Blog

xero accounting downtown toronto

Xero Accounting Downtown Toronto

By | Informative Resources | No Comments

Streamline Your Business With Xero Accounting Downtown Toronto

As a business owner in Downtown Toronto, your time is valuable. Your goal is to ensure you are as productive as possible every minute of every day. The last thing you want to do after a busy day is to sit at a desk and enter customer invoices, job estimates, or other day-to-day activities as some accounting software programs require. With Xero, you can grow your business and understand where your money is going. From importing bank transactions to sending invoice reminders, Xero Accounting Downtown Toronto has all the time-saving tools you need to grow your business, and automatically handles tasks to get your accounting done faster.

Finances are an integral part of your business. Working with professional accountants and bookkeepers helps streamline your year-end preparation. With the help of Xero accounting software provide you with a better overall picture of your business’s progress and potential. Our team of professionals at Toronto Tax Experts work with you every step of the way, to help you understand your numbers and help you grow. 

Xero Accounting Features

Xero accounting Downtown Toronto is always secure and reliable, and our experts are here to support you 24/7.

Reconcile In Seconds: Import and categorize your latest bank transactions into Xero. Click to reconcile.
Get Paid Faster With Our Invoicing: Send online invoices to your customers and receive updates when they are opened.
Keep Accurate Records: Quickly categorize your bank transactions as they flow into Xero each day. We help you track cash flow and prepare all necessary documents for tax season.
Keep Accurate Records: Quickly categorize your bank transactions as they flow into Xero each day. We help you track cash flow and prepare all necessary documents for tax season.
Keep Watch On Your Businesses Health: See the money coming in and going out daily with easy-to-read charts showing up-to-date figures.
Get Paid Faster: Reduce then time to get paid with online invoices that include a Pay Now button, and let Xero chase outstanding payments with automated reminders.

About Toronto Tax Experts Xero Accounting Services in Downtown Toronto

At Toronto Tax Experts, we love working with Downtown Toronto’s diverse group of entrepreneurs. Most small business owners don’t have the funds to hire a full-time accountant, let alone a team. TTE is Downtown Toronto’s leading accounting firm, offering business owners the opportunity to work with a large accounting department on a small business budget. Whether it’s bookkeeping for creative agencies, retail stores, health care professionals or retail businesses, we take care to customize our services to your needs. At TTE, with Xero accounting Downtown Toronto we set you up for success right from the start, and focus on the number so you can focus on the growth of your business.

small business accountants in toronto

Small Business Accountants in Toronto

By | Informative Resources | No Comments

TTE Is Your Leading Small Business Accountants In Toronto

The time has come to fulfill your dream of starting your own small business! As a small business owner, you need to get started correctly. At Toronto Tax Experts, our team of small business accountants in Toronto take care of the numbers, to allow you to focus on your business. 

Using a professional bookkeeping service will make you feel assured that your business will have predictable profitability into the future. With TTE Bookkeepers, you can focus on your Small Business and we will focus on the Bookkeeping. You will need to know at least the basics, which we list below.

Here are the main Accounts used in Small Business for Bookkeeping:

Assets: Bank, Accounts Receivables, Real Estate
Liabilities: Lines of Credit, Loans, CRA Tax, Mortgages
Revenues: Sales, Investment Income, Capital Gains
Expenses: Payroll, Rent, Mortgage Interest, Utilities
Equity: Accumulation of Net Income and can be used to Issue T5

The next step in the bookkeeping process will be to set up the chart of accounts in order to capture the income, expenses, assets, and liabilities in an organized manner. The Chart of accounts will be set up to be customized to your specific small business.

TTE Bookkeeping Services #1 Tip is to, keep all of your receipts. We use receipt bank to digitize them for you. You can run your accounts payable report to track. Here are the types of receipts you should keep:

  • Bills
  • Receipts
  • Bank statements
  • Credit card statements
  • Proof of payment

Get Started with a Professional Small Business Accountant in Toronto

At Toronto Tax Experts, we take pride in clearly explaining and navigating the often foggy landscape of bookkeeping and accounting and its relationship to business owners of all types. We help our clients choose and maintain systems relating to their cash, receivables, inventory, payables, sales, expenses, and any other accounts as required.

Our mission is to help your business succeed through insightful financial analysis and sound accounting methods. Our small business accountants in Toronto go beyond basic bookkeeping to provide financial modelling in easy-to-understand dashboards, proactive tax planning and preparation, and business consulting. We are here for you, whether you need to raise capital or help to manage your cash flow.

medical accounting toronto

Professional Medical Accounting Toronto

By | Informative Resources | No Comments

Physiotherapy, Chiropractic and Massage Therapy Medical Accounting Toronto

When it’s easier to perform an adjustment than doing your bookkeeping and corporate taxes, we’re here to help. When you’re in search of professional medical accounting Toronto, look no further than Toronto Tax Experts. Let us handle your bookkeeping while you focus on treating your patients.

