The Canadian Entrepreneur's Guidebook
The Essential Guide On What You Need To Know And Do Before You Start A Business!
Running a business is exciting, but you need to be intentional with what you do, or it will begin to run you! "The Canadian Entrepreneur's Guidebook" is the essential guide on what is most important for you to know and do as you begin your business. It provides practical advice so that you can avoid the common and costly mistakes often made by new business owners, and gives insight on how the business works so that you can feel confident that you are doing what you need to do to lay the strong foundations for a wildly successful business!
Learn the difference between Incorporated and not Incorporated, how you are taxed, how sales tax works, how to reduce tax and avoid audits and penalties, as well as practical advice on how to manage your paperwork.
Also included is an overview of financial reports and how to read them, checklists to help keep your business on track, and an appendix of explanations that will empower your business to not just survive, but to thrive!
Written to be succinct and to the point, it's all the things that are a MUST to know when starting and running a business in Canada! (Better described as all the things that business owner's haven't known that has caused them stress and cost them money. If I had a Tardis I would go back in time and send them to this book! And that was exactly my inspiration for creating it! Now I need to figure out how to build a Tardis...)
Learn the difference between Incorporated and not Incorporated, how you are taxed, how sales tax works, how to reduce tax and avoid audits and penalties, as well as practical advice on how to manage your paperwork.
Also included is an overview of financial reports and how to read them, checklists to help keep your business on track, and an appendix of explanations that will empower your business to not just survive, but to thrive!
Written to be succinct and to the point, it's all the things that are a MUST to know when starting and running a business in Canada! (Better described as all the things that business owner's haven't known that has caused them stress and cost them money. If I had a Tardis I would go back in time and send them to this book! And that was exactly my inspiration for creating it! Now I need to figure out how to build a Tardis...)
TABLE OF CONTENTS:
Chapter 1) Control Your Business or it Will Control You
- Information is Power
- How do we Keep in Control?
Chapter 2) Understanding What a Business Is
- Corporations Vs Non-Incorporated Businesses
Chapter 3) What You Need to Keep Track of and Why
- Why do we Keep Track of all These Totals?
- Keep It Real
- Dates are Important
- Cash Accounting Vs Accrual Accounting
- An Explanation of Double Sided Accounting
- Why Should You Care
Chapter 4) GST/HST – Sales Tax
- The Difference Between Income Tax and Sales Tax
- Why GST/HST is special
Chapter 5) Accuracy and Efficiency Enables Your Business to Thrive
- What Expenses Can a Business Claim?
- Efficiently Tracking the Precious Data
- Don’t Mix Dirt Into the Data
- A Note on Receipts
Chapter 6) Get the Right Tools and Use Them Correctly
- Questions to ask When Choosing a Bookkeeping Software
- Third Party Addons and Synchronization
Chapter 7) Practical Tips on Paperwork Management
Chapter 8) Setting Up the Systems and Processes
- Tips to Create the Routines
- Changing Systems is Easier than Changing Behaviors
- Get it Checked, Consider Passing it On
Chapter 9) The Financial Reports
- Income Statement and Balance Sheet Explained
- How to Read the Reports
Chapter 10) Bookkeeping vs Accounting
- Create and Use Your Team Efficiently to Increase Your Success
- Words Words Words
Chapter 11) Now What?
Appendix:
Other Resources
Chapter 1) Control Your Business or it Will Control You
- Information is Power
- How do we Keep in Control?
Chapter 2) Understanding What a Business Is
- Corporations Vs Non-Incorporated Businesses
Chapter 3) What You Need to Keep Track of and Why
- Why do we Keep Track of all These Totals?
- Keep It Real
- Dates are Important
- Cash Accounting Vs Accrual Accounting
- An Explanation of Double Sided Accounting
- Why Should You Care
Chapter 4) GST/HST – Sales Tax
- The Difference Between Income Tax and Sales Tax
- Why GST/HST is special
Chapter 5) Accuracy and Efficiency Enables Your Business to Thrive
- What Expenses Can a Business Claim?
- Efficiently Tracking the Precious Data
- Don’t Mix Dirt Into the Data
- A Note on Receipts
Chapter 6) Get the Right Tools and Use Them Correctly
- Questions to ask When Choosing a Bookkeeping Software
- Third Party Addons and Synchronization
Chapter 7) Practical Tips on Paperwork Management
Chapter 8) Setting Up the Systems and Processes
- Tips to Create the Routines
- Changing Systems is Easier than Changing Behaviors
- Get it Checked, Consider Passing it On
Chapter 9) The Financial Reports
- Income Statement and Balance Sheet Explained
- How to Read the Reports
Chapter 10) Bookkeeping vs Accounting
- Create and Use Your Team Efficiently to Increase Your Success
- Words Words Words
Chapter 11) Now What?
Appendix:
- An Explanation of the List of the Standard General Ledger Accounts (the Totals)
- Mixed Used Expenses
- Assets Explained
- CRA Business Number Explained
- How to Use Bank Feeds
- Example Monthly Checklists
- Starting a Business Research Checklist
Other Resources
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