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Numetrica Has Recruited 3 more Superheroes! Since the born of Captain Number Cruncher. There has been some improvements in the world of numbers. More and more heroes are joining the crusade to bring orders and balance to numbers and businesses. As a result, 3 more superheroes have been recruited. The Payrollist: Expert is the art of Payroll, using either Quickbooks Online or Wagepoint, she can organized a bullet proof payroll system. This means source deductions are always submitted on time. Canada Revenue Agency will receive the funds automatically from Wagepoint. Employees will receive their...

Cloud accounting and business apps empower businesses and put more control and insights in their hands QuickBooks Online (QBO) This app will empower you to run your business even better, save time, your money, and your business. According to Intuit, Over 98% of customers agree that QuickBooks helps them run their business more easily. Benefits 1.   Instant backup 2.   Access to data from anywhere any time 3.   Instant score card and reports 4.   Collaborate with partners 5.   Improve cashflow 6.   Receipt Management 7.  ...

Running a small business is no easy feat by any means. It requires daily effort, vision, and drive, among many other things. But one area where the mastery of small business finds most owners caught between a rock and a hard place is in the financial management of their operations. This area can affect every other facet of their business and make any normal person mad. There are so many things to think about, let alone to manage. Do I hire an accounting services firm to help? Which cloud accounting software is the best for the needs of my business? And that’s not all you need to be t...

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...

Eleven Tax Deductions Every Startup Should Know About Specially The Initial Investments It is extremely important for start-ups, entrepreneurs and even business pros to keep track of their business expenses. These expenses will reduce your taxes when it comes to file your personal tax returns (t1) or corporate tax returns (T2).  When tax season starts the deductions will help and forms your strategic plans to perform tax planning, maximize tax deductions and minimize tax owing. So here are some categories that already exist. All you must do is take advantage of any or all of the following...

 As a business owner, you’re used to taking on many different roles. When you first start a business, it’s not uncommon to be working all hours of the day and night and doing pretty much everything yourself. As the business grows, you can finally begin to hire employees to help you keep up. It’s every entrepreneur’s dream to have a flourishing business with a busy staff. But do you find yourself still wearing too many different hats? There are some hats a business owner shouldn’t have to put on. Being a CFO is one of them. Are you your own company’s Chief Financial Officer? If you find yo...

Let’s face it, hearing the word audit makes everyone nervous, scared, anxious, … however, all the audit is asking for is proving evidence/documents to substantiate your expenses and claims. We helped a client one time with his audit, one of the disputes with CRA was that they wanted to see the receipt. The client did not have the receipt for his phone bill since he made the payment with his bank account and throw the receipt in the garbage. The client and our defense were, look the bank clearly says Bell Canada $XXX. CRA disallowed it and said where is the receipt. I know! ☹ Lesson learne...

In a nutshell, cloud accounting provides time, delivers supports, focus business resulting in more sales. Cloud accounting provides time needed to better focus on business. Cloud accounting can provide the edge or the time that you need to focus on your business and blasts your sales. If you are looking for the most effective way to process your business financial transactions, you ought to be using cloud accounting system. The cloud is basically a term for using online/internet tools. I think cloud accounting is one of the best practical tools for processing and storing data. Information...

What is Cloud Accounting and what it means to your business  Cloud accounting meaning for your business. Cloud accounting software works exactly just like the traditional accounting software, only the cloud accounting software just like QuickBooks online is hosted on remote servers of QBO Transaction data is in “the cloud,” where it is processed and returned to the user. All application functions are performed off-site, not on the user’s desktop. Which enables you to use the platform from any devise as long as you can log in to QBO. In cloud accounting, users access software applications ...

When connecting your bank to Receipt Bank (RB), RB will “Fetch” the bank statements.  What it means is that it will grab the Bank Statements in PDF format. This will save you time, since as business owner you have to either log in to your bank and save them in Dropbox so we can perform the bank reconciliation. Or you’ll have to have to wait for the mail to come and either save the bank statements in Dropbox or physically getting them to us. So the bank Fetch makes it automatic and systematic as bank statements become available. We will show you a step by step process to make this automati...

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...

Are you finding it difficult to get time to sit in front of the one computer that can handle the accounting for your small business? Overrun with licensing costs for your accounting services software every month? You’re not alone in this, but you are able to do something about it and stop being held hostage by your traditional accounting system. Cloud accounting has been quickly overtaking the traditional accounting services for small businesses in recent years. Small business owners are finding the many benefits of it versus traditional accounting systems allow them to focus more on...

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...

Real estate agents are now to allowed to create their Personal Real Estate Corporation (PREC) in Ontario  Following reason are why you should take advantage of this long overdue privilege. Tax deferrals: The earning that corporation makes is subject to its own tax rates. These tax rates are less than highest marginal tax rates of let’s say 50%. Normally the highest marginal tax rates kick in at $100,000, this means any income above that threshold would be taxes at 50%. Now let’s assume you made $200,000 as a non-incorporated real estate agent, your tax in excess of the $100,000 is %50,000...

What you need to know about client list I have a few clients who buy either client lists or book of business or even a business. Their question is if these are expenses. Logically, when people pay for stuff, they assume it is an expense. Money left my pocket. In accounting, these are treated differently. The main question is, did we consume this in one year? The answer would be no. For example, if I buy a client list, it will benefit me and provides me with income for a few years so I can expense the portion that did not yield any income. That would be for clients that I paid for but didn’t co...

The financial statements of the company include the profit and loss statement (P&L), balance sheet, and statement of cash flow. The annual statement summarizes revenues, expenses, and benefits for a year. The balance sheet includes assets, debt & equity. The formula is Assets = Liabilities + Owner's Equity Cashflow statement and summarizes cash inflows and outflows. The presentation of the financial statements are important as well. Elements that leads to accurate financial statements Consistent bank reconciliation on each bank accounts and even credit card Creating and reviewing bank ...