Blog
Tips, guides, and insights on bookkeeping, accounting, payroll, and growing your Canadian business.
How to Account for a Vehicle Lease in Canada: A Practical Guide
A practical guide to vehicle lease accounting in Canada: classification, tax rules, journal entries, and how Awditify automates the lease workflow for bookkeepers and owners.
How to Read a Cash Flow Statement in Canada
Reading a cash flow statement tells you where a business really stands. Learn the three sections, the indirect method, and the Canadian timing issues that hide cash problems.
Difference Between Cash and Accrual Accounting Canada
Cash accounting tracks money when it moves; accrual accounting tracks obligations when they happen. This guide explains the Canadian rules and how to choose the right method.
How to Switch Accounting Software Without Losing Your Data
Switching accounting software does not have to mean lost history or missed deadlines. This guide gives Canadian teams a step-by-step migration process that protects payroll, tax, and audit data.
Debt to Equity Ratio for Canadian Businesses
A practical guide to the debt to equity ratio for Canadian businesses: what it measures, how to calculate it, why lenders care, and how to improve your leverage.
Accounts Payable Aging Report: Canada Guide
Learn what an accounts payable aging report in Canada is, how to read it, common errors, and how Awditify keeps the report current with automation.
Profit Margin Calculation Canada Business: How to Do It
Learn how to calculate profit margins for a Canadian business, avoid common GST/HST traps, and see a worked example from an Ontario contractor.
Financial Ratios for Small Business in Canada
Learn which financial ratios for small business in Canada matter most, how to calculate them, and how to spot cash flow trouble before it becomes a missed CRA payment.
How to Do a Budget Variance Analysis in Canada
A practical Canadian guide to budget variance analysis: what it is, how to calculate it, and how to turn variances into decisions.
How to Calculate Break-Even Point for a Canadian Business
Learn the break even formula, see a worked example for a Canadian contractor, and find out how to automate the process.
How to Account for Inventory Shrinkage in Canada
Inventory shrinkage is the gap between what your books say you own and what you actually have on hand. Here is how to calculate it, record it, and defend it in a CRA review.
FIFO vs LIFO vs Average Cost in Canada: The Real-World Guide
Understand the differences between FIFO, LIFO, and average cost in Canada, including CRA rules, tax implications, and practical advice for small business owners and CPA firms.