The Bookkeeper's Blog ...
Blogs on Good Bookkeeping Practices

Hey You ... Welcome to The Bookkeeper's Blog! Join me as I blog on good bookkeeping practices for work from home bookkeepers and business owners who do their own books.

Here is where you have the opportunity to easily keep up-to-date on new or updated blog pages being posted to the Bookkeeping Essentials web site.

It is my sincere hope that you will learn good bookkeeping practices that help you manage your business finances easily and more efficiently.

To your success! … and, of course, thank you to the readers and viewers of my blog.

Your tutor


This picture is from my day trip to Stuart Lake in 2009. Doesn't looking at this picture just make you want to exhale ... it's okay you're allowed.

Image of seaplane moored on Stuart Lake. Life is good here.
Photo courtesy of B. Gale

Sometimes we stare so long at a door that is closing
that we see too late the one that is open.


-- Alexander Graham Bell, Inventor --


Jun 22, 2024

Do You Need To Download Your Paperless Statements?

Download paperless statements

There is nothing worse than being in the middle of an audit with the CRA or IRS and not having your paperless statements or bills you need because you didn't download the information!

Continue reading "Do You Need To Download Your Paperless Statements?"

Jun 19, 2024

Sample Financial Reports Using QuickBooks® | Bookkeeping Reports

Basic Balance Sheet Example

Sample financial reports because sometimes a picture is better than words ... for those who learn by seeing. These bookkeeping reports are a reference point for producing your own financial statements.

Continue reading "Sample Financial Reports Using QuickBooks® | Bookkeeping Reports"

Jun 18, 2024

Common Audit Issues | Focus On Bookkeeping

Common audit issues

Focus on Bookkeeping takes a look at the IRS audit techniques for cash businesses, Canadian sales tax common audit issues and examines my research on U.S. and Canadian payroll tax audit issues.

Continue reading "Common Audit Issues | Focus On Bookkeeping"

Jun 18, 2024

Getting Ready For Yearend | Focus On Bookkeeping

Preparing for year-end

A brief look at what you can do NOW and throughout the year to ensure a smooth yearend by having a clean set of books.

Continue reading "Getting Ready For Yearend | Focus On Bookkeeping"

Jun 17, 2024

Definition of Assets and Liabilities | Focus On Bookkeeping

Learning Basic Bookkeeping Concepts

A look at IASB's definition of assets and liabilities from Conceptual Framework for Financial Reporting Review. Revenue recognition criteria is also touched upon.

Continue reading "Definition of Assets and Liabilities | Focus On Bookkeeping"

Jun 17, 2024

Accounts Receivable Collection Procedures

Accounts Receivable Collection Procedures

Accounts receivable collection procedures are discussed as well as how to stop providing interest free loans to your clients and customers.

Continue reading "Accounts Receivable Collection Procedures"

Jun 14, 2024

Plooto Workflow | QBO Integration

Plooto payment permissions

Automate sending and receiving payments online with a Plooto workflow. Seamlessly integrates with QBO. Dual stage authorization.

Continue reading "Plooto Workflow | QBO Integration"

Jun 14, 2024

QBO - LedgerDocs Workflow | Document Management

QBO LedgerDocs Workflow

Gathering your bookkeeping documents in one place is easy with QBO - LedgerDocs workflow integration … making collaboration with your bookkeeper a breeze.

Continue reading "QBO - LedgerDocs Workflow | Document Management"

Jun 14, 2024

LedgerSync Workflow | How It Works

LedgerSync Client Management

LedgerSync workflow integrates with QBO and QBD. It automatically imports financial documents then pushes them to QuickBooks after coding and approval.

Continue reading "LedgerSync Workflow | How It Works"

Jun 14, 2024

Chrome Browser Features | QBO Workflow

Chrome browser settings menu

Tips on how to optimize Chrome browser features for cloud accounting software like QBO (QuickBooks Online) and other cloud accounting related software. You need to know this stuff if you are using QBO!

