What Your Interiors Business Maybe Missing (if you don’t have access to quality financial information)

In addition to the legal requirement to have a proper set of financial records in place, there are a number of other operational and strategic benefits to having an optimal set of bookkeeping records together with associated accounting, tax and advisory services in place for your business:

* Have the ability to keep track of key performance measurements like cash flow, profit/loss, and net worth.

* Attain direct management of your cash, to ensure you are able to meet your obligations.

* Draw comparisons about your business growth (or lack of) from year to year.

* Obtain reliance on your ability to pay all of your bills and financial obligations on time as agreed.

* Determine whether or not certain business strategies are actually working to your advantage.

* Save time and lowering stress involved in finding the documents and information needed in the event of a Canada Revenue Agency audit.

* Benefit from the possibility of saving money on tax preparation because your tax preparers / advisor doesn’t need to bill you for time spent getting your information organized correctly.

* Avoid late fees, penalties and interest from Canada Revenue Agency if your business is non-compliant in its business filings and payments.

* Access enhanced records that will assist and facilitate in the preparation of yearly tax returns without extra worry.

* Avoid Canada Revenue Agency tax penalties, interest or taxes determined to be payable, due to your inability to defend deductions claimed.

* Simplify the process of raising capital with lenders and partners through your financial statements and disclosure of past performance.

* Attain a sense of pride in your financial records and eliminate anxiety about their presentation.

* Have the ability to stop worrying about your business money and focus on making your business profitable!

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