Blog

Big Rose Bookkeeping

Jennifer Smith

Nov 19, 2021
1 min

050 | Women's Entrepreneurship Day

Today on Women's Entrepreneurship Day - November 19th, 2021 - we'd like to recognize the talented, smart, resilient and creative women in business that have paved the yellow brick road for female entrepreneurs everywhere. Your journeys have been inspiring and encouraged other female business owners to strike out on their own and Be The Boss. A quote that I have relied on over the years and may hopefully inspire someone else today - "Don't worry what might happen if you fail.

3 views0 comments

049 | Would you like to Save $$$ on QBO?

Jennifer Smith

Nov 19, 2021
1 min

049 | Would you like to Save $$$ on QBO?

At Big Rose Bookkeeping, we value our current clients and welcome new, future clients. We are Quickbooks Advanced Online Pro-Advisors and can offer you a savings on Quickbooks Online Monthly Subscription fees. 35% Off Retail Monthly Subscription costs when you host your Company File with Big Rose Bookkeeping. Please email us - or visit our webpage - and we will get you setup! Email: bookkeeping@bigrose.ca #bigrose #bookkeeping #QBO #savemoney

4 views0 comments

048 | Topic of the Month - GAAP - Part 2

Jennifer Smith

Nov 12, 2021
1 min

048 | Topic of the Month - GAAP - Part 2

In our last post, we announced the Hot Topic of the Month - #GAAP - and briefly outlined its definition. In our second post in this series, we will discuss the 4 Principles of GAAP to share a better understanding of what it means for #Entrepreneurs and business owners. The 4 basic principles of GAAP are: Costs Revenues Matching Disclosures Costs The cost principle requires that the actual cost of assets be recorded instead of recording the cost based on market values or adjus

5 views0 comments

046 | I hate to say I told you so ... BUT ...

Jennifer Smith

Nov 8, 2021
1 min

046 | I hate to say I told you so ... BUT ...

Our earlier post when we predicted a price increase after Intuit purchased Mailchimp.

4 views0 comments

045 | November Topic of the Month - GAAP

Jennifer Smith

Nov 5, 2021
1 min

045 | November Topic of the Month - GAAP

So ... what is GAAP? We hear the term used all around us but how much is really known about it? This month, we are going to dive a bit deeper. We'll start off simply with the definition of GAAP. According to Wikipedia, Generally Accepted Accounting Principles (GAAP) of Canada provides the framework of broad guidelines, conventions, rules and procedures of #accounting. In 2006, Canadian GAAP was converged with International GAAP (IFRS) and became the new set of guiding princip

2 views0 comments

Jennifer Smith

Oct 31, 2021
1 min

044 | HAPPY HALLOWEEN!

Hallowe'en is one of my favorite holidays. I love the leaves changing colors on the trees and scattering the ground in a flurry of whimsy, the joyful sounds of children laughing, the crazy costumes, firecrackers banging and sugar-rushes hitting an all-time high! Please stay safe out there everyone and revel in the first bit of joy we've had in a VERY long time. HAPPY HALLOWE'EN. #bigrose #bookkeeping #halloween

2 views0 comments

043 | GST - Last Step: Reporting & Filing

Jennifer Smith

Oct 29, 2021
1 min

043 | GST - Last Step: Reporting & Filing

In our post last week, we provided the information on how to record your transactions for #GST. Now in our last step, we'll run through reports and filing your taxes. In your Cloud Accounting software, there is a section/module for Taxes. This should have been setup already in previous steps. When you run a report for the correct filing period, double check your revenue and most importantly, your Input Tax Credits (ITC's). Hundreds of dollars are missed each reporting period

10 views0 comments

042 | Hey Gotcha! Have you been Ghosted?

Jennifer Smith

Oct 28, 2021
1 min

042 | Hey Gotcha! Have you been Ghosted?

How terrible is it when you call, and call, and call and yet hear crickets when you need answers? Emails go unanswered, deadlines get closer and still nothing? If this sounds like your situation and you need help with your bookkeeping - please reach out to us. We can help! ** Secure a 35% discount on your Quickbooks Online monthly subscription when you host your file with us. Contact Us and we'll get it set up. #bigrose #bookkeeping #smallbusiness #entrepreneur #halloween #gh

1 view0 comments

041 | GST - Next Step: Record Transactions

Jennifer Smith

Oct 22, 2021
1 min

041 | GST - Next Step: Record Transactions

In our post last week, we provided the information to setup your new GST number in your cloud accounting platform. We prefer #Quickbooks of course! Now in Step 3, record your transactions (sales and expenses) with #GST. When creating a sales invoice to customers, ensure your tax feature is turned on and the field is available for you to select. You know your business best, so choose GST for all applicable product or service sales. When entering an expense, ensure that you hav

3 views0 comments

Jennifer Smith

Oct 15, 2021
1 min

040 | GST - Next Step: Setup

In our post last week, we provided the information and links to register for a GST number with #CRA. Now in Step 2 after you have registered, you can setup your books appropriately. We suggest utilizing cloud based accounting software such as Quickbooks (especially as we are self-professed technology obsessed Quickbooks Pro-Advisors!). There are many other options to you for cloud accounting, so choose a platform that you are comfortable with, and one that fits your budget. O

4 views0 comments

Jennifer Smith

Oct 11, 2021
1 min

039 | Happy Thanksgiving!

