Bridge City Bookkeeping: Why do I need a qualified Administrative Assistant...

Bridge City Bookkeeping: Why do I need a qualified Administrative Assistant...: Most employers think that an entry level employee is all they need for an Administrative Professional. Whether it’s a receptionist, adminis...

Why do I need a qualified Administrative Assistant?

Most employers think that an entry level employee is all they need for an Administrative Professional. Whether it’s a receptionist, administrative assistant, or other front line employee these are the people who keep the business running smoothly. Most employers don’t realize what kind of skills are critical for front line business personnel.

One of the biggest mistakes employers make is hiring someone not suited for the position. Who would you rather encounter at a store? Jane who is rude and can process your purchase in 15 seconds while throwing your new sweater in a bag and getting you on your way, or Rose who takes 30 seconds but is a genuinely friendly person who takes the extra time to fold your sweater and place it in the bag? Most people can work a cash register if shown properly. Not everyone is pleasant, friendly and takes care and pride in their job.

Can anyone answer the phones and do the filing? Anyone can “complete” the job but how many can do it right? Have you tried to juggle 4 phone calls at once, handle a courier at the door and then get that stack of filing done? These are everyday challenges faced by many administrative professionals. How many times have you tried to locate an invoice or report and couldn't find it because of filing error? It’s very frustrating and can cause unnecessary stress for everyone.

Other struggles in the front office are lost calls, incomplete telephone messages, misfiled information, vague instructions and bad communication. There are ways to manage these problems without firing the person and going through the arguous process of finding the perfect person for the job. But how do you get this done without taking YOUR time away? You may already have the perfect person, they may just need training or help to accomplish goals.

Our Customer Service Training includes the following:

• Telephone and Electronic Mail Etiquette
• Mail Distribution
• The Importance of A Professional Image
• Message Taking
• Document Control
• Professional Presentation of The Company
• Customer Service For Front-End Professionals
• Client Relations
• Vendor Etiquette
• Goal Setting
• Workload Management

Call us today to arrange for a session in your office!

Bridge City Bookkeeping
www.bridgecitybookkeeping.ca

My Year End is Here! What Do I Need To Do?!

At Bridge City Bookkeeping we believe that helping people is our number one priority!

It’s important that even small businesses should invest in a registered, licensed auditor or accounting firm to complete year-end financial statements. If you don’t have one, or unsure about which firm to choose; ask around!  Who are other trades using?  Ask family, friends or mentors who they use.  It's not a secret and it's one the most important parts of running your business.  A smart business owner keeps themselves in the loop when it comes to their money and financial position. 

Items that you will need for your year-end preparation include:

-If you are using a software package save a copy of your accounting file note the software package used along with the specific version and password if applicable

-a paper copy of your general ledger

-completed bank reconciliations

-invoices issued to clients

-cheque stubs

-supporting documentation for business related expenses

-bank statements including cancelled cheques

-deposit books for the year plus the month after year end

-A/R listing -Notes as to the portion that is likely not collectible (by customer).

-A/P listing – supplier amounts payable

-New asset purchases - Supporting documentation including any leasing arrangements: vehicles, equipment, furniture, computer, leasehold improvements etc.

-New financing arrangements - Mortgage statements and loan agreements.

-Personal line of credit statements used for business.

-GST returns as filed and any notices received

-PST returns as filed and any notices received

-Canada Revenue Agency (Federal Corporation) tax statements, notices and assessments received during the year

-Saskatchewan Finance (Provincial Corporation) tax statements, notices and assessments received during the year

-Employee source deductions – all forms for remittances made during the fiscal year as well as the month following the year-end date.

-Investment statements - certificates for short term deposits, trading summaries and account statements if applicable

-Home office expenses - Provide on an annual basis the following: rent paid or mortgage statement, utilities, home insurance, property taxes, repairs and maintenance expenses. (if home office costs apply) Total area of house and area used for business. List of significant once a year cost items such as insurance, maintenance contracts etc. and the annual renewal dates and invoices. List amounts of any deposits such as last months’ rent for premises.

-Details of loans received during the year.

-Details of shareholder loan and salary/draw payments or loans for the year.

-If you do not do your own bookkeeping, you should choose a company that will work with your auditing firm and help you complete your year-end. And remember! It’s ok for you to ask questions! It’s your business and you are responsible for the maintenance of your financial records.

Tips to make year-end easier and stress free:

Don’t wait until the last minute to get everything together. Monthly organizing can save you a lot of time and money.

Make copies of asset invoices and keep them in a binder. Make tabs for each year so any new assets can be verified quickly.

Keep it simple! Keep a copy of your general ledger, audited journal entries, financial statements and tax returns in a binder labelled with the fiscal year.

Hopefully these tips will help make your year end easier! 

And remember, if you need help Bridge City Bookkeeping has a Year End Audit Preparation section of our business and we are here to help you!  We can be reached through our website at www.bridgecitybookkeeping.ca