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As a business owner, bookkeeping is an essential part of managing your finances. Accurate bookkeeping ensures that you have a clear understanding of your financial position, which is crucial for making informed decisions. In this blog post, we will explore a relevant bookkeeping topic that can help you improve your financial management: Cash vs....
Read MoreDecember is a critical month for every business on a lot of levels, but definitely from a bookkeeping aspect. Many small business owners struggle with finding the time for their business during the holiday season. However, putting your bookkeeping on the backburner in December is a huge mistake. There is too much to be done before year end for...
Read MoreMore and more business owners are turning to cloud accounting software to manage their business’s finances. If your haven’t yet tried it, here are 10 ways online accounting software can help your business. Don’t waste time posting and chasing invoices. Cloud accounting software automatically generates invoices— as well as reminders — at regular int...
Read MoreMy Account for Individuals is a great place to start to check your info. Logging into your account, you should be able to find online versions of your T4 slips. You’ll also be able to check carry forward balances like tuition credits or capital losses, as well as your RRSP contribution limits. While you’re there, you can also sign up for direct dep...
Read MoreIf you own an incorporated business in Canada, you have the option to pay yourself through dividends, a salary, or a combination of both. In this article we will look at the difference between theses methods of payment and the main advantages and disadvantages associated with each. We will also see some common scenarios for when a business owner ma...
Read MoreIt is that time of year again…tax season! If you are like most people, doing taxes is something you view as a dreaded task or you procrastinate doing. Do not fear, we have a helpful Tax Season Checklist to make doing your taxes easier to organize. This list will outline all the things we could need from you in order to prepare you income tax return...
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