We will provide you with timely financial information and show you how to use it to make smart business decisions. Letting our experienced professionals help is a simple as giving us your receipts and other financial records and letting us do the rest. We can:
We work with all major accounting software, so there’s no need to start from scratch and you can customize your level of service – monthly, quarterly or annually – to fit your needs and budget.
At Ashcroft & Associates we offer complete bookkeeping services which include:
In a nutshell, bookkeeping is maintaining and updating financial records and checking for accuracy. This means reporting money that is paid to a business as well as money the business spends. Reports are then generated on the income and expenses which come in on a weekly or monthly basis.
In a business, it is important that records are accurate. At Ashcroft & Associates, we use a variety of accounting software to make this process easier. This includes Simply Accounting/Sage 50, QuickBooks and QuickBooks online, Caseware as well as the ProFile tax program. These programs make it simple to analyze and print records when required.
The benefits to maintaining accurate records can help a company manage its cash flow and have a good overview of both its profits and losses. With this information readily at hand, a company can easily make plans based on current and past financial performance. Also, bookkeeping allows a company to stay abreast of where every cent that comes into the company goes, reducing the chances that someone may illegally keep some of the money for himself. However, one of the most important reasons for bookkeeping is the Canada Revenue Agency. CRA requires all businesses, even small and home-based companies, to keep accurate records. Federal and Provincial tax agencies have these requirements as well, and there are stiff financial penalties for those that fail to comply.
The records generated by bookkeeping often come into play at tax time. A company can use these records to determine how much tax it must pay to the various tax agencies. If one of the agencies discovers a discrepancy on a tax return, the company can then turn to these records to prove a figure.
A business that has a lot of income and expenses may hire a professional bookkeeper to provide record keeping services. At Ashcroft & Associates we are well-versed in tax requirements which will give your business an advantage over companies that try to figure these things out on their own.
Contact Ashcroft & Associates today for a free consultation to learn how our professionals can streamline your efficiency but more importantly, ensure your bookkeeping is done correctly and in a timely manner.