Shift Accounting

Canada Emergency Rent Subsidy Last week, Canada updated its information regarding the Canada Emergency Rent Subsidy. "The new rent subsidy would be available retroactive to September 27, 2020, until June 2021. ... The government is providing the proposed details for the first 12 weeks of the program, until December 19, 2020. The proposed program would, in many ways, mirror the successful Canada Emergency Wage Subsidy, providing a simple, easy-to-understand program for affected qualifying organizations. The new rent subsidy would provide benefits directly to qualifying renters and property owners, without requiring the participation of landlords." - Department of Finance Canada www.canada.ca If you have questions regarding this subsidy and how it might affect your company, contact us today! Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #dentalhygienist #dental #dentalassistant #dentaloffice #dentalimplants #dentalschool #dentallab #dentallife #dentalcare #dentalphotography #dentalhealth #dentalpractice #dentistlife #dentistry #dentistrylove #consult #humanresources #peoplepower #successfulpeople #entrepreneur #torontodentist #torontolifestyle #downtowntoronto #torontolife #midtowntoronto #torontogram #torontolove #torontocanada #torontoliving

Taking a moment to remember the veterans who fought for us so we can enjoy the freedoms we have today! Thank you! ... - Shift Accounting Team Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #yyc #calgary #alberta #canada #yycliving #yycnow #calgarynow #calgaryalberta #accounting #accountant #money #chiropractor #dentistry #physiotherapy #sportstherapy #chiropractic #familydoctor #pediatric #pediatrics #bookkeeping #doctor #wealthmanagement #financialadvisor #businessmanagement

At Shift Accounting, we believe that having a robust financial view of your practice is key to its success. You need to know your overhead and profitability, because only then can you really understand whether you’re headed in the right direction or not. Our goal to change the way you see your finances and give you the tools, data and advice to help achieve YOUR goals.... Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #yyc #calgary #alberta #canada #yycliving #yycnow #calgarynow #calgaryalberta #accounting #accountant #money #chiropractor #dentistry #physiotherapy #sportstherapy #chiropractic #familydoctor #pediatric #pediatrics #bookkeeping #doctor #wealthmanagement #financialadvisor #businessmanagement

Are you using cloud accounting tools for your clinic? One thing the recent pandemic highlighted was the importance of good accounting and payroll records. ... As the government released various stemless measures to ensure business continuity, accountants across the country started helping small businesses with different subsidies. The importance of accurate, updated bookkeeping, and payroll was evident. Businesses who did not have clean, up to date books struggled to create financial plans or have visibility on cash flow needs. Modernizing your bookkeeping systems may seem daunting, but the cost of doing nothing is greater. We can help you bring your financials into the modern world and prevent your systems from holding you back! Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #yyc #calgary #alberta #canada #yycliving #yycnow #calgarynow #calgaryalberta #accounting #accountant #money #chiropractor #dentistry #physiotherapy #sportstherapy #chiropractic #familydoctor #pediatric #pediatrics #bookkeeping #doctor #wealthmanagement #financialadvisor #businessmanagement See more

This is a friendly reminder from Shift Accounting to SAVE for your taxes! It is important to remember that CERB payments are taxable and these taxes will be due April 30th of 2021. To avoid unnecessary stress it is strongly recommended that you prepare now and speak with a professional if you have any questions! ... Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #moneymanagement #wealthmanagement #successmindset #tech #ceo #podcastlife #accounting #sportschiro #doctor #physician #wealth #financialadvisor #financial #entrepreneur #tax #victoriabc #yyj #vancouverisland #victoria #victoriabuzz #canada #explorebc #victoriabccanada #yyjbusiness #langfordbc #langford #vancouver #oakbay #sooke #downtownvictoria

Your business account isn't your personal bank account! As an accountant, I regularly come across this issue with clients who resort to using their business account as their personal account when they find they are in a financial pinch. While it seems harmless, this habit can land you in hot water! A major issue to consider is the struggle to keep track of what is an actual business expense and what is not. Just because you pay for something with a business card does... not mean that it is suddenly a business expense. Blurring these lines of business and personal can also make it hard to understand profitability or lack thereof preventing you to successfully grow your business. Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #yyc #calgary #alberta #canada #yycliving #yycnow #calgarynow #calgaryalberta #accounting #accountant #money #chiropractor #dentistry #physiotherapy #sportstherapy #chiropractic #familydoctor #pediatric #pediatrics #bookkeeping #doctor #wealthmanagement #financialadvisor #businessmanagement See more

