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Big Rose Bookkeeping

Jennifer Smith

Jun 8, 2021
1 min

027 | T5018 FILING TIPS

Companies that generate more than 50% of their business income from construction activities are required by the CRA to file T5018 slips. The slips need to be filed within six months after the fiscal year end. How do you generate and file? It is really simple if you are using cloud accounting software. In similar manner to T4's, your accounting software can also create and submit T5018's. The problem? During the course of the business year, subcontractors come and go and if yo

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026 | A Small Business Guide To The 2021 Canadian Federal Budget

Jennifer Smith

May 21, 2021
1 min

026 | A Small Business Guide To The 2021 Canadian Federal Budget

I highly recommend small business owners take the time (a quick 10 minutes) to watch this summary of the 2021 Canadian Federal Budget. Click here. It's succinct and highlights all the important points. Thanks #Wagepoint for putting this out! #bigrose #bookkeeping #SMB #budget #CEWS #CERS

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025 | For all Quickbooks users out there in ecommerce ... here's a tidbit

Jennifer Smith

May 19, 2021
1 min

025 | For all Quickbooks users out there in ecommerce ... here's a tidbit

Just recently, Quickbooks has acquired the company OneSaas. I know! What??!! It hasn't been advertised en masse and we just heard about it today from our amazing Account Manager that keeps us in-the-loop. What this means for all you Quickbooks users in ecommerce? It means free (Yes FREE) integrations with your existing QBO file and OneSaas. For all the juicy details, here is a link to check out: https://www.onesaas.com/ #bigrose #bookkeeping #quickbooks #onesaas

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Jennifer Smith

May 17, 2021
1 min

024 | Our fave new app - Teamwork

Our favorite app that we recently implemented in our business is Teamwork. It is one-stop-shopping project management tool for staying organized every day. Our favorite highlights of the app are the Gantt boards, the Task lists, the timer feature for each staff to track hours per project and the feature to upload client specific files and notes. But the BEST part, is it integrates with everything! Quickbooks and Hubspot just to name a couple of big ones. If you are looking to

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023 | 37% of small businesses want their accountant or bookkeeper to provide Accounts Payable*

Jennifer Smith

May 12, 2021
1 min

023 | 37% of small businesses want their accountant or bookkeeper to provide Accounts Payable*

According to Relay*, 37% of SMB's need help with their Accounts Payable. The manual process of receiving bills, entering bills, AP aging, cashflow report creation to know when to pay bills, and then filing ... well it is a process. It's time heavy and requires a high level of organization to track and manage. It makes sense that businesses would prefer their bookkeeper handle it. Our process follows cloud accounting instead of manual receipt, manual entry and paper filing. We

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Jennifer Smith

Apr 28, 2021
1 min

022 | New Bookkeeping Bundles

Our newly created bookkeeping bundles have been posted on our website. Check them out here! We receive interest from potential clients that are looking for specific parts of the accounting cycle to be completed for their business. The bundles have been formed in a way to suit all sizes of companies and in a manner that addresses parts or all of the bookkeeping cycle. If you'd like to become a valued client, please review the bookkeeping solutions on our website, and submit a

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021 | Fun Fact about Big Rose Bookkeeping

Jennifer Smith

Apr 26, 2021
1 min

021 | Fun Fact about Big Rose Bookkeeping

I've been asked many times where the name "Big Rose" came from ??? Well, it was earned from a conversation with my beautiful children. My son's name is Celtic in origin and means "Little Fire" and my daughter's name is Greek in origin and means "a gesture of peace". So, in a conversation about their names and how fitting they were to their personalities (to a "T"!), my son piped up when he was just little and said, "And your nickname is Big Rose because you're bigger than us

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020 | Cloud accounting software options and which one is right for you.

Jennifer Smith

Apr 23, 2021
1 min

020 | Cloud accounting software options and which one is right for you.

With the announcement last week that Pilot has received an additional $100 million in funding, the question on the minds of accountants and business owners, is how does this affect the end user? Pilot utilizes Quickbooks Online for its cloud accounting, and with the new valuation of Pilot at $1.2 billion, the potential impact for growth at Intuit is astounding. Does that mean that Quickbooks Online will be the go-to for cloud accounting? Good question. The beauty of technolog

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Jennifer Smith

Apr 12, 2021
1 min

019 | Our new website is LIVE!

After a couple of months of tweaking, I'm pleased to announce that our new website is live! Please check it out and leave your comments with feedback. We love hearing from others and generating construction criticism to create even better things! #bigrose #bookkeeping #newbeginnings

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018 | Construction Accounting Challenges and Solutions

Jennifer Smith

Mar 24, 2021
1 min

018 | Construction Accounting Challenges and Solutions

Construction accounting has many moving parts, just like the job site. Monitoring multiple items accurately at one time can be a challenge. When all of these components are recorded, the financial statements will reflect a multitude of indirect costs. This makes it even more critical that construction firms implement cost-accounting methods that enable accurate tracking of their expenses to accurately project profit and loss. Three key challenges are: Cost of Goods Sold vs.

