When You Can See the Numbers, You Have Control
A guest post from Linda Daley, a happy client… For a few years, I struggled with keeping up with my small business bookkeeping and accounting. It’s a mess I got myself into very easily and … Read more
One Big Reason to Ensure Your Financials are Up To Date
Many business owners have told me about their challenges with keeping up with their bookkeeping, about constantly being “behind”. No matter if you are a sole proprietor or own a corporation, if you don’t have … Read more
15 Tips to Make Your Bookkeeping Paperwork Easier To Manage
Whether you do some, all or none of your own bookkeeping tasks, accuracy depends on maintaining detailed records. Misfiled and lost transaction records can cost you money because (a) legitimate expenses incurred may not be … Read more
More Money In Your Pocket And Better Decisions
As sole proprietors, we tend to mix business and personal expenses together on the same accounts, bank or credit card. I cannot stress how important it is to keep them separate! Open a bank account, take … Read more
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
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
File HST Returns Even for Zero Sales
After you register for an HST number when setting up your business, you are required by law to send in your remittances even if you have zero sales. When you start a business, unless you … Read more
Just Because You Know How to Do Your Own Bookkeeping…
Are you still insisting that you do your own bookkeeping because you know how? It is imperative that you maintain a current set of books. Canada Revenue Agency can audit you at any time with … Read more
Did You Know Your Receipts are Disappearing?
As a business owner, you are required by the Canada Revenue Agency to provide records of all the transactions of your business for 7 years. They must be kept in a secure and accessible place. … Read more