As a member of the learning and development industry, I am bombarded with research, insights, event invites, and models almost daily
Planning is simply a process that involves shaping a course of action that is to be done at a later date.
On the list of crucial things that determine if a small scale business will stay relevant or fold up within a short while, money is right on the top.
Ever heard the quote by David Allen, who says “You can do anything, but not everything.”
The Internet has made it very easy for a business to make its goods and services reach more and more people all over the world.
You need billing to be fast and accurate.
Depreciation affects your bottom line, your tax bill, and the value of your business. Those are three good reasons to learn what depreciation is and how it works. Here are the basics.
Debits and credits are one of those fundamental concepts in accounting..
Technology has facilitated all aspects of life
"Positioning" is a term that gets thrown around a lot but can often be confused with other marketing activities.
All entrepreneurs need a parachute.
You understand the phrase, “Time is money” better when you are in the labour market.
Do you know that the wages you pay your employee is not all that your employee costs?
Facebook started in 2005 as a small networking site at Harvard University.
Tax Day is just right around the corner
What is really happening in the life of our small business?
There’s a reason “The Room Where It Happens” is one of Broadway hit Hamilton’s standout songs: the track’s theme -- longing to be included among key decision-makers in the place in which decisions are made -- is timeless.
If it’s going to survive, a startup needs to grow.
Bank feeds are a core component of Xero, giving you an up to date view of your cash position so you know how your business is performing.
As part of the Beautiful Business Talks hosted by Xero at this year’s Accounting Business Expo, I was given the opportunity to present on how accountants and bookkeepers can provide advisory services to their clients.
TIP: All leaders that are good need to focus on days to come. You have to know what's next and how to prepare for it.
Make it a point to look for hidden talent in your teammates. It should be easy to determine who benefits you the most, when you are looking for helpers.
In today’s competitive environment, businesses can survive and thrive when managers or owners implement measures that encourage their employees to share new ideas and innovations to improve the workplace. As a temp administrative assistant, I have observed many innovations that work - and don't work- on the job.
The concept of search engine optimisation (SEO) is literally everywhere. It is so important now, and every webmaster needs its knowledge, so content marketing is as effective as it is supposed to be.
When it comes to businesses and the publicity they involve, losing one customer can cause a chain reaction that makes you lose several other customers; existing and potential.
Ever heard about SSL Certificates?
You probably have.
Benefits have evolved. Once upon a time, “word-of-mouth” adverts was what worked, later on, if you couldn’t get your business to be on the television or radio, you were not dreaming big enough.
Accounts receivable is the money you’re owed by customers. Once you send an invoice (or bill), it becomes part of your accounts receivable – until it’s paid.
For hundreds of years, paper was the gold standard of written communication.
Anything you needed to record or remember, from love letters to receipts, was printed on paper.
China is currently developing a kind of social credit system, not dissimilar to a financial credit system, designed to reward people for doing good deeds and demonstrating honesty and integrity while punishing people for committing untrustworthy acts.
The difference between cash basis and accrual basis accounting comes down to timing. When do you record revenue or expenses?
One of the biggest mistakes made by new business owners is not to engage startup legal services to handle possible issues for their new venture.
When was the last time you stopped to think?
I mean really stopped.
So you didn’t follow the Elon Musk path of creating a computer game at age 12 or cold-calling a corporate banking maven to snag a paying internship? You can still become a compelling, talked-about entrepreneur if you follow a few best practices.
The annual TFSA contribution limit for 2019 will be increased to $6,000 (from $5,500) due to indexation...
If incurring child care costs with a recreational or educational component, consideration may be given to claiming these amounts as a child care expense, up to the maximum allowed amount. That is, an annual amount of $8,000/child under 7, $5,000/child aged 7 to 16 and $11,000 for a disabled child.
Although it may be possible deduct travel amounts against employment income, such amounts are often challenged by CRA.
Be prepared by reviewing protocol and obligations in respect of client information hacks and losses. Quick response can assist in rectifying the integrity of the data and the relationship with the client.
Review whether capital purchases should be accelerated, and whether the accelerated deduction should be claimed given your particular situation
The direct proceeds from the federal carbon tax will be returned to the territory or province of origin.
Employers should budget for higher CPP costs on continual increases over the coming seven years.
Video Ads are more than mere trends on Facebook and far more than a feature that is sure to come and go. If you’ve been active on Facebook, the tendency is to have seen video ads on the site for different brands/companies.
Times have changed. While more users always have their heads bent, busy with their phones; it does not imply that users are busy checking their news feed on Facebook. Instant messaging is the order of the day. Almost every social media app has a corresponding messenger application/option. So does Facebook.
The ecommerce explosion continues, but there's also an element of evolution. To take your ecommerce presence to the next level, take advantage of these emerging trends.
Not everyone loves spring; however, the idea of a spring clean is well-embraced. It allows a house look new and clean. It also prevents the individual and entire family from suffering several diseases that come with having a dirty home.
If your home (which is only accessible to the few people you know) gets a spring clean so easily, your website (which is accessible to thousands of people) deserves a spring clean too
2019 is here! It’s a new year; not just for individuals, but for businesses and corporations alike. This is what makes the beginning of the year a great time to work something new in your business; a time to set goals.
