How to Keep on Top of Your Bookkeeping: Some Best Practice Tips and Tricks

In this video Dianne Mueller, presenter of My First Year in Business - A Financial Overview, will take you through some of her tips and tricks of how to keep on top of your bookkeeping, and the best practices you should consider when establishing your financial records and bookkeeping system.

Dianne explains that when starting your bookkeeping system you must ensure that you:

• Can find your important documents at all times;
• Have an audit trail for every transaction you post;
• Use computer software to run reports on your financial outlook;
• Reconcile your bank statements, credit card statements and vendor statements every month; 
• Comply with all CRA's document retention requirements (7 years to keep those receipts); and 
• File all your CRA remittances on time including payroll, HST and corporate taxes

In her seminar My First Year in Business - A Financial Overview Dianne delves further into the world of financial records and bookkeeping, explaining the different financial statements your company will need and how daily business transactions will affect your financial statements.  

If you don't know the difference between a balance sheet and an income statement or would like to understand what a cash flow statement is - why not check out the seminars page and find out dates of Dianne's seminars or call us at 1-800-667-2272.