Interested in knowing how to run cash flow forecasting with Xero? Having an awareness of your business’s cash now and in the future is integral to staying ahead of the competition. With Xero and the tips in this blog, you can be on your way to making a cash flow forecast in minutes.
If you're a small business owner and you're paying your team members as consultants because you either want to avoid some of the administrative work that comes with payroll or because you want to save a bit on taxes, you might be exposed if you haven't considered the criteria that CRA uses to determine the employee vs contractor nature of the relationship. Below we'll look at 5 factors that the CRA uses to help make this determination.
Curious to quickly know whether you would be a good match for a cloud accounting firm or whether you're better off with your current offering?
After speaking to hundreds of business owners over the past 3 years, we're able to pretty easily spot who would be a good fit for a cloud accounting firm and who would be better served elsewhere.
When you're on the hunt to start working with a new accounting firm, the decision isn't always easy. Everyone is promising you everything and it's hard to know which option to settle on. Since this will be an on-going relationship, one key consideration to make is to look at selecting an accounting firm model that jives well with the way that you like to work. Let's take a look at some reasons for why you may want to select working with a cloud accounting firm versus a more traditional model.
There are over 2 million accountants and bookkeepers in North America.
That’s a lot of accountants!
Why would a potential client choose you over the accountant down the street from you? What do you do that’s special or different? If you’re unable to answer that question, then chances are neither can your potential client.
Bringing something different to the mix is essential in terms of developing your firm, charging fair prices and ultimately having more fun in what you do.
A lot of service businesses try to be everything to everyone. Whatever lead or contract that comes around is seen as additional revenues and we all know that turning down additional revenues is a big no-no, right?
Rip up my timesheet? Are you nuts?
It’s a crazy, counterintuitive thought for most professionals out there. I know.
I’ll go out and say it. Charging by the hour for your services is a cop out.