We have developed SmartCashBook a web-based accounting software solution. Our accounting solution helps to make the business transactions transparent to its owners and all stakeholders. It will make your business easy and help you to make the right decision at the right time. It reflects a clear summary of the day-to-day operations that is easy to understand and manage complex situations. The accounting or bookkeeping system all over the world is not the same. There are some differences in practices and reporting systems. In our system, the Bookkeeping for Small Business Canada matches perfectly.

Why Bookkeeping for Small Business is Important?

It is not possible to end to describe the benefits of accounting. Even if you run a small business, then you must need accounting to profit calculation,  cash flow tracking, analysis, planning, tax calculation, and so on.

Tracking of Cash Flow

HiSoft Cash Flow Diagram for Bookkeeping for Small Business Canada

First of all, tracking cash flow is very important for a small business as your business depends on inflows and outflows of cash. It reflects the result of sales, credit, investments, and other sources of funds.

Preparing Yearly Budget

The success of your business depends on your business plan and your business plans work on your budgets. So you should have a yearly budget first then will design a good plan for how to drive your business.

Making Financial Analysis

To grow your business, it is important to check the financial health of your business.  The perfect analysis of financial reports, statements, and other information helps you to track the weakness and strengths of your business.

Future Planning

A full-proved plan makes a business successful. To set your goal and target you need to have proper financial data. SmartCashBook helps you to get your business transactions and all the necessary financial information that is important for making a good business plan.

Managerial Decision Making

The SmartCashBook is the best tool for bookkeeping for small business Canada. It will help you to make the right decision by analyzing your business volume.

Financial Reporting for Stakeholders

All stakeholders including investors, creditors, the public, debt providers, governments, and other government agencies have the right to know about the performance of its business firm over a specific business period. We have tried our best to provide all necessary financial reportings or bookkeeping for small businesses in Canada.

Yearly Tax Calculation

VAT, Tax, and other government duties calculations are complex jobs for an accountant. We made easy these calculation processes. You will calculate the total taxation process in an automated way if you set all the parameters in the proper way.

Profit Calculation

It is a continuous process. The system always calculates the current position of a firm. So you will take the profit-loss calculation or income-expenditure statement at any time.

Reflects the Snapshot of Business

Last of all, understanding the business position is the final goal. Once upon a time, it was so difficult to understand the business position at the moment. we had to wait till the end of the financial period. But life is now so easy and our solution makes it easy, so it is possible to check the total snapshot of your business at any time that you want.

Detail functionalities of SmartCashBook – Bookkeeping for Small Business Canada:

We have differentiated into major four modules. The main module is accounting solution, then inventory, payroll, and last of all back-office user access control system.

A. Back Office (for Security Purpose)

  • Administrative Control
  • Change User Password
  • User privilege for Module wise functionality

B. Accounting Solution

To systematically maintain the financial activities of an organization, the use of an accounting module is very much necessary. Our accounting package is capable of storing every accounting transaction and can generate various useful reports daily, monthly, or yearly. Reports of this module could be stated as below:

  • List of accounts (Control Ledger, A/C Ledger, Sub-Ledger)
  • Voucher Entry (Credit, Debit, Journal, Contra) o Receivable and Payable
  • Sales Register
  • Purchase Register o Bank Reconciliation
  • Outstanding Receivable and Payable Ledger wise / Group-wise
  • Cash Book (Details/ Summary)
  • Bank Book (Details / Summary)
  • Accounts Ledger Statement
  • Cash Flow Statement
  • Income & Expenditure Statement
  • Receipt & Payment Statement
  • Import Statement
  • Trial Balance Statement
  • Balance Sheet
  • Financial Performance Report
  • Fixed Asset Schedule

C. Other Modules and Functionality

  • Product Information: Each product to be identified with full consignment reference such as Consignment No., Brand, Item Group, Item, Size/weight etc.
  • Goods Received in Store: Consignment-wise goods received in the store are to be recorded in Stock Account showing product identity, quantity, and respective purchase value.
  • Value of Stock: Purchase value of each product to be shown at the time of entry into the store. Whenever a fresh supply is added to the existing stock, the value of the existing stock will be added to the value of the fresh stock to arrive at an average value. At the time of delivery, such an average value will be shown as the cost of sold items.
  • Sales: Predetermined sales price of each product will be shown at the time of sales as per the invoice. This will be done in the corporate office.
  • Accounts Receivable: Accounts Receivable Ledger will show the value of goods delivered to the buyer as per the Invoice and payment received in the respective account. Aging of all receivable accounts will be done periodically.
  • Periodical Statement: Generally at the end of month, quarter or any other period, Statement of Stock position to be made out wherein consignment-wise stock position at purchase value will be shown. Any shortage, breakage, damage occurred during the reporting period will be shown is such a statement.
  • Consignment wise Profitability Report: Apart from periodical stock and other reports as may be necessary, a separate consignment wise profitability report will be made out showing the trading result of each consignment.

D. Inventory

  • Product Category
  • Product Listing
  • Barcode generate
  • Project Wise
    • Work order base new project create
    • Project wise product summary
    • Additional Product Entry(get notification & set limit by management)
    • Advance payment
    • Due payment
    • Payment history (Cheque/cash/bank account)
    • Day limit
    • Profit/loss
    • Pending Payment Report
  • Search product History
  • Product Warranty
  • Damage issue
  • Replace product

E. Payroll

  • Employee Information
  • Attendance Entry
  • Leave Entry
  • Salary Scale
  • Monthly Salary Sheet
  • Festival Bonus
  • Pay Slip

Final Thought

The SmartCashBook a web-based accounting system has proved its quality by its features, calculation methods, dynamic parameter settings for Bookkeeping for Small Business Canada. We request you to check our solutions and demonstration of the system and be confident to have the best accounting software for your business. So please always try to keep looking at our social media to get the latest offers.

Frequently Asked Questions

Question#1. Is there any Access Control System in this bookkeeping software?

Yes, We have developed a dynamic access control system for multi-users. There is enough functionality to create different users group and set customized permissions on those user groups.