“I scan my receipts, can I toss the originals?”
The Canada Revenue Agency (CRA) requires tax documents to be kept for roughly seven years (we posted a note earlier with details on the retention …
Why your business needs proper financial statements
As year end approaches, it becomes important to prepare financial statements for your business (income statement, balance sheet and cash flow). While you may have
Waiting until tax time can limit business growth
“The ultimate inspiration is the deadline” ~ Nolan Bushnell
Income tax return deadlines are often the catalyst to organize, summarize and review financial information. I …
Client portal – coming soon – making accounting & tax services even better for you
We are pleased to announce that we are in the process of implementing a client portal. This portal will be a very easy and convenient …
QuickBooks Online – 4 tips and tricks
Your time is valuable and efficiencies are great! Having used various versions of QuickBooks for quite some time, I am aware of many shortcuts and …
Why your chart of accounts is worth reviewing
A chart of accounts is a list of the names (and sometimes numbers) of the accounts used to record transactions into the General Ledger. These…
7 years – hold on to those tax documents
“The tax return is filed, I no longer need my tax stuff right?” Unfortunately, no.
The Canada Revenue Agency requires tax documents to be retained …
10 factors that may trigger a CRA audit
We’re often asked, “what triggers a tax audit?” As tax payers we all dread the thought of being contacted by the CRA for information. After …
5 important bookkeeping tips
Our last blog covered some of the reasons why bookkeeping is important. Following that, here are a few bookkeeping tips:
- reconcile bank accounts monthly –