Foreign Employees and Canadian Payroll Tax Rules
Foreign employees can trigger Canadian payroll duties in two very different ways: they work here, or they work abroad for a company that is…
Inventory Management for Canadian Small Businesses
Good inventory management in a Canadian small business means counting what you have, knowing what each unit cost you, and buying only what…
How to Account for Business Insurance in Canada
You can deduct commercial insurance premiums on the buildings, machinery and equipment you use in your business, and the CRA puts them on line…
Bookkeeping Tips for Seasonal Businesses in Canada
Seasonal bookkeeping works when you record every month the same way, including the dead ones, and set cash aside in the busy months for the…
How to Pay Yourself From a Canadian Corporation
The way to pay yourself from a Canadian corporation is salary, dividends or a mix, and on $100,000 of Ontario profit the calculators show you…
Transfer pricing for Canadian multinational companies
Transfer pricing in a Canadian multinational comes down to one test: would two unrelated companies have agreed to the same price and terms?…
Handling Accounts Receivable for a Small Business
Handling accounts receivable well comes down to three habits: invoice the day the work is done, state the due date on the invoice, and chase…
Foreign Currency Transactions in Canadian Bookkeeping
Book foreign currency transactions in Canadian dollars, using the Bank of Canada exchange rate on the day each amount arises. That’s the…
Financial KPIs for Canadian Small Businesses
The financial KPIs worth tracking in a small Canadian business are few: gross margin, net profit margin, cash on hand in months of costs, how…
Cash Flow Management for Canadian Small Businesses
Good cash flow management in a Canadian small business starts with one habit: know what’s coming in and going out for the next 13 weeks,…