Your outsourced accounting department without the recurring cost of salaries, benefits, overtime, office space, computers, back-up drives, and expensive accounting and project management systems.
Welcome to Cloud Bookkeeping, your one-stop solution for all your bookkeeping needs. We understand that managing your finances can be a time-consuming and stressful task, which is why we offer a cloud-based solution to make the process simple and efficient.
With our cutting-edge technology, you can access your financial data from anywhere, at any time. Our user-friendly interface makes it easy to keep track of your income, expenses, and invoices, and our advanced security measures ensure that your data is always safe and secure.
Our team of experienced bookkeepers is here to help you every step of the way. From setting up your account to preparing and filing your taxes, we are here to support you and provide you with the personalized attention you deserve.
Our cloud bookkeeping services are affordable and customizable to fit your unique needs. Whether you’re a small business owner, freelancer, or just looking for a better way to manage your personal finances, we have the tools and expertise to help.
Say goodbye to the hassle of traditional bookkeeping and join the cloud bookkeeping revolution today! With Cloud Bookkeeping, you can focus on what you do best – growing your business.
Sign up now and experience the benefits of cloud bookkeeping for yourself!
We understand that managing your finances can be a hassle, which is why we are here to help. Our team of experts is dedicated to providing you with the best billing and collections services to help you keep track of your payments and ensure that all bills are paid on time.
We believe in transparency and honesty, which is why we provide clear and concise billing statements and payment receipts. Our goal is to make sure you have a positive experience with our billing and collections services.
If you have any questions or concerns, please don’t hesitate to reach out to our friendly customer support team. We are here to help you every step of the way.
Thank you for choosing us for your billing and collections needs. We look forward to serving you.
At Kedden Business Services, we simplify the vendor payment process with our secure and efficient online vendor payment platform. Our platform streamlines the process of paying your vendors, saving you time and reducing the risk of errors.
Our platform is designed to make the vendor payment process faster, simpler and more secure. Our team of experts is available to support you every step of the way, and we are committed to providing exceptional customer service.
At Kedden Business Services,, we understand that managing payroll can be a complex and time-consuming process. That’s why we offer a range of payroll processing solutions designed to meet the needs of businesses of all sizes.
Our solutions are designed to simplify and automate the payroll process, reducing the time and resources required to manage payroll in-house. Whether you’re a small business owner or a large corporation, we have the tools and expertise to help you streamline your payroll operations.
With the Kedden you can trust that your payroll is in safe hands. Our team of experts is dedicated to providing the highest level of customer service and support, ensuring that your payroll operations run smoothly and efficiently.
Let us take care of your payroll processing so you can focus on growing your business. Contact us today to learn more about our solutions and how we can help your business.
We ensure your business stays compliant with government reporting requirements, tax obligations such filing GST, PST, WSIB, etc. and other mandatory frameworks so that you can focus on managing your business.
Cash basis bookkeeping is a method of accounting in which income and expenses are recorded when cash is exchanged. This means that income and expenses are not recorded until money is exchanged in the form of cash, checks, or credit card payments. Accrual basis bookkeeping is an accounting method in which income and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged. This means that income and expenses are recorded when invoices are issued or received, regardless of when cash is exchanged.
Accounts Payable (AP) is a term used in accounting to refer to the amount of money that a company owes to its vendors or suppliers for goods or services that have been received but not yet paid for. These unpaid bills are recorded as a liability on the company’s balance sheet and are typically due for payment within a specific period of time, which is often referred to as the payment terms.
The accounts payable process involves tracking the invoices received from vendors, verifying the accuracy of the invoices, and ensuring that payments are made in a timely and accurate manner. This process is important for maintaining good relationships with vendors and for managing the company’s cash flow, as delays or errors in payments can lead to penalties or strain on the company’s finances.
In summary, accounts payable represents the outstanding bills a company has to pay to its suppliers or vendors for goods and services that have been delivered or rendered.