If you’re like most chiropractors, physiotherapists or massage therapists, you wonder if you’re doing your bookkeeping and corporate tax return correctly. When we become your medical accounting firm in Toronto, we’ll keep you updated with the relevant financial data your practice needs to run smoothly and capitalize on opportunities for growth.

The Main Items You Should be Reconciled Monthly:

  • POS System to Bank Deposits
  • Financial Bank Accounts
  • Insurance Billing to Accounts Receivable
  • Current and Future expenses to Accounts payable
  • Run and Live by Cash flow Statement
  • Bank payments to Credit Cards statements

Once you have completed the above, you can be confident in your Income Statement and Balance Sheet. After you reconcile your financial information correctly, you are ready to make informed decisions based on those results.

medical accounting toronto

How to Get Started with TTE Medical Accounting in Toronto

We’ll discuss your office or practice’s bookkeeping needs to determine which package works for you. Once we have defined your needs, we will create an engagement letter for your review and sign off.

Now we get started on the bookkeeping. With Toronto Tax Experts medical accounting in Toronto, we work on monthly contracts, allowing you to cancel at any time. We’ll send you an email with relevant information and what files to send us to set up the software and CPA representation.

Set a call with one of our CPA’s and review all remaining questions or concerns.

We will set up Receipt Bank and Cloud Accounting software of your choice and send you login credentials.

Next, the team at TTE will ask you for your bank and credit card statements each month. Please send them to our team to ensure updated books by the next month.

The accounting software will update your bank account via the secure connection every day, ensuring we can reconcile your accounts.

Now month-end is completed, your expert bookkeeper will accurately reconcile your bank and credit card accounts against general ledger balances. After, we will send you an email with a few uncategorized transaction queries.

Respond with the missing details and you are done!

Call Toronto Tax Experts today at 416-265-6170 or stop by one of our three locations in Queens QuayDowntown or North York today.

accounting services leaside

Accounting Services Leaside

By | Informative Resources | No Comments

Professional Accounting Services Leaside with Toronto Tax Experts

When it comes to accounting, you need dedicated professionals that understand your personal needs. Toronto Tax Experts accounting services Leaside offers clients an affordable and dependable way to catch up on their business’s financial records. Our chartered professional accountants personally work with each of our clients, allowing them to develop a strong understanding of your business’s financial situation. As a result, you are able to contact their bookkeepers during regular office hours via email, or phone, who are eager to help with any questions you may have.

Accounting services Leaside will make you feel assured that your business will have predictable profitability into the future. With TTE expert bookkeepers, you can focus on your business while we will focus on the bookkeeping. You will need to know at least the basics, which we list below.

accounting services leaside

Get Started with a TTE Accounting Services Leaside

At Toronto Tax Experts, we take pride in clearly explaining and navigating the often foggy landscape of bookkeeping and accounting and its relationship to business owners of all types. We help our clients choose and maintain systems relating to their cash, receivables, inventory, payables, sales, expenses, and any other accounts as required.

Our mission is to help your business succeed through insightful financial analysis and sound accounting methods. Our team specializing in accounting services Leaside goes beyond basic bookkeeping to provide financial modelling in easy-to-understand dashboards, proactive tax planning and preparation, and business consulting. We are here for you, whether you need to raise capital or help to manage your cash flow.

Our Process for Accounting Services Leaside

We’ll discuss your bookkeeping and small business accountant needs to determine which package works for you. Once we have determined your needs, we will create an engagement letter for your review and sign off.

At Toronto Tax Experts, our professional team specializing in accounting services Leaside work on monthly contracts, allowing you to cancel at any time. We’ll send you an email with important information and what files to send us to set up the software and CPA representation.

Set a call with one of our CPA’s and review all remaining questions or concerns. We will set up Receipt Bank and Cloud Accounting software of your choice and send you login credentials. Next, the team at TTE will ask you for your bank and credit card statements each month. Please send them, and your books will be updated by the next month. The accounting software will update your bank account via the secure connection every day, ensuring we can reconcile your accounts.

Now month-end is completed, your expert bookkeeper will accurately reconcile your bank and credit card accounts against general ledger balances. After we will send you an email with a few uncategorized transaction queries.

