Apr 1, 2022 | Bookkeeping, Quickbooks Online, Small Business
For each sale you make either a sales invoice or sales receipt should be created. A sales invoice or sales receipt tracks your income and HST so this is vital information that affects your financial statements. You do not need to create both, it’s one or the...
Feb 11, 2022 | Bookkeeping, Financial Reports, Small Business
A balance sheet summarizes a company’s assets, liabilities and equity at a specific point in time. Think of it as a snapshot of what your business is worth on a specific date. A balance sheet is organized into 3 main sections: Assets (what your business...
Feb 4, 2022 | Bookkeeping, Personal Finance, Small Business
As a business owner, it’s important to keep your personal and business banking transactions separate. There are numerous reasons why business owners should open a business bank account: Accounting & Bookkeeping Your monthly bookkeeping will be easier to...
Jan 4, 2022 | Personal Finance, Small Business
Updated January 18, 2022 The COVID-19 pandemic continues to blanket the world as we start 2022. Here are the latest government financial support programs available for Ontario businesses and Canadian individuals and businesses. For Businesses Ontario business...
Nov 12, 2021 | Small Business
It’s difficult to find good people and when you do, you want to do your best to stay competitive so that they will stay working with you. One strategy for a small business to consider is a Health Spending Account (HSA). HSAs are a great way for a business to provide...
Oct 15, 2021 | Small Business
When starting a business, the business structure should be carefully considered as it will have consequences to the way your business is runned. In Canada, there are essentially 3 common business structures: Sole proprietorshipPartnershipsCorporations Sole...
