When to Outsource Bookkeeping

Before we talk about when it makes sense to outsource bookkeeping, first let’s talk about small business in general. We know that every small business is unique and comes with very different demands.  However, small businesses do share one thing in common, the need for bookkeeping that is pinpoint accurate. As a small business owner, you should have a tracking system […]

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What is Double Entry Bookkeeping?

Double entry bookkeeping is based on the principal of recording all transactions twice, once as a debit and once as a credit. It serves as a balancing act so to speak as well as an internal checkup.  When working with double entry, many data management systems won’t let you proceed if a matching debit is not recorded, […]

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Avoid ATM Fees: How to and Why

Each week Sum Bookkeeper will feature an articles from around the Net that provides some great insights into how you can better your finances, better your books or generally better your business. This week we bring over a simple, but effective, savings article from Eric Rosenberg over at Narrow Bridge Finance. Eric writes about ATM […]

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Notable Tax Dates for Small Business

Remember, being organized and prepared saves time, money and a little stress. As a side not, those who prepare more than 10 returns must file electronically. This applies to both T1(General Income tax and benefits) and T2(Corporate Income tax) returns.   February 28, 2013 -Employers due date for filing T4’s, T4A’s and T5 slips March 1, […]

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BC PST and your Small Business

BC PST. Say that six times fast. We bet you can’t. But any ways, BC PST is a term you may have heard thrown around a lot as of late. What does it mean though? Well in a nutshell, the province of  British Columbia is reverting back to Provincial Sales Tax (PST) from HST, which […]

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