We wanted to say a quick "Hello" to all our new followers! Here is a little video to tell you what we are all about! ... Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #dentalhygienist #dental #dentalassistant #dentaloffice #dentalimplants #dentalschool #dentallab #dentallife #dentalcare #dentalphotography #dentalhealth #dentalpractice #dentistlife #dentistry #dentistrylove #consult #humanresources #peoplepower #successfulpeople #entrepreneur #torontodentist #torontolifestyle #downtowntoronto #torontolife #midtowntoronto #torontogram #torontolove #torontocanada #torontoliving See more

How much cash do you typically keep in your business? Are you always worried your bank accounts are running too low? Ideally, you should target save up a cash balance of at least 4-6 months of expenses in your bank account.... Why do this? This will help you sleep better at night. Also when the cash runs low you can get desperate, and desperation usually leads to bad business decisions The other thing having cash reserves protects your clinic from going out of business as we’ve seen this year. Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #moneymanagement #wealthmanagement #successmindset #tech #ceo #accounting #bookkeeping #chiropractic #physio #chiropractor #wellness #physiotherapy #sportschiro #doctor #physician #wealth #financialadvisor #entrepreneur #tax #ottawa #ottawacanada #ottawatourism #ottawafoodies #ottawaphoto #ottawaevents #ottawastyle #ottawaontario #ottawavalley #ottawabusiness #ottawadentist See more

Why keeping up on your books matter? I’m sure you have heard this one before you: you need good clean books for your business, and now it’s more important now than ever! All government stimulus programs (Wage Subsidy, Canada Emergency Business Account, and others), require you to keep your books and filings up to date. Your bank and your tax accountant need your books to be clean and current as well.... Do we need to say more... Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #yyc #calgary #alberta #canada #yycliving #yycnow #calgarynow #calgaryalberta #accounting #accountant #money #chiropractor #dentistry #physiotherapy #sportstherapy #chiropractic #familydoctor #pediatric #pediatrics #bookkeeping #doctor #wealthmanagement #financialadvisor #businessmanagement

How do you stack up compared to your peers: When you are a startup clinic, it's important to focus on getting your production up as fast as possible, so you can pay your staff and suppliers and not rely on your line of credit It’s important to focus on increasing production, getting your schedule busy. But ultimately it’s the profit that matters. ... As you pass the point of break-even (More production then expense paid) you need to know if you are making a profit I want to encourage you to do industry benchmarking analysis at least annually, to see how you stack up compared to your peers. This will help you identify opportunities for improvements and areas to celebrate your success Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #yyc #calgary #alberta #canada #yycliving #yycnow #calgarynow #calgaryalberta #accounting #accountant #money #chiropractor #dentistry #physiotherapy #sportstherapy #chiropractic #familydoctor #pediatric #pediatrics #bookkeeping #doctor #wealthmanagement #financialadvisor #businessmanagement

Happy Thanksgiving! Our Shift Account teams want to wish you a wonderful day! Shift Accounting ... Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #dentalhygienist #dental #dentalassistant #dentaloffice #dentalimplants #dentalschool #dentallab #dentallife #dentalcare #dentalphotography #dentalhealth #dentalpractice #dentistlife #dentistry #dentistrylove #consult #humanresources #peoplepower #successfulpeople #entrepreneur

I'm sure we have all done it, chosen to purchase a cheaper, less inferior product or service in the name of saving money. While sometimes we get lucky and things work out, we are often less disappointed and forced to spend additional money for the original quality we were looking for. Quality is something we never skimp on, but instead is always something that we will work to excel in - Always!... Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #entrepreneur #business #motivation #inspiration #success #hustle #businessowner #entrepreneurlife #marketing #goals #successful #grind #quoteoftheday

Is your shoebox of receipts organized? Do you know CRA requires a business to save all receipts, bills, and bank statements for six years? So how do you track your business expenses to make sure that your deductions hold up in a CRA review? ... Do you use the shoebox approach? Throw it all in a box and hope it will be there one day If that’s you, there is a better way! Use a receipt scanning app like Receipt Bank or Hubdoc! Once you download the app you can snap a picture of your receipts and have the app store the receipt on the cloud. you don’t even need a physical copyCRA will accept a digital picture of your receipts. Do you need help cleaning up your own books? Schedule a time to chat with our team! Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #yyc #calgary #alberta #canada #yycliving #yycnow #calgarynow #calgaryalberta #accounting #accountant #money #chiropractor #dentistry #physiotherapy #sportstherapy #chiropractic #familydoctor #pediatric #pediatrics #bookkeeping #doctor #wealthmanagement #financialadvisor #businessmanagement See more

