As a small business owner, you’re juggling a million tasks at once. From managing staff to serving clients, it’s easy to let your bookkeeping slide until tax time. But waiting months to review your numbers can be costly — and stressful. The key to staying on top of your business isn’t just keeping receipts organized; it’s knowing which financial reports to review each month and how to use them to make smarter decisions.

Running a small business means keeping a close eye on your expenses - especially those directly tied to your product or service. One of the most important numbers to understand is Cost of Goods Sold (COGS).

COGS helps you determine how much it actually costs to produce what you sell, giving you a clearer picture of your profit margins.

Establishing a well-structured chart of accounts (COA) is fundamental for businesses. This organizational tool categorizes all financial transactions, providing clarity and insight into your company's financial health. Here's how to set up an effective chart of accounts tailored to your business needs.

Maintaining accurate financial records is essential for all businesses in Canada. Not only does it ensure compliance with the Canada Revenue Agency (CRA), but it also provides clarity and insight into your business's financial health. So, what records should you keep, and for how long?

As a small business owner, the dawn of a new year brings both excitement and a multitude of responsibilities. Balancing daily operations while striving for growth can be overwhelming, especially when financial management tasks pile up. At Transfigures Bookkeeping, we understand these challenges and are here to support you. Here are five practical strategies to ensure a productive year, and how partnering with a professional bookkeeping service can alleviate your financial management burdens