Accounting and Bookkeeping Services Located In Brantford, Ontario
Let Brantwood Tax's extensive years of accounting and bookkeeping experience support your business, big or small:
- Bookkeeping and Accounting Services
- Corporate Tax Services
- Audit Assistance / CRA Correspondence
- Payroll Services
- Corporate Tax Consulting
- Corporate Tax Compliance
Our business tax professionals are up to date on all the latest tax laws and changes to assist persons such as...
- Self-employed individuals
- Small business owners
- Commission-only salespersons
- Rental property owners
Proficient in the latest automated Brantford accounting services for small business helping you save time and avoid errors:
- Microsoft Office Applications
- ACCPAC / Simply Accounting
- Custom Web Based Applications
More About What We Do, and How We Can Help
Are you a business owner in the Brantford area who needs help managing your company? Do you find yourself becoming lost in piles of paperwork? Are you complying with law regulations pertaining to your financial record keeping? If you answered yes to any of these questions, it may be time you seek a qualified bookkeeper and accountant.
Whether you are an experienced or new business owner, you want to be rest assured that your company has current financial statements and a suitable accounting software to store data. Bookkeeping services are encouraged to help take care of the paperwork & transaction recording running a business brings. This will consequently give you more time to focus on expanding your business and bringing in more clients.
Even when owning a small business, it is imperative that you keep an updated set of books for when tax season comes around. In the case of an audit, you want to be sure your company can answer for all transactions performed. Audits will not be content with records that seem rushed or thrown together at the last minute. Entering data is a routine that must be done regularly. Your business will need to have a record of any payroll, inventory, accounts payable, or accounts receivable transaction. This is where having a very short list of trusted Brantford accountants is imperative.
With so much to consider, bookkeepers and accountants are integral to the success of a company. This also helps you understand where your money is going and the amount of money coming into your business. Hiring someone specifically for this job is a smart investment to avoid a financial mishap down the road.
Who We Are
Brantwood Tax is a bookkeeping service located in the beautiful city of Brantford, Ontario. We proudly offer a wide selection of bookkeeping and accounting services for small business operators in the local community. Our services can be performed on site or remotely depending on your preference. We do only as much as you need us to and will adjust our schedule to meet yours as a bookkeeping company.
Dedicated to improving the financial health of your company, we are dedicated to offering you quality service through our team of bookkeepers and accountants. Our organization takes pride in improving a company’s financial records and helping falling companies get back on track. Our services guarantee to save you time, money, and resources. We ensure your books are up to date and reflect company spending accurately. When tax season comes around, we assure your records comply with state requirements, ultimately improving your financial records.
Consequently, we provide accounting services for small businesses including payroll accounting and inventory accounting. Our services serve as a one stop shop to a prosperous business. No matter the financial state you may find your company in, it is never too late to seek bookkeeping services. Our main focus is on helping small businesses with their accounting systems, income tax returns, financial statements, and more. With our affordable services and highly trained staff, we are here to help you get back on the right track to success.
At Brantwood Tax, we believe every company is deserving of accurate and timely financial statements. This gives you a clear picture of the transactions completed, consequently reflecting a current and accurate representation of where your company is heading. With suitable accountants you will have the guidance you need to make smart financial decisions. Our localized Brantford accounting and bookkeeping services do just this; we ensure our business owners know exactly where their money is going and the success of their company.
Our Team of Experts
At Brantwood Tax, we take pride in our friendly, experienced, and professional staff. Each and every one of our employees understand the importance of keeping financial records up to date. Our staff has been carefully selected to meet your education, experience, and skill set requirements. Because our team is composed of highly trained, motivated individuals we guarantee they will only serve as assets to your company’s success.
Our skilled and compliant bookkeepers know how to maintain records necessary for the business and required by the law. They understand how to enter transactions, provide general business administrative support, and ensure they are up to speed with legislative requirements and management reports. You can rest assured that our bookkeepers, as well as accountants, have a strong skill set when entering data and retaining documentation for transactions.
At Brantwood Tax, we want our clients to be successful. This is why we train all of our accountants to thoroughly keep and inspect financial accounts. Upon hiring one of our accountants, they will be directly involved in preparing your company’s financial statements and maintaining your general ledger accounts. There is so much to think about when running a business; let our services take some of that weight off your shoulders.
