Tag: Bookkeeping

Canada Emergency Wage Subsidy (CEWS)

crop payroll clerk counting money while sitting at table

What the changes are: Calculation details for claim periods 11 to 13 are now available. January 2021 changes: Changes to CEWS as of January 6, 2021: details for claim periods 11 to 13 (December 20, 2020, to March 13, 2021): the maximum top-up subsidy… Continue Reading “Canada Emergency Wage Subsidy (CEWS)”

“Sole Proprietorship vs Incorporation” – Planning your business strategy

Should you incorporate your small business? (Sole proprietorship, partnership etc) Jumping from Sole Proprietorship to Corporation in Canada? We’ll break it down step by step. Earning side income or owning a small business can be a very rewarding experience, both emotionally and financially. The… Continue Reading ““Sole Proprietorship vs Incorporation” – Planning your business strategy”

Should you incorporate your small business?

When a business is started, it can be structured as a proprietorship, partnership, or corporation. Proprietorship A sole proprietorship is one person operating a business, without forming a corporation.  The income of the business is then taxed in the hands of the owner (the proprietor), at personal… Continue Reading “Should you incorporate your small business?”

Bookkeeping Basics

Most people probably think of bookkeeping and accounting as the same thing, but bookkeeping is really one function of accounting, while accounting encompasses many functions involved in managing the financial affairs of a business. Accountants prepare reports based, in part, on the work of… Continue Reading “Bookkeeping Basics”

What Bookkeeping Tasks Need to be Done + When

Weekly 1. Check Bank Balances It’s a good idea to always be aware of your bank balances. You’ll know if you are getting low or sitting ok. Looking weekly also helps you see trends in your monthly finances. When do you have the most… Continue Reading “What Bookkeeping Tasks Need to be Done + When”