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In an era where climate change and environmental sustainability are at the forefront of global concerns, businesses, regardless of their size, play a crucial role in contributing towards a more sustainable future. Small and medium-sized enterprises (SMEs) in Canada have a unique opportunity to lead by example, showing that economic activities can be both profitable …

Sustainable Business Practices: Balancing Profit and Environmental Responsibility Read More »

As we step into 2024, Canadian small and medium-sized businesses (SMBs) face a landscape of evolving tax regulations and opportunities. Staying ahead of these changes is not just about compliance; it’s about leveraging tax rules to your company’s advantage. Here, we break down the essential tax updates for 2024, offering actionable advice to ensure your …

Navigating Canadian Tax Changes: What SMBs Need to Know for 2024 Read More »

Ensuring the financial health of your small or medium-sized business (SMB) is essential for long-term success and sustainability. While challenges may arise, implementing effective strategies can significantly improve your company’s financial well-being. In this guide, we’ll explore practical tips and strategies to enhance your SMB’s financial health, empowering you to navigate uncertain times with confidence. …

How to Improve Your SMB’s Financial Health: Practical Tips and Strategies Read More »

Scaling a business is an exciting journey for any entrepreneur. It signifies growth, success, and the opportunity to reach new heights. However, scaling also introduces a new level of complexity in financial management, making bookkeeping more crucial than ever. In this post, we’ll dive into why proper bookkeeping practices are essential for successfully scaling a …

The Role of Bookkeeping in Successful Business Scaling Read More »

In the ever-evolving landscape of Canadian business, small and medium-sized businesses (SMBs) face unique challenges and opportunities. A crucial aspect of maintaining the health and sustainability of your business is effective cash flow management. Cash flow, essentially, is the lifeblood of your business, influencing your ability to operate, invest, and grow. This blog post will …

How to Maximize Your Business Cash Flow in Canada: Essential Strategies for SMBs Read More »

In today’s dynamic business environment, small and medium-sized enterprises (SMEs) face numerous financial challenges and opportunities. One of the most powerful tools at their disposal is effective budgeting. A well-structured budget can provide a roadmap for business growth, financial stability, and long-term success. In this post, we’ll explore practical steps to create a budget that …

Budgeting for Success: Planning Your SME’s Financial Future Read More »

Incorporating a business in Canada is a significant decision that carries with it a host of financial implications, benefits, and responsibilities. This transition from a sole proprietorship or partnership to a corporation can impact everything from your tax rates to your personal liability. Understanding these changes is crucial for small and medium-sized business owners considering …

Decoding Incorporation: Financial Implications for Canadian SMBs Read More »

Welcome to our blog where we delve into the crucial aspect of expense tracking for Canadian small and medium-sized businesses. As a business owner, managing your expenses efficiently is not just a good practice, it’s a vital part of maintaining a healthy financial landscape. This guide will provide you with practical tips on tracking and …

A Guide to Expense Tracking for Canadian Small Business Owners Read More »

As businesses around the world increasingly recognize the importance of sustainability, Canadian small and medium enterprises (SMEs) are uniquely positioned to lead the charge in eco-friendly practices. A key area of this transformation is in the realm of bookkeeping. Transitioning from traditional, paper-intensive methods to digital bookkeeping not only aligns with environmental goals but also …

Eco-friendly Bookkeeping: Moving Towards a Paperless Office Read More »

Optimizing Cash Flow: Mastering Accounts Receivable for Canadian Small Businesses Mastering Accounts Receivable (AR) is crucial for the financial health and success of Canadian small businesses. Effective AR management goes beyond just collecting payments; it’s about maintaining a healthy cash flow, building strong client relationships, and fostering sustainable growth. Navigating AR can be challenging, with …

Mastering Accounts Receivable: Tips for Small Businesses in Canada Read More »

A credit memo is a document issued to a buyer from the seller that states a credit balance. Credit memos often include the reason for issuing the memo, the purchase order number, terms of payment and billing, the shipping address, the price, purchase date, as well as the credit memo date. Why are credit memos …

What is a Credit Memo? Read More »

In most businesses, you will be using more than one app to run your business. For example, all of our clients have our basic tech stack that is included in all of our packages which is QuickBooks and Dext. When an app can integrate with QuickBooks it simply means that you can connect the two …

What is QuickBooks Integration? Read More »

Keeping track of your receipts is crucial for having an accurate view of the financial position of your business. Without your receipts, you have no way of confirming how much it costs to run your business and you cannot claim any expenses for write-offs come tax time. Here are four ways to ensure that you …

Four Ways to Keep your Receipts Organized Read More »

This is a question that comes up a lot as even if you are registered as a quarterly or annual remitter for GST/HST, you probably want to be reviewing how much you owe more regularly than that. I advise my clients to make monthly instalment payments to the CRA, even if they aren’t mandatory, and …

How to Review How Much GST/HST You Owe in QuickBooks Online (QBO) Read More »

What is a Record of Employment (ROE)? A Record of Employment (ROE) is completed when an employee has interruption of earnings from your company. This form is completed by the employer for the employees’ Employment Insurance (EI) and submitted to Service Canada. Things to Know About ROEs The earnings in question must be insurable An …

How to Submit a Record of Employment (ROE) Read More »

There is usually a time when your business is growing so much that you need to hire an employee (or more than one). If you have no experience in Human Resources (HR), doing this without a HR Manager can be daunting. There are so many different legal requirements when hiring and having employees and it …

How to Navigate HR Without Hiring an HR Manager Read More »

When determining which tax-free savings account (TFSA) to choose, there are a few things to consider. The first being whether the account will be used primarily for saving or for investing. Once you know this, choosing the right account for you will be much simpler. Some other things to consider when choosing a TFSA are: …

How to Choose a Tax-Free Savings Account (TFSA) Read More »

Running effective virtual meetings is crucial if your staff works remote. If your staff works in an office, it is important to know when to choose to have a virtual meeting over an in-person meeting with your staff. Virtual meetings can save an enormous amount of time and energy when planned and performed efficiently. Below …

How to Run Effective Virtual Meetings Read More »