GTA Accounting Insights

Category: Bookkeeping & Accounting

7 Things to do to Make Sure You Spend Less Time on Bookkeeping and More Time on Other Business Functions

It is pivotal for every type of business to ensure that all business-related transactions are up-to-date and recorded as accurate. The financial success of many organizations depends on how their accountants handle the bookkeeping activity. If companies organize their finances; both on the revenue and payments sides, they can’t be deprived of high profits. According…
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Is Hiring a Professional Tax Preparer Good or Bad?

The tax season is fast approaching. Much depends on how you approach this; do you pay taxes yourself or use the services of an expert. In order to grow your business, tax preparers can promise you big returns, some of which will be valid, and others may be not. Read on to find out what…
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When to Outsource Bookkeeping for Your Business

Outsourcing your bookkeeping to an accounting firm is an important decision for any business. Below are few of the factors to consider: Filing a tax return based on wrong financial statements may lead to CRA’s penalties. So as a rule of thumb when your business grows, decide for outsourcing of bookkeeping to a professional. Your…
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6 Reasons Why You Should Outsource Bookkeeping

It is an important decision to outsource the bookkeeping to an accounting firm especially when you don’t have the in-house accounting expertise for your business who can professionally handle bookkeeping issues for your business. For any organization, it is important to assess as to what extent the bookkeeping services can be outsourced. In order to…
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Tax Accounting Toronto Checklist: 20 Key Things to Do and When to Do Them

Be it personal or corporate tax accounting services, GTA Accounting’s bookkeeping services are here to guide you through the process of maintaining an organized and easy to access bookkeeping system. To ensure your business’ success and protection through proper tax accountant, the following list will do exactly just that, let’s start: Daily Accounting Tasks: 1:…
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Tax and Accounting Advice for Dentists

Many dentists enter into business to practice their profession which enables them to make a living while helping others. Inevitably, the business also requires a dentist to be a skilled book-balancer, manager, and a financial strategist. If you are a dentist, you will realize that performing everything required to keep your business afloat, while earning…
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Accelerate Your Business with Bookkeeping Services in Toronto

Operating a business in a reactive style has consequences, particularly for sole business owners. Such owners are characterized by the way they deal with issues as they crop up, how they opt to manage issues only when they occur and how they rush to tend to their books when tax season/time to settle their bills…
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5 Bookkeeping Habits Every Entrepreneur Should Adopt in 2019

Excellent bookkeeping is fundamental to the progress and survival of your business. Failure to conduct proper bookkeeping often leads to serious problems like making incorrect tax filings, reduced cash flow among others. This often poses such a great risk to developing businesses resulting in the closure of most. To prevent this, this article has been provided for…
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Common Bookkeeping Mistakes Entrepreneurs Make!

As an entrepreneur, your prime goal is to ensure that your business grows and thrives to ultimate heights and to achieve this, you absolutely need to avoid these frequent bookkeeping mistakes we are going to explain below. Handling all auditing work by yourself Most business owners have a DIY attitude, which means that they do…
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Why Bookkeeping is a Pain Point for Small Businesses

Without accounting business automatically dies. This means that, not only will it be hard for you to determine the robustness of your cash flow, but also it will definitely mean that you will rub shoulders with the CRA, and they are especially stern and objective with businesses that produce incorrect entries come tax seasons. Why is…
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