Streamlining your operations can go a long way to saving you money.
At KWB, we will help you review your day-to-day operations through direct observation and by analyzing your financial information, and will identify areas for savings and tax minimization. We provide services such as budgeting, “what if”scenario planning, cash flow management, and business coaching, that will help you get your business running more efficiently.
Using your year-end statements, as well as other information you provide us throughout the year, we help identify areas in which you can make changes to improve your operations. We can help you determine if you’re spending more than you thought, have room to cut expenses, or what the impact from increasing revenue will be. We make our recommendations based on personal consultations with you, a review of your books, and the use of business modelling tools. This will give you the direction you need to improve your cash flow and profit.
Blog posts about Improving Your Operations
Year End Tax Tips
Review our year end tax tips to discover a number of perfectly valid actions you may still be able to take before the end of the year to cut your taxes and to optimize your wealth management planning.
As tax planning specialists, we can help you decide exactly what to do, when to do it
If you would like to spend less time organizing your records and more time growing your business, you should automate your document retention with Receipt Bank.
Receipt Bank is a website application that extracts key information from your invoices and receipts and publishes it directly into Quickbooks Online (QBO).
Integrates with QBO
Some of the
There are many apps that can be integrated into your Quickbooks Online software in order to provide extra value and Dryrun is one of them.
Forecast cash flow and sales
Dryrun was created right here in Edmonton and is a forecasting tool that will assist you in making better decisions about your business. You
Save Money with a Health Services Plan
Save Money with a Health Plan
How can you save $100’s and maybe $1,000’s in taxes in one simple step? Are you an employee of your own company and do you have significant medical expenses each year of $2,000 or more not covered by a health plan? Then creating a “Private Health Services Plan” (PHSP) as soon as possible could save you big dollars.
Switching to Quickbooks Online (QBO)
Considering making the switch from Desktop (Quickbooks or Sage) or paper to the cloud? (QuickBooks Online (QBO))
If you are currently using the Desktop version of QuickBooks, you need to be aware that QBO is not the same program and doesn’t really look anything like the Desktop product. Don’t let that scare you off
Apprentice Tax Credit
If you have apprentices working for you, then you should be taking advantage of the apprenticeship job creation tax credit. (Apprentice Tax Credit)
An investment tax credit can be claimed on eligible salaries paid to eligible apprentices. The credit is equivalent to 10% of salaries and wages paid to that individual, to a maximum of
We are often asked, “Should I own my vehicle in my company or personally?” The following facts can help us determine the answer to the question of vehicle ownership:
1) How many kms will you drive it for business purposes?
2) How many kms will you drive it for personal purposes?
3) What is
What if you knew the impact of an important decision before you made it? Could you and your business benefit from this “what if” strategic planning?
You would be able to look at the potential outcome and financial impact of business decisions before they are made. At KWB we use software called Profit Driver to
Hubdoc is an automated, central hub for all your financial documents.
It syncs all your documents and their data with QuickBooks Online (QBO). It turns your receipts, bills, and invoices into accurately coded QBO online transactions with key data entered and source documents attached.
The transactions are then auto-matched to the bank feeds for one-click
Plooto is the simplest and most effective way to streamline AP and AR transactions and it works within QuickBooks Online. (QBO)
the only fee is a $1/transaction fee
No banking or other personal information needed.
Records the transaction automatically in QBO.
Easily send and receive payment (an email is all that is required).
TSheets is a website application that is used to track time and help with scheduling. If you’re tired of tracking your time sheets manually, this may be the solution for you!
Regardless of whether you are an employee, management, moving from one job site to another, or work in the same office each day, there
There are many benefits that KWB receives as a member of the Quickbooks ProAdvisor program and can pass along to you. Read about what they are, including some potential cost savings for you.
Would you like to have a KWB staff person work directly on your accounting system at a time that is convenient for you? Or to help you figure out why your accounts aren’t balancing or why your accounting software has crashed? KWB is here to help! Learn more about our remote accounting support.
Controller and CFO Services
Do you think you may need Controller or CFO services? Are you looking for information to help you make good decisions? Are you unsure of what's happening financially in your business?
You need timely, accurate and complete financial information and the people who can figure out what it all means in order to survive
Having good bookkeeping will enable you to make good decisions based on accurate financial information provided to you on a timely basis.
