What is a Chart of Accounts in Canada & How to Read?
Table of Contents A chart of accounts is a numbered list of financial accounts that fills out your company’s general ledger and allows you to record all the company’s transactions. It categorizes the financial transactions that your business makes over an accounting period into five primary types of accounts: assets, liabilities, equity, income, and expenses.Businesses […]
How Much Should Accounting Cost a Small Business in 2025?
Table of Contents Managing your business’s accounting costs can be tedious and complex. However, accounting software can help streamline the process and reduce costs.The cost of hiring an accountant varies depending on the size of your company and its specific accounting needs. In general, an accountant will charge hourly or by service and may offer […]
Small Business Tax Planning Strategies For 2025
Table of Contents Small business tax planning is a critical aspect of financial management that involves a thorough assessment of the current financial situation and the strategic implementation of measures to minimize tax liabilities for the upcoming year. As the business evolves, small business owners must stay informed about changes in tax laws and regulations […]
Understanding Payroll Frequency in Canada in 2025
Table of Contents In the ever-evolving world of payroll and employment regulations, both employers and employees in Canada need to stay informed about the latest updates and changes. One crucial aspect of payroll that often goes overlooked is the frequency at which employees are paid.The number of times you run payroll yearly will depend on […]
How to Process Payroll in Canada in 2025?
Table of Contents Processing payroll in Canada can be a complex task, with various regulations and requirements to consider. Payroll processing holds a pivotal role in ensuring that employees receive their earnings accurately and punctually. In Canada, managing payroll is a more intricate affair due to the many rules and requirements. With 2025 fast approaching, […]
A Simple Guide to Tax Deductible Business Expenses in Canada in 2025
Table of Contents The CRA allows business owners to deduct expenses that are reasonable and necessary to earn income. This includes office supplies, medication for a veterinarian or cleaning supplies for a plumber.Remember to keep detailed records and support all expenses with original receipts or invoices. In this comprehensive guide, let’s explore the common business […]
Accounting Checklist How to Close This Fiscal Year (2023)?
Table of Contents The end of the year is a hectic time for businesses. Between heavier traffic, sales spikes, and year-end accounting procedures, it’s easy for hiccups to occur in your books.To ensure the accuracy of your books, it’s important to have a clear plan in place. To do so, you need a comprehensive accounting […]
10 Best Payroll Software for Businesses in Canada in 2025
Table of Contents Payroll is one of the most important parts of any business. Mishandling can lead to serious consequences. Payroll can be a complex and time-consuming process for your business. That’s why it’s important to find the best payroll software that makes this process more efficient and cost-effective. There are many benefits of using […]
Xero Unveils New Product Innovations to Help Small Businesses and Advisors Boost Efficiencies
Table of Contents Xero, a leading cloud-based accounting software platform, has once again showcased its commitment to empowering small businesses and advisors with cutting-edge technology. With a focus on enhancing operational efficiency and streamlining processes, Xero has introduced a series of new AI-powered innovations that are set to revolutionize the way businesses manage their finances. […]
10 Best Accounting Software for Small Businesses in 2025
Table of Contents Managing finances is a crucial aspect of running a small business. With the rapid advancements in technology, the availability of efficient accounting software has become a game-changer for small business owners. These software solutions streamline financial tasks, helping entrepreneurs focus more on growing their businesses. In this blog, we’ll explore the 10 […]