Continue reading "Chrome Browser Features | QBO Workflow"

Jun 13, 2024

Casual Labor | Casual Employment

Cash wages

Can I pay employees as casual labor for only a few days of work without deductions? Includes DOL & IRS views, as well as CRA's stance on casual labor.

Continue reading "Casual Labor | Casual Employment"

Jun 13, 2024

FLSA vs IRS Independent Contractor Rules | DOL's Final Rule

Supplier Refunds in QBO

The DOL's Final Rule and the IRS have frameworks to determine whether an individual is an employee or an independent contractor, but they serve different purposes.

Continue reading "FLSA vs IRS Independent Contractor Rules | DOL's Final Rule"

Jun 13, 2024

Monthend Bookkeeping | Procedures Manual

Buy Now

How to perform monthend bookkeeping tasks manual. 21 simple steps for work from home business owners who manage their own set of books. You can have accurate and timely internal financial statements.

Continue reading "Monthend Bookkeeping | Procedures Manual"

Jun 13, 2024

Bookkeeping Checklist | Accounting Checklist

Buy Now

Small business accounting and bookkeeping checklist ... how to package your recordkeeping information for your bookkeeper and/or accountant ... ensuring your year end will go as smoothly as possible.

Continue reading "Bookkeeping Checklist | Accounting Checklist"

Jun 10, 2024

CRA Auto Allowances | IRS Mileage Rates

Vehicle Mileage Rates

What is CRA's tax free auto allowance for 2024? What is the IRS standard mileage rate for 2024? Find these and other business travel rates here.

Continue reading "CRA Auto Allowances | IRS Mileage Rates"

Jun 10, 2024

Canadian Bookkeeping Resources | Basic Tax Articles For Bookkeepers

Examine Tax Rates

Practical, basic Canadian bookkeeping resources for work from home business owners. Three series - home business taxes, CCPC notes, tax audit information and tips.

Continue reading "Canadian Bookkeeping Resources | Basic Tax Articles For Bookkeepers"

Jun 09, 2024

Processing Debit Card Refunds | Learning QuickBooks

Marnie Stretch, CPB shows you a simple and effective way to handle a debit card refund in QuickBooks Desktop and QuickBooks Online.

Continue reading "Processing Debit Card Refunds | Learning QuickBooks"

Jun 09, 2024

Processing Supplier Refunds | Learning QuickBooks

Supplier Refunds in QBO

How to handle a supplier refund in QuickBooks Online as well as a supplier credit. There is a link to a shortcut method that even handles sales tax simply and effectively!

Continue reading "Processing Supplier Refunds | Learning QuickBooks"

Jun 09, 2024

Inventory Returns | Learning QuickBooks

Handling Inventory Returns in QBO

How to book the inventory return of damaged goods and make them available for resale AS IS using the QuickBooks Online platform.

Continue reading "Inventory Returns | Learning QuickBooks"

Jun 09, 2024

CBSA Duties and GST Payable | Learning QuickBooks

CBSA Duties and GST

Learn how to record Canada Border Services Agency amounts due -- CBSA duties and CBSA GST -- in QuickBooks Online.

Continue reading "CBSA Duties and GST Payable | Learning QuickBooks"

Jun 08, 2024

Form 1099-NEC vc Form 1099-K vs Form 1099-MISC

Neck pain while reviewing payroll tax deductions

Explains the IRS Form 1099-NEC vs 1099-MISC vs 1099-K. Understanding the differences, how to file the forms and what the deadlines are.

Continue reading "Form 1099-NEC vc Form 1099-K vs Form 1099-MISC"

Jun 08, 2024

Hiring Independent Contractors | Canada vs US

Hiring independent contractors requires some tax reporting. In the U.S., you must issue a 1099NEC. In Canada, a T4A or T4A-NR is issued.

