Bookkeeping Tips and Best Practices





The interactive transcript could not be loaded.


Rating is available when the video has been rented.
This feature is not available right now. Please try again later.
Published on Feb 12, 2011

http://www.smallbusinessbc.ca/seminars Dianne Mueller takes you through her best practice bookkeeping tips for your business:
1 -- Be organized - be able to get your hands on your sourced documents at all times.
2- Have an audit trail for every transaction that you post.
3 -- Use a computer bookkeeping software. The reports that they provide are very detailed and will give you the information you need to move forward.
4 -- Reconcile your bank statements, credit card statements and vendor statements every month.
5 -- Comply with all Revenue Canada document retention requirements which is 7 years to keep the receipts
6 -- File all your Revenue Canada (CRA) remittances on time -- payroll, hst, corporate taxes and instalments

If you follow these steps you will not only have a plan in place for if things get tight in your first year but will have a basis on which to grow your business in the future.


When autoplay is enabled, a suggested video will automatically play next.

Up next

to add this to Watch Later

Add to

Loading playlists...