As a small business owner you’re faced with having to wear multiple hats at any given time. It’s unreasonable to expect to be experts in every field, anywhere from marketing to accounting, not to mention maintain your core product or business. As a result, entrepreneurs and small business owners don’t always have the time or resources to gain a firm understanding of the fundamentals of accounting and bookkeeping. It can be costly and overwhelming. So in efforts to make things a little clearer, I have rounded up 2 valuable resources that are free or very inexpensive. 

As a CPA and a small business owner myself, I believe it is important to understand, or at least grasp, some business accounting fundamentals. The reason is that it can help you keep accurate, up to date documentation to ensure you are claiming all eligible expenses.  I can not stress this enough!

Learning the fundamentals can save you from making costly mistakes

More importantly, educating yourself as a small business owner will help you avoid making costly mistakes.  For example, knowing the difference between a contractor and employee, or correctly claiming vehicle expenses and home office expenses, will avoid getting hit with a costly Canada Revenue audit or fine.

Resources to help small business owners with accounting fundamentals and proper bookkeeping

Below you will find two links of organizations that provide free or very inexpensive courses for small business owners (online) that can help with understanding the necessities of business fundamentals.

Free courses

https://www.thebalancesmb.com/free-online-courses-on-about-small-business-canada-2946978

Very inexpensive courses for small business owners

https://www.udemy.com

If you’re a Hamilton small business owner or want to know how a CPA can help your business, send me an email at: susanivanovics@rogers.com