Transforming tax season for your business

January 14, 2021

Transforming tax season for your business

Synopsis
2 Minute Read

It’s the time of year many business owners dread: tax season. As business advisors and accountants, we know it’s a stressful period. Maybe you thought 2020 would be the year you stayed organized and on top of the paperwork so tax season wasn’t such an uphill effort. And then 2020 happened. Now, you’re under more pressure to run your business and finding time to sort out your taxes is a tall order.

It’s the time of year many business owners dread: tax season. As business advisors and accountants, we know it’s a stressful period. Maybe you thought 2020 would be the year you stayed organized and on top of the paperwork so tax season wasn’t such an uphill effort. And then 2020 happened. Now, you’re under more pressure to run your business and finding time to sort out your taxes is a tall order. 

We have good news: there’s a better way to manage your finances and make tax season a breeze.

Ease is MNP’s cloud accounting and bookkeeping solution. By using automation and a range of apps, ease helps business owners like you manage their finances faster than ever and delivers critical data to help you operate your business. Tax season should be straightforward and uneventful. Some may go as far to say that it should be boring. Let’s make it happen.

Here are some ways ease makes tax time simple.

Receipt management made simple

How do you currently manage your receipts? Do you store them in a file folder? A drawer in your office? Maybe in a shoebox? These are all options we’ve seen. But with ease, receipt management doesn’t have to be so old school and paper based.

Ease can use apps like ReceiptBank to help. ReceiptBank allows you to take a photo of a receipt and it imports the numbers from paper directly into your accounting software. With a few taps on your phone screen, you’re well on your way to easy receipt management.

Integrated bank feeds

Data entry is a major obstacle to business owners staying on top of their finances. Taking bank statements or credit card transactions and typing them into a spreadsheet is time-consuming and holds you back.

Ease solves that problem by integrating your bank feeds and credit card directly into the platform. That is an immediate and significant time saving, but it gets better. Integration means you can understand your business finances better and faster, so you can make decisions with data instead of your gut. We turn data entry into data flow.

No more tax surprises

You’ve either experienced it yourself or you’ve heard it from someone else and worry it will happen to you: upon completion of your taxes, you realize you need to cut a cheque to pay back taxes, and the turnaround time on the payment is short. This is a good problem to have, but it’s best to know what you’ll owe well ahead of the payment due date.

With ease, you can eliminate this concern. Our platform allows you to work on your taxes throughout the year and understand what you may owe months ahead of when your payment would be due. This improves your ability to manage cash flow and provides you with peace of mind.

A simpler way to navigate tax season is out there. To get started on your solution, visit www.mnp.ca/ease.

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