Accounting & Bookkeeping

Mistakes happen. However, there are some lessons that are much better taught than experienced. Payroll is one of those. Payroll errors add up, literally. They aren’t just annoying or embarrassing, a wrong keystroke can carry heavy consequences for your business. It could mean wasted hours and resources to fix the problem — or worse, legal […]

Did you know that cloud-based accounting practices are nearly twice as likely to experience revenue growth? In fact, a staggering 74% of practices using cloud-based accounting solutions reported an increase in revenue. Technology is more than a convenience, it’s a catalyst for growth. In our recent webinar, “How Technology Fuels the Success of Bookkeeping and […]

Advances in technology have transformed every industry, and payroll is no exception. Artificial Intelligence (AI), machine learning, and automation have revolutionized payroll processing, but one thing remains unchanged — human expertise is irreplaceable.  Adopting payroll automation isn’t just about using new tools; it’s about evolving your role. By embracing technology, bookkeepers and accountants can move […]

Payroll is often seen as an add-on service for bookkeepers and accountants, secondary to their core work. However, it can be a powerful service for growing your business, especially when serving small businesses. After all, small businesses make up 46.8% of private sector employment in Canada — that’s over 5.7 million people relying on payroll. […]

For many small businesses, payroll year-end is the ultimate test of endurance — a high-stakes challenge where mounting deadlines, complex regulations, and the risk of costly penalties converge. It’s no wonder so many business owners dread this time of year. The stress can feel overwhelming, like battling a relentless force of Kryptonite. But this is […]

The Wagepoint 2023 Canada Small Business Payroll Calendar gives you a year-long overview of key small business payroll deadlines so you can focus on running your business without worrying about missing important dates.

For small business owners, administrative tasks can consume as many as 120 working days per year. This is why bookkeepers and accountants are essential partners for any business, large or small.   But as any professional bookkeeper or accountant knows, bookkeeping is a labor-intensive job. This is why automated bookkeeping offers a highly effective solution to […]

With the right approach, switching payroll companies can be painless — and even beneficial for your business and employees alike. When you’re already juggling multiple responsibilities, changing a key business tool can feel like more hassle than it’s worth. Especially when it comes to something as sensitive as your payroll. The last thing you want […]

The best bookkeeping apps offer a fantastic and versatile way for bookkeepers to streamline tasks when working with small business clients. If you’re in your due diligence phase, trying to find the best options, you’ll find that most advice and articles on the market focus on big players like QuickBooks Online or Sage.  While these […]

Clients look to their bookkeeper or bookkeeping firm as their guiding light when it comes to payroll and paying their employees. No surprise then that as a bookkeeping firm owner, we do a lot of payroll. Meaning I needed to find the right payroll software. And my goal was to find a payroll software that […]

Cybersecurity is not something accounting professionals should skip out on or take lightly.   As financial guardians, you’re trusted with sensitive client information. Unfortunately, this makes you prime targets for cybercriminals looking for financial gain through data theft or ransomware attacks. And don’t be fooled — the threat is real. In 2021, a staggering 60% of […]

Payroll automation systems are the superhero many finance teams don’t realize they need. Imagine you could recycle all those time-consuming hours spent sweating over intricate spreadsheets, panicking over whether your formulas are up to date and if you’ve remembered to account for tax. Picture yourself getting it all done within a few button clicks, confident […]

When I first started my bookkeeping business, I was using about ten different software for bookkeeping, payroll and organization. Not to mention programs for email, HR and other administrative tasks. Oof. Thinking about it gives me a headache!  I knew I had to simplify things — not just for myself, but for my clients as […]

As exciting as bonus payouts can be for your employees, for most of them, it’s a bittersweet payment because of the amount that is paid out in taxes. While those concerns are valid, they are slightly exaggerated. Canada Pension (CPP) and Employment Insurance (EI) are mandatory deductions on a bonus payment with one exception — […]

When it comes to protecting your personal and business information, there are a number of approaches to get the job done. For example, simple solutions like updating your password to be more complex or reviewing payroll reports can help you prevent fraud and catch suspicious activity on your account before it’s too late. At Wagepoint, […]