taxdetective-Sandusky-Register

I have that on good authority. I hosted a panel on adding value at the IPBC conference last month, and that was Jeff MacFarlane's message. Jeff is a CA from Medicine Hat. Jeff hopes bookkeepers will step up to act as go-between between him and his clients. Why? He loves the technical work, and people interaction takes away from his ability to focus on the technical stuff that he loves. There's only so many hours in the day. There are exceptions though. Not everyone feels that way, or do they?

Accountants want your work, the technical work that is, but they really, secretly wish you'd find someone else to tell your story to, and to ask your questions, and definitely, they want you to show up organized already. They figure most questions could or should be answered by someone else, for example your bookkeeper. But what if you don't have anyone to ask? Can you at least organize your information to minimize the time it would take to communicate everything the accountant or other professional needs to know?

Take me for example, I love the client interview process.  In fact, if you don't agree to the initial three hour interview along with your significant other, which by the way, you pay for, I won't even consider you as a client. The thought of planning to spend three hours with you, I love that part of what I do, more than doing the work even, but it horrifies accountants like Jeff. Intake and the exit interviews should be no more than ten minutes on either end, less, if possible. That shocks me, but then I'm me, not them...and I'm looking for what they haven't thought to tell me that could bite.

So I've come up with a way to help out accountants like Jeff, and other professionals, like lawyers, notaries, etc. to cut down on the amount of time have to spend with you, and if you take over someone else's finances, like your parents, or a sibling or a friend down the street, this is a great way to gather the information you'll need to convey to the professionals you'll hire. 

At a legal workshop I attended in January we were advised of new rules in BC for assumption of Power of Attorney. The lawyer or notary has to advise you of what accounts, assets and liabilities you are to be responsible for when you assume the role. So you'd need what I've created, not just for the accountant, but for the Lawyer, Notary, Power of Attorney, Representative or the Executor of your Last Will and Testament.

That's why I've written it all down, the questions to answer. In part, it's because I need to give my husband something to work with if I'm no longer competent or dead and he has to hire a new accountant. His only other alternative is to hang out at CGA conventions to find a new wife. Recently CGA BC required me to advise them of who my husband's 'Assisting Accountant' will be. I need to hire such a person ahead of time, or CGA BC has declared they will step in should something happen to me, and my husband will have to pay someone he may not know to deal with my business affairs, and file my tax returns. Dead or wounded accountants need accountants to wrap up their affairs. It's complicated.

So, I used Microsoft Word, which has a fillable forms functionality. You may wonder why there's pages in the book about who you know. Everyone has neighbours or relatives who snoop. Now you have a way to communicate about who not to talk to, as well as who to include.

To develop this little booklet, I paid someone over $300 to create the forms in both 2003 and 2007 versions of Word. I can even convert it from a Word file easily into a "Pages" file for an Apple computer or an iPAD.

I know you're thinking about what to give your clients, your family, your accountant, Power of Attorney, Executor, lawyer, notary for Christmas or whatever your annual celebration may be.  Last year, several clients, one of them was my cousin, and a bookkeeper purchased multiple copies to gift to their family and to clients. That's where I got this idea from.

So if you're shopping early for Christmas, I've got the perfect solution, purchase a one time license to distribute up to 1000 copies for $10.00. Yes, that's a penny per copy for those who need a calculator.  (I did...)

Click here as this offer is only good until midnight on November 3 2012. (that's when the clock falls back...)

This item is not included in the bundle price of $250 for everything else in my shopping cart, which also expires midnight November 3.

November 9th 2012 11:30 am to 1:10 pm Pacific Time

How can you qualify to attend?  Be one of the first - the first ??? you ask

One of the first 20 people to purchase my bundle of products for $250 and you'll qualify to attend a 95-100 minute workshop on report writing. Warning, you'd better purchase soon, as there's already one person on that list...it's now 6 pm October 27th...and last time I made this offer the workshop wasn't recorded for sale, and neither will this one, as that's the only way I can get people talking is to promise not to record the session. Otherwise everyone clams up. Yes, you get to ask questions in real time and no one is going to record you.  You can sign in anonymously if you like as your name does show up on the list of attendees.  Be Betty Boop if you like. They don't see your email, but if you want points for PD, you'll need to use your real name so I can verify you attended after and send you a certificate.

