Accounting

Best Tax Software in Canada There are a handful of tax software options available to help Canadians fill out their returns with speed and accuracy. Check out which one fits your needs and situations in our complete and comprehensive guide. By RICHARD C. FORD The annual tax deadline is one of the most stressful times […]

12 Best Tax Software in The US When the dreaded deadline looms closer, the best choice is to use tax software to ease up the tax filing process. Tax filing preparations can be both tedious and complicated if one doesn’t know exactly how it works.  By RICHARD C. FORD Tax filing preparations can be both

How to Do Accounting for Real Estate Business Whether you’re handling your accounting in-house or hiring an accounting firm to take care of this critical work, you should be up to date on the best real estate accounting practices and understand just how important they are for the future of your realty business. By RICHARD

How to Do Accounting for Contractors and Construction Businesses As a contractor or construction professional, you know what to do on the job site. But do you have the same expertise with the accounting ledger? It’s natural to feel nervous and overwhelmed with all the financial aspects of running a construction business. After all, you’re

What Are Operating Expenses? Every company has a section of the income statement dedicated to “operating expenses.” These costs are critical to a business’s long-term survival and success. For a business to generate profits, it needs to invest money into its employees, marketing programs, products, and services. By RICHARD C. FORD Every company has a

Budgeting vs. Forecasting: What’s the Difference between the Two? By RICHARD C. FORD Budgeting and forecasting are critical in planning for the future of a business. While the concepts are used interchangeably, they have striking differences.  Simply put, forecasting provides the bigger picture regarding what the company wants to achieve in the future.  Conversely, budgeting

Why is Accounting Important? Accounting is essential for businesses because it helps the owners, investors, managers, and stakeholders keep track of the income, cash flow, assets, and liabilities of the company.  By RICHARD C. FORD Accounting is essential for businesses because it helps the owners, investors, managers, and stakeholders keep track of the income, cash

How to Calculate Profit Margin As a small business owner in Canada, it is important to know the amount of profit your company is bringing in. You may want to know how to mark up certain products to bring in revenue, but profit margins can help give you a better idea of how profitable your

How to Calculate Net Income Calculating net income is a necessary task, whether you’re figuring out your personal budget or trying to determine the health of your company. Calculating net income involves simple math, but it can become rather confusing when looking at the different terms necessary to do your calculations. By RICHARD C. FORD

Bank Reconciliations: Everything You Need to Know With so many people falling victim to bank fraud, it’s time to talk about bank reconciliation. Knowing how much money is in your bank account can help you stop overdrawing your account and help you build your balance. By RICHARD C. FORD With so many people falling victim