
How to Decide Between Paying Bonuses vs Retaining Earnings
Bonus or retained earnings? It is one of the most important year-end decisions for an incorporated business owner. Here is how to think it through.
Strata-G provides a virtual tax manager to manage the full Canadian Tax environment.
If left unchecked, the Canadian Tax Compliance and Accounting landscape can become costly, and much time can be wasted with audit defense initiatives, when it should be spent taking your business to the next level. Our services include:
As virtual accountants in Canada, we service clients from Toronto, Kitchener, London, Woodstock and Vancouver. Next level accounting won't be possible without the latest technologies.
We employ Xero as our firm’s cloud-based Accounting platform; however, we are also Advanced Online ProAdvisors for QuickBooks, and enjoy working with both. Here is a list of the other technology systems we employ
Bookkeeping
Integration
Payroll
Tax Preparation
Time Management
Advisory
Communication
Security
And we are always willing to learn!
Of Course! We don’t just toss you the keys and request that you “ask us about the Cloud”. If you are not informed, what is there to ask?
We analyze your business needs, offer technology solutions that will streamline your processes, and provide training in three ongoing formats:
We would love to! For best results we recommend an initial discussion to assess your company, your goals and pain points, to develop a clear plan forward. The Cloud opens channels to many time saving processes and Apps for every industry, and we want to ensure we are plugging you into the best fit for your business and market. In some cases, your Advisor may be able to offer a discount by purchasing the technology directly.
Many clients face the same core challenges to varying degrees: Data entry may be poor or overly manual; concern over security of data; processes do not communicate with one another, and too much time is wasted. Therefore, we would map out the following framework to get started and then tailor it specifically to your needs:
Data Entry: A Cloud based accounting platform, we operate on Xero and value QuickBooks, with additional automated receipt capture and publishing through Hubdoc, or Receipt Bank. Who doesn’t like the idea of taking a photo of a lunch receipt and knowing it is stored and booked by the time you get back to the office?
Payroll: We utilize Wagepoint for our practice and love the automation, and compliance features. For those that require time entry or project specific costing, Workflow Max for Xero, and Tsheets for QuickBooks and Xero have automated that process as well. Both options communicate well with payroll Apps such as Wagepoint, which in turn populates your Accounting system.
Integration is key, you want your Apps to be automated and be able to communicate seamlessly from raw data entry, through to a real-time financial statement.
We strongly encourage you to speak to an Advisor

Bonus or retained earnings? It is one of the most important year-end decisions for an incorporated business owner. Here is how to think it through.

Bonus or retained earnings? It is one of the most important year-end decisions you will make as an incorporated business owner. Here is how to think it through.

Your corporate structure directly affects how much cash you keep and when. Here is how to set it up to work in your favour.
