Record keeping is a crucial aspect of tax compliance for individuals and businesses alike. The Canada Revenue Agency (CRA) requires individuals and businesses to keep accurate records of their income and expenses for a minimum of six years after the end of the tax year
As a small business owner, it can be intimidating to consider increasing your prices. After all, you don’t want to alienate your customers or lose business to competitors. However, there are several good reasons why you might want to consider raising your prices. Cost of
As a small business owner in Canada, it’s essential to understand your responsibilities when collecting and remitting sales tax. The goods and services tax (GST) is a federal tax that applies to the sale of most goods and services in Canada, and registered businesses must
As a small business owner, keeping track of your finances can be overwhelming and time-consuming. However, maintaining quality books is crucial for the success of your business. Here are 5 reasons why: 1. Improved financial management As a small business owner, it is crucial to
Running a small business is complex, and there isn’t always enough time to do everything correctly. If you’re letting some jobs fall through the cracks or wish to avoid doing so, it’s time to hire an accountant. Here’s how it will assist your business: 1.
Many Ecommerce business owners are afraid to mention the term “outsourcing” because of how often they hear it. It is not uncommon for outsourcing work to be stigmatized. As many people fear they will need to downsize or lose control of the company, they have
A bookkeeper for your small business is not a luxury; it’s a necessity. You must always be aware of what is happening to your business on a basic financial level. Lacking that knowledge could hinder your business’s growth and success. Read more to learn what
Do you feel like your business is too busy? Are you putting off your most important ideas? These questions could impact the financial success of your company. However, you can implement these three accounting strategies to position your company for long-term financial success. ALLOCATE YOUR
In many entrepreneurs’ eyes, success is a direct consequence of hard effort and an effective marketing strategy. But we know the true secret: it is all about numbers! A healthy cloud accounting system keeps a company afloat. It gives its owners the facts they need