There are two primary accounting methods in use in Canada today: The cash method and the accrual method. The difference between them is in when small businesses recognize revenue and expenses. With the cash method, both revenue and expenses are recognized when cash actually changes hands. Under the accrual method, the business recognizes revenue and expenses when they're earned, rather than when they are paid ..read more

The New Year is over – and tax season is on full-tilt. That means thousands of small business owners and self-employed Canadians are scrambling to wrap their heads around paying and filing their taxes ..read more

Nearly all small businesses today use some form of accounting software, to keep their financial functions moving efficiently and (relatively) error-free. But choosing the right small business accounting software package can be difficult. Before you commit to any single small business accounting package or platform, here are six critical factors to consider ..read more

Many entrepreneurs are realizing the value of using accounting software-as-a-service vendors. But just having access to software is no substitute for understanding financial management fundamentals. The more you know about the principles of financial management for small businesses, the more benefit you’ll get out of the software. To help deepen your understanding, here are seven principles of bookkeeping that apply to small businesses in all industries ..read more

Opening a small business is one thing; operating it is quite another. Monitoring everything from hiring and firing to benefits management to marketing, maintenance, fleet operations, inventory, training and everything in between takes enormous attention to detail ..read more

Let’s tell a scary story for the business owners reading these words ..read more

In this guide to construction bookkeeping, we review some of the key factors that any contracting business should consider as they review their bookkeeping processes. Contractors and their company bookkeepers alike can use this guide to ensure they are thinking through the various scenarios and complexities when it comes to setting up a construction bookkeeping system ..read more

If you are an owner of a franchise business you understand how busy it can be running your day to day operations: hiring staff, ordering inventory, and ensuring your franchise runs smoothly ..read more

For thousands of years humans have wanted to know what the future has in store. The ancient Greeks had their stories about powerful Oracles that could divine what was to come. Fortunetellers have plied their trade throughout the centuries to kings, noblemen and the common folk alike ..read more

QuickBooks Online is one of the most widely used accounting packages for small businesses in North America. Our team has the opportunity to work with business owners on a daily basis, and we understand that many entrepreneurs focus on the ins and outs of their business, but often overlook the day-to-day bookkeeping tasks. There are many resources available online that can teach businesses how to use applications such as QuickBooks Online, but we often find that a training session with one of our experts is the most efficient way to get a handle on your bookkeeping ..read more