Here are the top 10 accounting tips that every new entrepreneur should know before beginning their business. Whether you have just opened the online store after years of preparation or you have jumped into wearing the entrepreneur hat, this is a must-read.
We all know how crucial yet exhausting it is to file taxes each year on time. No one wants to do it!
Bookkeeping is often seen as tedious and boring. Most entrepreneurs do not enjoy bookkeeping but know it is an essential part of their business. Adopting some good bookkeeping habits can help your business in the long run.
There are some mistakes that entrepreneurs make when they project the future of their company with financial outlook. These types of mistakes can create confusion and mislead investors but worst of all they can delude the entrepreneurs themselves.
Cash flow is the incoming and outgoing cash from any business and is representative of the operating activities of the company. Every entrepreneur and small business owner instinctively knows that cash flow management is very important to keeping their business successful. Many startups fail because they don’t have a healthy cash flow.
The Canadian marijuana industry is one that is currently booming and hence receiving global attention. However, according to accounting experts, the industry has many accounting issues that its companies are not efficiently combating.
The role of an accountant has evolved over the years, a couple of decades ago they would only be seen during tax season and disappear after that. Now businesses in Toronto and across Canada, both small and medium, look for much more in an accountant or a bookkeeping company.