If you need a little help pulling together and filing your paperwork when it’s tax time in Canada, selecting a few organizational apps may serve as an effective solution. Technology tools are great for helping busy business owners like you stay organized year-round. Here are several apps that freelancers and small- and medium-size businesses find useful, especially for smoothing out those rough edges when tax time approaches.
Tax Help for Freelancers and Small Businesses
As a small business owner or independent contractor, tracking your business expenses is critical. For one thing, tracking helps you recognize and capture deductions that lower your tax bills. Apptivo Expenses works as an organizational app for individual freelancers, but the app offers numerous features that appeal to small- and medium-size businesses with multiple employees.
Apptivo Expenses also lets you import your company’s purchase order approval process. With this feature, your employees request purchases, then you or your designated management personnel approve the requests. You’re able to set the app to import bank or credit card statements, classify the expenses, and track them. Finally, sync all your data in Apptivo Expenses with your QuickBooks Online software, and information your bookkeeper or accountant needs at tax time is right there.
Good Record Keeping Simplifies Tax Time
Receipts aren’t the only documents you need to save for completing your tax return. Canceled cheques, income statements, balance sheets, payroll records, copies of invoices, and many other documents come into play during tax time. Fortunately, HubDoc is another organizational app that simplifies record keeping. HubDoc lets you upload documents from your computer, email them to the app, or just snap a picture. Then, the app organizes and stores everything for you. Even better, it uploads documents to your QuickBooks software, links them to the relevant expense or revenue, and codes them based on your preferences.
Integrate QuickBooks and SOS Inventory
If you carry inventory, you have to note your inventory’s value at the beginning and end of the year on your tax return. Organized inventory records mean an easier tax time for you and your accountant. SOS Inventory is an Intuit app that integrates with QuickBooks and helps you organize sales orders, assemblies, and manufacturing information from multiple locations. Full of comprehensive information, this app also tracks prices, sales history, and information on everything from bulk orders to individual items.
Upload Sales Info With Cloud Cart Connector
If you sell inventory online, you might want to check out Cloud Cart Connector. This app draws sales and inventory information from popular sites, such as eBay and Amazon, and helps streamline information from multiple channels. Like the other apps listed, Cloud Cart Connector uploads your information to QuickBooks.
Complete Payroll With MinuteDock
As a field service professional, freelancer, or employer, you need to know how many hours you’re logging for clients and the amount of time your employees are putting in. MinuteDock is a simple time-tracking app that tracks both you and your employees’ hours. This multi-functional app lets you enter hours manually and features a timer for tracking when you’re working on a certain project or for a specific client. QuickBooks communicates with this organizational app and lets you instruct your accounting software to dispatch invoices or complete payroll based on information from MinuteDock.
With new organizational apps added to your small business operations, you get peace of mind at tax time. Your bookkeeper and accountant work more efficiently and ask you fewer questions, giving you more time to focus on growing your business. QuickBooks Online can help you maximize your tax deductions. Keep more of what you earn today.