Bookkeeping For Canadians For Dummies (For Dummies (Business - download pdf or read online

By Lita Epstein

ISBN-10: 047073762X

ISBN-13: 9780470737620

Bookkeeping For Canadians For Dummies contains info on keeping an eye on transactions, realizing stability sheets, and preserving ledgers or journals.  It covers how you can create monetary statements and likewise exhibits tips on how to function debts for businesses.  Small company proprietors and staff will locate that Bookkeeping For Canadians For Dummies additionally comprises appropriate, up to date tax information.  additionally, the booklet teaches tips on how to realize the assets and liabilities to the enterprise.

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Extra info for Bookkeeping For Canadians For Dummies (For Dummies (Business & Personal Finance))

Sample text

Specify up to three main products or services that you provide or contract, and the estimated percentage of revenue they each represent. % % % A5 Figure 1-2: Page two of the Request for a Business Number form. GST/HST information – For more information, see Pamphlet RC2, The Business Number and Your Canada Revenue Agency Accounts. Do you provide or plan to provide goods or services in Canada or to export outside Canada? If No, you generally cannot register for GST/HST. However, certain businesses may be able to register.

We talk more about the Chart of Accounts in Chapter 3. 11 12 Part I: Basic Bookkeeping: Why You Need It Recognizing the Importance of an Accurate Paper Trail To keep the books, you need to create an accurate paper trail. You want to track all your business’s financial transactions so that if a question comes up at a later date, you can turn to the books to figure out what went wrong. An accurate paper trail is the only way to track your financial successes and review your financial failures, tasks that are vitally important in order to grow your business.

Bookkeepers don’t need to have a professional accounting designation. Many small-business people who are just starting up their businesses initially serve as their own bookkeepers until their businesses grow large enough to hire someone dedicated to keeping the books. Few small businesses have accountants on staff to check the books and prepare official financial reports; instead, they each have a bookkeeper on staff who serves as the outside accountants’ eyes and ears. Most businesses do seek an accountant who has a professional designation to perform all of the necessary duties and responsibilities as required by the business owners and by the different Canadian laws.

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Bookkeeping For Canadians For Dummies (For Dummies (Business & Personal Finance)) by Lita Epstein


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