting software such as QuickBooks or Sage, or simply a client synoptic (excel spreadsheet).
Contact us today to learn more about how White Raven Accounting’s bookkeeping services can help your business thrive. Have your bookkeeping done right so you can make informed financial decisions while focusing on your business, stress free! Contact White Raven Accounting & Bookkeeping for a free consultation or if you have any questions regarding our bookkeeping services.
If you have any questions or would like to book a consultation, please submit your name and contact information and we will get back to you as soon as possible.
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