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When it comes to dealing with the Canada Revenue Agency (CRA), taxpayers often find themselves navigating through a maze of complex terminology. Two commonly misunderstood terms are “review” and “audit.” CRA Review A CRA review is an...
As a small business owner, it’s important to have a basic understanding of accounting terms and concepts. Knowing these terms can help you make informed decisions and better understand your business’s financial performance. Here are some of the most common...
For Ontario based companies that sell products and/or services, once sales exceed $30,000, GST/HST (Goods and Services Tax/Harmonized Sales Tax) must be collected from customers and remitted to the CRA and as such, the business must register for a GST/HST account. The...
QuickBooks Online is a great place to keep a list of all your customers in one place. It’s super easy to add new customers and to manage your customer list. Ensuring the accuracy of your customer list is important as it’s directly tied to your invoicing. The...
As a business, you track the profit and loss of your business as a whole but what about tracking profitability on each job or project? Construction and project based businesses are best suited to take advantage of QuickBooks Online Projects. The Projects feature...
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