One of the great things about you as Xero users is how openly you reach out with feedback and requests for new features. We take the time to read and understand all feedback we receive. What really stood out to us this time (with around 200 requests coming through last year) was the overwhelming need for bills support in the Xero mobile app.
Remote work is no longer a privilege. It’s become the standard operating mode for at least 50% of the U.S. population. Virtual retreats are no longer attributed solely to progressive startups. Traditional employers are finally on-board and ready to propose a flexible work arrangement higher up the pipeline.
Falls from height (FFH) are the leading causes of serious and fatal injuries for construction workers. Almost all of these injuries and fatalities were preventable. There are many different factors that increase the risk of FFH injuries. Getting a understanding of these issues is key to preventing FFH injuries. As a result of identifying the types of hazards and learning how to safely address these hazards on your current jobs will allow you to get lower rates on General Liability Insurance and Workers Compensation Insurance.
We check our phones about 85 times a day. Chances are, you’re reading this on one right now – or it won’t be long till you check it again. A staggering 70% of internet traffic now comes from mobile devices.
Have you harnessed social listening?
As I peruse trends for 2019, I see a lot about listening on social. And I have to chuckle … how is this trendy or new?!
In any case, if part of your marketing strategy involves social media it should also involve social listening.
Here are four easy ways using listening on social media can inform your marketing strategy.
We’ve just rung in 2019. What can you do to get this new year off to a good start? Here are a dozen ideas. You may not need to implement all of them, so choose the ones that will help you the most—and get going!
In this era where a lot of activities are digital, no individual or organization wants their information lost. People also want to have access to their information; especially at the point of their needs. Therefore, one thing of increasing importance is the issue of accessible data storage.
UX (User Experience) is at the heart of every good design. It’s the difference between your customers groaning in wretched frustration, or grinning with enjoyment; with them shaking a defeated fist at your site and hastily clicking away from it, or completing a satisfying purchase and wanting to return for more.
Ten years ago, the accounting industry looked very different but new technology is evolving. Cloud-based software is becoming more prevalent everywhere you look; accountants have had to adapt their mode of operation. These changes to the industry will create so many opportunities for accountants. Yet, there will also be notable challenges to face with this level of change.
For most of us the internet is an intrinsic part of our lives. We rely on it to get us where we are going, connect us to friends and family and answer all of our questions, no matter how banal. It has also quickly become an integral part of most businesses, enabling them to complete business transactions in mere minutes as well as connect to their customers and a global network.
Effective job scheduling is one of the most important but least understood disciplines of business management.
The cloud – what is it and why is it important? Like the name suggests, the idea of the cloud feels lofty and hard to grasp. Simply put, cloud computing is the practice of using a network hosted on the Internet, or “the cloud,” to store, manage, and process data. This means you won’t have to maintain or own any hosting equipment.
It’s the time of the year when the streets look very beautiful as snowflakes fall on them. Parties are being planned, holiday reservations are being made, families are gathering together, and everyone is preparing for loads of fun.
Contrary to what you've always been told, thinking negatively can very much be a good thing.
Offices used to be essential for most businesses. But mobile technology and new working practices mean that many small businesses don't need any office space. Here's what you need to know about having a mobile office.
When a customer asks you for a quote, they're giving you a golden opportunity. With the right response, you can close the deal quickly and win new business. Here's how to make the most of price quotes.
Business negotiation is a world of contradictions. You’ve got to be firm but flexible open and sharing, but a little cagey. There’s a lot to get your head around. But your state of mind might be the most important thing. Aim for a mutually beneficial outcome, and you’ll find the whole exercise more comfortable. Follow these five tips to prepare for your next negotiation.
Owning a small business is exciting. You get to do what you love, day in, day out. But traditionally, small business accounting isn’t exciting. So how can we change this stereotype and make accounting fun and easy?
Some benefits of social media and content marketing are normally inaccessible for small businesses and startups because:
Cloud computing got you perplexed? You’re not alone. Most of us talk about ‘the cloud’ without even realising what it really means. We’re clearing the air on cloud computing and how it can benefit your small business.
We equate being busy as being virtuous. When we’re maxed out, it feels safe. It must be productive. (Or is it?) It’s a badge of courage, honor or something …
Want to peek into the mind of your ideal customer and find out how they engage with social media video? How they are interacting with brands via video? How are they purchasing?
Take a seat, because in this post we break down exactly how customers are watching social media video and more importantly, how they are purchasing from video.
And it’s all based on data and research, so you can start using this intel now, to get results in your business.
Successful businesses spend that little bit of extra time on record keeping and getting their tax right, including preparing and lodging business activity statements (BAS). Once set up and organised, you’ll save time in the long run.
Construction is unlike any other business. Building projects can last for months or even years – and you might be both an employer and a contractor. So how do you learn the basics of construction accounting?
A few weeks ago, the new shiny iPhone XS entered the market. For all the Apple lovers out there, this might mean being the first to wrap your hands around the irresistibly smooth all-glass design, or finally upgrading your old glitchy iPhone 6 to the new model.
