postheadericon Live Blog

C2 Online Blog 2


Expect expert advice.

Does your bookkeeper have...? Lisa Patrick

Ensuring that your bookkeeper is qualified to complete the tasks required by your accountant to file the year end is very important. 

ASK YOURSELF how much time and money is spent trying to decide what they need in order to complete your bookkeeping for year end?

Finding a bookkeeper that is able to communicate to you what they need is also part of their job description.  Do they have all the communication tools and checklists to ensure that when they receive the bookkeeping from you that they have all the paperwork necessary to complete all their tasks.  Remember every time they call and request paperwork from you that should have been communicated to you initially when you provided them your box, costs you money. 

Ask yourself, if they don't know what they need or how to communicate to you; how good of a job are they doing?  It is not just about the data entry it's about truly understanding what you the client requires and communicating those needs to you.

Lisa Patrick

Factors on Deciding who is Your Bookkeeper! Lisa Patrick


1. who to hire for a bookkeeper?
2. is your bookkeeper doing the job right?
3. is your bookkeeper stealing from you?
7 DO rules:
1.         do request a security report from some regulatory authority, the police?
2.         do have a routine day in the month that you actually sign the cheques to pay the people you owe.
3.         do randomly with out warning, ask from your bookkeeper for the copy of the most current bank statement with all the cheques attached with the print out of the bank ledger and the bank reconciliation report.
4.         do look at the cheques attached to determine if the cheques are logical for your company.
5.         do bring the random information you requested to your tax accountant.. at that time a quick cross ticking of the information should tell the accountant if the cheques appear the same on the reports
6.       do request financial reports be provided by your bookkeeper at a random time and ask your tax accountant to determine the logic on the reports and if possible compared to the previous year.
7.         do commit some time every year that you learn one section of your financial statements either from your tax accountant or take a FREE government course. (account payable, account receivable, assets, statement reconciliation, loans & liabilities, equity or shares, balance sheet, operating expenses and capital expenses, income, etc) <>  (go on line and search what courses they have close to your area.
3 DO NOT rules:
1.         do not have the same person always preparing the deposit information from the cash drawer as the same one always depositing to the bank.
2.         do not allow your bookkeeper signing authority on your bank accounts.
3.         do not have the same person issuing your cheques and posting to the bookkeeping as the person who matches and balances the information to the statement accounts.

Darlene Lafond
Master Tax Accountant

CMS Website by WebmontonMedia.