Maintaining a steady cash flow is essential for any business to survive, start to grow, and eventually prosper. Even after turning a profit, it’s vital to keep their books in order to scale up and ensure that they can plan effectively to meet their tax liability.

For those operating businesses, whether a budding startup or established one, bookkeeping is an important aspect. The reason why it is vital to any business is the process of bookkeeping makes budgeting easier. With your income and expenses properly organized, it’s simple to review your financial resources and costs. Therefore, it makes sense to work with a bookkeeper to help you be financially organized and make smart decisions for your business.

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Bookkeeping is crucial to keeping your business organized. It helps in creating accurate budgets, provides information to make strategic decisions, tax return preparation, keeps

Here is the snapshot – Have a question? Want to know more? Email us at info@cidbookkeeping.ca or call us at (905) 242 5333

The new program that begins with period 17. Canada

BUSINESS PURPOSE

GRA Mileage Rate Canada Automobile Allowance Rate

The Canada Revenue Agency allows residents to deduct business m

No matter the accounting method you use to record entries, all transaction entries are formulated using the double-entry accounting concept. This means that every transaction will

What is Equity?

Equity typically referred as shareholders' equity (for corporations) or owner’s equity (for sole proprietorships).

CRA’s website provides a great free calculator which can be used to estimate gross pay, deductions and net pay for your employees or yourself. This tool is very effective