renting apartment

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

Bookkeeping Paperwork

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

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

Are You in Danger of Missing Your Business Income Tax Deadline?

Do you know when you are required to file income tax returns for your business with the Canada Revenue Agency (CRA)? The following is a guideline to use to make sure you file in time … Read more