Respond with the missing details and you are done!

payroll service king west

Professional Payroll Services In King West

By | Informative Resources | No Comments

Professional Payroll Services In King West

Few words produce such different reactions from the employee and the employer as payroll. To the employee, payroll means getting paid, having benefits and pensions accurately calculated, and having the vacation pay accrued. To the employer, payroll means hours and even days of seemingly endless filling out of forms, keeping in touch with the pension administration, the workers’ compensation board, the tax people, and so forth. As a busy business owner, you have your hands tied with all areas of your business. The last thing you need to worry about is payroll. Let our team of professional accountants set up your payroll system right from the start. Our white-glove payroll service King West handles everything from issuing direct deposits to automatically remitting your payroll taxes free with any of our other accounting plans.

The best thing that you can do is put together a system that will last into the future. These efforts will bring exponential benefits to your business. Not only will you rest assured to understand the financial health of your company, but you will also be preparing for the future.

payroll service king west

Work With Accountants for Professional Payroll Services in King West

When you work with Toronto Tax Experts, you can efficiently access your financial information from anywhere, at any time. No more trips to your accountant or filtering through piles of paperwork; everything is accessible through your computer or phone.

About Toronto Tax Experts

At Toronto Tax Experts we love working with King West’s diverse group of entrepreneurs and businesses. Most small businesses don’t have the funds to hire a full-time accountant, let alone a team. TTE is King West’s leading accounting firm, offering business owners the opportunity to work with a large accounting department on a small business budget. We provide payroll services King West for creative agencies, retail stores, health care professionals or retail businesses, and we customize our services to your needs. At TTE, we set you up for success right from the start, and focus on the number so you can focus on the growth of your business.

independent contractor accounting queen west

Independent Contractor Accounting Queen West

By | Informative Resources | No Comments

Independent Contractor Accounting near Queen West

As an independent contractor, nobody understands your business better than you do. You manage your schedule, service fees, the projects of jobs you take on and become your boss. It is an exciting time; however, in the hustle and bustle of becoming an independent contractor, it can be challenging to keep track of necessary paperwork. At Toronto Tax Experts, our team specializing in independent contractor accounting Queen West takes care of the numbers, so you can focus on your business.

Finances are an integral part of your business. Working with professional accountants and bookkeepers helps streamline your year-end preparation. We provide you with a better overall picture of your business’s progress and potential. Our team of professionals at Toronto Tax Experts work with you every step of the way, to help you understand your numbers and help you grow. 

independent contractor accounting queen west

What is an Independent Contractor or Consultant?

There are a wide variety of names used to describe independent contractors or consultants. These include entrepreneurs, solopreneurs, freelancers, and sole proprietors, and the list goes on; however, the definition remains the same. These individuals are professionals who offer their services independently, through their means, and do not work for anyone else. Contractors, subcontractors, freelance writers, software designers, auctioneers, actors, musicians, and many others who provide independent services to the general public are independent contractors. They are very different than the traditional idea of an employee, both in work structure and financial paperwork.

Taxes for independent contractors are very different from employee taxes due to the nature of their work. There is no company, body or organization to mandate their pay and keep track of records. As a result, independent contractors must ensure they record their income and expenses themselves. This information is critical when filing taxes and can help save money at the end of each year. 

About TTE Independent Contractor Accounting Queen West

At Toronto Tax Experts, we take pride in clearly navigating the often foggy landscape of independent contractor accounting Queen West. We help our clients choose and maintain systems relating to their car, receivables, inventory, sales, expenses and any other requires accounts to allow you to focus on the growth of your business. 

Our mission is to help your business succeed through insightful financial analysis and sound accounting methods. Our team specializes in independent contractor accounting services near Queen West and the surrounding areas. We are here for you, whether you need to raise capital or help manage your cash flow. 

franchise accounting downtown toronto

Professional Franchise Accounting Services near Downtown Toronto

By | Informative Resources | No Comments

Franchise Accounting Services near Downtown Toronto

As a Franchise Owner, you run your own business without the risk of starting a brand new company. Like any business, you take on the many responsibilities of day-to-day operations, including some basic accounting tasks.

At Toronto Tax Experts, our specialized knowledge of franchise accounting Downtown Toronto ensures that we help create and maintain the necessary paperwork for monthly income and expenses for tax preparation and submission. Our franchise accounting consultants discuss your tax and accounting needs to determine the best course of action for you.

What is Franchising?

Franchising is a relatively flexible business method, and almost every type of business can be franchised. They help market a brand to a more significant number of customers. The brand already has an established customer base. When someone buys a franchised business, they already know there’s a strong demand for their products or services.

An individual owns each franchise location; however, the entire franchise is run by a larger company. To own a franchise, the franchisee must pay specific franchisor fees. The fees allow the franchisee to own the rights to the business’s brand, products and services.

