Conversion to a new Accounting System

Client Profile: A service-based partnership company earning $200,000 revenue with no employees

Client Challenge: The client’s sales and expenses were being tracked solely on spreadsheets which became very time-consuming and cumbersome. The client fell behind in updating the spreadsheets and subsequently became late in filing the corporate tax and HST returns.

Our Solution: We recommended an accounting software system that best suited the needs of the business and then proceeded to train the client to enter their own sales, purchases, customer deposits and bill payments into the system. We created a monthly checklist of accounting tasks including a reconciliation of the bank and credit card accounts and regular financial statement analysis.

The Results: Several years later, the client successfully utilizes the accounting system to track and measure monthly income and expenses. They consistently file their HST returns on time and have avoided further penalties, thus increasing their savings.

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