What is YTD in Payroll?
YTD, or Year-To-Date, in payroll, refers to the total of all earnings, deductions and contributions from the beginning of the current calendar year up to the current pay period. This surrounds all employee compensation forms, such as wages, bonuses, overtime and allowances. There are also taxes withheld, retirement contributions and other deductions from their pay. […]
What Is Full Cycle Bookkeeping?
Full cycle bookkeeping is a comprehensive accounting process that involves recording all financial transactions of a business. This starts from the initial transaction to the final financial statements. It encompasses every step of the accounting cycle, from setting up accounts and entering transactions to closing out accounts at the end of an accounting period. The […]
How Bookkeeping Services Give You A Strong Foundation
Bookkeeping is often thought of as inferior to accounting, but that couldn’t be further from the truth. Bookkeepers are hired to record the accounting information, generally the more routine transactions such as bank accounts and cash transactions. There has been a slight shift in the traditional view of hiring someone to perform this function, and […]
Accounting Services: How Can They Benefit You?
The accountant is a very important person in your business, charged with ensuring the accounting information is accurate, valid, and complete. Generally, the accountant will receive more routine accounting information from the bookkeeper, such as the bank account and cash-on-hand transactions. Businesses around Halifax are realizing that their bookkeeping services and accounting services can be […]
Your Responsibility As A Canadian Taxpayer
As a Canadian citizen, it is important to understand your responsibility when it comes to your tax obligation. All income-earning individuals are required to fill in and submit their tax returns. In the case of a business, there are a lot more tax responsibilities that must be adhered to. Taxation in Canada is regulated by […]
What Can Go Wrong With Money Remittances?
As a business owner, you are aware that there are a lot of aspects to running a successful business. You, as one person, cannot be expected to know and understand every formality or specialty within these business aspects, which is why you hire competent people to assist you with the tasks you cannot or do […]
What You Should Know About Financial Compliance In 2022
Any business aiming to operate legally must prioritize financial compliance. Regarding business finances, understanding what it means to be financially compliant is essential to running your business effectively. We use this article to explain what it means to be financially compliant, why it’s crucial for all financial entities and companies, and how to ensure financial […]
Accounting Policies Explained
Accounting policies are the driving procedures for preparing financial statements for companies and industries. Accounting policies may include measurement systems, disclosure procedures, and accounting methods used by the company. Accounting services in Halifax and worldwide include principles and policies which differ in that principles are predetermined rules, which are more lenient. Alternatively, policies provide a […]
Benefits of Money Remittance Services in Halifax
Canada is a great place to start a small business because of the huge growth potential and the many structures in place to support Small, Medium, and Micro Enterprises (SMMEs). One of these supports is professional accounting companies such as Kevin Martin Accounting that assist with CRA (Canada Revenue Agency) compliance so you, as a […]
Stay Compliant and Reduce Stress With Professional HST Services in Halifax
If you’re a small business owner in Halifax, have you considered HST services to help you fulfill your tax obligations? Many entrepreneurs try to handle their taxes on their own to save on the cost but ultimately, you’re not saving on time, and may increase your stress levels. A professional HST service provider in Halifax […]
