What to Know Before You Hire a Bookkeeper
When you hire a bookkeeper, you still own the books. The CRA expects business records to be kept for six years from the end of the last tax…
When should you hire an accountant in Canada?
The best time to hire an accountant is before the deadline that worries you, not the week it lands. For a self-employed person that usually…
Financial Statements a Small Business Needs
A small business in Canada needs three sets of financial statements in practice: a balance sheet, an income statement, and a statement of…
How Often to Meet With Your Accountant in Canada
How often should you meet with your accountant? Nothing in Canadian tax law sets a number, so it comes down to your deadlines. A sole…
In-house or outsourced accountant in Canada: how to decide
An in-house accountant is your employee, so you pay salary plus your share of CPP and EI. An outsourced accountant is a firm or a contractor…
Red Flags to Watch for Before You Hire an Accountant
The biggest red flag when hiring an accountant is anyone who asks you to sign a blank form or promises a result before seeing your papers. The…
When to Hire an Accountant for Your Business
Hire an accountant when your taxable sales get close to $30,000 in a year, when you take on your first employee, or when you form a…
How to choose bookkeeping software in Canada
The right bookkeeping software in Canada is the one that handles your province’s sales tax, fits the number of people touching your…
Does Accounting Software Follow Canadian Tax Rules?
No accounting software follows Canadian tax rules by magic, and we couldn’t find any CRA grading of bookkeeping apps. What the CRA does…
QuickBooks or Xero for a Canadian Business
Nobody can honestly say that QuickBooks or Xero is better for every Canadian business, and we won’t pretend otherwise. Both handle…