2016-12-12 00:00:00 Finance and Accounting English Want to reduce accounting fees? All it takes is a little organization on your end. Review this list of simple tips to help you save money... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/Man-Business-Organized-Reduce-Fees.jpg Accounting Tips: Get Organized to Reduce Accounting Fees

Accounting Tips: Get Organized to Reduce Accounting Fees

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Most accountants bill by the hour, and if you want to save money and reduce accounting fees, you should have your financial records well-organized before you meet with your accountant. The following tips can help.

  1. If using paper invoices and receipts, organize everything into categories and tally up the totals. For example, put all receipts related to vehicle expenses together and add them up.
  2. Alternatively, track expenses electronically so you don’t have to pay an accountant to comb through paper receipts for hours.
  3. If working with a new accountant at tax time, remember to bring your notice of assessment and prior year’s tax return so he or she can easily access your information with the Canada Revenue Agency.
  4. Use accounting software to generate financial statements so your accountant can see a snapshot of your business and advise you accordingly.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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