#bigrose #bookkeeping

3 views0 comments

036 | I'm confused about GST. What do I need to do?

Jennifer Smith

Sep 21, 2021
1 min

036 | I'm confused about GST. What do I need to do?

Once you have registered for a GST number with CRA and know what your assigned reporting schedule will be, we recommend utilizing cloud based accounting software such as Quickbooks to record your monthly sales & expenses transactions. Run your reports per the schedule and file through your MyCRA Business Account or GST Netfile. And as always, we are here to help! Contact us with your questions. #bigrose #bookkeeping #entrepreneur #GST #smallbusiness

6 views0 comments

035 | Fear not! You have questions and we have answers.

Jennifer Smith

Sep 16, 2021
1 min

035 | Fear not! You have questions and we have answers.

Check out our newly created Frequently Asked Questions (FAQ's) page on our website! We've compiled some of the common accounting and bookkeeping questions we've been asked over the years and we hope it helps! There are lots more questions we'd love to answer, and if there is something specific you are looking for, please feel free to reach out and contact us. Our Mission is to help you succeed. #bigrose #bookkeeping #FAQ #entrepreneur #startups #SMB

1 view0 comments

034 | Our Mission is to help you succeed.

Jennifer Smith

Sep 13, 2021
1 min

034 | Our Mission is to help you succeed.

#bigrose #bookkeeping #entrepreneur #nanaimo #smallbusiness

1 view0 comments

Jennifer Smith

Sep 2, 2021
1 min

033 | Complimentary Cash Flow Report

Have you recently started a business or in your second year and struggling with getting your cash flowing in the right direction? We'd like to help! Our Complimentary Cash Flow Forecast will give you a bird's eye view of your finances and what you need to do to get back on track this Fall Season. Contact Us and we'll get started. #bigrose #bookkeeping #startups #entrepreneur #SMB #cashflow

2 views0 comments

Jennifer Smith

Aug 17, 2021
1 min

032 | Solution Focused

Many people have asked me over the years, "How can you sit and crunch numbers all day?!" In the past, I didn't know how to answer that question when it felt more like an insult and accusation. But now, I have a great response. I happily say, "I don't crunch numbers all day, I solve problems." I used to fight against my natural ability to analyze and overthink and pick apart the details of anything and everything! I was that kid that pointed out spelling errors to the teacher

3 views0 comments

Jennifer Smith

Aug 9, 2021
1 min

031 | New Doors

I've seen many people get stuck in the progress of their life because habit has won out over the discomfort of something new. The worst part is complaining about the habit, yet continuing to do it, and letting you stop you from getting what you really want! It's been a tough Covid year for all of us, some more than others, and I challenge anyone reading this post to break out of their comfort zone and do 1 - just 1 - new thing starting tomorrow. Today, I wrote this blog post

5 views0 comments

Jennifer Smith

Jul 15, 2021
1 min

030 | Crisis or Opportunity?

When we encounter a challenging situation, the perspective we take will plot the road ahead for us. Crisis takes with it the negative connotation that something bad happened, while opportunity takes the connotation that there is something positive ahead. In recently encountering a challenging situation, my first response was conflict and crisis. That the experience was negative, the outcome was going to be unsatisfactory and it was filled with unwanted drama. Upon taking some

6 views0 comments

Jennifer Smith

Jul 8, 2021
1 min

029 | Perseverance

I thought it would be fitting today to share a little bit of inspiration, especially for those that need some extra support today. #bigrose #bookkeeping #perseverance #entrepreneur

6 views0 comments

028 | Concrete Tips for Invoicing in QBO

Jennifer Smith

Jun 10, 2021
1 min

028 | Concrete Tips for Invoicing in QBO

#Quickbooks is great! We all love it and the features it offers to keep our books straight. It's an intuitive program as well and tries to outsmart itself, confusing us in the process! When you alter the invoicing number sequence in Quickbooks, it gets confused. Sometimes it tries to put the same invoice number in twice, and sometimes it tries to pick a number that was missed in an old sequence that you don't use anymore. But therein is the issue --especially for contractors

10 views0 comments

Blog

Let's Connect

Get Our Weekly Tips