A customer sends your business a $20,000 deposit today for work you will complete three months from now. Your bank balance increases by $20,000. Did your business just earn $20,000 of revenue? Not necessarily. This is one of the most common accounting mistakes made by growing Canadian businesses. Cash arrives, the bookkeeper records it as...

Your business is growing. Sales have increased. More customers are paying invoices. Revenue finally moves past $30,000. That sounds like good news. But for many Canadian business owners, crossing $30,000 creates a tax obligation they do not notice until months later. The problem usually starts with a misunderstanding: “I only need to register for GST/HST...