Executive Phishing: What Expert Online Bookkeepers Want You to Know
Defrauding small business owners through email scams is big business for cybercriminals. Phishing tactics targeting company leaders and executives are on the rise and costing small business owners in Canada millions of dollars. Unfortunately, criminals’ executive phishing strategies are increasingly sophisticated and often go undetected. For instance, seven Calgary businesses recently reported losing a combined […]
What Does A Bookkeeper Do?
Businesses of every size, from every industry, and in every part of the world will always have one thing in common: they have to keep track of their incoming and outgoing money. This is a necessary aspect of operating a business because it’s how a company knows if it’s generating profits or losing money. To […]
Payroll Remittance Basics in Canada: Deductions, Deadlines & More!
In Canada, employers are required by the government to help them with the collection of federal and provincial income taxes. All employers must deduct certain taxes directly from their employee’s pay and remit those funds to the Canadian Revenue Agency (CRA). This process is known as payroll remittance. Payroll remittance can be tedious and time-consuming. […]
Best Online Bookkeeping Services for Professional Services Firms
In the professional services industry, good bookkeeping practices are essential for the business to be successful and profitable. However, many business owners in this industry aren’t equipped with enough time or specialized skillset to run their books properly. This approach can lead to problems affecting all facets of the business, such as invoicing errors, payroll […]
Tips for Navigating Canada’s Emergency Wage Subsidy
Originally published in November 2020, updated June 2021 When the coronavirus pandemic hit Canada in early 2020, it was nearly impossible to fathom the toll it would take on Canadian businesses. At Source Online Bookkeeping, it has been difficult to see how COVID-19 has impacted our small business community. However, since the introduction of Canada’s […]
6 Small Business Accounting Tips that Save Time and Money
Owning and operating a small business in BC is demanding. It’s an enormous responsibility that requires new business owners to take on multiple roles in the workplace. This approach is a great way to save money as you nurture every aspect of a growing venture. However, when it comes to developing a robust accounting strategy, […]
4 Effective Holiday Cash Flow Management Tips for Small Business Owners
The rush of the holiday shopping season is upon us! For many small business owners, this often means flaws in their cash flow management system become exposed. Paid staff holidays, slower productivity, and delays in clearing outstanding invoices are standard during the year’s final weeks. And these common occurrences can leave a business with smaller […]
3 Top Tips for Choosing the Right Victoria, BC, Bookkeeping Firm
Is your Victoria, BC business looking to add qualified bookkeeping professionals to your team? Maybe you’re not exactly sure what you need from an accounting firm but, you know you need help organizing your books. Whatever the reason for seeking bookkeeping support for your Vancouver Island based business, you’ve come to the right place. In […]
5 Benefits of Online Bookkeeping Services for Small Businesses
Small business owners know that running a successful business requires support from a team of reliable and knowledgeable professionals. Many top business owners will tell you that parsing out key operational services, such as bookkeeping services, is the smartest move a small business owner can make. When searching for a bookkeeping firm to oversee your […]