January 14, 2024
NONPROFIT: Savings for Impact
NONPROFIT: Savings for Impact As a nonprofit, fiscal responsibility is critical to sustaining impactful initiatives. To navigate financial challenges without compromising quality, leverage technology, explore shared services with fellow nonprofits, and maximize the power of volunteers. Negotiate vendor contracts and embrace remote work to minimize overhead costs. Foster a culture of transparent budgeting, encouraging innovative…
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Refined
January 14, 2024
Small Biz Bookkeeping 101: Avoiding Costly Errors
Small Biz Bookkeeping 101: Avoiding Costly Errors Bookkeeping is the beat that keeps everything in balance in the complex dance of running a small company. However, even the most seasoned business owners occasionally trip over a few steps. Here are a few bookkeeping errors that are unique to Small Businesses and how to avoid them…
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Refined
January 14, 2024
A Quick Guide to GST/HST for Small Business Owners
As a small business owner, you’re no stranger to the complexities of taxation, and one essential aspect to master is the Goods and Services Tax (GST) and Harmonized Sales Tax (HST) in Canada. Understanding these taxes is crucial for ensuring compliance and managing your finances effectively. GST is a federal tax, and the HST is…
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Refined
January 14, 2024
New Matching Contributions Alert: CPP2 & QPP2 Explained!
Starting this year, a secondary contribution system, CPP2 and QPP2, will be launched for employees surpassing the Year’s Maximum Pensionable Earnings (YMPE). Employers are required to match these additional contributions to strengthen retirement pensions through this initiative. In addition to the current YMPE, a crucial component is the Year’s Additional Maximum Pensionable Earnings (YAMPE). If…
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Refined
May 16, 2023
The Benefits of Hiring a Virtual Bookkeeper for Your Business
In today’s fast-paced and ever-changing business landscape, entrepreneurs and small business owners must stay agile and make smart decisions to thrive. One of the critical aspects of any business is bookkeeping, which involves managing financial records, transactions, and reports. However, many small businesses struggle with bookkeeping due to lacking expertise or resources. Fortunately, hiring a…
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Refined
May 16, 2023
The Importance of Accurate Bookkeeping for Small Businesses
Introduction: Accurate bookkeeping is essential for any small business. It provides a clear and concise picture of the company’s financial health and is crucial for making informed decisions, financial planning, and tax compliance. This article will explore why accurate bookkeeping is vital for small businesses and how it can help them succeed. Reasons Why Accurate…
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Refined
May 16, 2023
How to Choose the Right Accounting Software for Your Business: A Comprehensive Guide
Introduction: Accounting software is a critical business component, regardless of size or industry. With the right accounting software, businesses can efficiently manage their finances, streamline their accounting processes, and make informed financial decisions. According to a report by MarketsandMarkets, the global accounting software market is expected to reach $12.03 billion by 2023, with small and…
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