Blog
Tips, guides, and insights on bookkeeping, accounting, payroll, and growing your Canadian business.
Best Accounting Software for Contractors in Canada 2026
Canadian contractors need accounting software that handles WSIB, payroll, progress billing, and GST/HST. This guide compares top options for 2026 and explains why Awditify is the best fit.
How to Do Payroll Reconciliation in Canada: A Step-by-Step Guide
Payroll reconciliation in Canada means matching payroll records to bank statements, remittances, and year-end slips. This guide walks you through the process and shows how to avoid common mistakes.
How to Set Up Bookkeeping for a New Canadian Business
A practical guide to setting up bookkeeping for a new Canadian business, including accounting methods, chart of accounts, GST/HST registration, payroll setup, and monthly reconciliation.
What Is Accrual Accounting? Canada Guide for Businesses and CPAs
Accrual accounting records revenue when earned and expenses when incurred, giving a more accurate financial picture. This guide explains the principles, Canadian tax and regulatory requirements, and how to implement it effectively.
What Is Gross Profit Margin? Canada Business Explained
Gross profit margin is a key metric for Canadian businesses. This article explains what it is, how to calculate it, and how to use it to improve profitability.
What Is a General Ledger? Canada Business Guide
A clear, practical guide to the general ledger for Canadian business owners, bookkeepers, and accountants. Covers structure, compliance, and best practices.
How to Account for a Vehicle Purchase in Canada: A Business Guide
A practical guide for Canadian businesses on accounting for vehicle purchases, covering capital vs expense, GST/HST input tax credits, CCA, and how to streamline the process with Awditify.
How to Record Credit Card Expenses in Canada: A Practical Guide
Recording credit card expenses in Canada requires tracking GST/HST, categorizing mixed-use charges, and reconciling statements. This guide covers best practices, common mistakes, and how Awditify simplifies the process.
How to Record Owner Drawings in Canada: A Step-by-Step Guide
Owner drawings are common in Canadian small businesses but often recorded incorrectly. This guide explains the proper journal entries, tax consequences, and best practices for tracking drawings.
How to Write Off Bad Debt in Canada: A Practical Guide
Learn how to write off bad debt in Canada, including GST/HST adjustments, income tax deductions, and CRA requirements. Includes a real-world example for a contractor firm.
How to Set Up Accounting for a New Business in Canada
A practical guide for Canadian small business owners and their accountants on setting up accounting from day one, including tax registration, bank feeds, and payroll.
How to Create a Chart of Accounts in Canada: A Practical Guide
Learn how to create a chart of accounts for your Canadian business, CPA firm, or municipality. Step-by-step instructions, examples, and best practices avoid common mistakes.