A business in Ontario can choose to incorporate federally or provincially. This article compares the difference between federal incorporation and Ontario incorporation.
When you receive payments from your customers, you will deposit the money into your business account. It is a good habit to prepare a deposit slip whether your bank requires it or not.
Minimum wage is the lowest wage rate an employer can pay an employee. To help bookkeepers and business owners, we list the Ontario minimum wage rates in the following table:
Our client is a wholesaler. The business had been operating for three years and it was still struggling to make ends meet. The profit was up and down. Cash flow was hard to predict. The business appeared risky and unstable. These problems had been keeping the owner up at night.
Cost management is crucial to your business profit. Effective cost control starts from your understanding of cost behaviour - how a specific cost behaves in response to the change in the level of your business activities. Does it rise, fall, or remain constant as sales rise or fall? If a particular cost is expected to change, by how much will it change? To answer these questions, you must understand the difference between fixed costs and variable costs, the two main categories of costs based on cost behaviour.
Budgeting is critical for a business. It is the roadmap that shows you where you want your business to go. Without a budget, your business is running in no clear direction and the success of your business would largely depend on your luck.
Although you don't need to be an accountant to be a small business owner, your business will have a much better chance to survive and thrive in this challenging business world if you have the basic accounting skills to analyze your business results.
In your quest to find the best accounting software for your business, you may find yourself in a dilemma to choose between the two most popular software: QuickBooks or Simply Accounting. Here is a detailed table of the pros and cons between both Simply Accounting Pro 2010 and QuickBooks Pro 2010.
In your quest to find the best accounting software for your business, you may find yourself in a dilemma to choose between the two most popular software: QuickBooks or Simply Accounting. Here is a detailed table of the pros and cons between both Simply Accounting Pro 2010 and QuickBooks Pro 2010.
