liability

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...

Read More

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...

Read More