Pickering Best accountant

Are you looking for the best accountant in the Town of Pickering? This is the website to find the accountants.

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The accountant listed on this page were chosen because they offer the best accountant service in Pickering. 

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Here are the best accountants in Pickering

Perfect Bookkeepers & Tax Consultants

Accountant in Pickering, Ontario
Address: 1211 Kingston Rd Suite 13B, Pickering, ON L1V 6M5
Phone: (905) 621-1409
Appointments: perfectbookkeeper.ca

General information about Pickering accountant?

For Your information

This information was provided to help you learn more about providers fields of expertise.

Who are accountant?

Tax Accountants use their skills and knowledge of tax legislation and regulations to provide assistance to their clients or employers in paying taxes in the most efficient and beneficial way possible, always complying with government laws and procedures. They provide advice to companies and clients on how to minimize the impact that paying taxes takes on the company.

There are two types of Tax Accountants, Corporate and Personal. Corporate Tax Accountants work for companies, whether as part of an Accounting Firm or as a member of the Accounting department, to ensure that the company doesn’t pay more taxes than the minimum necessary according to law and regulations. Personal Tax Accountants, on the other hand, work for individual clients, usually with an Accounting firm, providing advice and assistance with tax payments.

Most Tax Accountants work for specialized Accounting Firms, as part of the staff of a company, or for the provincial or national government. Firms usually work with small or medium-sized businesses, as well as for individuals looking for assistance with their taxes. Some Tax Accountants prefer to be self-employed and work independently from any firm or company, offering their services to individual clients. https://neuvoo.ca/neuvooPedia/en/tax-accountant/

Pickering accountant overview

What’s the difference between accounting and bookkeeping?

These two roles work in conjunction, think of them as your inputs (bookkeeping) and outputs (accounting). In some situations, the accountant may provide services for both. 

Bookkeeper

The primary role of a bookkeeper is to accurately and consistently record business transactions. They deal with the operational day to day of your business financials. To fulfill the role of a bookkeeper, responsibilities may include:

  • Reconciling accounts at the end of each month or week
  • Managing and tracking bills, payroll, and invoices
  • Tracking sales taxes and filing returns 
  • Handling transactions between suppliers and customers
  • Establishing a financial system
  • Budgeting and cash flow monitoring 
  • Managing accounts payables and receivables 
  • Determining asset depreciation

The complexity of these responsibilities depends on the business size, industry, and the quantity and complexity of the transactions.

Accounting

The accountant utilizes the information provided by the bookkeeper to give financial business insights (reports, business financial planning, etc). In most cases, accountants take a strategic role in maximizing your company’s financial efficiency. In order to successfully execute their job, a financial system will be put in place to ensure everything is running smoothly. 

The responsibilities include:

  • Analyze all the inputs of the book keeper (analyze financial data)
  • Preparing and analyzing financial statements
  • Preparing income tax returns
  • Tax planning
  • Preparing adjusting entries for future expenses
  • Forecasting business cash flow
  • Finding ways to minimize your tax owed through credits and deductions
  • Staying up to date with best practices and regulations

Most importantly, the accountant will provide insight and advise the business owner on where to go forward for their business finances (in order to reduce taxes and align with the business goals). 

When should a small business seek financial help?

Not every small business needs financial help. If you are in a position to grow or cut costs, then an accountant’s expertise may be right for you. It comes down to seeing if the bookkeeper or accountant is a worthwhile investment – whether you are in a position to gain from it. Do you find that you are spending too much time on tracking expenses instead of growth for the business? Are you having trouble making financial decisions? These are legitimate reasons to hire an accountant! 


How do I know if my accountant is doing their job correctly?

Some “obvious” warning signs are actually quite hard to spot, especially to someone who is not new to the world of accounting. Here’s a checklist of signs (both good and bad) to look out for: https://www.olympiabenefits.com/blog/how-much-does-an-accountant-cost-for-a-small-business

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