(The entire bundle of products retail individually for about $950 - check it out yourself, visit my shopping cart and click on every single thing in the store except the online meetings for Boot Camp and CGA's Only monthly meetings...)

I've listed everything if you don't want to bother with the pain of auditing my shopping cart.

It's taken me two years to assemble these training videos and other materials with the help of IPBC www.ipbc.ca who sponsored and hosted these workshops, and who consider me a Partner as a result.

I've posted the sample data files that accompany many of these products in my Links but you really need to watch the recorded webinars along with the sample files to really understand what it is I'm doing.  I've been told that what I've done is to answer When and Why we do record keeping, not just HOW to use the software. I like to think that I've shown you how to incorporate internal controls into QuickBooks so that you use the software safely and effectively to minimize the risk of creating a mess that requires fixing.

See my partner page if you're a member to get 50% off and yes, you still qualify to attend on November 9th...

Just click right here review the list to see what's all included in the bundle...

Have you ever wondered how you compare to others in your field?

For accountants and bookkeepers, you might find this interesting and useful if you are attempting to switch to value pricing per Ron Baker's presentations at the IPBC conference and at the CGA BC practitioners symposium in June 2012

Click here for link to section where you'll find the info

Click here for the details

thanks for the find Ralph! @stencocga

I was just speaking with John Charbonneau, a local mortgage broker. He's always coming up with cool ways to communicate about what he does and how he helps people.  Sometimes he interviews other people to help them get their message out about how they help people too. 

I always find his email marketing techniques interesting. Today he asked me to give him five questions he could ask me about how I help people. We're going to make a five minute video next week. What an interesting exercise this is already. If I asked you how you help people what would you say? Here are my answers. 

I help people to
1) learn how to take control of and plan financial matters, both personal and business
2) organize paperwork, personal and business
3) learn how personal tax credits can be documented to make a claim that reduces tax payable
4) estimate and calculate tax payable
4) figure out how the rules apply to them

Ways I help people include:

1) Providing information, for free. There's all kinds of free information on my website. It's everywhere. Under Links, My Projects, Publications...  For example, under My Projects, you'll find a student workbook about how to use TurboTax Online for free, anonymously for example that teachers can use in the classroom. I'm passionate about people's rights about the rules, and sometimes that means just getting the word out there that there's something they should know is important to me.

2) Selling products, videos, and e-books and spreadsheets, found in my shopping cart. I've been recording webinars for www.ipbc.ca for the past three years and many of these webinars were recorded for sale. IPBC gets a percentage of sales and I'm listed as a Partner on their website.

3) Online coaching or education, for example, my Boot-Camp next Tuesday Oct 30 at 11:30 am PST, using www.GoToMeeting.com you or a group, up to 25 people from anywhere, even mobile on their mobile device with an APP, view my computer screen and talk using VoIP. (Buy a headset with a mic for noise cancellation so everyone isn't listening to you rattle paper or your dog bark, and try it free for 30 days so you'll be comfortable before someone asks you to attend a meeting with them)

If you signed up for BootCamp during October and want to attend the October 30th session again, let me know and I'll send you an invitation.

If you missed it, there's a repeat session on Tuesday October 30.

The topic is personal tax credits, with a focus on infirmity as the new top up Family Caregiver Amount of $2,000 for five of the credits requires documentation of infirmity.

Infirmity is not disability. Disability isn't infirmity. Sometimes you may considered to be a person with a disability and infirm.

Click here for more info about BootCamp

and remember if you are an IPBC member, you'll find that BootCamp qualifies for 10% off on my IPBC Partner Page - please log in as a member to utilize the discounts.

