# Accounting and Bookkeeping **URL:** https://www.protaxcommunity.com/c/accounting-and-bookkeeping/22.md [Latest](https://www.protaxcommunity.com/latest.md) · [Categories](https://www.protaxcommunity.com/categories.md) · [Tags](https://www.protaxcommunity.com/tags.md) --- ## [About the Accounting and Bookkeeping category](https://www.protaxcommunity.com/t/about-the-accounting-and-bookkeeping-category/2645)
**Author:** [@Elizabeth](https://www.protaxcommunity.com/u/Elizabeth)\ **Replies:** 0
General discussion about about accounting and bookkeeping practices and tools. --- ## [Bonus and salary for owner](https://www.protaxcommunity.com/t/bonus-and-salary-for-owner/12476)
**Author:** [@pardnme](https://www.protaxcommunity.com/u/pardnme)\ **Replies:** 20\ **Last updated:** [June 23, 2026, 5:42pm UTC](https://www.protaxcommunity.com/t/bonus-and-salary-for-owner/12476 "2026-06-23T17:42:41Z")
I have very little experience with salary/payroll. However, I have a few clients (incorporated) that want to do a bonus to themselves or even a random salary every year. How do I structure this in excel? I don’t want … --- ## [ETFs / DRIPs etc in a corp - bookkeeping issues](https://www.protaxcommunity.com/t/etfs-drips-etc-in-a-corp-bookkeeping-issues/12487)
**Author:** [@SmallBizGuy](https://www.protaxcommunity.com/u/SmallBizGuy)\ **Replies:** 3\ **Last updated:** [June 14, 2026, 2:35pm UTC](https://www.protaxcommunity.com/t/etfs-drips-etc-in-a-corp-bookkeeping-issues/12487 "2026-06-14T14:35:36Z")
Wondering how others approach this. I’m struggling with a client who has significant retained earnings they cannot immediately extract and they’ve engaged TD Waterhouse to invest same. There is no issue with the regular … --- ## [Amalgamation with Share Purchase](https://www.protaxcommunity.com/t/amalgamation-with-share-purchase/12434)
**Author:** [@kevintran](https://www.protaxcommunity.com/u/kevintran)\ **Replies:** 4\ **Last updated:** [May 26, 2026, 5:14am UTC](https://www.protaxcommunity.com/t/amalgamation-with-share-purchase/12434 "2026-05-26T05:14:55Z")
Hello! Have an interesting one I’m running into here regarding a vertical amalgamation. I’m picking up the pieces from the prior accountant and want to ensure my T2 is sound as I’m questioning myself. Client acquired a… --- ## [Seeking Tech Stack Recommendations for Practice Expansion](https://www.protaxcommunity.com/t/seeking-tech-stack-recommendations-for-practice-expansion/12427)
**Author:** [@mel](https://www.protaxcommunity.com/u/mel)\ **Replies:** 1\ **Last updated:** [May 23, 2026, 1:22am UTC](https://www.protaxcommunity.com/t/seeking-tech-stack-recommendations-for-practice-expansion/12427 "2026-05-23T01:22:44Z")
Hello Everyone, I’m undergoing a significant practice transition, moving from a sole-practitioner setup (15+ years) to acquiring a retiring CPA’s practice. This deal, closing in a few months, will quadruple my revenue a… --- ## [Quickbooks Desktop Pro Advisor Subscription](https://www.protaxcommunity.com/t/quickbooks-desktop-pro-advisor-subscription/7079)
**Author:** [@jimt](https://www.protaxcommunity.com/u/jimt)\ **Replies:** 40\ **Last updated:** [May 10, 2026, 8:38pm UTC](https://www.protaxcommunity.com/t/quickbooks-desktop-pro-advisor-subscription/7079 "2026-05-10T20:38:35Z")
Has anyone else seen their Quickbooks Pro Advisor subscription renewal? We have a 5 user license. Last year the cost was $1,680 ($336 per user) this year the renewal is $4,200 ($840 per user) I’m a bit pissed… Jim --- ## [Capital Lease - Equipment (JE's and FS)](https://www.protaxcommunity.com/t/capital-lease-equipment-jes-and-fs/3727)
