Bookkeeping For Canadians For Dummies

Expert tips and strategies to help you manage your finances and grow your business! If you're a small business owner who manages your own finances, then this updated and expanded second edition of Bookkeeping For Canadians For Dummies is for you! This friendly guide covers all of the details of bookkeeping in Canada, and will help you get up and running with the knowledge and skills you need to keep your books balanced, your finances in order, and the CRA happy. From tracking transactions and keeping ledgers to producing balance sheets and year-end reports, Bookkeeping For Canadians For Dummies will help you master all the important terms, procedures, forms, and processes more quickly and easily than you ever thought possible. Start with the basics get familiar with the accounting cycle, learn about double-entry bookkeeping, figure out how to differentiate between debits and credits, and get to know other bookkeeping terms and processes Set up your bookkeeping journals simplify everything with computer software while keeping track of your incoming and outgoing cash and posting journal transactions into your General Ledger Safeguard your business put controls on your cash and create an electronic filing system Stay on top of your inventory determine which cost formula works best for you and pay your bills accurately and on time Manage employee payroll collect EI, CPP/QPP, and federal and provincial income taxes, and explore benefit options Get ready for year-end learn to verify your business's cash, depreciate assets, and adjust the books for revenues and expenses Open the book and find: The top bookkeeping software packages and how to make them work for you Screenshots and step-by-step instructions on using QuickBooks® for your records What records to keep and for how long Everything you need to know about collecting GST/HST The different types of interest calculations What you can and can't depreciate The difference between tax-exempt and taxable benefits A glossary of bookkeeping terms Learn to: Keep track of your business transactions Use software for record-keeping and reporting Prepare and use financial statements Follow Canadian tax rules