Continue reading "Hiring Independent Contractors | Canada vs US"

Jun 07, 2024

Payroll Tax Deposits | 7 Steps To Meet Your Requirements

Businessman preparing payroll deposit

This chat discusses IRS payroll tax deposits ... and withholding requirements. To help you meet your compliance obligations, you'll also find current tax remitting and filing due dates too!

Continue reading "Payroll Tax Deposits | 7 Steps To Meet Your Requirements"

Jun 07, 2024

2024 Payroll Tax Deductions | U.S. & Canada

Neck pain while reviewing payroll tax deductions

Payroll tax deductions are mandatory for small business owners in U.S. & Canada. What is the employer's and employee's SST rate? What are the CPP and EI rates?

Continue reading "2024 Payroll Tax Deductions | U.S. & Canada"

Jun 06, 2024

2024 Self Employment Taxes | FICA & CPP

Bookkeepers Handy Reference

Learn about self employment taxes for business owners working from home. US self employment tax (SICA) & required CPP contributions for self employed in Canada.

Continue reading "2024 Self Employment Taxes | FICA & CPP "

Jun 06, 2024

Independent Contractor Rules | The IRS Checklist

Independent contractor rules are used as an IRS checklist to determine if you have misclassified employees. Learn why this is a frequently audited area.

Continue reading "Independent Contractor Rules | The IRS Checklist"

Jun 06, 2024

Bookkeeping Certification and Training

Reading Bookkeeping News

Bookkeeping certification information for Canadian & American bookkeepers - memberships that help professionalize & increase the quality of your bookkeeping.

Continue reading "Bookkeeping Certification and Training"

Jun 06, 2024

Where To Find Online Bookkeeping Courses

Online bookkeeping course

Where to find online bookkeeping courses and bookkeeping training ... just the bookkeeping basics for the home-based small business doing their own books ... and bookkeepers wanting certification.

Continue reading "Where To Find Online Bookkeeping Courses"

Jun 05, 2024

Learn How To Use QuickBooks | Learning QuickBooks

How To Use QuickBooks

Learning how to use QuickBooks to create & customize reports such as cheques issued, customer deposits, holdbacks will help you make sound business decisions.

Continue reading "Learn How To Use QuickBooks | Learning QuickBooks"

Jun 05, 2024

Compliance Tax Rates Index

Interest rates

Canadian and U.S. compliance tax rates for small business owners who work from home. Prescribed interest rates, mileage, auto allowance, EI, CPP, FICA, FUTA and more ...

Continue reading "Compliance Tax Rates Index"

Jun 04, 2024

Basic Accounting Concepts and Principles - GAAP and ASPE

Jug of Lemon Water

Overview of the basic accounting concepts and principles around which Canadian GAAP and ASPE was developed. FRF for SMEs is a U.S. alternative to GAAP.

Continue reading "Basic Accounting Concepts and Principles - GAAP and ASPE"

Jun 04, 2024

Month-End Preparation | Before Performing Month-End Procedures

Bookkeeper preparing for monthend

An overview of month-end preparation work before you begin month-end. These monthly procedures are for home based business owners doing their own bookkeeping.

Continue reading "Month-End Preparation | Before Performing Month-End Procedures "

Jun 04, 2024

About Adjusting Entries | Month End and Year End

What about adjusting entries used by bookkeepers and accountants when doing month end or year end procedures? Let's help you understand them.

Continue reading "About Adjusting Entries | Month End and Year End"

Jun 04, 2024

Basic Bookkeeping Entries | Accounting Journal Entry Examples

Jug of Lemon Water

Examples of and links to basic bookkeeping entries and accounting journal entries ... for the work from home business owner who does their own books.

Continue reading "Basic Bookkeeping Entries | Accounting Journal Entry Examples"

Jun 03, 2024

Common Bookkeeping Entries - Journal Entry Examples

Working From Your Home Office

How to record some common bookkeeping entries requiring special treatment with examples for the home based business owner doing their own bookkeeping.

