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Top 10 Bookkeeping Mistakes Businesses Make (And How to Avoid Them)

Top 10 Bookkeeping Mistakes Businesses Make (And How to Avoid Them)

Effective bookkeeping is the backbone of every successful business, regardless of its size or industry. Accurate financial records provide crucial insights into financial health, aid in making informe... ...more

Business Bookkeeping

September 18, 20235 min read

4 Ways to Tell if Your Business is Healthy

4 Ways to Tell if Your Business is Healthy

Key indicators to assess business health: track cash flow, analyze profitability, evaluate financial leverage, and monitor KPIs. ...more

Business Bookkeeping

August 22, 20234 min read

5 Questions to Ask Yourself When Considering Moving Your Bookkeeping In-house

5 Questions to Ask Yourself When Considering Moving Your Bookkeeping In-house

Considerations for in-house bookkeeping: 1) Cost-effectiveness, 2) Expertise and time commitment, 3) Scalability and growth, 4) Data security and compliance, 5) Integration with existing processes. ...more

Business Bookkeeping

August 22, 20234 min read

What To Do if Your Business is Operating at a Loss

What To Do if Your Business is Operating at a Loss

Actions for a business operating at a loss: Assess expenses, streamline operations, explore revenue opportunities, consider cost-cutting measures, and seek professional advice for financial turnaround... ...more

Business Bookkeeping

August 22, 20238 min read

Profit First FAQ

Profit First FAQ

Profit First FAQ: Gain insights into implementing Profit First method, understand its benefits, learn how to allocate funds effectively, and find answers to common questions about this financial manag... ...more

Profit

August 22, 20232 min read

Employee or Contractor: What to Consider Before Deciding

Employee or Contractor: What to Consider Before Deciding

Employee or Contractor? Consider factors such as control, relationship, financial aspects, and legal obligations when determining work status. Carefully assess the nature of the engagement to make the... ...more

Business Taxes

August 22, 20235 min read

5 Ways to Manage & Control Your Material Costs

5 Ways to Manage & Control Your Material Costs

Managing material costs: Optimize inventory levels, negotiate with suppliers, track and analyze expenses, implement cost-saving measures, and leverage technology to gain better control over material e... ...more

Business Bookkeeping

August 22, 20237 min read

The Power of Financial Reviews for Small Businesses

The Power of Financial Reviews for Small Businesses

Harnessing the power of financial reviews: Regularly analyze financial statements, track key metrics, identify trends, make informed decisions, and improve business performance through strategic finan... ...more

Business Bookkeeping

August 22, 20236 min read

Understanding the Implications of a Lower Inflation Rate in Canada for Small Businesses

Understanding the Implications of a Lower Inflation Rate in Canada for Small Businesses

Inflation is a critical economic indicator that affects businesses and consumers alike. When the inflation rate decreases, it can have significant implications for small businesses. This blog post exp... ...more

Economy

August 22, 20233 min read

Why Bookkeeping is Crucial to Your Success

Why Bookkeeping is Crucial to Your Success

Keeping track of sales, earnings, expenses, and purchases is fundamental to the overall health and sustainability of your business. Effective bookkeeping produces the data you need to evaluate your cu... ...more

Business Bookkeeping

July 24, 20232 min read

How Profit First can Help You Prepare for a Recession

How Profit First can Help You Prepare for a Recession

Preparing for a recession with Profit First: Implement cash management strategies, focus on profit allocation, reduce expenses, diversify revenue streams, and establish financial resilience to navigat... ...more

Profit

June 28, 20236 min read

3 Ways to Put Your Profit First

3 Ways to Put Your Profit First

Wouldn’t it be great to know that your taxes are covered, you’re getting paid, and you are now seeing a profit? Without that financial stress, you could focus on what you are good at: growing your bus... ...more

Profit

May 08, 20234 min read

Tax Deductions Self-Employed Contractors Should Know

Tax Deductions Self-Employed Contractors Should Know

Independent, self-employed, free agent or whatever term you use, you have to fit the criteria to be considered an independent contractor when it comes to taxes. ...more

Business Bookkeeping

April 03, 20234 min read

Why Business Owners Need to Pay Attention to Profit First

Why Business Owners Need to Pay Attention to Profit First

Profit First for business owners: Prioritize profit allocation, establish separate accounts, regularly analyze expenses, and adjust pricing to maximize profitability. ...more

Profit

April 03, 20237 min read

The Dos and Don’ts of RRSPs

The Dos and Don’ts of RRSPs

Dos and Don'ts of RRSPs: Do contribute regularly, invest wisely, and plan for the long term. Don't over-contribute, withdraw early, or neglect to review and adjust your investments. ...more

RRSPs & Savings

January 09, 20238 min read

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