Are you Ready for a Recall?

Are you Ready for a Recall?

When you work in the consumer packaged goods sector of the food industry, it’s good to have the mindset that a recall could happen. This is one of those “prepare for the worst and hope for the best” situations! There are several different reasons why you might have to...

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Finatical Times - Special News Bulletin Government of Canada Extends CEBA Loan Forgiveness Repayment Deadline to December 31, 2023 Kerry Foster from Finatics Accounting Solutions is at the scene now, Kerry, what was the announcement? “Well Michael, Prime Minister...

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Happy New Year Happy New Year and Fiscal New Year (for those lucky enough to have a double celebration!). With a new year, there are new beginnings, new opportunities, and new adventures. At Finatics, we started our New Year celebrations early when we welcomed our...

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Meet Your Team-Gemma your Virtual Controller

Gemma Lee, our new Finatics Virtual Controller, wants people to feel comfortable when they’re talking about numbers.  “It’s hard to make numbers fun, and most people see it as a chore,” explains Gemma, who hails from England but has lived in Canada for 16 years....

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Understanding your business margins

Understanding your business margins

Ask any finance professional, and they will tell you that it’s important to understand your business margins. Why?  Profit margins are ratios that help tell you how well your business is doing by gauging profitability.  Calculating profit margin determines...

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Importance of Inventory Tracking

Importance of Inventory Tracking

When you think about inventory tracking, you’re most likely thinking about physically counting goods or maybe scanning things in and out. Inventory management is more than checking the shelves or warehouse. Robust accounting processes and accounting software help...

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New to QBO: Price Rules– automate different prices for different customers Contractor Management – track payments for the appropriate tax slip Employee tax-new setting setup and new sections for tax settings Tags-customizable labels to track information your way...

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How to determine a winning pricing strategy

How to determine a winning pricing strategy

Determining how to price your product or service is critical to success. When you are considering what to charge your customers, it’s important to know your costs by: ItemGross margin by itemVolume of sales by item If you have multiple items in a product line, each...

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