Conveniently located in Brantford, Ontario our accounting and bookkeeping services serve as resources to getting small businesses on the road to success. Our team of professionals is educated and friendly, bringing with them a broad understanding of the corporate world. Our main objective is to help the community of Brantford run successful businesses with accurate financial records.
Our team of experts performs basic bookkeeping tasks as well as advanced accounting work. The services listed below are only some of the many services we offer.
- Accounts Payable – our bookkeepers do a fantastic job managing your accounts payable department. When your company purchases goods or services from another company, the appropriate accounts in your general ledger have to be credited/debited. This double entry accounting method ensures an accurate record of all performed transactions. The balance of credit in Accounts Payable should be equal to the number of vendor invoices that have been recorded, but have not yet been paid. Failing to do so, may bring problems down the road.
- Accounts Receivable – it’s important to understand that an account payable is another company’s account receivable. Accounts receivable is money owed to your company. After a sale has been made and the product or service has been delivered, you must file this transaction under the Accounts Receivable category of your books. It is important to keep inflow greater than outflow.
- Payroll – you want to be sure your employees are being compensated accurately. Our payroll accountants record all gross wages, salaries, bonuses, commissions, and more. They understand the process of withholding payroll taxes, social security taxes, Medicare taxes, and state income taxes.
- Inventory – this type of accounting refers to the cost of the merchandise purchased, but not yet sold. Inventory is your company’s goods on hand. A company’s cost of inventory is related to their cost of goods sold that is reported and must be reported on the company’s income statement.
Why Is Bookkeeping So Important?
Proper bookkeeping is the most essential task of any business to avoid costly financial mistakes. Bookkeeping is the process of recording all financial transactions that occur within your business including purchases, sales, earnings, receipts, payments and more. Bookkeepers record the money that goes in and out of your company, keeping track of any transaction as soon as it is made.
Another important reason to have proper bookkeeping is to be able to analyze the financial state of your business. If you run into a problem, you’ll be able to see why you are not meeting your financial goals and plan ahead. It allows you to be sure your earnings are enough to cover your expenses and bookkeepers serve as guides to make financial decisions.
Do You Need a Bookkeeper or an Accountant?
Deciding on which type of professional is a question you may be asking yourself. There is often an idea that bookkeeping and accounting are the same thing; while both work with financial data and have a basic accounting knowledge, there are a few differences between the two. Although, the job of a bookkeeper and the job of an accountant differ slightly, this is not to say that one is more important than the other, because in order for a business to strive, both are integral parts.
Bookkeepers record every single transaction performed by a business including billing, purchasing, payroll, accounts payable, or accounts receivable. They usually work in small to medium companies. Normally, bookkeepers are not required to have a bachelor’s degree.
Some of their tasks are as follows:
- Processing invoices, receipts, payments
- Processing and maintaining your payroll system
- Preparing financial statements
- Managing accounts receivable and accounts payable accounts
Accountants on the other hand usually require a bachelor’s degree and they focus on the recording, interpreting, classifying, and analyzing of financial data. Accountants offer financial projections and advice to your company. Many times the accountant handles the bookkeeping portions of the accounting process as well. Our accountants are certified professionals who are happy to be a part of a booming business.
A few of their many services include:
- Taxation advance and planning
- Corporate reporting and compliance
- Fund advice
- Financial management advice
As you can see, bookkeepers and accountants hold several distinctions to the work they are employed to do. As a business owner, you must understand that the growth of your business relies heavily on both. Your accountant and bookkeeper work best together to serve the financial requirements of your business. Keep in mind that most of our accountants were bookkeepers at some point of time and most of our bookkeepers have a strong understanding of how accounting works.
We understand that basic bookkeeping can be overwhelming, even for small companies. If as a business owner, you feel like you no longer have control of your books, give us a call. We serve as mentors and guides to getting your business back on the right track to success.
With our bookkeeping and business accounting services, we guarantee you will never run into any legal trouble regarding the upkeep of your financial transactions of a business or individual. You deserve disciplined bookkeepers and certified accountants to help you maintain your company records. With our affordable prices, we give company owners peace of mind that their bookkeeping services are being kept up with.
Contact us for an appointment today! or give us a call: 519.758.0021. If you need any additional information regarding our services, hours, or location, please contact our office. We will be happy to assist you in scheduling an appointment with us, free of charge. You can reach us by phone, email, or in person. We look forward to meeting you and showing you how Brantwood Tax differs from local accountants services. Call now or send us an email to discuss your business needs with an experienced professional.