Don't Manage your clinic by your bank balance How do you evaluate your clinic's performance? Do you review your books, monthly and evaluate your clinic performance against a set budget? ... Or do you just check your bank balance and see how much cash left? Unfortunately, most healthcare professionals use the bank method. If you want to build a successful profitable business. Try this Each month, clear your schedule for an hour or so and review the statements you get from your accountant\bookkeeper Review each line item on your P&L, review the details of each account, and compare it to the budget. Identify areas you overspent, and understand why. This exercise will help you understand how you spend your money each month and help you identify areas for improvement. If you do this regularly (plus many other important things) you will build a successful clinic Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #yyc #calgary #alberta #canada #yycliving #yycnow #calgarynow #calgaryalberta #accounting #accountant #money #chiropractor #dentistry #physiotherapy #sportstherapy #chiropractic #familydoctor #pediatric #pediatrics #bookkeeping #doctor #wealthmanagement #financialadvisor #businessmanagement

Gah, budgets gross! We get it. But let’s talk about why they’re really important A few years back we reviewed all of our client files and it turned up something interestingthose clients that took budgeting seriously and actually did their best to follow their budgets reaped the full benefit of them. And their year numbers really reflected that. Budgeting is one of those things that is well known but rarely ever taken seriously. ... However, it’s crucial because it forces you to take a hard look at your operations. If done properly, budgeting gives you a realistic idea of what constraints your business facescash flow, patient retention, collections, etc.along with important things like how much you need to earn in revenue just to cover your expenses and how hard you need to work to reach your profitability targets. Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #torontodentist #torontolifestyle #downtowntoronto #torontolife #midtowntoronto #torontogram #torontolove #torontocanada #torontoliving Shift Accounting

2021 Game Changer How many of you are already reflecting on 2020? I can’t help but feel like this year has been flying by. 2020 for many was suppose to be a year of professional prosperity and instead for many it was a year of learning, pivoting, analyzing, and contemplating both professionally and personally.... I think we all learned some valuable lessons thus far and have been humbled to some regard. With these lessons, we’ve also seen some phenomenal examples of resilience and innovation. Because of these examples, we can’t help but also feel a sense of excitement for 2021 for both ourselves and our clients. We’ve learned that preparation is key to success. Planning, budgeting, and goal setting always brings results! Let’s work together to make 2021 your year! Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #accounting #accountant #dental #chiropractor #dentistry #dentists #dentist #chiropractic #familydoctor #pediatric #pediatrics #bookkeeping #doctor #wealthmanagement #financialadvisor #businessmanagement #yeg #yeggers #exploreedmonton #yegdt #yeglocal #yegbusiness #780 #edmontonliving #madeinyeg #yegblogger #yegliving #edmonton #alberta #canada

Tip for busy entrepreneurs! Plan your meeting like a pro Meetings can either be very productive or not at all. If you’re hopping on holding one of the former, we highly recommend that you prepare the agenda ahead of time and send it out to the team. ... If everyone knows the topics of discussion for your year-end reflection beforehand and what level of involvement they’re expected to have, then the whole thing will go along much smoother. Your meeting session will be much more engaging and you have a better chance of covering everything you want to. Not sure what you should be talking about? Some of the things on our agenda include the past year’s financials and coming year’s targets, company culture, staff onboarding, and client onboarding. We even revisit our mission statement! Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #yyc #calgary #alberta #canada #yycliving #yycnow #calgarynow #calgaryalberta #accounting #accountant #money #chiropractor #dentistry #physiotherapy #sportstherapy #chiropractic #familydoctor #pediatric #pediatrics #bookkeeping #doctor #wealthmanagement #financialadvisor #businessmanagement

How do I know if I need an accountant? An accountant will go above and beyond to help your business flourish financially. We organize and analyze data to help you make sense of the numbers. Knowing what the numbers can allow you to make strategic business decisions aka allowing you to grow! So whether we are generating reports, evaluating your operations, or compiling data, we are ensuring you have all the information you need to make those money moves ... If this is the kind of business owner you wish to be then you need an accountant! Shift Accounting Calgary, Alberta Phone: (+1)403-456-2437 Email: [email protected] #dental #dentaloffice #dentallife #dentalcare #dentalhealth #dentalpractice #dentistlife #dentistry #dentistrylove #consult #humanresources #peoplepower #successfulpeople #entrepreneur #ottawa #ottawacanada #ottawatourism #ottawafoodies #ottawaphoto #ottawaevents #ottawastyle #ottawaontario #ottawavalley #ottawabusiness #ottawadentist