Continue reading "Common Bookkeeping Entries - Journal Entry Examples"

Jun 03, 2024

Index of Common Bookkeeping Entries

Recording bookkeeping entries

Index of basic bookkeeping entries and accounting journal entries ... for the business owner working from home who does their own books.

Continue reading "Index of Common Bookkeeping Entries"

Jun 03, 2024

Just Starting Your Own Business?

Starting a new business

When you are just starting your own business, the number of decisions to be made can be overwhelming. Your accounting system is just one of them.

Continue reading "Just Starting Your Own Business?"

Jun 03, 2024

Preparing A Financial Plan is Essential for the Home Based Business

Penguins Dr J

Preparing a financial plan is essential for a small home based business. Without a plan, how do you know where you are going … and when you get there?

Continue reading "Preparing A Financial Plan is Essential for the Home Based Business"

Jun 03, 2024

Developing Management Skills - How to Supervise Your Bookkeeper

Sorry this page has moved

Developing management skills in the art of supervising your bookkeeper lets you stay in control of your money.

Continue reading "Developing Management Skills - How to Supervise Your Bookkeeper"

Jun 03, 2024

Free Accounting Training | Small Business Financial Statements

Learning to read your financial statements

Free accounting training for home-based business owners on how to read your internal financial statements. Non-accountants only! Learn, understand, get comforta

Continue reading "Free Accounting Training | Small Business Financial Statements"

Jun 02, 2024

Reading Financial Statements-A Tool for the Home Based Business Owner

Learning to read your financial statements

An introduction to learning how to read your financial statements and evaluate the information to uncover your business's financial health, problems, and potential outlook.

Continue reading "Reading Financial Statements-A Tool for the Home Based Business Owner"

Jun 02, 2024

Basic Cash Management | Quick Accounting Training

Cash flow Forecasting

Basic cash management is a barometer of your business’ health. If you have cash flowing in and out of your business, you can keep the doors open for business.

Continue reading "Basic Cash Management | Quick Accounting Training "

Jun 02, 2024

Where Did All My Cash Go? | Focus On Bookkeeping

Cash flow Forecasting

This article on how to read your cash flow statement was first published in August 2011 in The Bookkeeper's Notes. I present it here as a handy reference.

Continue reading "Where Did All My Cash Go? | Focus On Bookkeeping"

Jun 02, 2024

The Income Statement - You Want to Understand Profitability

Income Statement

Learn why it matters that you understand your income statement. Then discover what it reveals about your business finances. The mystery unfolds!

Continue reading "The Income Statement - You Want to Understand Profitability"

Jun 02, 2024

Confused About the Balance Sheet?

Balance Sheet

Learn why it matters that you understand your balance sheet. Then discover what it reveals about your business finances. The mystery is about to unfold!

Continue reading "Confused About the Balance Sheet?"

Jun 01, 2024

Chart of Accounts | Your Blueprint

Chart of Accounts

Your chart of accounts is the blueprint of your accounting system around which everything is built. If your COA is poorly designed, the quality of your information is affected.

Continue reading "Chart of Accounts | Your Blueprint"

Jun 01, 2024

Developing Your Accounting System

A yardstick to measure your accounting system

Your accounting system is more than just the physical bookkeeping ledger or accounting software program you use. It is the gateway to ...

Continue reading "Developing Your Accounting System"

Jun 01, 2024

Evaluate Your Book Keeping System

A yardstick to measure your accounting system

Whether you are just starting out or have been in business awhile, how do you know if your book keeping system is the right one for your business? It’s best to keep it as simple as possible for ...

Continue reading "Evaluate Your Book Keeping System"

Jun 01, 2024

Canadian Bookkeeping Tips- Small Business Accounting Basics

Bookkeeping Tips

Over 30 basic home business accounting and bookkeeping tips along with information on managing your accounting system. Bookkeeping Essentials is a free resource for your book keeping questions.

Continue reading "Canadian Bookkeeping Tips- Small Business Accounting Basics"

 
 

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