2023 Tax season information: click here

The JL Accountants Scholarship – 2024 click here

Bookkeeping Checklist

Bookkeeping Checklist

What You Need

Below is a list of documents and information needed to complete your bookkeeping and complete tax returns for your business.

Invoices to clients (including those that have yet to be paid)

Bank statements/deposit books (including first month following year end)

Credit card statements

Receipts for all purchases over $500 for items such as  

  • Furniture
  • Computers
  • Vehicles
  • Equipment

 

Receipts for meals, office supplies, materials and other purchases (including those that you have not yet paid for)

Vehicle information (i.e. lease documents, purchase contract)

Loan documentation (lines of credit, mortgages, installment loans)

Details of other expenses

  • Insurance (liability, business, automobile)
  • Phone/internet/fax
  • Utilities
  • Rent/Mortgage
  • Advertising & promotional expenses
  • Equipment rentals
  • Royalty Reports

 

Documentation of loans TO/FROM shareholders

Payroll reports (T4's if already completed)

Tax remittances such as:

  • WSIB
  • HST remittances
  • Employer Health Tax
  • Payroll Remittances
  • Corporate Tax Installments
  • T5018 Contractor payments

 

If you already have bookkeping completed, please provide us with General Ledger, Trial Balance, Profit/Loss statement, Balance Sheet at year end, Accounts Receivable and Accounts Payable lists.
Electronic bookkeeping files (SAGE/XERO/Quickbooks, Excel etc.)
If you have any questions, please call us at (416) 888-5263 or by e-mail james@oshawataxconsulting.ca to schedule at time to drop off documents.

Tax legislation is always changing. We keep up to date on changes and our goal is to save you money by legally minimizing and deferring your tax liability.

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We can assist in decision making process by acting as on-call controller/advisor

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Business owners should consider increasing their salary or bonus in order to maximize RRSP room available.

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If you have recently purchased a newly constructed home or condominium you may qualify for the Ontario New Housing Rebate (NHR).

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