What to do when your accounting system fails
When your accounting system crashes, the CRA’s deadlines don’t move, and neither does your duty to keep records. You generally…
What to Do About Missing Receipts for Business
A missing receipt is a problem, but it isn’t always a fatal one. The CRA expects you to keep records for six years, and if a document…
Fixing cash flow problems in a Canadian business
The fastest way to tackle cash flow problems in a Canadian business is to work out which money is really yours. GST/HST you collected and…
What to Do About a Tax Filing Error in Canada
If you’ve found a tax filing error after you sent your return, don’t refile and don’t wait. You fix it by asking the CRA to…
Why financial forecasting matters in Canadian planning
Financial forecasting in Canadian business planning is a plan for cash, and the tax bills are the part most owners leave out. Sales, costs and…
How can an accountant help with a business valuation?
An accountant helps with a business valuation by turning your books into a defensible price: they clean up the earnings, pick a method, and…
Financial Roadmap for Expanding a Canadian Business
A financial roadmap for business expansion is a month-by-month cash forecast for at least the next 24 months, plus a plain list of what…
What to Do When You Receive a CRA Audit Notice
A CRA audit notice is a letter or call that says the CRA wants to look closely at your books and records. Don’t panic, and don’t…
Financial Modeling in Canadian Business Planning
Financial modeling in business planning means building a spreadsheet that turns your assumptions into cash, profit and tax, so you can change…
Overtime and Stat Holiday Pay in Canadian Payroll
Overtime and statutory holiday pay follow provincial rules, so the same shift can pay differently from one province to the next. In Ontario…