Are you worried that a small payroll error could cost your business thousands in fines? Payroll compliance is a crucial yet complex part of running a business in Canada. As regulations change, the chances of a missed update or miscalculation can put businesses at risk of penalties. Payroll compliance isn’t just about paying employees on… Continue reading Latest Payroll Compliance Tips For Canadian Businesses | 2024
Blog Category: Bookkeeping Service
Why Is Estate Planning Important For Business Owners
Are you confident your business will continue to thrive if something happens to you? For business owners, estate planning isn’t just about passing on personal assets, it’s about protecting the future of your company. Without a plan in place, your business could face serious risks, including tax burdens, legal disputes, or even closure. The absence… Continue reading Why Is Estate Planning Important For Business Owners
Should I Incorporate My Small Business in British Columbia?
Are you asking yourself whether you should incorporate your business or not? Whether you are an entrepreneur or business owner it is crucial to know the differences between a sole proprietorship and a corporation so that you can pick and choose the right type of enterprise for your business. Understanding their requirements, functioning, and differences… Continue reading Should I Incorporate My Small Business in British Columbia?
Best Practices for Managing Payroll in Canadian SMBs
Are you struggling to effectively manage payroll for your small business in Canada? Effective payroll management is crucial for any business to survive and stay profitable as bad payroll management practices can lead to legal penalties, cash flow issues, employee dissatisfaction and much more. Implementing a few of the best practices can make payroll management… Continue reading Best Practices for Managing Payroll in Canadian SMBs
Accrual vs cash accounting: Which is right for your Canadian SMB?
Could your small business’s financial statements be lying to you? The answer is probably “yes” if you are still using the cash accounting method. For example, a financial statement illustrating how much money you have earned over a period of time (income statement) will look very different if all your accounting is based on when… Continue reading Accrual vs cash accounting: Which is right for your Canadian SMB?
Avoid These 5 Accounting Mistakes as a Small Business Owner
Do you find yourself juggling multiple responsibilities for your small business? As a small business owner, it is ubiquitous to juggle multiple responsibilities however, this can lead to accounting mistakes that can be bad for the business’s financial health and may stunt overall business growth. For any business to succeed whether small or big, proper… Continue reading Avoid These 5 Accounting Mistakes as a Small Business Owner
What is the best accounting software for small business in Canada?
Are you struggling with various accounting activities from issuing invoices, tracking accounts payable, expense tracking and categorization, etc? If Yes! It’s time to consider using accounting software to ease the burden. This blog highlights key considerations for evaluating and selecting the right accounting software for your small business in British Columbia. In Canada, small businesses… Continue reading What is the best accounting software for small business in Canada?
The Role Of Accounting In Strategic Decision-Making For Restaurants & Pubs
As a restaurant owner do you ever doubt your decisions before making them? If that’s the case then it’s time to switch to the strategic decision-making approach which is more structured and comprehensive allowing for confident and informed decisions. Strategic decision-making involves management accounting which helps gain valuable insight into the financial health of the… Continue reading The Role Of Accounting In Strategic Decision-Making For Restaurants & Pubs
Benefits Of Hiring Professional Accountants In Surrey British Columbia
Running a small or medium-sized business (SMB) can feel like juggling between competing priorities. You might miss out on growth opportunities while trying to handle everything from marketing to product development to accounting yourself. As an SMB owner, you can save money while improving your product or service with the help of a CPA in… Continue reading Benefits Of Hiring Professional Accountants In Surrey British Columbia
How To Increase Cash Flow In A Restaurant?
Rising food costs, staffing challenges, and ever-evolving customer preferences present substantial challenges in maintaining a healthy cash flow for your restaurant. “Isn’t achieving positive cash flow a fundamental objective for any restaurant?” Indeed, it is. And, with strategic measures, this formidable challenge can be transformed into a manageable journey toward financial stability. This article dives… Continue reading How To Increase Cash Flow In A Restaurant?