Articles

Bookkeeping

Bank Reoncilaitons in QuickBooks Online: Step-by-Step

Before you start Get the bank statement for the month you’re reconciling (PDF or paper). Confirm you’re reconciling the correct bank account in QBO (e.g., “TD Chequing” vs “TD Savings”). Make sure you’ve entered or imported all activity up to the statement end date: Bank feed transactions have been Added/Matched (not left “For Review”), and/or Any missing cheques, transfers, or…

Comments Off on Bank Reoncilaitons in QuickBooks Online: Step-by-Step
December 22, 2025
Bookkeeping / Main Pages

Essential Steps for Effective Bank Reconciliation

Bank reconciliation is a crucial bookkeeping task that ensures your accounting records align with your bank statements. Reconciling your accounts regularly helps identify errors, detect fraud, and maintain accurate financial records. This post outlines the steps involved in performing a bank reconciliation manually, with references to how this process works in QuickBooks Online (QBO), QuickBooks Desktop, and Xero. What Is…

Comments Off on Essential Steps for Effective Bank Reconciliation
June 20, 2025
Tax Tips

Child Care Expenses

Child care expenses are claimable if paid to a third party while you or your spouse work or study, with only the lower-income spouse eligible to claim. The child must be under 16 or have a disability. Receipts with specific details are required to support claims for various childcare services.

Comments Off on Child Care Expenses
May 14, 2025
Newsletters / Tax Tips

2020 Q2 Tax Tips & Traps Newsletter

I am pleased to announce that Tax Tips and traps is back! In this quarterly edition: Tax ticklers - Some points to considerStarting a business and not getting paid - Can I collect EI?Tips- Reporting IssuesReal estate sales- Taxable or not?Contributions of goods and services to an NPO- Tax ImplicationsHome accessibility renovation credit - Increase in Home Value?Working from home…

Comments Off on 2020 Q2 Tax Tips & Traps Newsletter
May 16, 2020