The simple method to make any business more profitable, permanently
Thanks to guest blogger Mike Michalowicz for sharing his advice with the Wave community. Mike is the entrepreneur behind three multi-million dollar companies and he is also the co-founder of Profit First Professionals, an organization that certifies accountants and bookkeepers in the Profit First method. If you're a Wave Pro, be sure to join this awesome group to help your small business clients put the Profit First method into practice. A big thanks to Mike for the work he does to educate and liberate business owners around the globe.
If you look at online reviews lately, the term "accounting software" gets applied to anything capable of adding two numbers together. So expense trackers, invoicing applications and other lightweight software in the cloud get lumped in with real, double entry accounting applications like Wave. It drives me nuts.
Few words strike fear into an entrepreneur's heart more so than the word audit. Many of us dread the day we get that letter, phone call, or (even worse) surprise visit from a representative of the CRA or IRS. Thankfully, here are five things you can do to greatly reduce your chance of receiving one of these impromptu visits.