Why Scaling Back Might Actually Be Better for Your Firm

With the advent of cloud accounting came an enticing promise: new technology will allow you to grow your business bigger than ever before. While this seemed like a lofty ...

Top 3 Perks and Benefits to Attract and Retain Talent

In today’s competitive hiring market, many employers find it harder than ever to both attract and retain high-performing professionals. However, focusing on HR and offering ...

How Accounting Firms Can Profit From Payroll Services

For decades, most accounting and bookkeeping firms have taken a stanch “I don’t do payroll” stance. And with good reason. Payroll can be time-consuming, error-prone, and at the ...

How do I handle overtime pay in Canada?

Welcome to Ask An Accountant, where we take your payroll and accounting queries and help you make sense of them. Whether you’re doing payroll for the first time or you’re a ...

A Beginner’s Guide on How to Conduct a Performance Review

Every employer strives to have the perfect team—who wouldn’t? The problem is, simply recruiting the best of the best doesn’t necessarily mean they’ll be top performers day in ...

Knit’s New Ultimate Payroll Package: All Our Features for One Price

For years, Knit has worked to provide accountants and bookkeepers with the ultimate payroll platform. Now all of those features are available for just $29/month + $3/employee ...

How to Choose a Payroll Schedule + FREE Payroll Calendar

In payroll, it’s all about the dates. For employers, that means choosing a payroll schedule that will dictate how frequently you pay your employees. But while this might seems ...

Customer Stories: Sherri-Lee Mathers and Bookkeeping's Identity Crisis

Today’s tech-savvy bookkeepers are in the midst of an identity crisis.

Last-Minute Tips For Filing T4s

T4 season is in full swing and that means some long days (and nights) for bookkeepers and accountants. If you’re scrambling to get everything done by the deadline, we’ve put ...

The DNA of a Great Client Onboarding Process

As an accountant, you’ve likely already figured out how to save time by creating an onboarding process that's as quick and efficient as possible.   But while your time is ...

What is the Workers’ Compensation Board (WCB)?

Welcome to Ask An Accountant, where we take your payroll and accounting queries and help you make sense of them. Whether you’re doing payroll for the first time or you’re a ...

High Times: Accounting for Cannabis Companies

On October 17th, 2018, Canada legalized recreational pot; the second country in the world to do so. As a result, an estimated $4.3 billion Canadian cannabis industry was ...

Convincing Accounting Clients to Move to the Cloud

If you’re a cloud bookkeeping or accounting firm, you already know the many benefits of using technology to make your job faster, more efficient, and more user-friendly. ...

What is a Record of Employment (ROE)?

Welcome to Ask An Accountant, where we take your payroll and accounting queries and help you make sense of them. Whether you’re doing payroll for the first time or you’re a ...

The Beginner's Guide to Social Media Marketing for Accountants

It’s no secret that social media has become an integral part of how we communicate today. But while you may be an expert at sending your friends adorable cat videos or using ...

Rethinking 9-to-5: The Rise of Flexible Work Hours and Telecommuting

For decades, the nine-to-five work schedule has reigned supreme in offices across North America. Regardless of someone's commute, schedule, or whether they consider themselves ...

Customer Stories: How Logojoy Grew at Hyperspeed With Knit

Meet Dawson Whitfield, CEO of Logojoy, where logos are made easy with the help of AI. Just five months from launching, Logojoy has evolved from a one man-show, to an ever ...

Customer Stories: How Knit Lent A Hand To Lending Loop

It was mid 2014 when Cato Pastoll and Brandon Vlaar started building their dream company, Lending Loop. Fresh out of university and full of drive, they spent their weekdays ...

Customer Stories: Overcoming Small Business Struggles With Serind Labs

Serind Labs is a Toronto-based design and development agency that specializes in building beautiful applications for small businesses and startups. They work with web ...

Customer Stories: Tread Moves Upward With Knit

Moving with you from the ground up - that’s the idea behind Tread, a mobile construction application. The construction industry may have the reputation of lacking in ...

What is a taxable benefit?

Welcome to Ask An Accountant, where we take your payroll and accounting queries and help you make sense of them. Whether you’re doing payroll for the first time or you’re a ...

What is vacation pay?

Welcome to Ask An Accountant, where we take your payroll and accounting queries and help you make sense of them. Whether you’re doing payroll for the first time or you’re a ...

A Beginner's Guide to PIER Assessments

During the busy tax season, the last thing you want to do is respond to a Pensionable and Insurable Earnings Reviews (PIER) assessment from the Canada Revenue Agency (CRA). ...

Your Year-End Payroll Compliance Checklist

Whether you work with an accountant or you use a payroll software solution like Knit to manage your company's payroll, wrapping up the fiscal year can be an overwhelming ...

