Call Us: 905 268 0150 - Mail: amadan@madanca.com

Accounting and bookkeeping requires a high degree of organization and time management. Luckily as professional and experienced accountants we can assist you with your bookkeeping needs. Whether it is guidance on efficient and easy software, step by step technical training services, or our professional bookkeeper, we do provide it all. Accurate, timely and of high quality, our bookkeeping Toronto, will not take a toll on your bank account. 

Comments  

 
# Liza 2014-09-18 16:23
Hello,

I’m a small business owner debating between which accounting software to purchase. Can you please provide some guidance?

Appreciate it!

- Liza
 
 
# Allan Madan and Team 2014-09-18 16:23
Hi Liza,

In deciding on an accounting software, you should consider your business’s accounting requirements. If your operations are fairly straight forward and does not require any complex accounting, free softwares such as wave accounting and freshbooks. These softwares provide basic accounting and bookkeeping tools that will suffice for many small business.

However, if your business is faced with uncommon accounting transactions you should look into more comprehensive softwares such as quickbooks and sage 50.

Regards,
Madan CA Team
 
 
# Sersi 2014-10-02 15:28
Hi, Just wondering what are the benefits of using tax depreciation methods vs. accounting depreciation methods to amortize business assets?
 
 
# Allan Madan and Team 2014-10-02 15:29
Hi Sersi,

For accounting purposes, you can choose to use accounting or tax depreciation. However, for tax purposes you must us Capital Cost Allowance (CCA) rates for depreciation. It may be more beneficial for small businesses to use tax depreciation as using different depreciation methods will only increase bookkeeping work.

Larger businesses may benefit from different accounting depreciations to better reflect the useful life of the assets.
 

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