Accounting & Bookkeeping: CA

On January 27, 2021, Ian Vacin, Chief Customer Officer for Karbon, and Rachel Fisch, Strategic Advisor to Wagepoint held a webinar (online discussion) on the topic of “How compliance leads to advisory.” The truth is, you can’t have one without the other. Especially when it comes to small business payroll. As an accountant or bookkeeper, […]

As small businesses that work with accounting professionals are twice as likely to survive than those that don’t, the role of an accountant or bookkeeper is both valuable and multidimensional. The evolution of the digital age has significantly changed the business landscape in the accounting and bookkeeping industries. As the number of new applications increases, […]

Much like the metamorphosis of a butterfly, strong product offerings are likely to have gone through many iterations before reaching its “final form.” The reason? Consumer spending habits and preferences are ever-changing and entrepreneurs understand that business success is contingent on meeting the consumer’s needs. Wagepoint CEO Shrad Rao, recently sat down with Michael Palmer, host […]

In our fast-paced world, sometimes picking up the phone is the best way to ensure proper communication and get a problem resolved for our clients. Although you may not have time for a friendly chat, our friends at the Canada Revenue Agency (CRA) do. Emails are a frequent way to communicate on a timely basis, […]

You want to learn more about taking your practice online. You’re looking for tips on using cloud-based tools and decoding the ever-growing ecosystem of fintech applications. Or, maybe you just want to connect with your fellow humans — your accounting and bookkeeping peers. Even if you’re not a social butterfly or networking master, believe it […]

As you reach the final months of any year, there’s the holiday period. (Insert any number of appropriately timed seasonal cliches here.) However, there’s also the process of closing the books on one year of business finances and planning to smooth out any kinks in the year ahead. For many small businesses, payroll is one […]

Temporary changes to Employment Insurance (EI) to help employees access EI benefits faster. Due to COVID-19 and depending on the benefit type, the following changes are in effect until September 2021 and could apply to your employees: The waiting period may be waived. A minimum unemployment rate of 13.1% applies to all regions across Canada — […]

There is no question that payroll is one of the most important aspects of a construction business that needs to be managed effectively. The sheer size of construction projects, as well as a slew of tax regulations, make construction payroll a complex process. Plus, with a large workforce, payroll can be time-consuming and stressful. A […]

There are many reasons why you might want to change small business payroll providers. Your current solution might not be as automated as you like or you might not be feeling the love from customer support. (We hope that never happens with Wagepoint. If you’re ever feeling “unloved” — let us know cuz that shouldn’t […]

A Social Insurance Number (SIN) is a 9-digit form of identification that every individual residing and/or working in Canada must have in order to access government benefits, file income taxes and, most importantly, get paid. (Through the fate of acronyms, SIN also sounds a bit biblical.) A short timeline of the SIN. 1964 — SINs were […]

Unlike the provincial motto, “Gloriosus et liber” meaning “glorious and free,” there are very few things that are free when you own and/or operate a business in Manitoba. Enter the Health and Post-Secondary Education Tax Levy (HE Levy or HAPSET). What is the HE Levy? According to Information Bulletin HE 002, the HE Levy is a […]

You would think that once an employee has been let go, that would be that. But payroll is never just that simple. It’s not at all uncommon for employees to be paid after what was supposed to have been their final paycheck and after a Record of Employment has been issued. From the employee perspective, […]

It was a rainy day in March of 2014 and… OK, maybe it wasn’t a rainy day. But, we had just made the decision to go full throttle and pivot our business from consumer facing to business facing. Here are three lessons we’ve learned since. 1. Your learning curve is everything. Your revenue curve often […]

As a small business, one of your main cash flow concerns is getting paid on time. Spending all of your time reminding clients that they owe you money isn’t the best, or most efficient, use of your time. Optimizing your invoicing process is one of the quickest, easiest ways to make sure you’re collecting on […]

During the past 17 years as a Kinesiologist and business owner, I’ve had my share of ups and downs. The downs have nearly been disastrous!  Some situations almost forced me out of business and strained personal relationships. Avoiding these mistakes will accelerate your success, save you thousands of dollars and a lot of heartaches. In […]