Just 15 minutes of free tax consultation could save you 15% or more on your tax refund savings. BOOK-KEEPING and ACCOUNTING are part of running any business. At economical tax we offer in addition to TAX PREPARATION, HST REMITTANCE, PAYROLL SERVICES.
Benefits to keeping organized records↑top
Good records can help you plan for decisions that will affect the future of your business. The more organized your records are, the more you can get from them.
Organized records can help:
- Track and compare past and present financial positions
- Plan and forecast future financial positions
- Provide information to make good business decisions
- Satisfy reporting obligations, notably to the Canada Revenue Agency
- Save time and energy if your business gets audited
- Income records
See what you should track in your income records and access a sample spreadsheet.
- Expense records
See what you should track in your expense journal and access a sample spreadsheet.
- Free to low-cost applications
Discover how using low-cost information and communications technology products can increase sales and productivity for your business.
Types of records to keep↑top
When you run a business or engage in any commercial activity, you need to keep records of various business transactions. These records include:
- Paper or electronic receipts
- Details of expenses and sales
- Payroll details
- Taxes collected and paid