Bookkeeping

How to Easily Organize Your Receipts

Organize receipts to more efficiently track expenses and prepare your business for the inevitable CRA tax inquiries. Many strategies can hel

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Bookkeeping

Finished Goods Inventory

Unearth the importance of tracking finished goods inventory, how it differs from other inventory accounts, and how it is reported on your fi

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Bookkeeping

Segregating Online Sales From In-Person Sales

Learn how to separate the financial records for your online and in-person sales, and review reasons why separating records helps with financ

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Bookkeeping

Track Cost of Goods Sold for Your E-commerce Business

Learn what cost of goods sold is and why it is important for e-commerce sellers to track, and read about some tips to measure it.

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Bookkeeping

Track Gross Margin for Your Ecommerce Business

Learn the importance of tracking gross margins, and see why e-commerce business owners should care about this metric.

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Bookkeeping

Account for Deferred Expenses

Defer your expenses until they actually occur to enhance the consistency of your financial statements and your ability to make smarter decis

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Bookkeeping

What is a Prepaid Expense?

Find out what a prepaid expense is and how to record it in your accounting system and claim it in your tax return.

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Bookkeeping

Account for Prepaid Expenses

Enhance your financial statements by recognizing prepaid expenses. Learn the journal entries for setting up a prepaid and how to eventually

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