Servicing SMEs Throughout Atlantic Canada
Sales Orders are documents that serve a dual role in the organization’s administrative system. They are generated by the organization after receiving a purchase order from a customers. Firstly, the Sales Order benefits the customer, as it serves as confirmation that their order has been received, and provides detailed order information such as quantity, price,…
An expense is deemed a capital expense and not a current expense if the tangible item is for long term use. For example, equipment or office furniture you purchase would be considered a capital purchase (asset) because your business will use the desk or computer for many years. If your business purchased a computer for…
Reconciliation is a practice that should be completed on a regular schedule to ensure that business records are kept up to date and as accurate as possible. Although this sounds like a very common sense approach, it is not always that common. For example, if your vendor sends a monthly statement (as most do), you…
There are some things you can do throughout the year to be better prepared for your accountant when the time comes to prepare your year end file. This can save that long list of items to deal with at what always seems to be the worst time. Here is a good place to start. Create…
Waiting until the last minute (tax time) to get your bookkeeping in order is not in your best interest. I know the task can seem a little daunting and is very easily placed at the bottom of the ever growing priority list but you have options that can be implemented immediately with very little effort.…