Fundamentals of Bookkeeping and Accounting Bookkeeping and accounting are essential components of financial management. They involve distinct processes and roles that work together to maintain accurate financial records and provide valuable insights for businesses. Defining Bookkeeping and Accounting Bookkeeping is the process of recording daily financial transactions. It involves tracking income, expenses, and other monetary […]
Professional bookkeeping is vital for businesses in Terrace, British Columbia. It helps companies stay on top of their finances and make smart decisions. We know that good bookkeeping can make or break a small business. Proper bookkeeping ensures accurate financial records, which are crucial for tax compliance and business planning in Terrace. Small businesses benefit from […]
As bookkeepers in Terrace, we’ve been keeping a close eye on the new trust reporting rules from the Canada Revenue Agency (CRA). These changes will affect many of our clients who deal with trusts.The CRA has updated the T3 Trust Income Tax and Information Return. Starting in 2024, trusts will need to provide more details about […]
Tax preparers play a vital role in helping people and businesses manage their taxes. We know taxes can be confusing and stressful for many. That’s why tax preparers step in to make the process smoother. Tax preparers gather financial information, calculate taxes owed, and file returns for their clients. They work with individuals and companies to […]