A Handbook To Working With Us At Indie Bookkeeping
A business undergoes different financial activities that need to be recorded to know its expenses, revenues, and spending patterns. If left unrecorded, the company will not have accurate financial data. The expenses, profits, and other information cannot be obtained with accuracy, which hinders efficient decision-making and problem-solving. When you hire a professional bookkeeping company, they are now responsible for recording the transactions of your business.
We at Indie Bookkeeping are a bookkeeping company that offers full-cycle bookkeeping services for independent contractors and small businesses. We can help anyone with their business finances, and no business is too small. From simple spreadsheets to keep track of spending and electronically organizing receipts to QuickBooks software and payroll tracking, we understand that businesses need different levels of service, and we can customize our services to your needs.
Services we offer:
1. Simple expense tracking - We create an easy-to-read Excel spreadsheet so you can track your business expenses and see where your money is being spent
2. Simple tracking + electronic organization of receipts - Along with tracking expenses on a spreadsheet, we can digitize your receipts and organize them for you electronically, so you reduce the chances of losing all those small slips of paper.
3. QuickBooks - We can create a profile for your business using QuickBooks Online so we can use high-level tools to track your income and expenses, keep your invoices and bills organized and keep track of payments, and generate reports to show you the health of your business.
4. Payroll and T4s - In conjunction with a QuickBooks subscription, we can track your employees' payroll and make sure all government remittances are properly logged, and accurate amounts are recorded. We can also generate the T4/T4As for your employees at the end of the year.
5. Preparation for your accountant - No matter how we track your income and expenses, we can prepare reports at year-end to give to your accountant so they can prepare your tax paperwork efficiently and generate the most tax savings possible for you and your business.
Important aspects to keep in mind when working with us:
1. Paperwork - We need to be able to see the money coming in, and out of your business, so this means we need monthly bank/credit card statements and electronic and paper receipts for both expenses and income. We also need details about the people you pay so we know how to categorize the expenses to provide you with the most accurate reporting on your business.
2. Tax deductions - When working out of a home office, there are many different deductions you can claim. We need to know what you are spending in specific categories (rent/utilities/insurance) to generate a report for your accountant.
3. Business information - We need to know the details about your business so we can make the proper recommendations about the best services for your business.
If you are looking for full-cycle bookkeeping services for independent contractors and small businesses in Ajax, reach out to us at Indie Bookkeeping. We can help with invoicing, expense tracking, and bank reconciliations, as well as analysis and insight to help you manage your business. We can also help with payroll and preparing your books to submit to an accountant come tax time. We offer services like full-cycle bookkeeping, tax preparation, data entry and financial analysis to clients across Ajax, Durham Region, GTA and the surrounding areas. To learn more about the services we offer, please click here. To get in touch with us, please click here.