Accounts receivable is a term used in accounting to describe money that a business is owed by its customers or clients for goods or services provided on credit. When a company sells products or services to a customer on credit, it creates an account receivable for the value of the sale. The company expects to receive payment for the account receivable at a later date, typically within a specified timeframe, such as 30 days, 60 days, or 90 days.
Accounts receivable are typically listed as an asset on a company’s balance sheet since they represent an amount of money owed to the company. However, there is always a risk that the customer may not pay the full amount owed or may not pay at all, which could result in the need for the company to write off the receivable as a bad debt. Companies often manage their accounts receivable by setting credit limits for customers, sending reminders and statements for unpaid balances, and taking collection actions when necessary to recover outstanding balances.
Bookkeeping and accounting are both important functions in managing financial records, but they have some key differences.
Bookkeeping is the process of recording daily financial transactions, such as sales, purchases, payments, and receipts. Bookkeepers record this information in a systematic and organized manner, using specialized software or spreadsheets, and ensure that all financial transactions are accurately recorded. Bookkeeping is often considered the first step in the accounting process and provides the basis for financial statements and reports.
Accounting, on the other hand, is a broader function that involves analyzing and interpreting financial information to make informed business decisions. Accountants use the financial data recorded by bookkeepers to prepare financial statements, such as balance sheets, income statements, and cash flow statements. They also analyze the financial data to identify trends, patterns, and anomalies, and use this information to make recommendations for improving financial performance.
In summary, bookkeeping is primarily concerned with the accurate recording of financial transactions, while accounting involves analyzing and interpreting financial data to make informed business decisions. While these functions overlap to some extent, they have distinct roles and responsibilities in managing financial records.
Choosing the right bookkeeping software for your business can be an important decision that can help streamline your financial processes and make it easier to manage your finances. Here are some factors to consider when choosing a bookkeeping software:
Business Size and Complexity: The size of your business and its complexity can influence the type of bookkeeping software you choose. For example, a small business with a simple accounting system may not require the same features as a larger business with more complex financial transactions.
Features: Look for software that offers the features you need to manage your finances. This could include things like invoicing, expense tracking, and inventory management. Make sure the software can handle your specific needs.
Ease of Use: Choose software that is easy to use and has a user-friendly interface. This will make it easier for you and your team to use the software and avoid mistakes.
Integration with Other Software: If you use other software for your business, such as a point-of-sale system or an online store, make sure the bookkeeping software you choose can integrate with these systems.
Cost: The cost of the software is an important consideration. Look for software that fits your budget and provides good value for your money.
Customer Support: Make sure the software comes with good customer support, including phone or chat support and online resources like a knowledge base or user community.
Security: Choose software that has good security measures to protect your financial data. This could include features like two-factor authentication and regular backups.
By considering these factors, you can choose a bookkeeping software that meets the specific needs of your business and helps you manage your finances more effectively.
Whether or not you need to hire a professional bookkeeper depends on several factors, including the size and complexity of your business, your own accounting knowledge and skills, and the time and resources you have available to manage your finances.
Here are some factors to consider when deciding whether to hire a professional bookkeeper:
Size and complexity of your business: If you have a small business with a simple financial structure, you may be able to manage your own books using accounting software or spreadsheets. However, if your business is larger and more complex, with multiple revenue streams, expenses, and tax obligations, it may be more beneficial to hire a professional bookkeeper to manage your finances.
Time and resources: Managing your own books can be time-consuming and may take you away from other important aspects of running your business. If you don’t have the time or resources to devote to bookkeeping, hiring a professional can be a smart investment.
Accounting knowledge and skills: If you’re not comfortable with accounting principles and financial statements, it may be difficult for you to manage your books effectively. A professional bookkeeper has the knowledge and experience to ensure your books are accurate and compliant with accounting standards.
Cost: Hiring a professional bookkeeper can be costly, but the investment can pay off in the long run by saving you time, reducing the risk of errors and penalties, and providing valuable financial insights to help you make better business decisions.
