Small Business Accountants in Toronto

By July 31, 2020 Informative Resources
small business accountants in toronto

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.

Leave a Reply