Recently, we made the choice to be a Xero-only firm. Previously, we used both QBO (aka QuickBooks Online) or Xero, combined with Hubdoc. So, what is the reason and logic behind making this change?

Although the process will differ depending on the type of business you want to start, some steps of starting a new business in Canada remain fundamentally the same. We created this resource for Canadian Businesses and entrepreneurs who are looking for guidance through the startup phase of business.

Business Owner Burnout: how to recognize the signs, and what you can do about it. Here we share three practical strategies that will help you tackle the burnout that can happen to any business owner.

A question that I get asked often by business owners who are hiring their first employee is: how does vacation pay work? Does it get paid out? Do I have to do it? Short answer is yes, all Canadian employers are required to pay at least two weeks of vacation for “every completed year of employment,” CRA. What’s a completed year? It’s twelve consecutive months from the start date of employment. If you hire someone on February 18th, 2021, you will be required to start paying or giving paid time off on February 19, 2022 .

The Government of Canada describes the job of a bookkeeper/accountant as follows:

“Accounting technicians and bookkeepers maintain complete sets of books, keep records of accounts, verify the procedures used for recording financial transactions, and provide personal bookkeeping services. They are employed throughout the private and public sectors, or they may be self-employed.”

Sounds simple enough, right? The real questions are, what do those duties entail? What can they do for your business? What is their work like? Keep on reading if you’d like those questions answered!

As an entrepreneur, I’m always looking for ways to make my life easier/better. Automation, learning, time, etc. Any of these kinds of gifts bring value to my life immensely. I’m not one for ‘things’ but rather intangible goodies. However, you might spot a few things on my list and it’s only because it either makes my life easier or has a clear function (bonus if it does more than one thing!).

Let’s be honest, keeping your books organized is hard! When running an entire business, keeping on top of your bookkeeping seems impossible. Keeping your books all neat and organized is the last thing on your mind. Even so, you need to keep it organized.

So, what can you do about it? Well, here are some tips and tricks that just might be the solution to helping you to keep your books organized.

Chart of Accounts helps you stay organized and prepares you for taxes. The CRA requires that you keep records plus tracking your revenue and expenses assists with business decisions. Get a free Chart of Accounts Template at the bottom of this post!