
Small Business Accounting Basics
Submitted by Glenn Middleton, CMA

Small Business Accounting
So you've recently started your own business or perhaps been running one for some time. Whatever the case accounting for your business is vital. Why? There are a number of critical issues that must be maintained if your business is to prosper: - Government tax compliance: Income tax, commodity tax, Workers Safety Insurance, Health tax, etc.
- Payroll compliance.
- Cash management
- Accounts Receivable
- Accounts Payable
- Banking
- Profitability management. You do measure product / service margins don't you?
- Inventory control, management.
- Shareholders Account. Are you aware of the potential tax consequences?
- Operations reporting & management. Failure to comply with government reporting & remittance requirements can add significantly to your costs as penalties & interest will be incurred. If your accounting is done right then compliance becomes a simple uncomplicated issue.
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Middleton Controllership Services Ltd. provides the following services: Accounting, Bookkeeping, Personal Tax, T1, T4, RRSP Corporate Tax Controller, CFO Systems GST PST commodity taxes QuickBooks Simply Financial reporting financial statements year end, month end payroll, WSIB, EHT business planning, budgeting cash flow software installation T2 Excel Cost Accounting procedures manufacturing business start up tax returns source deductions. MCS services the following areas: Toronto GTA Scarborough, Markham, Vaughn, Durham, Pickering, Ajax, Oshawa, Whitby, Pell, Mississauga, Brampton, York, Concorde, Etobicoke, North York. We also provide the following services Accounting, Bookkeeping, Personal Tax, Corporate Tax, financial statements, year end, month end, QuickBooks, Simply, controller, business planning, Controller, CFO, cash flow, manufacturing, cash flow, Excel, Cost Accounting, RRSP, Systems, GST, PST
Glenn Middleton, CMA Middleton Controllership Services Ltd. 8 Plover Road, Scarborough, Ontario M1G 3L9 T: 416 431-6221 416 431-6221 F: 416 431-0360 E: glenn.middleton@sympatico.ca

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