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A basic accounting package is vital for small businesses to manage finances and comply with tax laws. Key features include:
Invoicing and Billing: Create invoices, track payments, manage customers.
Expense Tracking: Record and categorize expenses to monitor cash flow.
Bank Reconciliation: Match transactions with bank statements for accuracy.
Financial Reporting: Generate profit and loss, balance sheets, and cash flow reports.
GST/HST Management: Calculate and report sales taxes for Canada.
Includes working with popular Canadian accounting options like QuickBooks Online, Sage 50cloud, and FreshBooks that offer user-friendly tools for non-accountants. When selecting software, consider scalability, ease of use, integrations, and support.
A basic accounting package is vital for small businesses to manage finances and comply with tax laws. Key features include:
Invoicing and Billing: Create invoices, track payments, manage customers.
Expense Tracking: Record and categorize expenses to monitor cash flow.
Bank Reconciliation: Match transactions with bank statements for accuracy.
Financial Reporting: Generate profit and loss, balance sheets, and cash flow reports.
GST/HST Management: Calculate and report sales taxes for Canada.
Includes working with popular Canadian accounting options like QuickBooks Online, Sage 50cloud, and FreshBooks that offer user-friendly tools for non-accountants. When selecting software, consider scalability, ease of use, integrations, and support.