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COVID-19: Canada Emergency Business Account Update

Here’s an update for our fellow Canadians; Bill Morneau, Finance Minister, announced on Twitter that the expanded Canada Emergency Business Account (CEBA) applications are available through the large banks in Canada. What Is CEBA? It was on April 9 of this year that the government released the news that the Canada Emergency Business Account (CEBA). The CEBA provides zero-interest (to some degree) pardonable lending, which can reach the value of up to $40,000 for those small

By |July 21st, 2020|Categories: Accounting, Tax|0 Comments

How virtual accounting can benefit small businesses impacted by COVID

Small business owners have been hit hard by coronavirus, and this has led a lot of entrepreneurs to have to rethink their approach and the way they do business. We understand how tough it can be, especially when you are trying to achieve financial security and keep the business in good health. This means taking the right financial steps, but it can be tough to know exactly what those are these days. One thing is sure,

Is your Product or Service Profitable?

One of the key elements of running a successful business is to determine if your product or service is profitable, and, if so, how profitable? Well, lucky for you guys, we have plenty of tips and ideas that will help you to work this out and make the right decisions for your business moving forward. Check out our advice for figuring out if your product or service is profitable right now!   Understand your products The

When is the right time to hire a bookkeeping service?

Let’s be honest, nobody likes having to sort out their finances (well, except us accountants!), but it’s a business necessity! These days entrepreneurs and small business owners have more opportunity than ever to grow their companies and run the businesses they want to run. But, as you will doubtless be aware, cash is King, and money makes the (business) world go round! You can’t run a successful company without having a handle on the company’s money,

Cash Flow Hacks During Times of Trouble

Business finances can be tricky to stay on top of - hence why you’re checking out our site, right?! But, the more you can do to have processes in place that help with better business cash flow, the more you will be able to get through times of trouble. With the COVID 19 pandemic causing global issues for business owners, here are some awesome hacks you can use to improve cash flow for your company! Better

5 Things to Look for when Hiring a Virtual Accountant

The idea of choosing an online accountant you may never meet face to face can be alarming for some people. There are many factors you should consider before choosing an online accounting firm that will be right for your small business. These helpful hints will be pivotal to helping your business grow and sustain itself. The Virtual It’s vital to decide the level of online accounting services your company requires. Whether you need daily, weekly or

Benefits of Outsourcing Your Bookkeeping

Whether you’re a farmer in Manitoba, a chair manufacturer in Ontario or own a tutoring company in Quebec, once your business starts to gain momentum your company must find an effective way to manage its books. Some businesses hire an in-house accountant while others, usually new businesses or small to medium sized businesses, find a qualified and reliable local bookkeeping service they can trust to outsource their financial records. For companies who outsource their bookkeeping, the

Difference between an accountant and a bookkeeper

The vast amount of people don’t understand the difference between a bookkeeper and an accountant. However there are very important distinctions between the two and how they affect your personal and/or business decisions. Bookkeepers handle the daily financial records of a small business. They keep the books and monitor every transaction going in and coming out of accounts. Small business accounting services tend to have more advisory positions, performing audits, managing reports and offering guidance to

The 2020 Online Accountant

What is an online accountant? Are they different from traditional accountants? Do they offer different services? Do they cost more? Do you need to be a computer expert to understand one? Simply put, online accountants embrace today’s technological world thereby making accounting services more convenient and available for their clients. At the same time they offer the identical services as traditional accountants - corporate and personal tax returns, preparation of financial statements, advisory services, audit and

Tips for Working from Home

Hi everyone, many of us are trying to adapt to the new working space online and working from home. There are many challenges from adapting to new software and technology, to working with your kids and family in the background, to having a proper designated space. Whatever your struggles are, we know them, and we have successfully overcome them in our company as an online business and home working environments. Below are some of our success

By |April 3rd, 2020|Categories: Productivity|Tags: , , , |0 Comments

Money Saving Tips for Small Business

Hi everyone, we believe that cutting costs for your business is equally important as generating sales. By cutting costs smartly you can optimize your business so you can achieve or maintain profitability. Below are some tips on how you can cut costs and save money for your business based on our work with our clients. Know your numbers! Knowing your financial information is essential. This might sound simple, but we find that many business owners don’t

Great Apps for Working Remotely

Hi everyone, with remote work starting to take off, it’s a better time than ever to review some of our favourite apps for working remotely. We are lucky that we live in a day and age where there is so much potential to still get the job done even if you can’t get to your office! Below are some of the apps we use as an established location independent company! Intuit QuickBooks Quickbooks Online makes staying

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