Accounting is a vital part of any business, but it can be easy to push aside for more immediate priorities. Customer orders to fill. Clients to meet. Inventory to order. These are things that must be done to keep your business running. Accounting & bookkeeping is easy to push to the side.
However, delays in managing your books can end up costing you. For example, if you do your own accounting on top of managing your business, you’ll find yourself behind and wasting time when it’s time to file your taxes. You’ll end up paying a premium to have an accountant clean everything up at tax time. Or you’ll finish up when you can despite missing the deadline. CRA interest and penalties are NOT tax deductible.
Information is key to running a successful business. How is your business performing? Are you making money? Was that digital marketing campaign successful? How much are you spending on shipping? Having up to date books will give you the comfort of knowing how your business is doing throughout the whole year.
Having a part time controller will help you read and interpret your statements. This is a vital, cost efficient way to let you do the parts of your business you love while we handle the part we love!
Why do you need us?
We help you monitor your finances
If you hire a part-time controller & bookkeeper for the long term, you will have someone to take care of both your monthly financial reports and your CRA reporting. We will have the context needed to make timely and accurate filings during tax season. Your CPA (part-time controller) and bookkeeper will also give you the information you need to understand your business performance and cash-flow.
We know how to maximize your tax benefits
Businesses are taxed differently from individuals. Your business may be able to write off certain expenses, such as utilities, phone and internet bills, or travel expenses. However, you could be the most orderly person in the world, but if accounting and bookkeeping is not something you do for a living, you could overlook one or two benefits that you can take advantage of. Your part-time controller & bookkeeper will be more knowledgeable in the tax exemptions and rules that apply to your business.
We keep your business out of financial trouble
If you outsource to BNC Consulting you will have a safety net for financial challenges. Should your company need to undergo an external audit, you will benefit from having a CPA part-time controller. During tax season we can provide some insight regarding your returns and collaborate with a network of CPA’s to ensure your business is clean.
We can also make sure that your business habits will not get you into difficult situations. We will advise you on financial matters that might affect your business, such as a divorce or the death of a business partner. A part time controller will help protect you from internal issues that can range from employee fraud or theft. In addition, we’ll keep your files in order which can really be of value when an audit is underway.
We can help you build your business credit
If you are a freelancer or a small business owner, you may find it hard to get loans from banks and lenders because small entrepreneurs are often viewed as riskier clients. For one, they often do not have detailed records of their activities. Detailed documentation is a requirement in securing a mortgage or a business loan, and your part time controller can take care of this for you.
Conclusion
Understanding your financial position is directly affected by how accurately you keep your books. Many people do not understand how a solid controller and good bookkeeping can impact their company’s growth and how hiring a stable accounting department can be a way for them to save money and enhance their businesses. Small businesses and freelancers need the stability of a sound financial plan to help them sustain their activities. Hiring a part time controller will greatly contribute to that.
If you are looking to outsource your accounting and bookkeeping, BNC Consulting can be your one stop cost efficient solution to providing a part-time controller and bookkeeping solution. With over thirty years of experience and networking, we will be able to work with you to provide a cost efficient solution to almost any situation.
Call us today at 204.227.7257.
