Accounting is a pillar of business management. It helps meet obligations, but it also helps you understand profitability, cash flow, and priorities.
Accounting and tax
Accounting records your operations. Tax rules determine how income, expenses, and taxes are treated. The two are connected but distinct.
Financial statements
The income statement, balance sheet, and cash-flow view provide a picture of performance and financial health.
Sales taxes
GST/QST requires regular tracking of taxes collected and paid. Clear records simplify filings.
Cash flow
A company can be profitable on paper and still lack cash. Cash-flow follow-up helps you anticipate needs.
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