**Author:** [@NiceGuy](https://www.protaxcommunity.com/u/NiceGuy)\ **Replies:** 4\ **Last updated:** [February 2, 2026, 1:33am UTC](https://www.protaxcommunity.com/t/capital-lease-equipment-jes-and-fs/3727 "2026-02-02T01:33:22Z")
Lease contract - equipment Cost : $5,500.00 Term: 5yr - indicator capital lease (useful life) Buy out price: $10.00 - indicator capital lease (bargain purchase option) Periodic rent amount : $136.51 + tax $… --- ## [Financial statement software / Caseware](https://www.protaxcommunity.com/t/financial-statement-software-caseware/11753)
**Author:** [@indiramajorm](https://www.protaxcommunity.com/u/indiramajorm)\ **Replies:** 3\ **Last updated:** [January 21, 2026, 6:32pm UTC](https://www.protaxcommunity.com/t/financial-statement-software-caseware/11753 "2026-01-21T18:32:07Z")
I have used caseware for a few years. Technical support is not the best. When I call, I am on hold for at least 20 mins, then I am prompted to leave a message. Are there any other software that you use to prepare workin… --- ## [Professional Development Suggestions](https://www.protaxcommunity.com/t/professional-development-suggestions/11751)
**Author:** [@david2](https://www.protaxcommunity.com/u/david2)\ **Replies:** 3\ **Last updated:** [January 20, 2026, 11:27pm UTC](https://www.protaxcommunity.com/t/professional-development-suggestions/11751 "2026-01-20T23:27:13Z")
Filing out my CPE submission for 2025 got me thinking of changing up some of my annual CPE. What are people doing these days to get sufficient formal and informal hours? I’ve used the provincial institute courses Vide… --- ## [Selling client lists](https://www.protaxcommunity.com/t/selling-client-lists/7936)
**Author:** [@Stargazer](https://www.protaxcommunity.com/u/Stargazer)\ **Replies:** 9\ **Last updated:** [January 19, 2026, 2:47pm UTC](https://www.protaxcommunity.com/t/selling-client-lists/7936 "2026-01-19T14:47:49Z")
My partners are near retirement age, and we’re discussing what to do about the fact that we now have more clients than I can handle alone. I work out of my home so hiring an employee or finding another partner aren’t op… --- ## [Looking to buy the business or a firm](https://www.protaxcommunity.com/t/looking-to-buy-the-business-or-a-firm/11739)
**Author:** [@mazhar](https://www.protaxcommunity.com/u/mazhar)\ **Replies:** 0\ **Last updated:** [January 16, 2026, 11:44am UTC](https://www.protaxcommunity.com/t/looking-to-buy-the-business-or-a-firm/11739 "2026-01-16T11:44:48Z")
Hello Friends, I am looking to get into an arrangement to buy the practice from someone who is retiring or wants to downsize. I am in Edmonton, Alberta. Please reach out to me at 5873365270 or email at mazhar@iabs.ca T… --- ## [How I used the Microsoft excel wild cards and the SUMIFS function to quickly separate large volume of personal expenses that were mistakenly recorded as business expenses during bookkeeping](https://www.protaxcommunity.com/t/how-i-used-the-microsoft-excel-wild-cards-and-the-sumifs-function-to-quickly-separate-large-volume-of-personal-expenses-that-were-mistakenly-recorded-as-business-expenses-during-bookkeeping/11635)
