by Peter McCarroll | Mar 30, 2020 | 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,... by Peter McCarroll | Jan 3, 2020 | Bookkeeping, 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... 
by Peter McCarroll | Mar 30, 2017 | Business, Bookkeeping
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... by Peter McCarroll | Jan 28, 2016 | Xero, Bookkeeping
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... 
by Peter McCarroll | Jul 29, 2015 | Bookkeeping
One of the allures of cloud accounting is that it makes keeping your accounting records more accessible. Entering payables, managing receivables and reconciling your bank account are now effortless. It does make you wonder whether you even need an accountant or... 
by Peter McCarroll | May 25, 2015 | Bookkeeping
Running a social media strategy as well as being a business owner will only lead to stress and sleepless nights. But everyone is on social media, right? Even the Pope. You need to strike the balance between informative and annoying. Studies show the optimal postings...