Cash or Accrual Accounting for a Small Business in Canada
For most self-employed people in Canada, the cash or accrual accounting question has already been answered for tax. The CRA says farmers,…
Canadian vs US accounting: what actually differs
Canadian accounting differs from US accounting first in who writes the rules. In Canada the Accounting Standards Board sets them, and publicly…
Can You Do Your Own Bookkeeping in Canada?
Yes, you can do your own bookkeeping in Canada. There’s no rule that says a business owner needs a licence or a bookkeeper to keep their…
Accounting vs bookkeeping for Canadian businesses
Bookkeeping is recording what happened in your business: every sale, bill and payment, in order. Accounting starts where that record ends. It…
The Fiscal Year in Canada: Who Uses Which Dates
The fiscal year in Canada depends on who is asking. The federal government runs April 1 to March 31. You, as an individual, file on the…