**Author:** [@vifiehjacobnjong](https://www.protaxcommunity.com/u/vifiehjacobnjong)\ **Replies:** 7\ **Last updated:** [December 21, 2025, 4:46am UTC](https://www.protaxcommunity.com/t/how-i-used-the-microsoft-excel-wild-cards-and-the-sumifs-function-to-quickly-separate-large-volume-of-personal-expenses-that-were-mistakenly-recorded-as-business-expenses-during-bookkeeping/11635 "2025-12-21T04:46:28Z")
:speaking\_head: I formulated this real world example, which demonstrates how the use of excel functions can make work go extremely easy, and can boost confidence in handling bookkeeping errors and mistakes with speed and… --- ## [Caseware files – cloud, local, or Caseware Cloud?](https://www.protaxcommunity.com/t/caseware-files-cloud-local-or-caseware-cloud/11371)
**Author:** [@Easyzen](https://www.protaxcommunity.com/u/Easyzen)\ **Replies:** 13\ **Last updated:** [October 2, 2025, 5:56pm UTC](https://www.protaxcommunity.com/t/caseware-files-cloud-local-or-caseware-cloud/11371 "2025-10-02T17:56:49Z")
Hello, How are you saving your Caseware files? Do you keep them in the cloud (Dropbox, Sync, SharePoint), on your local computer, in Caseware Cloud, or somewhere else? I just want to know what has been working best fo… --- ## [Starting an Accounting Firm](https://www.protaxcommunity.com/t/starting-an-accounting-firm/11304)
**Author:** [@Moe](https://www.protaxcommunity.com/u/Moe)\ **Replies:** 6\ **Last updated:** [September 18, 2025, 4:35am UTC](https://www.protaxcommunity.com/t/starting-an-accounting-firm/11304 "2025-09-18T04:35:41Z")
Hi all, I’m a CPA in Canada with about 2.5 years of experience, currently working as a Senior Accountant at a small firm. My plan is to stay where I am for another 3–4 years, then branch out on my own to offer bookkeepi… --- ## [Tax Practice - Planning to retire](https://www.protaxcommunity.com/t/tax-practice-planning-to-retire/11144)
**Author:** [@mmservicescpa](https://www.protaxcommunity.com/u/mmservicescpa)\ **Replies:** 0\ **Last updated:** [July 30, 2025, 9:34pm UTC](https://www.protaxcommunity.com/t/tax-practice-planning-to-retire/11144 "2025-07-30T21:34:38Z")
I’m a CPA based in West GTA. I’ve been operating my own tax practice for nearly 12 years now and am currently looking to grow through acquisition or succession of CPA practice. As part of this effort, I’m hoping to conn… --- ## [Software to track investments](https://www.protaxcommunity.com/t/software-to-track-investments/11091)
**Author:** [@atul](https://www.protaxcommunity.com/u/atul)\ **Replies:** 5\ **Last updated:** [July 22, 2025, 4:05am UTC](https://www.protaxcommunity.com/t/software-to-track-investments/11091 "2025-07-22T04:05:31Z")
I have several high net-worth clients with significant investments. Whereas the summaries do help me, I need some reliable software which will track the ACB of shares (brokers’ statements are at times very unreliable). O… --- ## [What Are Your Must-Have Office Items?](https://www.protaxcommunity.com/t/what-are-your-must-have-office-items/11026)
**Author:** [@Easyzen](https://www.protaxcommunity.com/u/Easyzen)\ **Replies:** 18\ **Last updated:** [July 17, 2025, 3:37am UTC](https://www.protaxcommunity.com/t/what-are-your-must-have-office-items/11026 "2025-07-17T03:37:55Z")
I’m using the slow season to improve my office before things get busy again next January to June. I’d like to hear from others in tax and accounting — whether you work alone or in a bigger firm: What are some must-hav… --- ## [Appointment software](https://www.protaxcommunity.com/t/appointment-software/10955)
**Author:** [@Stargazer](https://www.protaxcommunity.com/u/Stargazer)\ **Replies:** 9\ **Last updated:** [July 15, 2025, 7:14pm UTC](https://www.protaxcommunity.com/t/appointment-software/10955 "2025-07-15T19:14:05Z")
I have a 2-person team and am researching scheduling software. What do all of you use and like or have you used and hated? I don’t want a ton of bells and whistles, like the ability to take payments or communicate via … --- ## [Note disclosure for refundable dividend tax](https://www.protaxcommunity.com/t/note-disclosure-for-refundable-dividend-tax/10937)
