What bookkeeping system to use?

There are so many bookkeeping programs now. So how do you figure out what is the best for your small business? I don’t dislike any program but I would ask the following questions.

What do you need? Are you a sole proprietor or are you incorporated? Do you need payroll or will you need payroll? Do you have inventory? ….

Is the program user friendly? As a business owner will you be able to do entries if needed? If you make a mistake, is it easy to fix? Will you need training and if so is it offered? How is the customer support? Is it easy to grab reports?

What are the bonus features? Is there tax support?  Can you create a budget or forecast?  Is there built in payroll?  Is there a mobile app that allows you to use the program anywhere? Can you have multiple users and limit certain access?

My favorite programs for small business are the following.

A. Quickbooks online – Great price, lots of features, easy to use

B. Freshbooks – Great for a sole proprietor. The invoicing and invoice process is amazing. Easy to use.

At the end of day it is most important to keep ontop of the numbers. Know your numbers, know your system, have a process and be successful.

Tax Time is Approaching

It is that time of year again.

Here is a list of some important dates coming up.

Feb 28, 2019

  • Employers due date for filing T4, T4A and T5 slips

March 1, 2019

  • Deadline for RSP Contributions

April 30, 2019

  • Individual tax returns are due
  • Self employed tax owing is due

June 15, 2019

  • Tax returns for self employed individuals are due


-For those who file gst/hst annually, filing is due three months after year end.

-For those who file gst/gst monthly or quarterly, filings are due one month after the reporting period.  

Corporate Year End filings are due 6 mos after the year end.

Get ahead of your taxes.    Have your prior year end filings.   Make sure you books are up to date.

Visit us today.  Even if you want us to just take a look. www.sumbookkeeper.com

TIP:   Sign up for “my business account” through CRA and have all your small business taxes in one place with easy access.