BY SIMONE J. SMITH

“I received a call, and the client started crying. She had a business, her bookkeeping and taxes were everywhere, and she was feeling overwhelmed. She only used Excel, and she wanted to save money.”

“I can do what you want me to do, but that won’t help you. How about we offer you something that will help you out.”

In the fast-paced world of business, where attention is often drawn to flashy marketing campaigns and innovative products, there exists a silent hero that operates behind the scenes, largely unnoticed yet indispensable to the success of any enterprise or small business. Meet Nuages Consulting Inc, Chartered Professional Accountants, Certified Public Accountants – the unsung guardian of financial integrity and stability.

In the dynamic landscape of entrepreneurship, it’s easy to overlook the crucial role that a good bookkeeper plays. They are the backbone of our financial operations, ensuring that every dollar is accounted for, every transaction is recorded accurately, and every decision is grounded in reliable data.

Beyond the mundane task of number-crunching, a skilled bookkeeper serves as a strategic partner, offering valuable insights and guiding prudent financial decisions. From budgeting and forecasting to tax compliance and financial analysis, their expertise is indispensable in navigating the complex terrain of business finance.

To think; the smallest financial oversight can have far-reaching consequences, and this is why the value of a proficient bookkeeper cannot be overstated. They are the guardians of fiscal responsibility, ensuring that the financial health of your business remains robust and resilient in the face of uncertainty.

“Having a good bookkeeper onboard provides businesses with the clarity and transparency they need to steer the ship in the right direction,” shares Gloria Kapuku, CPA and founder at Nuages Consulting Inc, Chartered Professional Accountants, Certified Public Accountants. “These reports enable us to identify trends, spot potential risks, and capitalize on opportunities for growth.”

“We have a meeting first; during our meeting we let you explain your system. I need to understand you. I then share our process and let them see how things could be. People are resistant, so we take things slowly.”

The full bookkeeping system involves the systematic: recording, organizing, and summarizing of financial transactions within a business. It begins with the initial entry of transactions such as: sales, purchases, payroll, and expenses into the accounting system. Subsequently, these entries are categorized and posted to appropriate accounts, ensuring accuracy and compliance with accounting principles.

Throughout the cycle, reconciliations are conducted to match records and identify discrepancies, followed by the preparation of financial statements, including: the balance sheet, income statement, and cash flow statement. Lastly, the cycle culminates in closing entries, ensuring that revenue and expense accounts are reset for the next accounting period. Overall, full-cycle bookkeeping provides a comprehensive overview of an organization’s financial health, facilitating informed decision-making and regulatory compliance.

“One of the first things that I tell my clients,” Gloria shares, “Is let’s set up proper procedure. We set up a step-by-step plan and enforce the workflow. We meet every month to ensure you are staying on course. Then we meet every three months, and then we do a yearly check -in.”

Incredibly, Nuages Consulting Inc, Chartered Professional Accountants, Certified Public Accountants have fantastic resources on their website including Mentorship and Coaching Services that will help you achieve your personal, business, or career goals. Their goal is to introduce you to new ways of thinking, challenging your limiting assumptions, sharing valuable life lessons, and much more.

They have your bookkeeping basics, a DIY in how to keep your books and records clean. Topics of discussion include:

• Why is bookkeeping important?
• Best way and software for bookkeeping
• Important activities in bookkeeping
• How to master bookkeeping

Bookkeeping practices

• Mix or separate personal and business income and purchases?
• What are internal controls?
• Bank transactions, electronic or paper format?
• What is bank reconciliation?
• What are financial reports?
• What are records?
• Excel worksheet or accounting system?
• Tax forms.
• Accountants, CPAs, and tax professionals/planning

The team also does a deep dive into the numbers – financial statements and balancing the books. They also have a Bookkeeping – Advance Mentoring and Coaching Sessions (10-15 hours) where they explore different types of bookkeeping accounts, what they are, what they do, and how to book them. These sessions include:

• Accounting Basics
• Debits and Credits
• Chart of Accounts
• Bookkeeping
• Accounting Equation
• Accounting Principles
• Financial Accounting
• Adjusting Entries
• Financial Statements
• Balance Sheet
• Working Capital and Liquidity
• Income Statement
• Bank Reconciliation
• Accounts Receivable and Bad Debts Expense
• Accounts Payable
• Inventory and Cost of Goods Sold
• Depreciation
• Payroll Accounting
• Stockholders’ Equity
• Nonprofit Accounting

Ready to get started? You can book a 15-minute free consultation for any of the topics below:

• “Ask us anything” service provides a free consultation where you can ask us about tax, accounting, bookkeeping, incorporating and more.
• Book a 15-minute scheduling call with us to discuss which mentorship and coaching is appropriate for you!
• Tax preparation, where the focus is on operating your business and personal affairs, knowing that your tax needs are being fully met.

So, the next time you glance over the balance sheet, or pore over financial statements, remember the silent hero who works tirelessly behind the scenes – Nuages Consulting Inc, Chartered Professional Accountants, Certified Public Accountants, whose meticulous attention to detail and unwavering dedication keep the wheels of your business turning smoothly.

BY SIMONE J. SMITH

How did it come to this? Taxes… You always push them off until the last minute. Now, where did you put that receipt? Suddenly, the phone rings, startling you. You answer nervously “Hello?”

“Good afternoon, this is Agent Jones from the Canada Revenue Agency. I’m calling regarding your overdue tax returns.”

Your eyes widen in horror and you frantically search for an explanation. “Oh, uh, hi… Yes, I’ve been meaning to get to those. Just a small delay, you know, busy with business and all…”

The agent say’s firmly, “I understand, but we can’t overlook the matter any longer. Your taxes are considerably overdue, and there are penalties accruing. We need you to file them immediately.”

Your heart sinks as the weight of the situation hits you. “I… I’ll get right on it, I promise. Just give me a little more time.”

“I’m afraid we can’t grant any more extensions. You have to take action now, or we’ll have to pursue further measures.”

You hang up the phone, feeling overwhelmed and trapped. You slump back into your chair, staring blankly at the computer screen.

That’s right everyone; it is tax time, the dreaded season of the year, one that makes the majority of us anxious, but today we are going to introduce to the community a solution to your tax season trauma.

Founded in 2000, Nuages Consulting INC., Chartered Professional Accountants have had a single mission: to be the most successful, supportive, creative, and community focused Chartered Professional Accountants in the GTA. Nuage is French for Cloud, and this strategically represents the fact that even though they are centralized in Toronto, Ontario, Canada they are virtually everywhere. They have a team of: educated, determined, intelligent and energetic consultants with a passion to approach each of their clients with fresh eyes, and develop customized and unique strategies to assist you with your world-wide income.

They partner with their clients from start to finish, focusing on their needs while providing new ideas, developing effective strategies, and designing high quality and scalable solutions. They exist to solve the critical issues facing their clients, both large and small.

I had a chance to sit down with founding partner Gloria Kapuku, CPA, and she shared with me what separates Nuages Consulting Inc. from other consulting companies. “Our unique approach is not only what differentiates us, but also what makes us successful. We provide a broad range of services and solutions to help organizations: facilitate change, achieve their vision, and optimize performance and productivity.

We examine what organizations are doing to stay relevant and competitive in this fast-paced world, and which ones are doing it best. We then strategize using smart tools and global resources in order to understand the implications of every choice our clients can make.”

“How does your firm approach client relationships to build trust and long-term partnerships, especially if they are in the middle of a tax nervous breakdown?”

“With every single client, we take our time,” Gloria shares. “We partner  with our client from start to finish. There is no rush. It is like having a best friend, someone who listens to your issues, allows you to vent, and then helps you come up with solutions. We give them confidence; taxes are a daunting experience.”

“What specific services does your firm offer that sets it apart from others in the field?”

“We offer complete income tax services for: businesses, individuals, partnerships, charities, and not-for-profit organizations.  We don’t just file and go, we explain information to our clients as simply as possible to help them better understand their tax situation and the impact that various decisions may have on their return.”

​Nuages Consulting Inc. tax services include:

• Corporate Tax Return
• Self-Employed Tax Return (Sole Proprietorship)
• Personal Tax Return
• Sales Tax return (HST and GST)
• Payroll Taxes (PD7A, T4 slip, ROEs and Dividend)
• Investment Income

What I realized when speaking with Gloria is that what really differentiates her consulting firm from others is the personal care that is put into their client support. She shared with me six FREE services that clients get with signing up with a Nuages Consulting Inc., Chartered Professional Accountant, and Certified Public Accountants:

• They will represent you in all CRA matters, even making calls to the CRA on your behalf.
• Free re-files – If you forgot to include anything, they will re-file for you FREE of charge.
• CRA Audit and Re-assessment.
• Pre Return Assessment (Review the process of your tax year)
• Post Return Meeting (November). They reconnect with the client and see how their client is doing. With these updates, they can help their clients plan for the next tax season.
• Open Door Policy – Anything you need we will answer FREE of charge.

“No one else is doing this in the industry,” Gloria shares. “It is a lot of work, which is why it is not being done. We do it because we are committed to bridge the gap between complexity and clarity when it comes to taxes. We want to equip individuals and businesses with the insights needed to navigate the intricate world of taxation successfully.”

I visited their website, and found that they also offer a Bootcamp and Knowledge Hub. It is a six hour Small Business Bootcamp that provides access to funds, grants, and loans for your business, not-for-profit, or charity. They dive deep into vital topics like: business registration, bookkeeping, business structure, marketing, and funding, guided by our experts. You will also receive six hours of CPD/CPE credits!

The Knowledge Hub is a blog series focused on unraveling the complexities of taxes and holds numerous benefits for readers navigating this intricate landscape. Taxes, often viewed as convoluted and daunting, can intimidate individuals and businesses alike. However, this well-structured blog series serves as a beacon of clarity amidst the confusion. By stripping away the dense jargon and presenting information in a straightforward manner, the Knowledge Hub demystifies tax concepts, empowering readers with understanding and confidence.

Most importantly, all consultants and accountants at Nuages Consulting Inc. stay current with changes in Canadian accounting standards and tax laws, which is essential for a firm to provide clients with accurate and up-to-date advice.

“We do a lot of professional development and educational programs,” Gloria shares. “Every month we do about 10 hours of educational programs (CPE ). We pay very close attention to trends in the financial market, and we sit down with the CRA and go over changes.”

Time to take charge of your financial future? Visit Nuages Consulting Inc., Chartered Professional Accountants, Certified Public Accountants to ensure your taxes are completed accurately and efficiently. Don’t wait until the last minute—let their expert team guide you through the process and maximize your returns.

Your financial peace of mind awaits! Contact them at info@nuages.ca, or 416-477-1324.

BY SIMONE J. SMITH

“Fortis Cadere Cedere Non Potest, (The Brave May Fall But Never Yield).”

The school was envisioned as a remedy for the social deformity in which poor Black boys were allowed primary education only, and since its inception, Kingston College’s students have produced impressive results in academic and sports fields. Over the course of years, the college has won numerous awards and championships, and till this day, Kingston College offers a wide variety of extracurricular activities and clubs, including: a football club, rugby club, track team, swimming team, basketball club, hockey club, and lacrosse team.

Yes, any young man who has attended Kingston College walks away with a sense of pride, and this week, KC Alumni, you have a lot to be proud of. KC Alumni. As a KC Alumni (1960 – 1966), there is a pride Dr. Pitter feels about the quality of education he received during his time there, and a belief that his alma mater provided him with a solid foundation of: knowledge, skills, and experiences that have helped to shape his life and his career.

He was Sergeant Major of the school’s cadet corps and was the first Jamaican to receive the Duke of Edinburgh Gold award; presented to him by the duke himself, HRH Prince Phillip, in a private ceremony at Mona Great House.

In 1975 he graduated from the University of Waterloo with a BSc. in chemistry and worked for several years as a Research and Development Chemist, before studying medicine in Mexico. He had an opportunity to advance his career and actually practice medicine in Mexico. Adding to his resume, he was a physician and nutrition adviser at Atlas Clubs, as well as a member of the Chemical Institute of Canada and the Canadian Medical Association.

His most recent accomplishment is the 2019 establishment of his Canada-based supplement company FORTISMAGNA™. His company offers a variety of sports and health supplements for athletes to elevate their performance and achieve their athletic goals. The company draws inspiration from the food and practices of Jamaican athletes globally known for their monumental feats in speed and endurance. With over 33 years of experience in athletic performance, Dr. Pitter has been asked, and now provides answers about Jamaica’s secret for achieving monumental feats of speed and endurance.

