Finance

Opening a business bank account with a digital provider can give you a strong financial foundation in the modern business landscape. Many of today’s digital banking solutions offer lower fees, competitive interest rates, and useful digital tools.

RBC offers good chequing accounts for small and large businesses, but lacks mid-range options. BMO provides better scalability, offering a wide range of business chequing plans, each with incremental improvements in monthly fees, transaction fees, and transaction allowances.

To help you select the best fit, we review the best nonprofit bank accounts in Canada, breaking down fees, transaction limits, accessibility, and suitability for different types of organizations.

Sole proprietorships in Canada are not required to open business bank accounts. However, maintaining a separate account can make compliance easier. Business bank accounts create a clearer distinction between personal and business funds, which simplifies income and expense tracking, supports accurate tax reporting, and helps maintain organized records in the event of a CRA review.

The best business bank account depends on your business’s stage, size, and industry. You can generally find reliable offerings from Canada’s Big Five banks: Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO), and Canadian Imperial Bank of Commerce (CIBC).

You can make an invoice by generating a template from an invoicing tool (such as a bookkeeping software, invoicing software, spreadsheet, word processor, or payment platform) and filling in the relevant information. Businesses usually send invoices as PDFs, Word documents, spreadsheets, online links, or printed paper.

AI is a flexible technology with multiple applications in accounting. Most applications aid accounting teams in processing vast amounts of data, automating simple tasks, or deepening insights.

Contract accounting is a branch of accounting that specializes in recording expenses and revenue under contractual agreements. It helps businesses that deal with long-term, project-based,

Profit margin is a financial ratio that measures the percentage of revenue a company earns after paying business expenses. Understanding the different types of profit

Operating expenses (OpEx) are the costs businesses incur to support their day-to-day operations. This article will take a closer look at operating expenses, including common