TORONTO ACCOUNTING & TAX
Phone: (647) 297-6896
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Bookkeeping

  • Bookkeeping
  • Bank Reconciliation
  • Financial Statement
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Bookkeeping

Bookkeeping is the recording of financial transactions, including sales, purchases, income, receipts and payments by an individual or organization. 

 •  Purchased supplies on account

 •  Received cash for providing a service

 •  Paid expenses in cash

 •  Received an investment of cash from the owner

 •  Experienced a cash withdrawal by the owner.

 •  Received cash from a customer who had previously been billed for services provided

 •  Paid cash to purchase equipment

 •  Paid employee salaries

 •  Paid a creditor from whom the business had previously purchased supplies on account

 •  Sold new shares of  stock

 •  Paid cash for monthly rent on the office space

 •  Paid cash for monthly utility bills

 •  Performed services on account

 •  Made a payment on a loan received from the bank

 •  Purchased for cash merchandise that will be later resold for profit


Five reasons why bookkeeping can benefit you

  • Complete and organized records can help identify the sources of income

  • Complete and organized records can mean tax savings

  • Complete and organized records can prevent most of the problems if the business is selected for audit

  • Good records keep the owners better informed about the financial position of their businesses

  • Complete and organized records may help businesses get loans from banks and other creditors

 Address: Unit 310, 505 Hwy7 East
                 Markham, ON
                 L3T 7T1



Phone: (647) 297-6896
Fax:     (647) 367-0734
Email:   info@torontoaccountingandtax.com
Website: www.51tax.ca
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