Good question! Why DO you need an Accountant in Nanaimo, BC? Well, once upon a time, there were no computers to keep records on. Folks saved all their invoices and statements in a box and sent them to the accountant to enter into ledgers by hand. From these ledgers, the accountants prepared financial statements. The entering of the information into ledgers was called book keeping. Now, computers do all that. But accountants do more than bookkeeping. Using a computer to do the bookkeeping helps, but that is only the beginning of the work.
The books must be put into order.
An accountant makes sure that all the expenses have been classified correctly for tax purposes. A good accountant has to have the knowledge of which expenses are allowed and which are not. You see; the profit that is taxable and the profit that your accounts show are different. If you declare the wrong kind of profit to the taxman, you can get into trouble with the CRA and get hit with a heavy tax penalty.
Sometimes you need a consultant.
An accountant can help their clients with managing their business by giving appropriate advice. Your accountant can give your staff training on the appropriate accounting software for your business. This helps reduce the amount of time expended on bookkeeping.
Help in making smarter decisions.
While it’s true that computers have simplified the accountants work to a certain extent, there are a lot of things that he can help you with. A highly qualified accountant can help you with managing every aspect of your business from raising funds to increasing your customer base. Large companies have their own accounting departments run by someone called the Chief Financial Officer (CFO) who watches the organizations finances like a hawk. Your company might not be in the position to have a CFO, but you can get a lot of the CFO bang by having a good accountant at your disposal.
We work with the best!
At M Graham & Associates Inc, we are associated with top flight accountants who bring the expertise needed by your unique situation.