Bookkeeping is the process of tracking and recording financial transactions. This includes recording income and expenses, reconciling bank accounts, invoicing customers, and more. It is also important to keep accurate and up-to-date financial records to ensure compliance with Canadian tax laws.
A bookkeeper is a person responsible for accounting in a company or organization. Unfortunately, keeping track of your business finances can be an uphill battle when working as a sole proprietor. Luckily, there are several easy steps you can take right now to start maintaining better financial records.