Types of Financial Statements and How to Read Them in 2025
“Financial statements show you where a company’s money came from, where it went, and where it is now.” Financial reporting aims to picture a company’s financial condition and profitability. Following is your guide to understanding their types and various aspects. Importance of being skeptical about financial statement data Yes, you heard that right. The reason […]
8 AI Tools To Use for Expert Bookkeeping In 2025
Learn which of the AI tools is most efficient for bookkeeping in Canada in 2025. Unlock the power of automated solutions to make managing your financial processes easier, more accurate and faster. Canadian bookkeeping is a relatively modern profession that develops rapidly with artificial intelligence techniques. These tools help track accounts, scale down the use […]
How To Prepare Business Exit Strategy in Canada in 2025
Making an exit plan for your business is as important as business owners overlook it. Â On average, Business owners spend over 80 hours writing business plans and only 6 hours planning an exit. –Ronen Shefer Statistics from a survey of 500 businesses Planning an exit is essential to ensuring future ease and maximizing your business. […]
How to Undertake Entrepreneurship in Canada in 2025
It may seem strange, but anyone can learn entrepreneurship at any stage in life. In fact, an entrepreneur’s whole life is a learning process. With the right guidance and understanding of how this much sought-after enterprise unfolds, you can transform your existing business or start from scratch and build an upward trajectory. However, there can be […]
The Basics of Carbon Accounting: Why It Matters and How It Works
Carbon accounting has become a matter of increased value to your business as the Earth’s temperature rises by 0.06 degrees centigrade every decade due to the emission of greenhouse gases, which have kept growing since 1850. Therefore, it has become essential for businesses to be more sustainable because businesses will survive only if the planet […]
Annual Tax Health Check-Up for Your Business: Free Advice
There needs to be more than just timely filing of taxes. Undertaking an annual tax health checkup can be equally crucial. If you ignore this part, many unwanted consequences can arise, adversely affecting your business. Any innocuous-looking transaction can lead to inadvertent effects, and in the world of taxes, you should plan and do things […]
How to Sue Your Bookkeeper in 2025 Canada
Find out how you can follow the process of suing your bookkeeper in Canada. Learn your rights as a business owner, consider mediation, and prepare for trial to safeguard your enterprise. Bookkeepers are key players in the administration workplaces of a business. Their role is to update the records and keep them accurate. Still, what […]
A Comprehensive Guide to Double-Entry Bookkeeping
For small businesses entering the realm of complex financing, the art of double-entry bookkeeping is a lifesaver. Managing their finances and keeping an eye on the balance sheet can be daunting. However, following simple accounting principles can help them manage their tasks effectively. Double-entry Bookkeeping or double-bookkeeping is a concept that can ensure every business’s […]
Online Accountant’s Insights from Xerocon Nashville 2024
At Online Accountant, being an accounting business means we must be at the forefront of emerging technology to do our best work for clients. We had the pleasure of attending Xerocon Nashville 2024. At this monumental event, accounting professionals, tech enthusiasts, and innovators from within this vertical gather to discuss the various new businesses in […]
Tax Documentation for Late-Filing Businesses: Know it All!
Let’s be clear: late filing is never a situation where a business should desire to find itself. But being late on taxes is normal. It is an ordinary happening. Therefore, no matter how late you are on taxes, get your business back on track today because the penalties for late filing are always less severe than not […]
