If you are a Sole Proprietor Should you Incorporate?

Although this is a QuickBooks site and having been in the accounting profession since 1988, I also consult with a number of clients that are still in the starting stages of their Canadian company. With most clients of this type, they have set up their business structure as a Proprietorship, which is okay, depending on the type of industry they are in and the amount of before tax net income they...

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QuickBooks Quik Tip on Banking

There may come a time when you have to do some banking, wherein there is a deposit, but it does not relate to a Customer Payment for which you would normally use Receive Payments. This could be a loan or shareholder’s contribution in which there is a cheque to deposit. Not only that but you would like to receive some cash back to replenish your Petty Cash float. Here’s how you would...

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