(ERP) Enterprise Resource Planning System – Everybody Has One Right?

What is an enterprise resource planning system (ERP), and do you really need one? Are you looking to grow as a company and gain a large market share in the process? When running a business, there are so many items on your daily itinerary to look after last thing that is on your mind is a ERP system. It can be overwhelming, keeping in consideration staffing levels, product quality, fulfilling sales orders, keep your supply chain flowing as well as your company's cash flow. The office flow of info...

Capital Budgeting Role In Business

The capital budgeting process is defined as an estimation and risk assessment of cash flows, to arrive at a net present value of retained cash flows and .calculate your return on investment (ROI). What does this mean to you? Well when running a business it is important to understand the process of evaluating future projects / contracts that your company wishes to take on and assess if they might be profitable or not. Are they worth your time, money and attention?               Annual Capital ...

Allowable business expenses for sole proprietors & partnerships

Allowable tax expenses are always a hot topic with our clients and rightfully so they provide a decrease to taxable income. This being said one needs to be careful what is being claimed as an allowable business expense to the CRA – (Canada Revenue Agency). As a general rule, a person may deduct any reasonable current expense that was paid in the course of earning business income. The timeline of the expense is important as it should be pertaining to the current tax year for you business. The ...