Whether you’re a proprietorship, partnership or incorporated small business we’re here to help you build your dreams.
Small Businesses Accounting
Sole Propietors & Corporations
Small businesses can operate as a sole proprietorship, partnership or as an incorporated company (check out our article on the pros and cons of sole proprietorship vs incorporation).
Small business accounting involves the process of tracking, recording and analyzing the financial transactions of your business. It translates numbers into a comprehensible statement about the profitability of your business.
Accounting may be a more tedious aspect of running a business, but it is also necessary to avoid cash flow snafus and piles of paperwork.
It is a massive topic, but for small businesses, it essentially boils down to:
- Bookkeeping (recording financial transactions)
- Creating financial reports
- Filing tax returns
Accounting helps you gauge the health and value of the company. However, a good accountant helps you decipher these reports and make better decisions about short- and long-term success so you can reach your goals.
Many accounting firms state they deal with small business, however their idea of ‘small business’ is annual gross revenues between $1M – $10M and accounting fees for a basic notice to reader start at $2,500 a year without any consulting or other services included. At Long-Haggerty Chartered Professional Accountant, we focus on the true small businesses with gross revenues on a MUCH smaller scale and help them grow. Our rates are much more affordable as being a small business ourselves, we have a much lower overhead with our company structure so we can share the savings with you.
What we love about small business is the extra love and attention owners give to the products and services they sell and to the customers or clients who they serve: the type of feeling you can’t get with a larger organization or company. Just like you provide tailoring to meet the needs of your market, so do we. We take extra time and care with our clients to ensure our services are meeting your needs.
Small businesses in the Okanagan Valley are the keystone of our economy. There are small businesses in almost every industry in the area, so we do our best to focus on the accounting and tax rules for some of the key areas such as agriculture, viticulture, trades, retail, professional services and entertainment. Our staff undergo continuous professional development to ensure we are on top of any industry changes so we can continue to provide the best quality services to our clients.
280 Main Street, Penticton, BC, V2A 5B2
Hours of Operation
Monday - Friday
Open Door: 9am - 2pm
By Appointment: 2pm - 5pm
By Appointment: 9am - 2pm
Closed Sundays and All STAT Holidays