Explore Small Business Finance Topics
Discover our most popular topics for Canadian solopreneurs and small business owners. From income tax and GST/HST to QuickBooks tutorials and managing your business finances, these guides are designed to help you move from financial uncertainty to financial confidence.
Click on any topic and scroll down to see related articles.
📑Canadian Income Tax
Guidance on filing and planning your Canadian taxes, from T1 and T2 returns to instalments
📊Managing Business Finances
From cash flow to pricing and metrics — learn to manage your business finances with confidence.
🏢 Canadian Business Structure
Should you incorporate? Stay informed on sole proprietorships, corporations, and registrations.
💰 GST/HST & QST
Understand how to register, file, and maximize input tax credits while avoiding common mistakes.
🧾 Guides and Tutorials
Practical accounting processes like reconciliations, journal entries, and reporting.
📝 Deductions & Expenses
Learn which expenses are deductible and how to track them for maximum tax savings.
Quebec Taxes & Business
QST, Revenu Québec filings, Quebec payroll, and provincial rules every entrepreneur should know.
👤 Paying Yourself
Salary vs dividends, management fees, and how to pay yourself from your corporation or small business.
💻 QuickBooks Online & Tools
Tutorials, guides and time-saving tips for using QuickBooks Online effectively.
🏦 Money & Personal Finance
Personal finance strategies for entrepreneurs, from RRSPs to saving for taxes.
What Are Bank Reconciliations and Why Every Business Should Do Them
Many small business and self employed owners take on the responsibility of doing their own accounting. You may do all of your own accounting from set up to preparing your own small business tax return OR you may have an accountant who simply takes care of your year end and tax reporting. Accounting software has made doing your own accounting much simpler and allows for most business owners to do it, regardless of whether they have some sort of accounting background. There is however a learning curve and certain accounting steps that not everyone is aware of and that are very important to ensure the accuracy of your books. One of these is are bank reconciliations.
7 Reasons Why Debt is Good for Your Business
Debt is often perceived negatively. Debt can be “evil”, “crippling” and an “unforgiving master”( the last one from the Google query “Debt is…”;). It suggests a lack of sufficient cash flow and an inability to fulfil your funding requirements. It also an indication of increased risk, as if you are unable to service your debt repayments, it could have dire consequences for your business (see American Apparel). There is however another side to debt. The majority of large corporations have some level of debt. It can be a great way for individuals to earn a return on their investment. And of course it is an integral part of the engine that drives the world economy. For small business owners, debt can actually provide some great benefits as long as it is managed responsibly. Some of these are discussed below:
