Entries by Maureen

Are you Prepared for an Audit from Hell? – Part ONE

Remember, there is a compelling reason why your bookkeeper or accountant tells you to save all your paperwork. We’ve been exposed to audits before and can anticipate what is required, but I and a number of accountants I’ve spoken to regarding this experience, have not seen an audit delved into this deeply – especially with a client that has never been late with filing and paying payroll liabilities, HST or corporate taxes.

5 Tips & Tricks for QuickBooks Online (QBO)

In the past month I’ve spent numerous hours training new and transitioning clients in QuickBooks desktop and QBO. While some are new to either version, I’ve found those transitioning from the desktop version to the online version experiencing a bit of a culture shock. To ease the transitioning hiccups, here are 5 tips and tricks for QBO to make the entering and retrieving of information go a little smoother.

Time to Move from QuickBooks Desktop to QuickBooks Online (QBO)?

QBO really started to have a presence in Canada about a year ago. It’s been a viable alternative to the desktop version for a number of years in the United States. When it first came out in Canada, I had some real issues with the processing of information and locating or editing it when posted. Payroll wasn’t available at that time either. All of those issues now seem to now be resolved.

Reducing Canadian Payroll Taxes with a Tax Waiver

You may be able to reduce your payroll tax deductions if you pay for child care, make regular contributions to a Registered Retirement Savings Plan (RRSP), or have other expenses that are deductible for tax purposes.

2 Great Accounting Software Deals for Businesses

I’ve been in the accounting, tax preparation and training business for a number of years. And over those years, I’ve developed some great relationships with customers and vendors. So it has to be big for me to get excited about sharing these 2 great deals for businesses.

QuickBooks 2014 Payroll Update

I’ve received a number of emails lately regarding problems updating QuickBooks 2014 Payroll. Even though customers are registered for QuickBooks payroll, the automatic updates are not recognizing payroll which expires June 30, 2014. At our office some of the computers updated payroll automatically with an expiry of December 31, 2014 while others didn’t. We are all on the same Windows operating system.

3 Rs of Child Care – Rules, Receipts and Regulations

Here at The Montana Group, we do the bookkeeping for 2 large Child Care facilities located in York Region. Whenever I get an opportunity to discuss challenges of the industry with the Executive Directors, I’m surprised and impressed by the regulations in place to help protect the children. During tax season I regularly inform clients of the rules pertaining to claiming child care expenses and the receipts that are required. The following is a summary of my discussions regarding the 3 Rs of Child Care:

The Montana Group – Offering Bookkeeping Services for Realtors

Are you a Real Estate Agent in the Newmarket area? In this busy real estate season, do you struggle with filing your own paperwork on time to avoid government penalties? Do you have a solid handle on your financial position? Did you know the Montana Group offers excellent bookkeeping services for Realtors?

Canadian EI (Employment Insurance) and Family Members

Last week a client of mine received a PIER report requesting that he pay the employee’s EI that wasn’t deducted on the earnings shown on the T4, and the employer portion of the EI. When preparing payroll in the summer of 2013 he didn’t deduct EI from his daughter’s earnings, but the T4 showed insurable earnings and no contribution. His question to me once he received it was “Why do I have to pay EI on my daughter. She’s only 14 and I don’t have to pay it on my wife?”

QuickBooks Tips and Shortcuts

Whether you’re trying to catch up on your 2013 bookkeeping in preparation for 2013 tax returns, or have decided this is the year to do the bookkeeping correctly, I thought sharing these QuickBooks tips & shortcuts might make your life easier.