Blog Posts

  • ONLINE SALES? DON’T FORGET SALES TAX!

    Thinking of opening an online shop in 2024? Don’t forget sales tax! Selling to customers located in different Canadian jurisdictions (provinces and territories), may require that you register for and/or collect and remit a regional sales tax (a separate process from GST registration).  British Columbia, Manitoba, Quebec, and Saskatchewan all maintain their own sales tax Read more

  • SHIFT TO VALUE FIRST PRICING

    Are you still thinking about ways to “add” value to the products and services to offer your clients and customers? When you are on the buying side, don’t you want value from the start, not as an afterthought or a bonus? What Does “Value First” Look Like from a Business Owner’s Perspective? Educate and Inform Read more

  • Out of Pocket Expenses

    Do your clients reimburse you for expenses you incur to provide a service (such as air travel, car rentals, specific office supplies)? The Canada Revenue Agency recognizes these as “out of pocket expenses”. While the amount of the reimbursement is left to be determined by the customer and the seller, there are rules around any Read more

  • 3 Reasons Why Your Business Needs Social Purpose

    3 Reasons Why Your Business Needs Social Purpose What is Social Purpose? Social purpose has been described as an “enduring reason for being” that contributes to creating a better world. It has also been defined as “an engine for good” and “creating societal benefits by conducting business”. No one will deny that earning money is Read more

  • Does Your Non -Profit Need an Operating Reserve?

    The life of a non -profit society can be full of drama. The ever-changing requirements of funders, not to mention the sometimes-unpredictable world of donations, can make financial management a very difficult task. In this environment, cash needs to be monitored carefully. Even more importantly, cash needs to be maintained to cover temporary cash shortfalls Read more

  • Reports you Need to Supervise and Evaluate your Bookkeeper

    Bookkeeping work culminates in a final product. That product is a set of reports that you, as a business owner, can use to make decisions, report to your creditors, and fulfill government reporting obligations. Reports should accomplish a number of objectives: Reports to view on a monthly basis (minimum!): Bank, Credit Card, Loan Account Reconciliations Read more