CRA has rules about when you can't turn a blind eye... and if you are keeping records, this should be fair warning...      click here: Civil Penalties IC 01

I'd love to find that court case I read a few years ago now, where the judge is berating the husband because the husband is blaming his wife for not keeping the business records properly. If anyone knows which case that is, I'd love to have the name/date or if you can find it in www.canlii.org send me the link @ eileen@taxdetective.ca

It used to be that you could just hire anyone who knew keyboarding, hand them a pile of paper and say, here, enter these into the books.  You could provide a few instructions about what category to use, and there would only be a few categories.  Life was pretty simple. Those days are gone.  Every time I turn around, on my TaxDetective forum for members of www.ipbc.ca, a member wants to know how to deal with something new and different.  Last week it was Holdbacks, this week it's Banked Over-Time. Or it's coupons, gift certificates, discount codes... and always, there's the law, not just tax, all the laws.

Today's bookkeeper has to be pretty sophisticated and street wise. They almost need a law degree to record transactions because they have to interpret transactions in light of laws like Income Tax, Payroll, Trusts, Estates, the Public Trustee Act, Excise Tax, WorkSafe, Employment Standards, Import/Export rules plus they have to contend with accounting rules set out in the CICA Handbook.

What's cool is that today, most of those laws are online. More and more of them are available at www.canlii.org and if you haven't been there recently, review the laws and read some court cases, from various courts.

Record keeping for income taxes can at times be the subject of court cases, at the Tax Court level, and sometimes they go to Appeals and on to the Supreme Court. 

This case I can't find, the one with the husband who hired his wife, who knew nothing about keeping records and then blamed her in a court in this land. The judge didn't buy it.  He told that owner/manager to hire appropriately qualified persons to handle the record keeping and told him that it wasn't the wife's fault and that it was totally inappropriate of him to require his wife to provide this service. I wonder how the wife fared after the trial. I often think of her and wonder.

Today's bookkeeper is very special. Many bookkeepers have studied accounting, and tax, and are often just a few courses shy of a designation when life gets in the way and they start a business instead of completing their designation.

If you hire a bookkeeper, make sure you treat them well! They deserve your respect, support and admiration. It isn't easy keeping it all straight and on the up and up.

1. Change the Default Accrual box from Sick to BOT and record the beginning hours of BOT in each employee's Accrual for BOT.
2. Edit the Payroll Item: BOT Hourly Rate to point to a new liability account BOT Payable
3. Create another Payroll Item for Overtime Hours and post the overtime hours to this Item on the time sheet..
4. Make an entry to post the accrual for BOT Payable by employee in the register to increase the opening liability account for each employee, recording it to Opening Bal Equity or expensing it, if it wasn't previously set up as a liability.
5. Edit the pay cheque to reduce the gross pay by posting negative hours to the BOT Hourly Rate item directly on the paycheque. This will adjust all of the withholding amounts on that pay cheque.
6. Pay the BOT later by recording hours to be paid to BOT Hourly Wage Item either on a time sheet or directly to the subsequent pay cheque to increase the amount paid and reduce the BOT Payable. The correct amount of withholdings should appear.

http://www.taxdetective.ca/articles/article/1482041/72551.htm

At today's workshop for Family Focus Conference the topic of hiring caregivers
came up several times.

I couldn't find this article at the time. See above for the link.

The instructions from CRA are very clear. If you hire someone and they don't meet the criteria 
set out for self-employment, there is no other category such as 'casual' or 'contract' 
There is only employed or self-employed categories contemplated by the Income Tax Act.
Even management fees are only for between corporations, they aren't something that
shareholder, owner/managers can pay themselves. 

This isn't something people want to believe, but it's the case.  Believe me, I've looked for it,
and casual, contract, management fees, for people who want to opt out of payroll, they do NOT
exist as options contemplated by the Income Tax Act.

If you aren't sure they meet the self-employed status requirements, you are required to set 
them up on payroll,   and from the first dollar paid remit EI premiums, and where over 
the minimum weekly amount for CPP, CPP, premiums.

If you want to see if they would meet the test for self-employed,
 while you send in for a ruling using a Form CPT1-which can be done through 
My Business Account window electronically now, 
it's necessary to treat the person as if they are an employee until you hear otherwise
after submitting the CPT1 with a statement of facts 

CRA's red tape reduction
http://www.cra-arc.gc.ca/gncy/rdtprdctn/menu-eng.html

If you want to learn what all the red tape is about - attend my workshop for the Surrey Langley North Delta Chapter of CGA on Nov 24th...

If you attended my 90 minute online workshop today, the sample file to play with is loaded.
It's the last one on the list..

Click here

Click here for the slides...

This was for the CGA Fraser Valley Computer User Group meeting last night.

BTW, Fred overheard some attendees discussing that they couldn't afford the deal right away. That's why I'm extending the special event pricing from last night until November 3, 2012

$250 for the entire bundle of products in my online shopping cart - it's a steal of a deal (someone else said that today)

A second run on this month's topic seems in order. I've put up the information on the BootCamp page on my website
http://www.taxdetective.ca/BootCamp.html

I am NOT recording Boot Camp as I want people to be comfortable participating by asking questions or making comments during the call.  If you want to learn about tax, it's a live meeting.

If you plan to attend, please be prepared with a headset with a mic as we will mute you or ask you to call in on a landline (which costs you long distances charges) if you're the cause of background noise.

Not in your office?.. if you're on the move, there's a mobile option - www.gotomeeting.com now has an APP for your mobile device. Try it out free, and sign up for a month's free GoToMeeting while you're at it, so you get the hang of how these meetings work, and to play with the command bar so you know how to change your settings and chat by typing your question if that's your preference over live conversation.

There's interest in learning about how to estimate personal taxes and you can't estimate personal taxes without considering personal tax credits.  This year, there's an additional amount possible if your dependents in five categories are 'infirm'.

Search this blog for the word 'infirmity' to get a clearer understanding, and then consider joining us on October 23 to discuss personal tax credits and how to estimate your taxes for next year.

And... if you are paying too much tax now and would rather pay less and not get a refund in April, this BootCamp might be for you. 

Limited space - 25 maximum. IPBC members can log in to www.ipbc.ca and click on my character logo on the Partner page then find the 10% discount page to register.

Here's what Tariq had to say...

Meridian Bookkeeping and Tax

I know there are people who really can't afford my products and really want to learn how to use QuickBooks properly.

That's why I'm offering this very limited time offer for the next few days until October 15th 2012. 

I'm offering a bundle of all of the products in my online store for one low price.

Boot Camp and CGA's only are the only products that are excluded.

Click here for details and to purchase the bundle:
http://www.taxdetective.ca/catalog/item/6427752/9557335.htm

IPBC members log in to visit my partner page for 50% discount at www.ipbc.ca

Experts on how to use QuickBooks software, (like me, as an example) will invest thousands of hours to become experts. We write articles to explain how QuickBooks works for other ProAdvisors, train clients, train our own staff, and pass online exams to become an Intuit Canada Certified QuickBooks ProAdvisor.

Small business owners, bookkeepers and accountants expect/hope to learn in a few hours what it took an expert like me thousands of hours to learn, experiment and perfect.

Over the past two years I've written and produced 40 hours of video training to impart that expertise. I share other useful products via my online store, like a OneNote sample of a working paper file, and spreadsheets to calculate various tax calculations, all for a nominal fee.

When you add up all the products in my online store, the combined price is a staggering $952.79 before tax. IPBC members get a 50% discount, for a discounted combined price is $563.84. I partner with IPBC and provide members products at a 50% discount www.ipbc.ca

Last week an accountant who is an IPBC member emailed to beg me to find a way to price these products in my online store so that he can afford to learn what I know how to do. His job is terminating and he can't afford $563.84 plus tax, but he really wants to learn from me. I understand how expensive training is, because I've paid to learn. Often thousands of dollars every year to keep current. So here's what I am going to do for this guy, and for anyone who wants to take me up on this limited time offer, because I really do get it.

