5 Ways to Save Money for your Business

Bookkeping services

5 Ways to Save Money for your Business Looking for simple ways to cut costs? These tips will help you make a noticeable difference to your bottom line.1. Reduce staff costs Without a doubt, having someone to help deal with routine tasks can greatly improve productivity. The rub is that hired help is often too … Read more

Small Business Accounting Challenges

Small businesses have specific challenges and needs that are very different from larger more established companies.  Budget is typically a concern as small businesses and startups work to get their revenue streams established.  There is an additional challenge addressing the technical aspects of dealing with CRA – something many small business are just not able … Read more

Why use a virtual accountant?

No need to find parking, child care or even leave your house.  With the technology that currently exists you can meet your accountant right at home using tools like Zoom.

An accountant that is Virtual (Operates in the Cloud) is more likely to stay up to date with technology and be better able to take care of you and your unique business.

Virtual Accountants are also paperless accountants.  That’s good for the environment, good for you and great for the budget.  Some documents like tax returns can require up to 75 pages of paper.  For EACH tax return.  That’s a lot of paper for a document you aren’t likely to read.  You also get to keep your original documents and you don’t have to worry about losing documents that your accountant gives you.

Tools like QuickBooks online and Xero are more likely to be used by Virtual accountants. Why is that important?  Online accounting tools are able to get you better and more timely information.  No more tracking your income separately on a spreadsheet because it take 3 months to get the bookkeeping done.  Tools like automatic bank and payment feeds means that your information is current.  Finally giving you the tools to actually run your business!

You can still contact your accountant when you are travelling on business because it doesn’t matter anymore where you are.  You can contact when you are on vacation too, but why would you want to?

Curious about Virtual Accounting and what it can do for you?  Contact Michelle @ info@dufordcpa.ca we discuss how this can work for you and your business.

Using Online Accounting Systems

So you have decided to take your accounting online.  You are always on the go and it makes life easy for you.  Here are some things for you to consider. 1. Some online systems are not as robust as the desktop.  Wave for example doesn’t let you put in a closing date, so it’s easy … Read more

Why is bookkeeping important?

One of the concerns I hear on a regular basis is regarding bookkeeping.  Why do I need it and why is it expensive and can I do anything to reduce my costs? This article covers bookkeeping for corporations; bookkeeping for sole-proprietors may or may not need to be as rigorous depending on your situation.  To … Read more

Why online bookkeeping ?

Here are some reasons why going online might make sense for you. No need to find parking, child care or even leave your house.  With the technology that currently exists you can meet your bookkeeper right at home using tools like Zoom or Google Hangouts. A bookkeeper that is Virtual (Operates in the Cloud) is … Read more

Why online bookkeeping ?

Here are some reasons why going online might make sense for you. No need to find parking, child care or even leave your house.  With the technology that currently exists you can meet your bookkeeper right at home using tools like Zoom or Google Hangouts. A bookkeeper that is Virtual (Operates in the Cloud) is … Read more

Can I have tax free income?

There are a surprising number of kinds of income that are not subject to tax under the Income Tax Act.  Here are some examples: Strike pay from a union. (Supreme Court of Canada, 1990 decision in Fries) A union’s cash gift to a member is also usually tax-free. Damages or compensation for personal injury, including … Read more