Accounting for Small Business (SME)
TaxBuddy Canada services change the way you plan your business’ present and future. Generate more revenue, make higher profits, and make decisions that drive success.
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Easy communication
- Customer-centered connection
- Explaining elements in detail
- Collaborative work system
Professional help
- Corporate finance expertise
- QuickBooks & XERO certified
- SAGE & FreshBooks experts
Business expansion
- Evaluation of goals & issues
- Situation analysis
- Custom solutions for business
What Does SME Business Mean?
An accountant is a key member of any small business team. They are indispensable for keeping up-to-date financial records and providing valuable financial advice and planning at every business stage.
TaxBuddy Canada is a leading provider of online accounting services for small businesses and SMEs. We know that every business is unique, and we are dedicated to providing personalized, scalable accounting services that help your company grow. Through our customized services and experienced accountants, we seek to help you make profitable decisions.
What Does SME Business Mean?
SME, or a small to mid-size enterprise, is a business with assets, a certain number of employees, and revenue that fall below a defined number. In Canada, the term SME refers to businesses with fewer than 500 employees. More specifically, a company with fewer than 100 employees is small, while a business with between 100 and 500 employees is mid-size.
Small Business Cloud Accounting
Get unprecedented flexibility in the ability to successfully manage your business’ finances with small business cloud accounting. Cloud accounting for SMEs and small businesses means you can easily access your financial statements, expense reports, and budget analyses online at any time that suits you.
Service Specific Q&A
TaxBuddy Canada offers the most efficient and scalable bookkeeping for Halifax startups and SMEs. Our automated systems integrate with your bank accounts to provide real-time visibility and ensure you never miss a GST/HST or payroll remittance deadline.
Absolutely. We represent our small business clients in all communications with the CRA. Whether it's a simple notice of assessment or a complex adjustment request, our team handles the paperwork and defense to protect your business.
What scalable accounting packages are available for small businesses?
Proper accounting plans allow companies to increase revenue, manage expenses, exercise sound financial planning, and make informed business decisions. Without well-organized books, a business is disadvantaged regarding all types of financial planning.
Bookkeeping & Reports
Comprehensive bookkeeping and financial reporting to keep your records accurate.
Annual Statements
Preparing annual statements of accounts for stakeholders and tax purposes.
Income Tax
Preparing and filing all relevant income tax documents for the business.
GST/HST
GST/HST preparation and filing to ensure compliance.
Incorporation
Incorporation services for new or restructuring businesses.
Payroll
Payroll services including deductions, T4s, and direct deposits.
Financial Advising
Expert financial advising to guide your business strategy.
Cash Flow
Managing and forecasting cash flow to prevent shortages.
HR Management
Employee and HR management support.
Tax Planning
Strategic tax planning to minimize liability.
CRA Audit Support
Liaising with Canada Revenue Agency and managing audits.
How does online accounting benefit small businesses?
Accounting for small businesses is all about helping you stay organized and giving advice so you can make informed business decisions and find innovative ways to grow your company.
Keep up-to-date records
Revenue, business costs, and payroll are tracked regularly to maintain organization.
Manage your cash flow
Be prepared for large expenditures and do not get caught off guard by unexpected expenses.
State-of-the-art software
We consult with you about the features you need in accounting software and set it up.
A stress-free year-end
A small business accountant handles all relevant tax filing and documents, taking the stress out of your hands.
Keep an eye on costs
Discovering unnecessary costs and sunken capital to make a big difference to your cash flow.
Manage AP/AR
Stay on top of your bills and invoices to never miss a payment and ensure good relationships.
Mitigate risk
Missing a single document or deadline can have disastrous consequences. We keep you on track.
Informed decisions
Make informed business decisions backed by financial data and analysis.
<h3>Should Your SME Firm Hire a Virtual Accountant?</h3><p>If your small business is spending too much time on payroll, tax preparation, and bookkeeping, it is beneficial to seek out accounting services. The hours per week you spend on your books are better spent managing your business and developing strategy instead of behind an accounting ledger!</p><p>If you find that your cash flow is not being managed smoothly and you can’t grow quickly enough to reach your goals, an accountant can help you find ways to simplify your finances and better manage your cash flow.</p>
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