The Business Leader’s Bible: How To Become A Better Decision Maker

Decision making is an important part of everyday life, but the stakes are far higher when your decisions impact your business. Young and fast-growing companies are especially ...

What is the difference between employee and independent contractor?

Welcome to Ask An Accountant, where we take your payroll and accounting queries and help you make sense of them. Whether you’re doing payroll for the first time or you’re a ...

6 Reasons Accounting Firms Should Leverage Payroll Software

Let’s face it, accounting firms are not too fond of payroll. Processing payroll is a tedious, repetitive, time-consuming, and error-prone process. What’s worse is that ...

Customer Stories: How CloudCPA Is Modernizing Accounting With Knit

Over the past few decades, accounting has evolved from pencils and calculators, to cloud computing fuelled by cutting-edge software. And while some accountants have been slow ...

Tips For A Stress-Free Payroll Year End Process

The payroll year end process is serious business. It’s a task that requires time, knowledge, and a lot of patience in order to accurately calculate taxes, compensation, and ...

What is a Business Number?

Welcome to Ask An Accountant, where we take your payroll and accounting queries and help you make sense of them. Whether you’re doing payroll for the first time or you’re a ...

Find Your Niche: How to Focus Your Firm's Effort

Accounting has generally been viewed as a one-size-fits-all service where any customer is the right customer. The problem with this approach is that instead of doing one thing ...

What is back pay?

Welcome to Ask An Accountant, where we take your payroll and accounting queries and help you make sense of them. Whether you’re doing payroll for the first time or you’re a ...

Kissing Billable Hours Goodbye

Billable hours are a cornerstone of the accounting industry. For decades, the system has provided a clear and transparent way to keep track of who is doing what. Firms simply ...

Customer Stories: How Lisa Channell Helps Her Clients Get Payroll Perfect

Lisa Channell is not your average bookkeeper. Instead of sifting through shoeboxes full of receipts in a musty old office, you’re more likely to find Lisa using the latest apps ...

How To Write A Job Offer That’s Irresistible

You’ve spent hours filtering through resumes, interviewed dozens of potential candidates, and finally selected someone that you think is the perfect fit for the job and for ...

How do I switch payroll providers?

Welcome to Ask An Accountant, where we take your payroll and accounting queries and help you make sense of them. Whether you’re doing payroll for the first time or you’re a ...

5 Recruitment Tips for Small Accounting Firms

Small teams can be the best teams, but only if you start with the right people. For small accounting firms, this means recruiting people that are not only great at their job, ...

There Is No “Perfect” Candidate: Reimagining the Interview Process

This story will sound familiar: A company has an open position that needed to be filled yesterday. The interview process begins and involves several members of the company. The ...

What is a T4 Tax Form?

Welcome to Ask An Accountant, where we take your payroll and accounting queries and help you make sense of them. Whether you’re doing payroll for the first time or you’re a ...

Standing Out: A Beginner's Guide To Marketing For Accounting Firms

20 years ago, moving from one accounting firm to another was something few people thought about doing—let alone actually did. However, times have changed, and these days many ...

Startup Financials & Data You'll Want In Your Pitch Deck

So you’ve taken the plunge, launched your startup, gained traction, and now you’re looking for external funding. You might not be a CFO or an MBA, but that won’t matter - ...

Why You Need An Org Structure (And How It Makes You a Hiring Pro)

All great companies start with a vision. At some point, your vision will include an “organizational structure” - the “whos” and “hows” of your company.

Why Good Bookkeeping Solves Your Startup Problems

Proper bookkeeping might not close the next big deal for your business. But when done right, it will tell you exactly where to devote your energy.

Contractors vs. Employees - When to Hire Which?

Let's start with the most basic way to think about business - running one successfully boils down to smart resource management, especially who you hire and how.

Why Outsource Payroll: Your Business Costs Fully Explained

If you’re reading this, chances are you run a business.

The Quick and Dirty Guide To Writing Killer Job Posts

If you're after top talent, you better make sure you're bringing your top game to attract that ideal candidate. But let's face it - you also have fires to put out, deadlines to ...

Government of Canada's HR & Payroll: Will an Open, Two-Way Conversation Take Place?

A bitter principle follows titanic projects - when they fail, they fail in titanic proportions.

Payroll Remittance - Penalties for Missing a Payment

Filing taxes can be overwhelming, especially when the threat of penalties as harsh as jail loom overhead. Thankfully, such sentences are rarely ever imposed. Nonetheless, ...

A Quick Guide to 2018 Canadian Payroll Source Deductions

Having tons of valuable information compiled in one place makes everyone’s lives easier, so we put together tables for every type of Canadian Payroll Source Deduction you could ...

The Bonus Tax Method For Payroll

Bonus payouts: everyone loves them. What everyone doesn’t love is having to pay taxes on their hard-earned bonuses. Luckily, not everyone has to.