**Author:** [@rpeters](https://www.protaxcommunity.com/u/rpeters)\ **Replies:** 10\ **Last updated:** [June 11, 2025, 5:15pm UTC](https://www.protaxcommunity.com/t/note-disclosure-for-refundable-dividend-tax/10937 "2025-06-11T17:15:20Z")
I have not been involved with an investment corporation for many years. I remember that we included note to the FS for refundable taxes showing RDTOH at year-end and that a dividend was available at the rate of $1 for $3… --- ## [Client with a messed up accounting system - recomendations please?](https://www.protaxcommunity.com/t/client-with-a-messed-up-accounting-system-recomendations-please/10593)
**Author:** [@laurie](https://www.protaxcommunity.com/u/laurie)\ **Replies:** 10\ **Last updated:** [April 14, 2025, 5:52pm UTC](https://www.protaxcommunity.com/t/client-with-a-messed-up-accounting-system-recomendations-please/10593 "2025-04-14T17:52:00Z")
My client has a company selling several million dollars worth of different types of stone to retail and commercial landscaping and builders which are bought in US and Cnd dollars. They previously had a good system (up t… --- ## [Best marketing oppo for Xero (vs Sage) EVER!](https://www.protaxcommunity.com/t/best-marketing-oppo-for-xero-vs-sage-ever/9702)
**Author:** [@SmallBizGuy](https://www.protaxcommunity.com/u/SmallBizGuy)\ **Replies:** 23\ **Last updated:** [January 14, 2025, 8:05pm UTC](https://www.protaxcommunity.com/t/best-marketing-oppo-for-xero-vs-sage-ever/9702 "2025-01-14T20:05:42Z")
With the incredible mess and brouhaha that Sage has mde of Sage 50 CDN 2025.1 update - forcing 2FAand Web Logins for the “data owner” for all kinds of silly purposes on files that don’t need them - they’ve just angered a… --- ## [Holding Corporation - Question](https://www.protaxcommunity.com/t/holding-corporation-question/9563)
**Author:** [@k.w.moore26](https://www.protaxcommunity.com/u/k.w.moore26)\ **Replies:** 7\ **Last updated:** [December 6, 2024, 11:20pm UTC](https://www.protaxcommunity.com/t/holding-corporation-question/9563 "2024-12-06T23:20:34Z")
Hi, I have not had that much experience with corporate structures and wondered if anyone could provide some pointers or insight. I have a client who has owned an operating company for seven years, which has been highly… --- ## [US payroll provider (totally off-topic crowdsourcing request!)](https://www.protaxcommunity.com/t/us-payroll-provider-totally-off-topic-crowdsourcing-request/9457)
**Author:** [@SmallBizGuy](https://www.protaxcommunity.com/u/SmallBizGuy)\ **Replies:** 4\ **Last updated:** [November 12, 2024, 6:39pm UTC](https://www.protaxcommunity.com/t/us-payroll-provider-totally-off-topic-crowdsourcing-request/9457 "2024-11-12T18:39:08Z")
I am assisting a client with operations in the US to find a US full-service payroll provider (would be the equivalent of Ceridian in Canada). They currently use ADP and are deeply unhappy with their poor level of custome… --- ## [File Storage and IT Services](https://www.protaxcommunity.com/t/file-storage-and-it-services/9426)
