woman speaking on the phone

How to Deal with Uncollectable Accounts

It has been a rough year with Covid-19 being the center of attention for not only our personal lives but for small businesses struggling to get back on their feet. Sometimes these unexpected events cause … Read more

business planning

How Do You Know When To Borrow Money For Your Business?

Following your business plan helps you make decisions about borrowing. You know, that document you created when you first started your business? You never did one, you say? I don’t know how many times I … Read more

Why Would CRA Ever Audit Me?

I am often asked the question: what reason would CRA ever have to audit me? This is my opinion but it could vary in many ways: If you owe them money. Did you forget to pay … Read more

How to Charge Sales Tax for Different Provinces in Canada

Are you a business that does business with other provinces in Canada? A client brought it to my attention that they were uncertain what they should be charging for sales tax. The bottom line is … Read more

bookkeepers and accountants

Bookkeepers and Accountants Are Not the Same

Your successful small business needs both a bookkeeper and an accountant. And there’s a reason why they won’t be the same person. While some skilled bookkeepers and accountants may, in fact, be capable of doing … Read more

Are You Unknowingly Part Of The Underground Economy?

“Can’t I just pay my employees with cash?” We still hear some version of this question now and then. Moonlighting or “working under the table” is the basis for the underground economy in Canada. According … Read more

Beyond Data Entry

It’s good you’ve invested in having someone (an employee or a contractor) dedicated to doing your routine entry of invoices and vendor payments. You’re too important to your business to do that stuff yourself. Now … Read more

Should I Buy or Should I Lease My Next Vehicle?

As a business owner, I have debated this question many times over the years. I have both leased and purchased, and I like to get a new vehicle every 3 or 4 years… whether I … Read more

Does Your Bookkeeper Provide these Essential Services to You?

Whether you choose to work with us or to go elsewhere, these are qualities to look for when seeking a bookkeeper. (Of course, we’d rather you work with us!) Communication A good bookkeeper keeps you … Read more

Don’t Mix Business with Personal

Here are 3 reasons why keeping your personal and business finances separate will also help keep you and your business healthy. Finding, tracking, posting, filing, and reconciling your bank, credit card, and PayPal accounts – … Read more

5 Resolutions for Your Bookkeeping New Year

We all make promises to ourselves that in the New Year we will do things better. Here are 5 worthwhile activities that will make your accounting processes easier for yourself and your bookkeeper. These are … Read more

It’s Risky to Make Decisions without Financial Statements

A common question I’m often asked is, “Why do I need financial statements?” The answer impacts all types of businesses – in an office tower or in a basement. Financial statements consist of a Balance … Read more