We are now only a month away from Christmas and it’s important to start preparing your business for the year end. Having a process in place along with checklists will help your business be organized and ready for the new year. Here are some tips: Forms: At the year-end you should be reconciling your payroll amounts. This means adding up Employment Insurance, Canada Pension … Read more
Payroll remittances are mandatory payroll deductions on your employee’s income that are sent to the CRA. It is your responsibility to remit the CPP contributions, EI premiums, and income tax (this is on top of your share of CPP contributions and EI premiums). Not doing this, can result in penalties and being late is not preferred either. Here are some useful tips: How often? … Read more
Payroll can be complicated for a lot of new business owners as it requires you to be well versed in a variety of areas such as law, technology, accounting, and more. Having a professional consultant who is experienced can help you organize your business, help you stay compliant and on point with your employees. Here are some useful tips: Be on top of your … Read more
Virtual bookkeeping can ensure your day-to-day transactions are properly recorded, your bills and invoices are paid, keep track of your taxes and reconcile your bank statements.
If you started a new business this year, congratulations! Here are some best practices for new business owner
Need for remote employees The pandemic has shaken up the traditional workplace arrangements and more people are now considering remote jobs. This means as employers you also have to adjust and explore the possibility of having employees that are not physically located at your company. Remote employees bring changes to payroll and taxes. Here is a quick guide on what you need to think … Read more
If you are a new business owner or even an experience done, you know that bookkeeping is something that is a necessity for your business. Although everyone is aware that record keeping and organizing is important, most business owners do procrastinate with their books due to other priorities. So what is the best way to tackle this? Here is a quick checklist to follow: … Read more
Piligrim Accounting is happy to announce the launch of our newly designed website. We hired the team at Click Tie to help us with the new website design and they did a great job. They are familiar with website design for service businesses and were able to guide us in preparing the right text and picture to describe our services. We are always improving … Read more
To prevent fraud in your small business, make sure from the beginning that more than one person handles all your essential bookkeeping and accounting functions. No matter how busy you are as an owner, if your company is just you and one other person, you need to have in place protocols from the start that protect you and your firm. In an earlier article, … Read more
One out of every five small businesses in Canada will be victimized by fraud this year, costing them on average a loss of $6,200, according to the Canadian Federation of Independent Businesses. I have often heard their stories and seen what happened to them since many decide to outsource their accounting services after they have been impacted negatively by someone they thought they could … Read more
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