Community of Professional Bookkeepers
Bookkeeping tips.
We have report a news before regarding the former bookkeeper accused of check fraud and theft in $2 Million Case A 50-year-old who managed the finances for a business in Sault Ste. Marie has been charged with embezzling $559,701.63 from the business in just more than four years. The suspected turned themselves in Dec. 10,…
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I have no idea which genius came up with this idea. After downloading the latest update for the Sage 50 desktop version, when you choose to close the software, the following warning pops up. You can’t even choose “Skip”—the only option is to click “Install Now,” leaving you no choice at all. The only way…
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The recent price increase is a clear indicator of Intuit’s continuous efforts to boost revenue from its widely-used accounting software, QuickBooks Online. The company has attributed this rise to various factors, including inflation and the addition of new features and improvements to the software. In today’s fiercely competitive market, businesses are consistently looking for ways…
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…
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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.