9 Reasons You Should Hire a Bookkeeper for Your Start Up (QUIZ)
Once upon a time you had an idea. An exciting idea. So, you turned that idea into a business. Your dream job. Now, what would you rather spend your day doing? Growing your start up? Or doing the books?
As a new business owner, there are many things for you to think about and consider – including the all-important notion of bringing in an outside expert like the professionals at Financly to help you with the financial operations that go into running a business.
The Pros and Pros of Hiring a Bookkeeper
Outsourcing your bookkeeping requirements allows you to reduce:
- salary and payroll costs
- benefit costs
- employment insurance costs
- recruiting, hiring and training costs
- staff overhead (office equipment, furniture, supplies, space rental)
- compliance issues with Canada Revenue Agency (CRA)
- exposure to employees absences
Making a bookkeeper part of your team allows you to increase:
- peace of mind knowing your bookkeeping is being done right every time
- your ability to make sound business decisions
How Bookkeeping Savvy Are You? Take this quiz and receive a gift.
Take the Financly Bookkeeping Small Business Quiz and to see what you know.
Then, click the link below for your chance to receive a special offer from Financly – something just for you.
1. At what business income threshold are you required to register for HST?
2. If you deduct $54.89 from an employee for Canada Pension Plan (CPP) how much do you as the employer have to contribute to CPP?
3. What information about your business will you find on a balance sheet report?
- Income, assets and liabilities
- Income, expenses and owner’s equity
- Assets, liabilities and owner’s equity
- Hmmm. I should know this. I’ll call a bookkeeper and let you know!
4. Can you claim office supplies used for your business that you purchased with your personal bank account as a business expense?
- Only the non-taxable portion
- Let me check with a bookkeeper and get back to you!
5. Can I claim home office expenses if my office is the kitchen table?
- Yes, as long as you have customers visit you at the kitchen table.
- No, you must have a designated space in your home used only for business purposes.
- Yes, as long as you leave your computer and paperwork on the table at all times.
- No, my spouse would kill me if I took over the kitchen table.
Time is money. Your time. YOUR money.
That’s time you use toward getting your new business operating the way you want it to – so you can make money!
From time and financial savings to the focus on expertise, hiring a bookkeeper makes good business sense.
Teresa (Terri) Slack