So you’ve set up your new bakery. Everything is going great so far. You’ve got a few customers walking in the door every day, and they’re being serviced to the best of your abilities. People are raving about the best damned sour-dough they’ve ever tasted. At the end of the day, you throw all your cash and credit/debit receipts in a drawer and tell yourself, “I’ll deal with this later. I’ve got a business to run!”. Business keeps booming, and you keep telling yourself you’ll deal with the finances later.
A week goes by . . . maybe more . . . and suddenly you realize this is growing into a big problem. Do any of the following sound familiar to you?
“How much did I sell last week?”
“Wait . . . Did I put away any money for the HST I collected?”
“Do I owe all that back to the government, or do I get to keep any? I remember reading somewhere something about tax credits . . . ”
“Uh oh, is my payroll even set up? I’m going to have some angry employees on my hands.”
Running your own small business is a difficult task. If you’re a one-man/woman show, you’ve assumed the role of CEO, CFO, COO, CIO, and every other possible position involving a three letter acronym beginning with “C”. This is not easy to do. What are your options?
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Hire people to fill those C-suite positions, and make it snappy! You’ve got plenty of cash kicking around to pay them all a $60k+ salary right? Who needs to make mortgage payments anyway?
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Continue doing it all yourself, because you’ve recently discovered how to alter the space-time continuum and now have 30 hour days.
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Outsource everything you can to concentrate on what you do best: Baking that bread, and collecting dough (what a delicious pun!)
This is where your trusted advisors at Al-Mulla CPAs come in. You don’t have the money to hire full time employees right now. Many small businesses are in this position. Also, doing it all by yourself is out of the question. You have more important things to do, and the risks are too great. No one wants to be surprised with a bill from the CRA at the end of the year because they weren’t paying their installments on time.
Accounting is a crucial part of your business, and can easily be outsourced to us at Al-Mulla CPAs. You won’t even have to leave the bakery, I promise. Thanks to our fully computerized client interface, all your documents can be uploaded to our secured servers. Call us today for a free consultation, and we’ll set you on a path to success.
Zaid Al-Mulla, MAcc, CPA, CA
zaid.almulla@almullacas.com