Overall, whether or not you need to hire a professional bookkeeper depends on your unique situation. It may be helpful to consult with a financial advisor or accountant to help you make the best decision for your business.
Bookkeeping can play a crucial role in helping you with budgeting and financial planning by providing you with an accurate and up-to-date picture of your financial situation. Here are a few ways in which bookkeeping can help you with budgeting and financial planning:
Tracking your income and expenses: Bookkeeping helps you track your income and expenses, making it easier to see where your money is going. By tracking your expenses, you can identify areas where you can cut back and save money, which can help you create a budget that is realistic and achievable.
Identifying financial trends: Bookkeeping allows you to identify financial trends in your business or personal finances. This information can be useful in creating a financial plan that takes into account any changes in income or expenses over time.
Preparing financial statements: Bookkeeping enables you to prepare financial statements, such as profit and loss statements, balance sheets, and cash flow statements. These statements can help you understand your financial situation, which is critical in creating a realistic budget and financial plan.
Planning for taxes: Bookkeeping can help you plan for taxes by providing you with accurate financial records that can be used to prepare tax returns. By keeping accurate records, you can minimize the risk of errors on your tax return, which can save you time and money.
Overall, bookkeeping can help you maintain a clear and accurate picture of your finances, allowing you to make informed decisions about your budget and financial planning.
Bookkeeping is the process of systematically recording and organizing financial transactions for a business. It is a crucial aspect of managing a business, and provides several benefits, including:
Financial management: Bookkeeping provides a clear and accurate picture of a company’s financial health. It allows business owners to understand their revenues, expenses, profits, and cash flow, which can help them make informed financial decisions.
Tax compliance: Accurate bookkeeping ensures that a business is in compliance with tax laws and regulations. It provides the necessary records for filing tax returns and paying taxes on time, avoiding potential penalties and fines.
Improved decision-making: Bookkeeping provides the financial data necessary to make informed business decisions. Business owners can use this data to evaluate the success of different strategies, plan for the future, and identify areas for improvement.
Business analysis: Bookkeeping can provide insights into the performance of different aspects of a business. By analyzing financial data, business owners can identify trends, opportunities for growth, and areas where costs can be reduced.
Better financial relationships: Bookkeeping helps establish trust with financial partners, such as lenders and investors, by providing clear and accurate financial records. This can help secure financing, negotiate better terms, and build stronger relationships with financial partners.
In summary, bookkeeping provides the foundation for good financial management and decision-making and is essential for the success of any business.
Payroll services refer to the process of managing employee compensation, including calculating wages, withholding taxes, and other deductions. It involves processing employee time and attendance data and ensuring that all employees are paid accurately and on time.
Payroll services can be outsourced to third-party providers, who offer a variety of services that include:
Payroll processing: This includes calculating employee pay, withholding taxes, and other deductions.
Tax filing: Payroll services also handle tax filing, which involves calculating and depositing payroll taxes on behalf of the employer.
Direct deposit: Payroll services offer the option of direct deposit, which allows employees to receive their pay directly into their bank accounts.
Employee self-service: Some payroll services also provide employees with access to their pay stubs, tax forms, and other information through an online self-service portal.
By using a payroll service, employers can save time and reduce the risk of errors in their payroll processing. It can also help ensure compliance with tax regulations and other legal requirements.
Cash flow management refers to the process of monitoring, analyzing, and optimizing the cash that flows into and out of a business or organization. It involves maintaining adequate cash reserves to cover expenses and investments, and ensuring that cash is available when needed.
Effective cash flow management involves forecasting future cash flows, tracking actual cash flows, and making adjustments as necessary to ensure that the business has enough liquidity to meet its obligations. This includes managing accounts payable and receivable, tracking inventory and capital expenditures, and making decisions about financing and investment.
Cash flow management is critical to the financial health of a business, as a lack of cash can lead to missed opportunities, missed payments, and even bankruptcy. By managing cash flow effectively, businesses can improve their financial stability, make better investment decisions, and take advantage of growth opportunities.