Category Fiscal Performance

That Payroll Thing

That Payroll Thing

In a world where everything is provided for us, there would be no need to go out and work.  It sounds rather utopian – kind of like a “Garden of Eden” or “Shangri La” scenario or something similar.  As this…

From Our Point of View

New Client Interview
In our business here at Fiscal Performance we see and work with many different types and sizes of companies and businesses. That’s the nature of the business when you are a freelance/contract bookkeeper or a bookkeeping firm.

Financials on Balance

Financials on Balance
Proprietorships and partnerships are only required by law to produce a Profit & Loss Statement. As mentioned, the bottom line is added to and impacts the personal income of the owner or owners. This in turn affects the taxes that they will ultimately pay. Corporations, however, must also submit a Balance Sheet to Revenue Canada at the end of the fiscal year.

Fast Away The Old Year Passes

Year ends, when it comes to the financial side of a business, represent a time of year when all the numbers need to be tidied up, consolidated, agreed to by management, and presented to the accountant for tax filing with Revenue Canada.

Current Events on the Labour Front

A number of changes in terms of labour reform have been announced by the Liberal government here in our province of Ontario. Your opinion on each of the changes will determine whether you see them as good or bad. Regardless, they’re coming so hang on to your hats.

The Paper Mountain

The Paper Mountain
When I talk about paper, I’m referring to documents generated in the course of business. In our world we deal mainly with the paperwork that supports the bookkeeping and accounting functions.

Allowable Write-offs

Allowable Write-offs
In the big scheme of things, all companies need to concentrate on the bottom line. This applies to proprietorships, partnerships and corporations. By “bottom line” we are referring to the net profit or loss on the Earnings Statement or Profit & Loss Statement.

Full cycle bookeeping

Full Cycle Bookkeeping
Ask many people what they think bookkeepers do and, as often as not, the reply will be to enter the business numbers into the books, write a bunch of cheques and make bank deposits. Even many business owners and managers think this way. They’re not wrong but there is so much more.