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Jennifer Smith

Mar 15, 2021
1 min

017 | The Importance of Time Blocking

It can be a challenge for business owners to run a lucrative company and still have a work/life balance. For those of us that have a family, own a business, and want to have a social life plus inject a bit of fun from time-to-time .... well it's a tricky thing to accomplish. Or so it may seem. All of the things that you may want can be easily accommodated into your life on a daily basis with the very simple practice of time blocking. The concept is simple. The execution is di

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010 | Be a Strong Woman on International Women's Day

Jennifer Smith

Mar 11, 2021
1 min

010 | Be a Strong Woman on International Women's Day

Today, I salute all of the women in business, all of the mother's running a business and raising children at the same time, and all those women aspiring to be a strong role model in their day-to-day life. I know it's tough sometimes. It gets heavy. Keep going. Six months from now you can be in a completely different place spiritually, mentally, and financially. Keep working and believing in yourself. #BigRose #IWD2021 https://www.internationalwomensday.com/

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009 | Big Rose is now Wagepoint Certified 👍

Jennifer Smith

Mar 11, 2021
1 min

009 | Big Rose is now Wagepoint Certified 👍

I am happy to announce that Big Rose Bookkeeping has become a Partner with Wagepoint and obtained Wagepoint Certified Status! Payroll was already a service offered to our clients - however - we want current and future clients to feel confident with us. Continued education, learning, and certification is something we enjoy. Always continue to push the boundaries and stay ahead of the curve. #bigrose #bookkeeping #payroll #wagepoint

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008 | Integrated software for contractors ... take a look!

Jennifer Smith

Mar 11, 2021
1 min

008 | Integrated software for contractors ... take a look!

SimPro is an operations management software tool that specializes in trades companies - #electrical, #plumbing#hvac#contractors. It is cloud based (no data limits), user friendly (training offered) and offers a multitude of custom reporting options PLUS it integrates with Quickbooks and Xero. They are building a customer base here in Canada and spent some time showing me around! For contractors looking for a new app, check this one out. For contractors already using the app a

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016 | How to streamline your accounting processes effectively in 5 steps.

Jennifer Smith

Mar 11, 2021
1 min

016 | How to streamline your accounting processes effectively in 5 steps.

Lucky for us, the wheel has already been invented so no need to re-create it! The number 1 thing I see in businesses looking for help is their system has failed leaving them behind with their numbers and unsure where they sit financially. The system has failed because it is ineffective, inefficient and in essence they don't have a system. It benefits your business to take the time to create one that is simple and easy for staff to follow. Building a solid process is similar t

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Jennifer Smith

Mar 11, 2021
1 min

015 | 2020 Award Winner!

I was very pleased to receive an acknowledgement that Big Rose Bookkeeping is reaching clients on CanadianAccountantSearch.com. Thank you! #bigrose #bookkeeping #award #smallbusiness

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Jennifer Smith

Mar 11, 2021
1 min

014 | Young Entrepreneur S.O.S.

I had a great conversation with a young entrepreneur yesterday. He has started his own video and photography business and it's doing great! However, he needs help getting a bookkeeping system started. He doesn't have one, and isn't sure where to begin. One of the things I enjoy about my company, is helping #entrepreneurs with creating a bookkeeping system and then teaching how to continue the system plus understand what basic bookkeeping is. Send me an S.O.S anytime if you a

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013 | The Latest News in CRA Reporting: The PD27 Report - 10% Temporary Wage Subsidy (TWS)

Jennifer Smith

Mar 11, 2021
1 min

013 | The Latest News in CRA Reporting: The PD27 Report - 10% Temporary Wage Subsidy (TWS)

If you have been eligible to take advantage of the 10% temporary wage subsidy, there is an additional report that CRA is encouraging you to complete. The PD27 will assist CRA in reconciling the TWS amounts on your payroll accounts. If you complete this report and submit prior to filing the T4 summary, it could prevent CRA sending you a discrepancy report at a later date. You can submit the form online through your My Business Account. https://www.canada.ca/en/revenue-agency/s

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Jennifer Smith

Mar 11, 2021
1 min

012 | Canada Summer Jobs Program

This is a great program that offers an opportunity for youth to gain workplace experience. Due to Covid-19, funding amounts have increased, but the deadline is fast approaching. January 29th! If you need assistance crunching numbers to submit an application, feel free to reach out and we can assist you. #bigrose #bookkeepingservice #entrepreneurship #smallbusiness #womeninbusiness #youthprogram

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Jennifer Smith

Mar 11, 2021
1 min

011 | Setting S.M.A.R.T Goals

I recently learned about the S.M.A.R.T Goal Setting method and am using it in my business for this New Year 2021. It focuses on Specific, Measurable, Attainable, Realistic and Time-bound methods to create a pathway into your future. I What goals are you setting for this year that fall into those criteria? #bigrose #bookkeeping #newbeginnings #goals #womeninbusiness #entrepreneur

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