Ostroff, Fair and Company
*Ostroff, Fair and Company>>>Canada Taxes

Bookkeeping samples?



this is for income tax im a small buisiness and need some guidance spreadsheets, expences, sub contracting, how do i make it all look professional when im not?

use Quickbooks software
There are many accounting softwares desiged for smallbusinesses such as simply accounting and quick books.These are relatively easy to use by non-accountants or bookkeepers.
If you do not wish to use a software ,you can use a spread sheet and prepare statements similar to the following simple example:

Company Name
Income Statement
For the Year ended on December 31,2005

Revenue
Less:cost of revenue

Gross Margin

G&A Expenses

Net income (loss)



Company name
Balance Sheet
As of December 31,2005

Assets

Current Assets:
Cash & Banks
Accounts receivables
Inventory
Prepaid expenses

total current assets

Fixed assets,net of depreciation


Total Assets


Liabilities and Owner's Equity

Current Liabilities:
Due to banks
Accounts payable
Accrued expenses

Total current liabilities

Long terms loans


Owners Equity:
Capital
Retained earnings (loss)

Total equity

Total liabilities and owners
Equity


Needless to say that total assets should equal total liabilities and owners equity.It it does not then you have made a mistake and should review your accounting entries in details.
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