So, for a very limited time, as in from today until October 15, I'm going to offer all my products, everything in my Shopping Cart today for $250.00.

I'm going to extend the 50% discount to IPBC members for this package limited time offer. For $125 IPBC members can purchase a bundle of everything in my online store right now, which would normally cost an IPBC member $563.84.

There's only two products excluded from this offer. What's excluded are the monthly meetings for Boot Camp and CGA's Only (Canadian Virtual Tax Research Club).

In addition, for the first 25 people who ACT NOW and take me up on this offer, I'll throw in 90 minute group online meeting from 11:30 am to 1 pm Pacific time on Friday October 19, 2012. The first 25 people can email me one question about how QuickBooks works at least 24 hours in advance, by 11:30 am October 18th (PST) and I'll answer those questions during this hour.

Please act now, this offer may never happen again.

FMC Law says Tax Court upholds advisor penalties

I wonder if this will end up in Supreme Court?

Thanks to Lisa Stretton CPB - sleuth of the week via LinkedIn!

Can you contract out of a law? I don't believe you can. This question has come up several times in the past few weeks so I'm addressing it in this blog. I'd be interested to hear from lawyers what they think of whether or not you can contract out of an obligation, after they've read IC-01 CRA's Civil Penalties. There are accountants and bookkeepers out there who think that it's fine to contract out of their obligations and I don't agree.  At least I don't think you can do it without getting stung by Civil Penalties if it's tax law you're contracting out of. Not sure about other laws like employment standards or WCB, but income taxes... well I think you're pretty much not OK contracting out.

Especially, you can't contract out if you're a professional, or a bookkeeper, at least one who has insurance and wants to continue to be covered by the policy.

CRA has a penalty that applies if you attempt to. If you've not read the Civil Penalties IC in awhile, maybe it's time for a visit..

Having a client sign a representation letter claiming you've warned them or reviewed with them the rules and they have chosen to file their returns, ignoring your advice and professional judgement, that's a recipe for disaster. 

Why on earth would you provide someone with advice, and when they don't take it, say, well that's OK, I'll just write down what I told you and that you plan to ignore my advice and I'm going to help you prepare your filing obligations without my professional judgement and I'm going to make you sign this document, so that absolves me of any and all responsibility. 

You're a professional. You have insurance and when the insurance adjuster sees that you've given professional advice which was ignored and you agreed to ignore your own advice, exactly how long do you think that the insurance company is going to want to insure you?

When someone doesn't take your advice, you should stop working for that client. The client is ignoring your advice, that makes them dangerous to your financial and emotional and maybe even physical well-being for all time.

I have three criteria for good clients. 
1) They pay in advance on retainer
2) They pay without complaining
3) They take your advice, they don't ignore it and expect you to continue to serve them

What's interesting is that our government contracts out of its laws when it hires professionals as consultants, it's contracting out of employment standards, employee benefits, and probably attempting to contract out of WCB if it can get away with it. I heard recently that a number of senior CRA contractors were audited by CRA because of the personal services business rules, and their expense claims for business were curtailed as a result. I wonder if anyone ever considered checking on how many laws CRA was contracting out of by hiring professionals on contract rather than as employees. Just sayin'....

Click here for CRA website

In the search box, type Family Caregiver Amount (that's what this new federal credit for family dependents is called for 2012)

Nothing relevant to making claims for additional amounts for infirm relatives effective for 2012 comes up.

This is the new additional $2,000 federal tax credit available for 2012 if you know how to document the infirmity of your dependents in five categories:

1. Child
2. Spouse
3. Eligible dependent
4. Caregiver
5. Infirm dependent age 18 or older

Next, in the search box type in TD1 and pull up a fillable form.

Complete the form, and attempt to enter all of your dependent claim information on each of the five lines.

But... how do you document infirmity? What does it even mean?

