10 Things you Didn’t Know a Bookkeeper can do for your Business

When managing your business, you may be considering the benefits of having a bookkeeper. Even if you have taken a course yourself, having someone else take on the workload can be a huge help. If you are on the fence about whether or not you should hire a bookkeeper, consider these ten things you may not have known a bookkeeper could do for your business.

1. A bookkeeper can prepare Notes to Reader (NTR)

The statements and compilation agreement (or NTR) which can be required before a small business corporate tax return can be prepared by the bookkeeper on behalf of the tax filer to ease the tax season workload.

2. A bookkeeper can file tax remittance

Quarterly GST – payroll – PST filing

3. A bookkeeper can do year-end adjustments

As a part of your year-end taxes, the adjustments can take up a lot of time, you can also pass this off to your bookkeeper to make things easier.

4. A bookkeeper can file taxes

Annual filing if you don’t want to go through a CPA

5. A bookkeeper can prepare a business plan

We have talked about the importance of business plans in previous Entreflow blog posts, so to perform this annual task, you can pass this off to your bookkeeper as they have a closer look at how the numbers run

6. A bookkeeper can implement an accounting software

While outsourcing an implementation specialist is an option, your bookkeeper can be in charge of researching and bringing in software that they will first-hand know is best for your business

7. A bookkeeper can perform a preliminary audit

Instead of having an auditor come in for the preliminary audit in case of business closure, your on-hand bookkeeper is legally authorized to complete this task.

8. A bookkeeper can help select apps for business functions

Along with general accounting software, a bookkeeper is capable of knowing which support applications will expedite workflow in other areas like time tracking, marketing, and other specialties specific to your business.

9. A bookkeeper can perform HR functions

If you are a smaller business and not yet in need of a full-time human resources representative, your bookkeeper may be trained to legally handle all of the duties and obligations.

10. A bookkeeper can represent a business with tax agencies such as CRA

Dealing with the CRA can be a hassle, especially for the full time owner of the business. You can easily assign authority to your bookkeeper to directly deal with the CRA instead of the business owner needing to be a middle-man.

Even if you already have a bookkeeper, you may not be using them to their full potential. Instead of hiring on a secondary person to ease issues around the office, take into account these additional areas in which your bookkeeper can legally act.

By |2019-06-03T18:28:20+00:00May 24th, 2019|Finance|