**Author:** [@amy.haynes](https://www.protaxcommunity.com/u/amy.haynes)\ **Replies:** 3\ **Last updated:** [October 29, 2024, 3:54am UTC](https://www.protaxcommunity.com/t/file-storage-and-it-services/9426 "2024-10-29T03:54:19Z")
What do you use for client file storage and IT solutions? Do you have a third party provide IT services? If so, who do you use? --- ## [Sale of Shares among 2 shareholders](https://www.protaxcommunity.com/t/sale-of-shares-among-2-shareholders/9410)
**Author:** [@tanguyen1719](https://www.protaxcommunity.com/u/tanguyen1719)\ **Replies:** 4\ **Last updated:** [October 26, 2024, 5:42pm UTC](https://www.protaxcommunity.com/t/sale-of-shares-among-2-shareholders/9410 "2024-10-26T17:42:51Z")
Hey guys So Shareholder A and B each hold 50% share of the company. Lets say they initially put par value at $10. Now A would like to sell all of his shares to B for 70k. Does this in anyway affect the balance sheet? So… --- ## [Bookkeeping corrections engagement](https://www.protaxcommunity.com/t/bookkeeping-corrections-engagement/9360)
**Author:** [@healthymanccc](https://www.protaxcommunity.com/u/healthymanccc)\ **Replies:** 5\ **Last updated:** [October 24, 2024, 2:58pm UTC](https://www.protaxcommunity.com/t/bookkeeping-corrections-engagement/9360 "2024-10-24T14:58:44Z")
Over the years I’ve seen an increasing popularity of small - medium-sized business owners doing their own bookkeeping. The business owners would like to have their tax returns filed but prior to that, they would like to… --- ## [Is HST that isn't covered by an ITC expensable?](https://www.protaxcommunity.com/t/is-hst-that-isnt-covered-by-an-itc-expensable/9284)
**Author:** [@JBAMurphy](https://www.protaxcommunity.com/u/JBAMurphy)\ **Replies:** 5\ **Last updated:** [October 10, 2024, 6:13pm UTC](https://www.protaxcommunity.com/t/is-hst-that-isnt-covered-by-an-itc-expensable/9284 "2024-10-10T18:13:00Z")
So for meals and entertainment only 50% of the HST is allowed to be claimed as an ITC, correct? Can that 50% not covered by the ITC be used to reduce taxable income? For reference I am not formally educated in accounti… --- ## [province has its characteristics. ](https://www.protaxcommunity.com/t/province-has-its-characteristics/9326)
**Author:** [@hassantaxltd](https://www.protaxcommunity.com/u/hassantaxltd)\ **Replies:** 1\ **Last updated:** [October 8, 2024, 12:54am UTC](https://www.protaxcommunity.com/t/province-has-its-characteristics/9326 "2024-10-08T00:54:19Z")
Each province has its characteristics. I work in Ontario as an accountant. Do you have an explanation and instructions for the provinces’ differences in bookkeeping their accounts for small businesses? Especially sales t… --- ## [Convenience fee / Credit card fee (Ontario)](https://www.protaxcommunity.com/t/convenience-fee-credit-card-fee-ontario/4048)
**Author:** [@NiceGuy](https://www.protaxcommunity.com/u/NiceGuy)\ **Replies:** 34\ **Last updated:** [September 30, 2024, 2:33pm UTC](https://www.protaxcommunity.com/t/convenience-fee-credit-card-fee-ontario/4048 "2024-09-30T14:33:11Z")
Does anyone charge their clients a convenience fee/credit card fee? Historically, our practice has accepted only etransfers from clients to pay for invoices. However, we are thinking of offering the option to pay with … --- ## [SOQM Evaluation](https://www.protaxcommunity.com/t/soqm-evaluation/9195)
**Author:** [@amy.haynes](https://www.protaxcommunity.com/u/amy.haynes)\ **Replies:** 0\ **Last updated:** [September 6, 2024, 3:46pm UTC](https://www.protaxcommunity.com/t/soqm-evaluation/9195 "2024-09-06T15:46:25Z")
Does anyone know of any firms that will complete a third-party SOQM evaluation? [Next page](https://www.protaxcommunity.com/c/accounting-and-bookkeeping/22.md?page=1)