Category: Bookkeeping

Bookkeeping tips.

CRA System Error CluesCRA System Error Clues (ECs) – Summary of Issues, Workarounds & Fix TimelinesCRA System Error Clues

04/10/202504/10/2025 cpb No Comments

The Canada Revenue Agency (CRA) has shared updates on several system-related error clues (ECs) currently affecting EFILE and NETFILE submissions. Below is a structured summary of each issue, including temporary workarounds and anticipated resolution dates: 1. EC 90228 – Allowable Business Investment Loss Error Issue:This error is being triggered incorrectly in two situations: Temporary Workaround:…

Bookkeeping, Tax Tips

Sage 50 2025.1 login issue

01/23/202501/23/2025 cpb No Comments

The Sage50CA_2025.1_Update.exe file is a workaround file that can be used to fix issues logging into Sage 50. Steps to install the workaround file: If you are still unable to open Sage 50, you can contact Sage Support at 1-888-522-2722.

Bookkeeping, Technology

Sault bookkeeper charged with stealing $559K from employer

12/20/202412/20/2024 cpb No Comments

We have report a news before regarding the former bookkeeper accused of check fraud and theft in $2 Million Case A 50-year-old who managed the finances for a business in Sault Ste. Marie has been charged with embezzling $559,701.63 from the business in just more than four years. The suspected turned themselves in Dec. 10,…

Bookkeeping, Update

Sage 50 Desktop Update Forces Installation Prompt: How to Bypass and Delete Files

12/10/202412/10/2024 cpb No Comments

I have no idea which genius came up with this idea. After downloading the latest update for the Sage 50 desktop version, when you choose to close the software, the following warning pops up. You can’t even choose “Skip”—the only option is to click “Install Now,” leaving you no choice at all. The only way…

Bookkeeping

Quickbooks Online Increase the price again

11/25/202412/01/2024 cpb No Comments

The recent price increase is a clear indicator of Intuit’s continuous efforts to boost revenue from its widely-used accounting software, QuickBooks Online. The company has attributed this rise to various factors, including inflation and the addition of new features and improvements to the software. In today’s fiercely competitive market, businesses are consistently looking for ways…

Bookkeeping, Update

2024 CPP & EI Rates update

12/08/202312/08/2023 cpb No Comments

Get ready, starting from next month, your net income will decrease due to increased taxes! The treatment of the Canada Pension Plan (CPP) on the personal income tax return has changed since 2019. This means that, in the case of a regular maximum contribution of $3,867.50, $631.00 will be deductible on the T1 (rather than…

Bookkeeping, Update

The Duties and Importance of a Professional Bookkeeper

08/04/202308/04/2023 cpb No Comments

A professional bookkeeper specializes in maintaining accurate and organized financial records for businesses and organizations. They record financial transactions, track expenses and income, reconcile bank statements, and ensure that financial data is properly categorized and documented. Bookkeepers are crucial for helping businesses maintain their financial health, make informed decisions, and comply with accounting and tax…

Bookkeeping

The Significance of Becoming a Certified Digital Accountant (CDA)

07/12/202307/12/2023 cpb No Comments

In today’s rapidly evolving business landscape, the integration of digital technologies has transformed the field of accounting. As a result, professionals in this domain are required to possess a unique set of skills that go beyond traditional accounting practices. To address this need, the Certified Digital Accountant (CDA) certification has emerged as a valuable credential…

Bookkeeping, Update

Reporting Accounting Misconduct: A Guide

06/30/202306/30/2023 cpb 2 Comments

Introduction: Reporting accounting misconduct is an essential step in maintaining the integrity of financial systems and upholding ethical standards. This guide aims to provide a comprehensive overview of the process involved in reporting such misconduct. If you have knowledge or suspicions of accounting malpractice, following the correct procedure is crucial to ensure that your concerns…

Bookkeeping

Filing a Dissolution Notice for Canadian Businesses: What You Need to Know

05/29/202305/29/2023 cpb No Comments

Canadian businesses are required to submit a dissolution notice upon closure. Sole proprietorships and partnerships submit a form titled “Dissolution or Change of Proprietorship (or Partnership)” to the provincial Corporate Registry office, while corporations submit an “Application for (Voluntary) Dissolution” to the same office. Additionally, corporations must provide a copy of their corporate articles of…

Bookkeeping, Business, Tax Tips