Community of Professional Bookkeepers
Bookkeeping tips.
Get ready, starting from next month, your net income will decrease due to increased taxes! The treatment of the Canada Pension Plan (CPP) on the personal income tax return has changed since 2019. This means that, in the case of a regular maximum contribution of $3,867.50, $631.00 will be deductible on the T1 (rather than…
A professional bookkeeper specializes in maintaining accurate and organized financial records for businesses and organizations. They record financial transactions, track expenses and income, reconcile bank statements, and ensure that financial data is properly categorized and documented. Bookkeepers are crucial for helping businesses maintain their financial health, make informed decisions, and comply with accounting and tax…
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In today’s rapidly evolving business landscape, the integration of digital technologies has transformed the field of accounting. As a result, professionals in this domain are required to possess a unique set of skills that go beyond traditional accounting practices. To address this need, the Certified Digital Accountant (CDA) certification has emerged as a valuable credential…
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Introduction: Reporting accounting misconduct is an essential step in maintaining the integrity of financial systems and upholding ethical standards. This guide aims to provide a comprehensive overview of the process involved in reporting such misconduct. If you have knowledge or suspicions of accounting malpractice, following the correct procedure is crucial to ensure that your concerns…
Canadian businesses are required to submit a dissolution notice upon closure. Sole proprietorships and partnerships submit a form titled “Dissolution or Change of Proprietorship (or Partnership)” to the provincial Corporate Registry office, while corporations submit an “Application for (Voluntary) Dissolution” to the same office. Additionally, corporations must provide a copy of their corporate articles of…
Read More “Filing a Dissolution Notice for Canadian Businesses: What You Need to Know” »
Discover how ERPNext, an open-source enterprise resource planning (ERP) software, can help small and medium-sized enterprises streamline operations, enhance efficiency, and achieve sustainable growth. Learn how this software can centralize control, automate tasks, provide real-time financial data, optimize inventory levels, and seamlessly adapt to changing business requirements. With its comprehensive suite of features and user-friendly interface, ERPNext proves to be an indispensable asset for SMEs seeking long-term success in a competitive marketplace.
Learn how to setup Class Tracking in Quickbooks and monitor your business’s financial status based on departments, locations, properties, and more.
CRA announced that beginning in 2023, they will only provide Electronic Notice of Assessments and Reassessments for taxpayers. NO more mailing letters will be sent to your home but instead, they will just send a notification to your email, if any new updates is ready for you to view in My Account on the CRA…
Read More “A Guide to Register My Account & My Business Account in Canada Revenue Agency (CRA)” »
Microsoft Excel has gone through a number of changes over the years. The most impactful changes have been around improvements Microsoft made to the cloud-based version that launched with Office 365, At launch it was bare bones functionality. There have been a lot of improvements since then, allowing users to collaborate more efficiently and bringing it…
Read More “You should know these latest Excel features—and the time they save” »
Quickbooks, developed and owned by Intuit, is one of the most popular small business accounting apps available. We also recommend this software before. Millions of small businesses use Quickbooks in across the US and Canada, but that doesn’t mean they’re all happy. In fact, quite a few have already cancelled. And if you’re thinking similar…