 

franchise accounting downtown toronto

 

Professional Franchise Accounting Services in Downtown Toronto

At Toronto Tax Experts, we help clients streamline their financials and simplify the reporting process leading accounting services. Our franchise accounting professionals 

Using professional franchise accounting such as payroll services, we ensure your business will have predictable profitability into the future. We help you focus on your franchise while we will focus on the bookkeeping. 

Our franchise accounting contracts renew monthly, allowing you the flexibility to cancel any time. We will send you a kick-off email with relevant information and what files to send us to set up the software and set up CRA representation. However, if you have any questions or concerns, you can speak to a member of our team to discuss your needs with the best-chartered accountants specializing in franchise accounting near Downtown Toronto.

 

About Toronto Tax Experts 

Financial planning in a small business is one of the most important things every small business owner should do. Therefore, it’s not just about managing cashflow but also about managing accounts payables and accounts receivables. Tax filing and year-end can be a lot easier if your bookkeeping is well maintained throughout the year.

At Toronto Tax Experts, we take care of your franchise’s tax remittances, payroll and all your other bookkeeping needs. Our workflow speeds up the process while keeping you up-to-date. Our team specializing in franchise accounting Downtown Toronto starts by sorting and preparing existing documents and data. Together we define a means to ensure that we receive all documentation in the most time-efficient way possible.

We thrive on providing affordable, customizable tax, bookkeeping and franchise accounting help for our clients. Our team provides you with the right information to make better decisions and keep you on track.

accounting consultant near davisville

Accounting Consultants near Davisville

By | Informative Resources | No Comments

Professional Accounting Consultants near Davisville

When you’re running a business, you can’t afford to get caught up in little financial details. You need to focus on the needs of your customers and clients. To ensure essential information, don’t get buried in your books and overlooked, give Toronto Tax Experts’ accounting consultants near Davisville a call today. Our team offers clients an affordable and dependable way to manage their personal and business financial records. 

At Toronto Tax Experts, our specialized knowledge of working with self-employed contractors, doctors and physicians, dentists and pharmacists, chiropractors and physiotherapists ensures that we can help create and maintain the necessary paperwork for monthly income and expenses for tax preparation and submission. Our accounting consultants discuss your business tax and accounting needs to determine the best course of action for you. 

Accounting Services

At Toronto Tax Experts, our specialized knowledge of working with self-employed contractors, doctors and physicians, dentists and pharmacists, chiropractors and physiotherapists ensures that we can help create and maintain the necessary paperwork for monthly income and expenses for tax preparation and submission. Out accounting consultants discuss your business tax and accounting needs to determine what package or hourly rate is right for your business. Once we assess your business needs, we organize the information in an engagement letter for your review and approval.

Professional Bookkeeping Services near me in Davisville

At TTE, our bookkeeping contracts renew monthly, allowing you the flexibility to cancel any time. We will send you a kick-off email with relevant information and what files to send us to set up the software and set up CRA representation. However, if you have any questions or concerns, you can speak to a member of our team to discuss your needs with the best-chartered accountants near me in Davisville.

accounting consultant near davisville

Keeping Track of Your Statements

We will set up Cloud Accounting software and send you login credentials. Next, the team at Toronto Tax Experts will ask you for your bank and credit card statements each month. Provide the required information and your books will be updated by the next month. The accounting software updates your bank account via a secure connection every day, and ensures that we can reconcile your accounts.

Now month-end is completed, your expert accountant will accurately reconcile your bank and credit card accounts against general ledger balances and send you an email with a few uncategorized transaction queries.

About Toronto Tax Experts 

Financial planning in a small business is one of the most important things every small business owner should do. Therefore, it’s not just about managing cashflow but also about managing accounts payables and accounts receivables. Tax filing and year-end can be a lot easier if your bookkeeping is well maintained throughout the year.

At Toronto Tax Experts, we take care of your tax remittances, payroll and all your other bookkeeping needs. Our workflow speeds up the process while keeping you up-to-date. Our chartered professional accountants near Davisville start by sorting and organizing your existing documents and data. Together we define a means to ensure that we receive all documentation in the most time-efficient way possible. 

We thrive on providing affordable, customizable tax, bookkeeping and accounting help for our clients. Our team provides you with the right information to make better decisions and keep you on track.

expenses from working from home

COVID-19, Working From Home and Expenses

By | Current Events, Informative Resources | No Comments

Due to the COVID-19 pandemic, working from home has become common and will most likely be how much of society works for the foreseeable future. However, employees are incurring costs building up an office in their home, so the costs must be reviewed for eligibility. Employers need to support employees to ensure the tax reductions can be realized if you work from home.

Read More