That's why you might want to consider attending my next TaxDetective Boot-Camp for an hour on October 16. This could be worth $300 as a tax reduction to your federal taxes ($2,000 x 15% federal tax rate for credits) per dependent for 2012 x ??? dependents.

www.taxdetective.ca/bootcamp.html

No time? listen in on the run as www.gotomeeting.com has a new APP for your mobile devices.

Click here to renew or subscribe to TaxLinks Pro Portal.

This subscription is a link to multiple pages of research and topical tax reading.

Annual renewal October 1 every year.

What a great resource for CGA's looking for non verifiable PD points for tax reading this and next year!

For example, I'll be speaking about self-employed tax return completion, Form T2125 to the Surrey, Langley, North Delta Chapter on November 24, 2012 for 3.5 hours.  All of the course content links will be available in this subscription. If you aren't in the area or can't make the event, you can still get the information you need to learn about how to be in compliance when you're self-employed!

There's a whole web page just on Personal Services Business and how that works (or doesn't depending on your point of view), especially now that there's another road block to being a 'corporate employee' in the form of yet another punitive tax measure in last year's budget.

And...Home Offices, that's a dog's breakfast. For each type of taxpayers (CRA identifies each type's rules in a separate place, and then sometimes gets the links mixed up), so if you're never really sure which rules apply when you are self-employed, or an employee of a corporation working from home or someone who has a corporation with an office in the home, you're probably not wrong.  Guess what? Each of these situations has completely different rules and there could also be GST/HST consequences and if you're in BC, you may be illegally claiming a tax credit on your Hydro and Gas bills.

IPBC members can access the links at a 10% discount by going to my Partner Page after logging in as a member at www.ipbc.ca

Q: Doesn't QuickBooks do an auto closing for year end?
A: Yes, it does, and what we're doing with this method of entering transactions is tricking it to give us what we need to show comparatives without having to use a calculator to calculate the changes for each account over the year.

Q:Rented by the hour? What kind of bar is this?
A:What's being rented is the room upstairs... to the waitress. and now the bar owner is divorced... go figure..the story continues tomorrow and no one is sure how it ends.  Yes, I'm sure Fred's wife had similar concerns to yours.

Q: There is no AP if the cheque was issued..
A: That's right. Once the cheque was written in the prior books, the payable would have been reduced to nil, so it wasn't necessary to enter a Bill - that's why we're deleting it.

Q:Please show the Journal report so we can see the order you made your entries in.
A:In QuickBooks, that really isn't necessary.  You can make the entries in any order you want to and if necessary, delete them and re-enter them with the right numbers if the software won't let you edit the Open Bal Equity entry.

Q:Can you make your columns wider so we can see...
A: In QB v 2013, the ability to adjust column widths is currently restricted in some screens, so you'll have to extend the form instead.

Q: Is the Opening Balances Equity account being used like a cash clearing account?
A: Yes, that's exactly it. Instead of entering a Journal entry with the trial balance, we're using the OBE account as a clearing. That's what makes it possible to enter individual entries in the account registers and eventually to balance or adjust the trial balance to agree to the ending balances in the old books.  That's because life isn't perfect, and the old books won't be finished until some time after you start the new books.  You know, it's those receipts they forgot to give you, and that invoice they forgot to tell you they hand wrote and never posted...

Q: Will QuickBooks let you 'disconnect' the sub-ledgers from the General Ledger to enter the outstanding items in teh sub-ledgers as of the date that we are taking over the file?
A: Yes the Chart of Accounts is a list.  All lists except for Vendor List are eligible to be five levels deep in hierarchical mode.  You can re-organize the sub-accounts any way you want and then either merge them, or put them together in a different way at any time. As for Customers, sometimes a deposit can block the ability to move a Job to become a Customer, or to sub-Job something, but if you were to delete that payment / deposit and re-enter it after you moved around what you wanted moved, that would also be possible.

Q: Sorry, I missed the first few minutes, how do we get this file later? Can we get this presentation later so we can slow it down and soak all this in?
A: Yes, you can purchase the presentation (IPBC members visit www.ipbc.ca and log in as members to access the Partner Page for 50% discount)  Non members will find the webinar in my shopping cart.

