GTA Accounting Insights

Category: Bookkeeping & Accounting

The Role and Importance of Bookkeeping for Small Business in Canada

It doesn’t matter what type of business you operate; it is essential to know how bookkeeping ensures the proper functioning of your business. Bookkeeping is the backbone of the entire accounting system and it is highly important to make sure that your bookkeeping generates accurate, error-free, and up-to-date results. If it is intimidating for you…
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Bookkeeping Essentials for Small Restaurants in Canada

Many small restaurant owners in Canada fail to complete even the first year of their business operations only because they fail to manage their restaurant’s cash flows appropriately. There can be a lot of misappropriations that can only be controlled by implementing an industry-specific accounting solution. Restaurants are not exempted from the need for accurate…
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How Can You Benefit From ‘Virtual Accounting Services’?

Virtual accounting, online accounting, e-accounting, and cloud accounting are some of the modern names of accounting that are used interchangeably. Every accounting function that a traditional accountant used to perform in a brick-and-mortar office is now performed remotely with greater efficiency and effectiveness. There are many reasons why Canadian corporations are willing to partner with…
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What Technological Tools are Available for Virtual Accounting Services?

Virtual accounting refers to all those services that an individual or an accounting firm offers online. The biggest benefit of moving from traditional accounting to the virtual environment is that you can access your financial records anytime, anywhere with a simple internet connection and a laptop. If you have decided to set up a virtual…
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Advantages of Hiring a Virtual Accountant

‘Virtual Accounting’ is an emerging trend that allows qualified accountants to offer various accounting services remotely. Most of the Canadian businesses who are engaged with virtual accountants are taking advantage of their efficiency, flexibility, and cost-effectiveness. If you are self-employed or run a small business in Canada and cannot manage your accounting & bookkeeping tasks…
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How to Use QuickBooks for Recurring Invoices

There are many QuickBooks features that you can use to automate your accounting tasks. If you need to invoice your customers on a regular basis, you should use one of the powerful features of QuickBooks i.e. Recurring invoice. This feature can give your customers all the details such as invoice due date, invoice amount, and…
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Why Most Canadian Corporations Are Choosing Cloud Accounting Firms

The concept of ‘Cloud Accounting’ has evolved due to excessive reliance on virtual reality and the desire to digitize businesses. The widespread of internet-based applications have given birth to cloud accounting. Most of the Canadian corporations are moving their traditional accounting functions to the cloud. They are looking for more in-depth insights into various cloud…
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What to Look for When Hiring a Bookkeeping Service

Bookkeeping is an essential element of the overall accounting system and if you get the right person and processes in place, you will get the right financial information in a timely matter that will help you to make accurate and timely decisions. what essential things you need to look for when hiring a bookkeeping service?…
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Top 15 Tips to Use QuickBooks More Efficiently

QuickBooks accounting software is the most reliable tool for small & medium enterprises which can help businesses to simplify their finances. The software has a complete and powerful tool for bookkeeping and accounting services. It can handle customer invoices, vendor bills, and business taxes more efficiently. We have highlighted the top 15 helpful tips on…
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Comparison of QuickBooks Vs. Sage 50

Which accounting software is better; QuickBooks or Sage 50? It is better to check the unique features of both software applications. Additionally, analyze the hidden costs such as setup cost, support plans, up-gradation fees, cloud storage fees, and other similar charges. This will help business owners in deciding to select the right software out of…
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