Category: Bookkeeping

Everything You Wanted to Know About Bookkeeping

According to Wikipedia, bookkeeping is “the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. “Simply put,...

Best Practices for using Xero

We have lots of clients who do their own bookkeeping in Xero.  Here are our Best Practices for managing your own bookkeeping: Keep your personal transactions out of the business bank account.  If you need to spend on something personal transfer funds to your personal...
Starting a Business?

Starting a Business?

Wonderful – welcome to the excitement of owning your own business.If you’re still in the early stages of starting a business here are some things you might want to do early: Incorporate a Company There are several advantages of trading as a Corporation...

What documents should I keep?

You need to retain sufficient documentation to substantiate your claim to an expense deduction and GST Input Tax Credit.  The requirements are slightly stricter for something that includes GST (Note: GST refers equally to GST, HST and QST – we’ve...
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