James D. Peros C.A. C.P.A

Scanning Your Way toward a Paperless Office Scanning documents can significantly reduce the cost of handling and storing paper. Thanks to modern technology, we are moving, albeit slowly, toward a paperless office.  Although this transformation within the workplace has been anticipated for decades, we are still bombarded with paper every day. Using paper can often be convenient; however, paper use comes at a price. Although the cost of an individual box of paper may not be significant, over time, paper costs can add up both for the paper itself and also for the handling, sorting, filing and, of course, long-term storage. As well, the cost of destroying paper documents must be considered. Document disposal is usually carried out for two reasons: to avoid storage costs and because the legal retention period has expired. Until everyone embraces digital media, businesses should consider scanning documents to reduce storage costs. There are three basic types of image sc...

MONEYSAVER Cost-Cutting Ideas A careful review of your costs should reveal many opportunities for savings. Even though Benjamin Franklin’s oft-quoted phrase “A penny saved is a penny earned” can no longer be taken literally now that the Royal Canadian Mint has removed pennies from circulation, nevertheless saving money by cutting costs is simply good business. When budgeting for 2014, the thrifty owner-manager may want to consider the following ideas. Staff Costs 1) Review the employee medical benefit package: Can deductibles be raised and luxury benefits such as massage therapy eliminated? Get new quotes. Ask employees whether they are willing to supplement medical coverage with payroll deductions for extended coverage. 2) Review employee hours: Check the overtime hours for any seasonal or other pattern that would permit the use of less expensive temporary or contract workers. Consider the possibility of outsourcing sales: Independent sales representatives may be willing to wor...