Testimonials

Mark Peros

“I contacted Williamson Accounting because they were recommended for their expertise in bookkeeping and accounting services. They resolved issues that I had with past GST/HST filing and as a result we obtained a sizeable refund! The things I appreciated were their knowledge and experience; professionalism and their ability to keep us posted throughout the process. I would highly recommend Williamson Accounting to anyone in the market ranging from small business bookkeeping to complex tax audit issues with the Canada Revenue Agency.”


Mark Peros, President, Peros Inc. and CMFR Canada

 

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Williamson Accounting Inc. helping your small business to reduce taxes and simplify accounting in the Greater Toronto Area (GTA) and across Canada.

For a free initial conversation about your business, call (416) 444-8747 or Contact us.

Manage and Take Control of Your Business with Technology

Many owners and managers of small or medium sized businesses have acquired accounting software to help them ease the burden and monotony of bookkeeping tasks, yet they are overlooking a lot of useful and valuable features of the software. This can include automated financial reporting, financial analysis, and data sharing. These functions are valuable in aiding users and assessing the profitability of their company.

The main value and benefit from computerized accounting software, such as QuickBooks and other similar programs, is that they allow you to manage and handle your business quickly, easily, affordably and efficiently-if used appropriately- and gives a competitive advantage.

This can be seen by the reports that are generated by the programs once data is entered. It allows for analysis in a number of ways. For example, you can easily forecast sales trends by product line, region, demographics, or all three.

In the past, these and other tasks were expensive for many small business owners, but with the help of these types of software, it is now a small cost to gain export reporting on a regular basis.

Some features may vary by program, but they ultimately allow users to generate financial statements and reports in a matter of minutes. As well, they allow all data to be exported to word processors, spreadsheets, tax preparation software, etc.

There are many powerful functions that can help your business control costs, increase revenue, and boost net income. For example, you can use the software to:

  • Track sales of individual products to determine whether they should be eliminated from a product line
  • Analyze factors that affect revenue and gross margin, such as employee productivity or a product's contribution to the bottom line
  • Forecast cash flow and inventory requirements, track real time inventory and start JIT ordering, lowering financing and overhead costs
  • Project sales by region and demographics that provide insight into how to boost sales and gross profit on sales
  • Develop detailed budgets by department or project
  • Generate financial statements and compare actual costs, that can help identify problem areas and improve forecasting abilities
  • Assess performance trends, like profits, sales, borrowing, liquidity and assets, and also compare data to other companies in the same industry

    In addition to all these features, accounting software allows you to automatically create invoices, generate collection letters, and sync contacts with programs like Microsoft Outlook. All the information entered can help your accountant make tax preparation much easier and headache free for both parties.

Some choices for accounting software in Canada that have multi-user capabilities are:

  • Quickbooks- a full featured accounting and payroll program available in four editions that include a variety of helpful planning tools that help you manage your finances. It also accepts & transacts in all major currencies.
  • Account Edge (formerly MYOB)-which includes over 200 customizable financial  reports, time billing module for service businesses, and a quick feature that gives one click access to MS Word and Excel
  • Simple Accounting- includes standard inventory, time and billing, and job costing functions. It allows you to switch between English and French on-the-fly.

With a minimal investment in computer software, and a little bit of time, you can make your life a stress-free approach to your record keeping. Make sure to consult with your accountant for advice on choosing the right software and training to make the job easier.

Visit Us

We are located near Sheppard Ave. and the 401/ 404 Hwy corridor at 203- 211 Consumer Road 
Toronto, ON M2J 4G8
Tel: 416-444-8747
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Quotable

Jeffery L. Yablon

"Today is the first day of the rest of your taxable year."

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