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Separate Business Accounts

A separate business bank account is the first step towards a healthy cash flow Over 70% of businesses fail within their first year due to cash flow problems How can you ensure that your business develops and maintains a healthy cash flow? There is a need to be aware of the dangers that can pose … Continue reading Separate Business Accounts

The Accounting Equation

In a double-entry system, for every debit entry there must be a credit entry and vice versa. This leads us to the basic accounting equation: Assets = Liabilities + Owners’ Equity The above equation shows how assets are financed: either by borrowing money from someone (liabilities) or by paying your own money (owner’s equity). The … Continue reading The Accounting Equation

Careful Attention to Your Bookkeeping is an Important Key to Your Business Success

Are your GST/HST and PST remittances filed on time, saving you money by not paying penalties and fines? TAP Bookkeeping can help. Are your payroll remittances and T4’s filed correctly and on time? TAP Bookkeeping can help. At tax filing time do you have an idea whether your business has made money or not? TAP … Continue reading Careful Attention to Your Bookkeeping is an Important Key to Your Business Success