We like to invest a little extra time with a new client. This extra time is spent listening to what they EXPECT, what they want moving forward and what their perspective is about the service they are requesting.
We’ve noticed a surge in new bookkeeping clients. Bookkeeping is customarily data entry based on statements and receipts provided by the client. Seems straight forward enough.
When asking new clients why they want to switch bookkeepers, we are hearing the same answers. There is a desire for more conversation to have questions answered and customized reports to help the client with business development decisions. These reports vary from weekly to quarterly and we are happy to accommodate these requests and return phone calls and emails to make sure there is a full understanding.
Why we are in conversation is in our name – we tell our clients:
“We want to help you Mind Your Own Business! You are hiring us to assist you in the best way for you, so YOU can make decisions for your business.”
It is very exciting for us to celebrate success with our valued clients who entrust us to help with their administration and operation support services. Let us know how we can help you mind your own business better.
Customers moan and groan about getting bank statements, credit card statements, receipts and deposit information gathered together for the bookkeeper. What is less fun than that?
A Revenue Canada Audit!
One of the reasons that you should have an accurate and up-to-date record of your revenue and expenses is that you will never remember three years from now, who you dined with on February 10th or what you bought that day that you claimed an expense that is on that fading white cash register tape. Having your bookkeeping organized makes an audit much smoother.
Government filings can be kept current and deadlines met when the bookkeeping is current. FILING on time is the law. Understandably, at certain times of the year, some businesses struggle to pay their HST owing as the cash flow is low. There are penalties for late payment, but it is the filing ON TIME of the HST report that is the law.
For yourself, to see clearly where you are spending your money and what products or services are bringing money into the business, your income statement is a valuable tool for you to analyze your financial situation and make plans for business development moving forward.
Not knowing your financial situation is like running your business blindly. You may be surprised to see that your bread and butter is in the smaller activities and that you need to pay attention to keeping those thriving while you chase the big projects, or you may see that too many resources are dedicated to the smaller activities that are lost leaders for your company.
At Mind Your Own Business, we work with our clients and communicate regularly as we maintain their books and make sure the government filings are on time.
Thank you for reading this blog post! Bookkeeping is generally an unwanted discussion piece. Right up near the word “budget” that gives people chills, bookkeeping can be overwhelming if a business owner does not stay on top of spending and revenue collections. Income tax filing becomes a nightmare. Some of our clients prefer their bookkeeping to be a monthly activity and some prefer quarterly. In every case, we make sure that the client has access to their income statements and balance sheets and a detailed explanation of both. If you have not kept track of when your HST filing is due, we have and will make sure you are not behind on the filing – a legal requirement. Tidy and organized = less stress. We can help you keep your business expenses and income recording tidy and organized so you can manage your business better.