He has formulated FORTISMAGNA™ products leveraging his vast knowledge about the Jamaican diet and using current research findings as guidelines. Jamaican athletes consume superior quality produce, with high quantities of fish, fruits, and vegetables and low to moderate amounts of meat. Their diet is high in simple and complex carbohydrates, a range of starch and fats with a small amount of protein to allow them to build lean muscle mass and excellent endurance levels.

“This is more for runners, athletes in general, but I know a lot more about runners.”

I had a chance to dialogue with Dr. Pitter, and the genesis of FORTISMAGNA™ was revealed…

“Fortis (Strong) Magna (Best) made complete sense to me because of my time at Kingston College. We were classified as the Fortis mainly because we were very good at sports.

I was at my cousin’s home one day, and I was getting assistance putting the website together. I was told that I needed to have a name for my product line. The name FORTISMAGNA™   just came to me. I can only describe the experience to be similar to a download. I remember the young man looked at me and said, ‘Yes! That is a good name.’

What some people do not know is that FORTISMAGNA™ was initially a service provider. What we did was provide options for individuals who needed surgery (let’s take for example a knee replacement surgery), and could either not afford it, or had been put on an extended wait list. As a physician, I am well aware of the cost of surgeries, so I would make arrangements to send patients to Mexico, Ecuador, Columbia so that they could get their surgeries done. That was the origin of FORTISMAGNA.”

I was of course curious about his passion for medicine. Dr. Pitter shared with me a distinct memory.

“People in my town used to come to my grandmother, because they saw her as a healer. They would come to my grandmother for everything. I would look at some things (extreme sores on a foot), and say, ‘Grandma, there is nothing you can do about that.’

She would respond, ‘Yes, come go to the store for me.’

She would send me to get things, take care of the person who came to her, and in a couple of weeks, that person would come back, and the sore would be gone. I was shocked! This was when I first grew a love for medicine.”

His journey in medicine had begun.

“I had the incredible opportunity to work as an analytical and product development chemist. I studied medicine after that, and I had a chance to work in Mexico.

I did two Canadian exchanges, and two YMCA exchanges, and then I finally migrated to Canada in 1969. I studied as an acupuncturist, and also worked as a physician in Newfoundland for 16 years. I worked for the government in Newfoundland, and I did emergency work in 20 towns.”

“Dr. Pitter,” I asked, “There are a lot of supplement companies out there, what makes yours unique?”

“Well,” he replied, “There are products out there that are not tweaked; they are not efficient, or effective.  My years of study have provided me with the knowledge to make these products better. I have made some great products, and I have made companies some serious money over the years.”

Today, he is excited to share his first-hand knowledge, and products to the community. FORTISMAGNA™ offers a variety of sports and health supplements in Canada, the United States, and Latin America to help athletes take their game up a notch and achieve athletic success.

All FORTISMAGNA™ products are manufactured in the USA in accordance with FDA guidelines. They meet specifications that maximize performance outcomes. The brand covers a gamut of sports and performance supplements that are essential in an athlete’s training and journey. They are designed to drive consumers to achieve athletic goals, whether running faster, jumping higher, or lifting more.

One of the company’s most popular products, POWA Mix, is a pre-workout supplement that helps athletes: increase their energy, increase focus, maintain endurance, and promote muscle mass development while training. Unlike other pre-workouts in the market, it does not cause sleep disturbances even if consumed at the end of the day, allowing athletes to get their much-needed rest.

Another favourite is FORTISMAGNA™ Recovery Blend post-workout supplement, which contains a high carbs-to-protein ratio of 1:1. It enables athletes to maximize muscle recovery and grow lean mass without fat gain.

In addition to helping athletes train better, FORTISMAGNA™ supplements address some other health concerns. Pro Force enables them to shed unwanted pounds safely and effectively to stay agile. Made with natural ingredients like green coffee beans, raspberry ketones, and Garcinia cambogia, it boosts metabolism, controls appetite, increases energy, and supports the breakdown of fat cells.

Their Booster Advance Immune Supplement is a multivitamin plus complex that helps build a robust immune system, and their Focus Mushroom Complex brings them the goodness of mushrooms to support brain health, promote energy levels, and improve immune health.

This company stands out as a supplement brand for athletes due to its research-backed development, the exceptional quality of its products, and proven results.

BONUS: Soon, they will also be adding gear and apparel to their online store, so stay tuned for that.

For more information visit FortisMagna at https://fortismagna.com/