KWB Chartered Accountants offers bookkeeping and similar services. With timely and accurate information we can help you address your issues and make better decisions as a result.
These are definitely tough times, and
Borrowing Best Practices
You may not always understand what your banker is seeing or what they are asking for, but the good news is that both your banker and you want to see the business succeed. Here is more info on the 9 simple things that will help you become a more successful borrower.
Alberta Labour Standards for 2018
It has been 29 years since Alberta Labour Standards were last reviewed and changed. The changes effective in 2018 are as follows:
The minimum wage has already been increased in recent years and is going to have one more increase to $15.00 per hour. This increase comes into effect on October 1
Advance Income Tax Rulings
Advance Income Tax Rulings are written statements providing assurance on the income tax treatment of a specific proposed transaction or transactions that you might be contemplating.
Subject to any disclaimer or qualification stated in the ruling, the ruling is considered binding with respect to the specific taxpayer making the request and the specific proposed transaction
Jobber is a cloud based software solution designed for small and medium sized field service businesses that works with Quickbooks Online (QBO).
It has a number of features that are designed to help you run a better business by helping you manage finances, client requests and a busy team.
Jobber integrates scheduling, quotes, invoices and
Free Quickbooks Online Seminars
KWB is hosting free quickbooks online seminars for our clients to learn more about the benefits of QBO and the apps that it supports.
Upcoming seminars are:
Wednesday October 4th at 11:30 (lunch provided)
Thursday October 19th at 8:30 (coffee and pastries provided)
Friday November 3rd at 11:30 (lunch provided)
Tuesday November 21st at 8:30
Quickbooks Online - Free For Clients of KWB
QuickBooks Online (QBO) is a cloud based version of the traditional QuickBooks desktop accounting software that offers some great features and accessibility not available from the desktop environment. Cloud basically means it resides on and is accessible through the internet.
We like it so much that effective July 1, 2017 we are offering it at
EI, OAS and CPP Rulings
Employment and Social Development Canada (“ESDC”) is responsible for EI, OAS and CPP rulings, not Canada Revenue Agency.
On April 1, 2013, the Social Security Tribunal (“SST”), an independent administrative tribunal operating at arm’s length from ESDC, was introduced to review appeals on EI, OAS and CPP rulings made by the ESDC.
The process to
Employment Insurance For Related People
Employers are required by law to deduct Employment Insurance (EI) premiums from all insurable earnings paid to their employees who are engaged in insurable employment.
If an employer is unsure whether or not an employee is engaged in insurable employment, the employer can request a ruling from the CRA. A letter or completed form
You may not be aware that you or your business are required to remit quarterly or monthly tax instalments to CRA. And it is likely that if the instalments are not made, you will be charged interest and penalties
Goods and services tax instalments
You are required to pay GST instalments if your net tax
Online tools from the CRA and Service Canada
Here are some great tools on the CRA website to help in day to day activities that I personally use.
1) Payroll Deduction Online Calculator
Use the Payroll Deductions Online Calculator (PDOC) to calculate federal, provincial (except for Quebec), and territorial payroll deductions. It will confirm or allow you to calculate the deductions you include
Corporate expenses - What can you deduct?
Often deductible business expenses are overlooked or missed as business owners are unsure whether they are deductible.
A business expense is any cost incurred by the company to generate income. These expenses must be supported by physical documents such as invoices, purchase contracts, sales receipt, etc. If cash is used to purchase items, it is
What will interest rates do in 2015
When it comes to interest rates here in Canada and around the world, the only thing we know is that we don’t know.
For the past 4 years economists around the world have expected interest rates to increase and not go lower.
What we do know is that Stephen Poloz, the Governor of the Bank
Fraud from mobile banking deposits
Technology is constantly evolving and many commercial banks are using the latest technology advances. Some of these include mobile banking, electronic payments and mobile cheque deposits or Mobile Remote Deposit Capture (MRDC).
We have all seen the commercials showing us how easy it is to deposit a cheque by taking a picture of it with
Online Backups - Keeping it simple
Do you know someone who has lost critical and precious information that was stored on their computer?
Are there things on your computer that you don’t want to lose such as financial or business records or personal information like family photos? We live in a digital world and we don’t have hard copies of anything