If this is you, I’m guessing you’re focused on the opportunity to start afresh, buy a new case, clear all those apps cluttering your current device, and start playing with its new features. Right?
Email is a notoriously fickle channel. Something as simple as tweaking the subject line can be the difference between an 8 percent or an 80 percent open rate.
The $20,000 instant asset write-off threshold has been extended to 30 June 2019. This means you can continue to claim the cost of new or second-hand assets that are less than the threshold of $20,000.
U.S. Supreme Court decision found that a business with no physical presence in a state may still be required to collect and remit state sales taxes.
A person who earns income while receiving EI benefits can keep $0.50 of their EI benefits for every dollar earned, up to 90% of their previous weekly earnings.
Be cautious when acting as a director or taking responsibility for loans when not directly involved in a corporation’s activities. Failing to take certain actions may result in personal liability for certain corporate tax debts.
The facts of each situation must be considered to determine whether an exception from TOSI is available, and whether remuneration in the form of dividend, salary or both is most appropriate.
A private corporation’s income from a specified investment business (SIB) is not eligible for the active business tax rates (varying from 10% to 31%, depending on a number of factors
During the Christmas holiday season, businesses of many types employ seasonal or casual workers to meet extra demands. Often these workers are hard-working young people who have travelled from overseas, bringing with them their own language and culture. This international melting-pot makes for a fun and productive work environment, although it can also present challenges.
The homepage is the most important page of your business’s website. It is the virtual shop front to your business, providing your customers a first impression of what you have to offer. You only have seconds to grab your customer’s attention so it is key to make sure that they can find what they’re looking for quickly and easily.
Clichés. Can’t live with them, can’t live without them. (See what just happened there—it’s that bad).
The most widespread, just-waiting-to-pop-out-at-you, cliché is a very short one, measuring just three words—time is money.
Too often businesses leave collecting debts at the bottom of the pile. Why? Often there is anxiety and worry around the process, or lack of trust in collection agencies. Sometimes lack of time and understanding of the process.
Over 100 accounting/bookkeeping, marketplace and banking partners across Asia joined us in Brisbane this year to attend Xerocon, the most innovative conference for cloud leaders in Asia, Australia and New Zealand.
There’s literally hundreds of blog posts giving you the 7-10 steps to reduce debtors and improve cashflow. Yet the debtors problem still exists to some extent in the majority of small and medium size enterprises (SMEs) globally.
We no longer need studies to tell us: Smartphones are almost everywhere. Most of the customers coming through your doors have a mobile device with them. And these devices aren’t always shoved in pockets or bags — shoppers are using them while they’re in store too.
Offers for grants worth over $3.5 million will support 7 businesses to help launch their innovative products, processes and services into domestic and international markets.
The funding has been provided from the Accelerating Commercialisation element of the Entrepreneurs’ Programme.
Anticipating future demand is a tough job, wrought with ways you might go wrong. Proper demand forecasting and inventory control can save a company from buying too much or too little of something, which of course avoids expensive overstock scenarios or stockouts.
Consider reviewing terms of worker engagement with a professional. Agreement on Contractor Status Is Not Enough.
Whenever a settlement is being negotiated, ensure there is mutual understanding on the tax treatment to prevent potential nullification.
There are special laws which hold a director personally liable for certain amounts that their corporation fails to deduct, withhold, remit, or pay. Most commonly, these amounts include federal sales tax (GST/HST) and payroll withholdings (income tax, EI and CPP). It does not generally include normal corporate income tax liabilities.
CRA noted that “if insurance agents, realtors, mutual fund salespersons, or other professionals are legally… precluded from assigning their commissions to a corporation, then the commission income must be reported by the individuals, and cannot be reported through a corporation, regardless of the documentation provided”.
Tax time is fast approaching—it’s important to do your homework and know exactly what tax deductions you can claim.
Individuals that receive certain types of income derived from a “related business” will be subject to Tax on Split Income (TOSI) unless an exclusion applies. TOSI is subject to the highest personal tax rate with no benefit of personal credits.
Do I have to check up on a supplier when paying them GST/HST? Yes.
Implement a system for checking GST/HST numbers, especially for major purchases, in CRA’s GST/HST registry...
If the loan was made to earn income and other conditions are met, you may be able to write-off half against your regular income as an allowable business investment loss (ABIL). A recent tax court case shed some light on defining whether the loan was made to earn income...
The legislation to legalize marijuana for non-medical purposes works its way through parliament (Bill C-45 entered the Senate phase on November 27, 2017). Producers, vendors, regulators, enforcement, and potential customers are seriously considering the implications.
Of the approximately 28 million personal tax returns filed for the 2016 year, 58% got refunds. 68% received them by direct deposit. The average refund was $1,735.
CRA stated that they do not consider meals subsidized by the employer to be a taxable benefit provided the employee pays a reasonable charge.
On taxable benefits arising from employer-sponsored, if the cost exceeds $150/person, the entire amount, including the additional cost, is a taxable benefit to the employee.
CRA may request taxpayer information from third-parties...