Category Archives: Bookkeeping
The LedgersOnline staff has worked with clients around the world, of various sizes and industries. We have witnessed firsthand the potential problems that bookkeeping and accounting can cause for companies, especially when they are small and have put their finances on the back-burner while focusing on growing their business. With this being said, the bookkeeping process is an integral part of every business, and when done properly, can give you a strong understanding of your financial positioning. Below are five simple tips that will give you the opportunity to get up-to-date on your business’ bookkeeping and accounting, and gain an insight into how you can successfully grow your business.
It is getting close to the return of the PST, and we can tell that some businesses are getting anxious. On April 1, 2013, the reimplementation of our Provincial Sales Tax and Goods and Services Tax will take the place of the current Harmonized Sales Tax. In this post, we will discuss how small businesses can get ready for the PST, as well as provide a list of helpful webinars, speeches, and tutorials to help you with the process.
Finding a professional and reliable bookkeeper or accountant to help with your business is one of the most important things you can do as a business owner. With this said, the process of finding the perfect firm can be a time consuming and stressful task. We have been in the accounting industry since 2002, and have heard and seen it all. From our experiences, the perfect agency changes from client to client, and is dependent on the business’s culture, structure, values, and goals. With this said, we have created a simple 4-step process that ensures you will find a bookkeeper and/or accountant that has the ability to work around your needs, and help you to reach your business goals.
The terms “Bookkeeping” and “Accounting” are often used interchangeably to define a vast amount of tasks associated with business finances. Although these two terms are related, it is important to note that they are very different. The function of a bookkeeper is to meticulously record an organization’s day-to-day transactions, ultimately creating an in-depth file of the organizations financial information. This is where accountants take over, analyzing the information that has been attained, and creating various reports that showcase the organizations financial status.
Last March, the Canadian Government announced that as of February 4, 2013, it will eliminate the penny from Canada’s coinage system. Because the manufacturing of one penny translates into 1.6 cents, Jim Flaherty has stated that it is time to remove the penny from circulation. So what does this mean to small business owners? Here is a summary of the key facts that Canadian retailers should know:
With every newly re-elected president comes new policies and actions with Obama been is no different. These new tax related policies and actions often affect the small business owner but some businesses aren’t always aware of these changes. Below are 3 proposed policies we have summarized for your ease of reading.