Once into the business, every business owner understands the importance of bookkeeping. It is never the primary goal of any business owner to do all the bookkeeping on their own. No entrepreneur gets into business to be a good bookkeeper. Still, to be a successful businessman, this is something that can not be taken for…

Whether you are in Toronto or anywhere else in Canada, you are always on the lookout to minimize your tax liability and increase your income. For this purpose, you need Tax planning in Toronto. But this is easier said than done. There are multiple factors that you need to consider if you want to minimize…

Before we expound on the difference between an accountant and a bookkeeper, let’s first define these professions. Accounting Accounting is simply the ”language of a business”. It is the process of recording, analyzing, summarizing, and reporting a company’s financial position, which is usually carried out by professionals holding a license or certification. Bookkeeping Bookkeeping (a…

Before you call the CRA for the information that you already have in your ‘My Account’, you should do a thorough search on the portal as this will save you a lot of time that you waste while waiting for long hold calls. The CRA My Account service has a lot of information that gives…

Bookkeeping is not something that you can put up for later. Usually, this is how some small business owners think about it. They don’t give bookkeeping the importance and the priority that it deserves. They only think about it at the last minute, when they desperately need their books. Although it doesn’t apply to all…

As a small business owner or an entrepreneur, you must have thought about doing your own bookkeeping. It ensures that you don’t overshoot your budget and keeps you on top of the finances. But have you ever considered the fact that you actually might be hurting your business? There is a lot of bookkeepers that…