Moving From DIY to Professional Bookkeeping in Canada
The time to hand your books to a professional is when the work stops fitting into your week, or when a filing you can’t afford to get…
Bookkeeping for digital product sales in Canada
The best bookkeeping habit for digital product sales is to record every sale with the customer’s province and the tax you charged on it,…
Setting up accounting software for a new Canadian business
To set up accounting software for a new business in Canada, get your business number first, pick the fiscal year end, decide whether…
How to Create a Cash Flow Statement in Canada
A cash flow statement shows where cash came from and where it went during a period, sorted into operating, investing and financing activities.…
How to track inventory for an online store in Canada
To track inventory for an online store in Canada, you need two things the CRA asks for: a count of the goods you hold for sale at each year…
How Virtual Accounting Services Work in Canada
Virtual accounting means you share your bank feeds, invoices and receipts online, and a bookkeeper or accountant you may never meet does the…
How the CPA mentorship program works in Canada
The CPA mentorship program is a required part of the practical experience you need to become a chartered professional accountant in Canada.…
Tax Advantages of Incorporating in Canada
The main tax advantage of incorporating in Canada is a low rate on the first $500,000 of active business profit for a Canadian-controlled…
How to switch accounting software without losing data
You can switch accounting software without losing data if you export everything first, keep the old file, and check the new books against the…
Preparing for a Financial Audit in Canada
To prepare for a financial audit in Canada, get your books and source documents into one place you can open quickly, and make sure they match…