Whats a tech stack? Why is it important? You may have heard the term tech stack and might be wondering what it is and why you should care. The term comes from the computer software industry. Today the term is being used increasingly for solving business accounting problems and this article refers to the cloud accounting software that is used in combination for businesses. For small businesses the tech stack usually revolves around the accounting software, QuickBooks Online and Xero are two popular ones. From there a number of other software solutions (called ‘apps’) are used in combination ..read more

What you need to know before hiring your next accountant Unlike many other professionals, anyone can call themselves an accountant or bookkeeper. The term accountant is not reserved or in any way restricted. This does not mean that a non-designated accountant is not competent, it only means that they do not have to adhere to the standards of professional accountants. Only Chartered Professional Accountants (CPA) are recognised in Canada as Professional accountants. CPAs study for many years and are required to pass rigorous examinations before they can use their designations. Additionally ..read more

Ideally, you and your accountant are more than just “adviser” and “client”. With your combined skills, expertise, and shared mission to support a thriving business, you’re more like strategic partners. The key to achieving success in any partnership is, of course, strong communication. At your next meeting, be sure to ask your accountant these four important questions. 1. What's my best strategy for increasing revenue? Every business owner strives to improve profit margins – but the best way to quickly and/or sustainably grow revenue will vary from business to business. When reviewing your fi ..read more

You might be wondering why an accountant would be writing about faxes (instead of taxes).  I was recently watching an episode a well known news program.  In this program one of the people being  interviewed was discussing the Covid-19 Pandemic and some of the early issues.  This article isn’t about the Pandemic, but it is about technology and how there is simple and inexpensive tools available. The interviewee mentioned how they were trying to get Covid information to another party interested in compiling information early in the Pandemic sometime in January 2020.  Th ..read more

What you need to know before hiring your next accountant Unlike many other professionals, anyone can call themselves an accountant or bookkeeper. The term accountant is not reserved or in any way restricted. This does not mean that a non-designated accountant is not competent, it only means that they do not have to adhere to the standards of professional accountants. Only Chartered Professional Accountants (CPA) are recognised in Canada as Professional accountants. CPAs study for many years and are required to pass rigorous examinations before they can use their designations. Additionally, p ..read more

Behind in your bookkeeping? A CPA's guide to getting caught up. When you started your business you likely had some really big plans. Provide great customer service make lots of money and have more time to spend with friends and family. Sometimes things don’t go as planned. Perhaps you ‘fell’ into your business as a result of a great opportunity or maybe you had a plan. In any case you didn’t intend for your accounting to get behind. After all, you aren’t an accountant. Maybe you even had someone helping you but they are long gone. At first it wasn’t too bad, maybe one GST return was missed ..read more

What information do I need to get started? This list is a starting point, your specific situation may differ. Business bank and credit card statements. Many banks and credit companies provide this information online and can go back as far as seven years Copies of cheques (often these are on your bank statements) Listing of e-transfers sent and received Documents that support your business transactions Invoices that you have sent out to clients Documentation for purchases you have made. Receipts, bills from vendors. Loans that you have in the business name Agreements that you have made t ..read more