You need a two-pronged approach to managing your business finances: a solid accounting system and the help of an accounting professional. The key is knowing which tasks to handle internally and which to outsource.
Correctly handling payroll is essential to the success of your business
While the holidays can be the busiest time of year for many small businesses, it’s also important to keep your year-end accounting tasks top-of-mind so you can properly close your books and enter the year ahead on the right foot.
For many small business owners, finding time to tend to the various financial tasks necessary for the successful day-to-day management of a business can be a challenge. But with the right tools in place, save your time and your sanity.
Poorly managed cash flow can devastate a business, so if you currently use a shoebox full of receipts and invoices to manage your small business’ books, it might be time to look into software-based accounting solution.
When you’re starting a new business, it can be really exciting to think about all the money you’re about to make. But how long will it take? And what do you need to do to reach those lofty goals?
According to Stats Canada, only 51% of businesses survive beyond their first five years. And all too often, the ones that don’t make it end up shutting their doors for very similar reasons. So how do you keep your small business from becoming the one out of every two that doesn’t succeed?
“As the owner of your business, you are the key to its success,
Unless you are an accountant or fan of working with numbers, bookkeeping is probably not your favourite task. But adopting some good habits early can help you avoid costly errors when it comes to record keeping.
Travel is expensive in Canada, so I want to outline a few ways we’ve found that small business owners can reduce travel expenses.