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It’s important to make sure you’re completely prepared before establishing a business, but understand that things will likely not go as to plan. A business must evolve to deal with changing economics, technology, and society. In-depth market research is vital for any business plan to understand your field and your potential customers better, in addition to doing surveys, conducting focus groups, and analyzing SEO and public data. This needs a generous budget. Before you launch your product or service, you must work on building your brand and establishing a following of customers who are eager ...

Maybe it was an idea that struck you out of nowhere, or perhaps your small business’ inspiration was an idea and plan that was years in the making. Whichever it was, your small business is your baby, and running it successfully is something that is of paramount importance to you. With that being said, there are so many aspects to successfully running your small business that it can make even an experienced entrepreneur’s head spin. It is vital that a business owner has an intimate knowledge and relationship of the inner workings of their company, from local and global supply and demand to mark...

A few years ago Taylor started a little YouTube business start up as a side business and started to post her videos about astrology.  She also had a link from her YouTube channel where she was selling items that was related to the videos. Next thing that she knew, she started to get tons of people following her YouTube channel. This is an area that never gets old. People have been fascinated with fortune telling and cosmic interpretations. She also her social media channel and started to get lots of followers there as well. Her weekend and overnight business took off and she was making wa...

How To Improve Lawyers Bookkeeping And Never Miss Trust Reconciliation Report When it comes to staying on top of the bookkeeping for your law firm, one of the most essential things that can get messy is your trust account reconciliation reports’ deadlines. While you’re focusing on your caseload and clients, the last thing that you’re probably thinking about each and every day is the state of your firm’s accounting. Trust Reconciliation Trust reconciliation reports need to be filed on time every month. Not filing late will save you the headache. These types of headaches are not the ones that yo...

Are you running your own dentistry practice accounting and finding it? Or maybe you’re just finding it hard to keep track of the accounting, budget, expenses, and when all else is said and done taking what little is left as your pay? When it comes to dentistry and dentists who run their own practices in Ottawa, this lack of a ‘profit first system’ is quite common. Being sure that you’re taking care of yourself and your pay first can be backwards thinking to what you’ve been engrained to believe. Especially when it comes to accounting for dentists in Ottawa. We’re taught to think that when ther...

Would you like to look at your financial reports on time? Would you like to have a glace at your profit and loss statements and see ratios? Would you like to see more in-depth reports and receive key performance indicators (PKI) right one time? Would you like a Chartered professional accountant represents you when Canada Revenue Agency (CRA) calls? Or better yet, CRA calls them? Would you like your payroll to be run on schedule, on-time without you having to look for time sheets? Would you like to receive advance tax planning strategies for your dental practice right here in Ottawa? ...

Who is running and managing your business. When you are running and managing a small business, most of the time you may find yourself just insisting on handling every aspect of it. And why not? It’s your baby, your dream and only you have that clear vision for how it will become the success you know it will be. While, yes, this is all true, it is not a mindset that creates a space for your small business to thrive. From insisting on doing the bookkeeping yourself instead of using a cloud accounting service, to packing every box for every order, micromanagement may be running rampant in your sm...

Have you been trying to find new ways to help expand the bottom line for your small business without success? As a small business owner, there’s no doubt that you are always thinking about how to increase your earnings and expand your company’s growth. You’ve undoubtedly had to find new ways to innovate your business to mold to the change in consumer behaviors. There are many ways in which focusing on your bottom line can do just that. Whether it’s the accounting services for small businesses that you use or the way your company’s money is managed, even small adjustments in the pract...

Starting a business can be difficult enough, let alone working to find ways to grow your business and seeing that it succeeds at every turn. There are many obstacles to trip you up along the way, and each of them comes with its own set of challenges. One of those obstacles that likely will need your attention is accounting for your small business.  Utilizing accounting services is one way that you can help your business grow and thrive. Many small business owners when starting out attempt to take on their own accounting and find themselves with their head under water at some point, workin...

We know, you probably aren’t up to speed on all of the business tax credits available. As an entrepreneur, your job is to stay on top of your day to day operations. At Numetrica, our job is to know every tax credit that can benefit your business and save you money. Today, we are writing this blog to let you know there is a specific tax credit out there most companies don’t know about, including you! It’s easy to claim and you just might be eligible. So, what is this special tax credit? We are talking about the SR&ED Tax Credit. In Canada, this is a Scientific Research and Development ...

CORPORATE TAX PREPARATION SERVICES  We know that nobody enjoys handling year-end financial statements or for that matter, anything tax-related. Tax-filing dates stare at you on your calendar, and you know you are going to have to do something about it sooner than later. Fortunately, the superheroes at Numetrica are here to help make this a painless process for you and your business. Our tax pros have this down to a science and are ready to take on your account. Today, we are going to take a look at what your year-end financial statements for your corporate tax return should look like. Wha...

Do you sometimes wonder if you’re actually the owner of your small business or if you are its most underpaid and overworked employee? Are you always finding yourself weeks, if not months, behind on the accounting for your small business? When it comes to small business ownership, you’re not alone on either of these things. There are many small business owners who feel like they’re more employees than entrepreneurs when it comes to the daily operation and management of their business. This often shows up the most when it comes to staying on top of the bookkeeping for your business. Accounting s...

You know better than me that your time as a dentist is far more valuable than any other profession. As a matter of fact, dentists are the highest point in a totem pole of average income.   Accountants come as the 3rd on the list. So based on that rational, any element of your business that can be delegated will make your time more valuable. One these task is bookkeeping and CFO services. Ho do we do this differently and effortlessly? Setup you on on Dropbox to exchange documents and have a secure lace to store files.Setup QuickBooks Online to perform the day to day accounting tasksSe...

Most CPA firms create financial statements for their clients. This blog post tells you how to review financial statements efficiently and effectively. The best way to review the financial statements is to have something to compare to. Two years of data are great to look at plus a 3rd and 4 column one showing the differences between the years and also one to show the difference in percentages.  This is called comparative financial statements For our clients, we would look at big differences that pops out. Once we identify them, we question them, why big differences exist. Keep in mid, we a...

So many businesses struggle to stay a live. Aa a matter of fact 90% of businesses won’t make it to year 10. 50% won’t even make it 2 year 2. Wouldn’t that be great to learn to be profitable from day 1 of your business?Of course, it would. I’ll teach it to you. So, What Are The 7 strategies to increase profits? 1. Increase the number of transactions 2. Increase the number of your clients 3. Increase your price 4. Increase the frequency of transactions 5. Implement the pareto law 80/20 6. Implement highest and best use strategy   7. Remove 20% from your sales Here are the 7 profit making st...

You have probably heard, work on your business not in your business. So, what does work on your business mean? In a nutshell, manage your business rather than getting involved in day to Operations. Why should you work on your business? Because you should work on growing your business. Businesses that are not growing, naturally would die off. These are key element of working on your business. Highest and best use of your time and activity: Find out what you are good at and what is its cost. For this exercise, create a framework or a table. Create 4 headings: CompetencyPassionRelevancyCosts Writ...

Virtual CFO services for your small business are growing faster than ever during COVID-19. The need to maintain and manage growth of your company while innovating your services and revenue streams is more important than ever now. Have you found your small business has come to a bit of a crossroads when it comes to hitting your financial goals? Maybe you’ve heard of something called a virtual CFO, or virtual chief financial officer, and are wondering what that even looks like for your business? Does hiring a virtual CFO have any benefits to the growth of your business? Or would the sheer cost a...