Accounting Tips: Get Organized to Reduce Accounting Fees

By QuickBooks Canada Team

0 min read

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.

Related Articles

Getting Engaged - Giving Your Accounting and Tax Clients Effective Engagement Letters

An engagement letter is a letter than defines the relationship between a…

Read more

Tips for Accountants to Consider When Managing Their Accounting Practice Finances

If you’re an accountant with your own practice, you also have to…

Read more

How to Create a Professional Image for Your New Small Business

When you launch a small business, it can be tough to compete…

Read more