As a small business owner, you might look at bookkeeping as a necessary evil, something you have to put up with. We often face the tedious and mundane task of spending hours and hours on the same thing. The reason why well over half of all small business owners fail to keep their finances up…

To better understand this issue of how can an accounting firm help you with succession planning for your family business, you first have to know what succession planning is. It is a plan for your company to embrace the change and become stronger. Your family business must be strong because there are many factors to…

Tracking your business finances is essential to manage the cash flow, among other things. That’s why every business, big or small, needs bookkeepers to ensure that all the transactions are recorded and maintained. If you are a startup, you might not think you need a bookkeeper, but that could cause problems. You might want to…

many advantages. It is always recommended to visit the dentist as soon as the problem arises. It could be tooth decay, bad breath, or anything else. The reason is that you might save yourself from intensive pain tomorrow if you get the proper treatment today. Although it would be a little inconvenient visiting the dentist…

Starting your venture is fun and exciting. However, running it successfully is a challenge. You have a lot of responsibilities and tasks to look after. Sometimes, you may not pay much attention to a few tasks like bookkeeping, and it falls behind. Most business owners overlook bookkeeping. However, sound bookkeeping is vital to running a…

When working as a contractor, you have to pay all the taxes and be up to date with the bookkeeping; otherwise, you could face penalties and interests. Not a lot of people have time for that. They have their work cut out for them, and if they spend time anywhere else, they might lose their…

Most business owners wonder if outsourcing bookkeeping would help their business to increase profits. Little do they know that NOT having a bookkeeper to manage your company’s financial data could be disastrous for the growth of the business.   When you have a startup, you won’t have difficulty managing the bookkeeping by yourself if you…

You are all excited to start a business and enter the world of entrepreneurship. You feel elated as well as anxious. You need to be good at so many things to grow your business—for example, marketing, management, accounting, etc. You can easily manage your startup and do well in marketing, but you are unsure about…

You can keep track of your business financials if you have knowledge of accounting. What if you don’t have this knowledge or don’t have time to manage it for your business? You have to estimate the cost and revenues you earn every month. For example, if your retail business is cell phone repair, you will have to…

If you’ve completed the setup procedure of your own business or it is still ongoing, then you might be wondering about the taxes. Whether you’d have to register for the GST and HST at the moment or not? Well, that’s something that every businessman who has just started the business has to understand. They need…