Investment Advisor, iA Private Wealth Inc.; Insurance Advisor, iA Private Wealth Insurance
How can a small business benefit from a bookkeeper? Interview #5 - Wendy Scott
This month I caught up with Wendy Scott from In Balance Accounting for my quarterly interview.
Jeff: Welcome Wendy. Can you please tell me exactly what services a ‘bookkeeper’ provides?
Wendy: A bookkeeper organizes the company income and expenses into a format so that the company has a balance sheet and income statement. He/she can calculate payroll and assist in filing all government tax filings such as GST, PST,WCB and payroll deductions. They then pass this information on to the Certified Professional Accountant to file the company tax return and provide formal financial statements to the shareholders. In the case of a proprietorship the information is filed on the owner’s/partner’s personal tax return.
Jeff: When should someone hire a bookkeeper versus an accountant? Wendy: An accountant can do the same things a bookkeeper does, but they will charge significantly more to do this work. There is also a more personal relationship between a bookkeeper as they would work more closely with the owner.
Now that many of us have been double vaccinated, thoughts of lounging on a beach in Hawaii or finally seeing the Sistine Chapel in Rome are back in our bucket list.
Before you book that flight, make sure you are insured for medical emergencies!
Our next webinar will be able to address all your COVID-19 travel insurance questions. Make sure you attend one of our two sessions:
Greenfeld Financial will be closed from December 24th to January 3rd, 2022.
If you require any assistance, please ensure you reach out prior to
December 24th in order for us to process any trades.
See you all in the new year!
This information has been prepared Jeff Greenfeld who is an Investment Advisor for iA Private Wealth Inc. and does not necessarily reflect the opinion of iA Private Wealth. The information contained in this newsletter comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors. The Investment Advisor can open accounts only in the provinces in which they are registered. iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates. *Insurance products are provided through iA Private Wealth Insurance which is a trade name of PPI Management Inc. Only products and services offered through iA Private Wealth Inc. are covered by the Canadian Investor Protection Fund.
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