From Startup to Success:
Bookkeeping Basics Every Business Needs

Strong financial management starts with understanding your bookkeeping! 

Sponsored by the Orillia CDC and free to local businesses

In this practical webinar, you’ll learn the essential concepts and tools every business owner needs to track and organize their finances effectively.

Topics include:

• What is bookkeeping and how does it work?
  Understand the mechanics of bookkeeping, including how the Chart of Accounts organizes and reports on your business activities.
• Sample Chart of Accounts:
  Review a sample set-up for an unincorporated company based on the T2125 form.
• Sample Entries Explained:
  See how typical transactions (sales, expenses, assets, liabilities) affect your accounts.
• Understanding Financial Statements:
  Learn what a Balance Sheet and Profit & Loss Statement are, and what valuable insights they provide about your business.
• Year-End Basics:
  Find out what happens when your books close at year-end and how to prepare.
• Should You Do Your Own Books?
  Discuss the pros, cons, and considerations for DIY bookkeeping versus outsourcing.
• Small Business Accounting Apps:
  Get an overview of popular tools like QuickBooks, Xero, Sage, Wave, Zoho, and FreshBooks to help streamline your financial tracking.

Whether you’re just getting started or looking for a refresher, this session will give you a strong foundation to better understand and manage your business finances.