Q: So you are doing this purely for the purpose of having comparatives for the reports in the prior years.
A: Yes, if you're doing a corporation, it's necessary to do comparatives on S100 and S125 on the T2 Corporate return.  This is a great way to ensure you've got the right numbers, and if you use QuickBooks, you can export directly to Profile T2 so all this is automated.  OF course you have to enter the GIFI codes into the Account setup and that's easy, just edit each account and set up the GIFI codes.

Q: This is a smart idea. I always wondered how to get comparatives when I set up a new data file. Thanks!
A: You're welcome.

Q: You are using QB 2013, when is that going to be available?
A: Today, if you go to www.quickbooks.ca

Q: Will these data files be available with previous versions?
A: No, you can't work backwards to open newer versions of data files in older versions of the software.  Be brave, install the latest version and play with it before you move your files over.

Q: You can't edit tax adjustments - Oh, you found a way!
A: Yes, you can, you can edit tax adjustments, you can edit financial statement adjustments too. Just pick a different day, and make the entries on that day. You'll have to watch the video again to see what I mean.

Q: Why is the bill entered at all?
A: You would enter a Bill to set up a Vendor unpaid bill because that's how you enter opening AP balances. If you enter your payables by Vendor, then, when they are paid after the conversion date, you can clear your payables by Vendor by Item.  And you can keep your Vendor accounts reconciled. If for example, you have a Vendor with a number of unpaid amounts, you could enter each Bill, coding each to Open Bal Equity (and you could set up a sub-equity account to handle just payable or just receivables, or just inventory if it's a lot of transactions so you're sure you balance) That way, you will have a great way to reconcile your ongoing AP balances and to ensure that your ending outstanding amounts in the old set of books equals what your new books have as the starting figures (on a per Bill basis, not just a lump sum that may or may not include the same Bills as the old books did)

See you all tomorrow for more on how to make adjusting entries, and how to adjust your opening entries.

Make sure you download the sample data files (Save them first before opening, as they are backup *.QBB files that must be restored with QB 2013).

Download and install QB 2013 before you attempt to restore..

Conversion to QuickBooks is challenging, especially when the business owner wants the accountant to convert, and the accountant is a Simply user.

How do you convert, and if necessary because it isn't convenient to convert at year end, could you pick just any old day and successfully convert?

YES you can! My method works.

Why? Because you can edit your opening numbers as you fix your closing numbers, in fact, you could convert portions of your systems on different dates, and marry it all up so that your old books close out and your new books pick up the opening numbers for AR and AP on different dates if necessary.

You'll have to watch the video to see how. And if you aren't comfortable using the account registers, it's time you took it to the next level.

Using registers and using the data file report writer like the true data base it is, that's what it takes to reconcile your work, to work in and to be comfortable with using QuickBooks professionally.

Opening Balances Part 2 of the webinar is live, tomorrow at 11:30 am PST.

Register here for Part 2 where we talk about Adjusting Entries and Adjusting what's already been recorded if it's not correct at www.ipbc.ca

The recording for Part 1 is loaded for sale in my store CLICK HERE to purchase Part 1

IPBC members, log in to www.ipbc.ca for the discount price page found on my Partner Page.  (Partner Pages are accessed from the bottom right hand corner of the IPBC home page)

Adding Value Panel report

Money Laundering Panel report

It was an honor to participate in the first annual IPBC conference. It was a priviledge to present these two discussion panels and to engage with the participants throughout the event. Thank you for inviting me to participate.

What's New has a new posting

There's also a new PST website: www.gov.bc.ca/PST

and there's also another Consumer Taxes info website at www.gov.bc.ca/ConsumerTaxes

Why is it that the information can't all be in one place? Sigh...

and they didn't get around to fixing the link to Consumer Taxes either... so here's the link until they fix it...

http://www2.gov.bc.ca/gov/topic.page?id=9D6D7CFC5DA841EDAF43079FF1845A8D