Canada Payroll vs. US Payroll – What’s The Difference?

record of employees payroll

Remote work positions are the new trend among many small businesses. Since more people than ever before are working from home, it makes sense that your business might want to expand its borders to take advantage of international talent. Whether you’re located in the United States and want to hire a Canadian employee or vice-versa, there are a few differences … Read More

CRA Audits: Everything You Need To Know

canada revenue agency, it's important to file your taxes on time and accurately

We all know about them, but for the most part, they’re shrouded in mystery. CRA audits. Why do tax audits exist? What does it mean if you get audited by the CRA? And what should you do next? In this article, you’ll find the answers to the most common questions about audits. By the end, you’ll have a better understanding … Read More

Guide To Revenue Recognition

reviewing charts on revenue

Understanding your books and coming up with comprehensive financial documents can be a real challenge. One of the areas where business owners are often confused pertains to recognizing their revenue. When do you add the funds to your account and financial picture? Is it when you receive the money or when the goods are delivered?    If you find yourself … Read More

7 Reasons To Outsource Your SaaS Accounting

outsourcing your SaaS

Accounting is a necessary part of any business, but some industries will find that it’s even more complex than they’d initially thought. SaaS businesses will need to consider whether it’s worth the time and money to hire in-house accounting staff or whether they want to outsource this service.    Outsourcing your accounting can be highly beneficial for many reasons, from … Read More

Is Direct Deposit Payroll The Right Choice For Your Business?

direct deposit tracker

Processing payroll is a necessary part of managing your own business, but there are ways that you can make this routine chore a bit more bearable. One way that many companies choose to go about simplifying the process is by enrolling in direct deposit payroll. This method of paying employees can save your business both time and money, as well … Read More

Winnipeg Accounting Firm Offers Service To Assist With CRA Audits

compass accounting header

WINNIPEG, MB: Compass Accounting CPA Ltd., a Winnipeg accounting and tax preparation firm, is offering assistance to those who receive Canada Revenue Agency (CRA) reviews.  Every year, millions of Canadians receive notice that their tax return is being reviewed by the CRA. In 2022, there has been a significant increase in the number of CRA reviews and audits. This is … Read More

7 Bookkeeping Tips For Managed Services Businesses

looking over some paperwork with a bookkeeper

You want your managed IT services business to grow and thrive well into the future. Chances are that you spend a lot of time thinking about how you can improve your bottom line. Keeping good track of your books can give you better insight into the health of your company. It also shows areas for improvement and potential growth.   … Read More

Do Tech Businesses Require Accounting To Be Different?

creating a tech project draft

Most business owners come up against a difficult accounting question at some point in their early days. Tech businesses are no different than those found in other industries, but their need for a specific type of accounting is significantly different. They will need the assistance of accountants who are experienced in this industry.    What must be different about their … Read More

3 Accounting Tips To Run A Profitable Consulting Business

business people having a meeting

Your consulting business has been around for a while, but maybe you feel like there are some new ways to improve efficiency and boost your bottom line. Accounting is one area where many business owners don’t feel equipped to make changes to their business. However, it’s also where the opportunity for the most growth exists.   Fortunately, some of the … Read More

6 KPIs To Track eCommerce Business Growth

this is showing dropping shipping

Tracking the growth of your eCommerce business can be frustrating and challenging if you don’t have the assistance of an accounting department in your corner. Fortunately, there is a handful of KPIs that you can use to track how well your business is doing and spot areas where things can improve.    These key performance indicators require minimal math. However, … Read More