Bookkeeping and Accounting

Choose the Best Solution for Your Business

Do you want to handle the bookkeeping yourself? Scroll down for our 12 Steps on DIY Bookkeeping using QuickBooks Online.

Prefer a complete solution? Check out our Subscription Plans for professional support.

Sole Proprietorship Tax Return Filing

If you’re a sole proprietor, filing your business tax return is essential to maintain compliance and keep your financials organized. This filing includes completing a T2125 Business Return to report business income and expenses, along with an HST return if your revenue exceeds $30,000 annually.

Managing a sole proprietorship’s taxes doesn’t have to be complicated. Let us handle it for you with our Monthly Plans, designed to simplify your tax filing and maximize your tax benefits.

Do it Yourself - Bookkeeping in 12 Steps (32 minutes)

If you are a small to medium-sized business looking to complete your own bookkeeping efficiently, QuickBooks Online is the perfect fit. This cloud-based accounting software simplifies bookkeeping by linking your bank and credit card accounts to automatically categorize transactions.

QuickBooks Online requires a monthly subscription, which we can offer at a discounted rate through our ProAdvisor benefits. Contact us to set up a discounted subscription.

Once your bookkeeping is complete, consider our Annual Tax Plans for comprehensive support.

For more resources on QuickBooks, access our Client Hub - QuickBooks Resources.

Ready? Let’s Get Started in Just 32 Minutes!

Step 1: Sign up for QuickBooks Online

Set up your QuickBooks Online account directly through Intuit at this link: QuickBooks Online.
*Prices are based on QuickBooks rates and may vary according to QuickBooks' pricing policies.

Prefer a discount? We get special pricing from QuickBooks. Give us a call!

Step 2: Setting up your Chart of Accounts

Let’s talk about your Chart of Accounts. This is a list of categories that QuickBooks Online uses to track and summarize all money movements for your company’s financial statements. Setting it up properly helps ensure accurate reporting and analysis.

Let’s move into Step 3!

Step 3: Connect Bank Account to QuickBooks Online

Connecting your bank and credit card accounts to QuickBooks Online eliminates tons of data entry, helping you keep your business’s books up to date all the time. This setup ensures accurate tracking and simplifies bookkeeping.

Scroll into Step 4!

Step 4: Add Customers to QuickBooks Online

A great way to get started in QuickBooks Online is by adding your customers’ contact information. You can import all your customer data at once from a spreadsheet, or add customers one at a time.

Slide into Step 5!

Step 5: Create an Invoice in QuickBooks Online

Do you complete work for your clients and then invoice them later? QuickBooks Online makes it easy to create and send invoices, keeping track of all outstanding payments.

You’re doing great! Move into Step 6!

Step 6: How to Manage Bills in QuickBooks Online

You’ve entered expenses, recorded checks, and managed bills in QuickBooks, setting yourself up to generate reports that reveal how money flows out of your business. Here’s how to keep it all organized.

You are a rockstar! Jump into Step 7!

Step 7: How to Manage Expenses in QuickBooks Online

Discover how to manage expenses in QuickBooks. You’ll be able to connect your bank accounts and credit cards, automatically download transactions, and view detailed profit and loss statements.

Let’s slide into Step 8!

Step 8: Bank Deposits and Undeposited Funds

When recording customer payments in QuickBooks Online, you’ll need to choose where to deposit the funds. This choice depends on how you deposit money in real life. If you deposit multiple checks or cash payments at once, Undeposited Funds helps keep your checking account accurate.

Almost there! Go to Step 9.

Step 9: Categorize Bank and Credit Card Statements

So you’ve connected your bank accounts to QuickBooks and downloaded the last 90 days of transactions. Now it’s time to categorize each transaction to ensure accurate records for your financial statements.

Let’s move into Step 10!

Step 10: Reconcile Your Accounts in QuickBooks Online

Whether you’ve connected your bank accounts or are managing things manually, reconciling your accounts in QuickBooks ensures everything matches your bank statements. Here’s how to keep your books accurate.

Scroll into Step 11!

Step 11: Reporting & Customizing in QuickBooks Online

QuickBooks offers numerous pre-made reports that you can customize to display the exact information you need, in the format you prefer. You can even set up automatic emails for your custom reports. Learn how to personalize them in this helpful video.

You made it! One more slide into the final base, Step 12.

Step 12: Invite Your Accountant for Tax Time

Learn how to invite your accountant to collaborate with you on QuickBooks. This step ensures seamless support as tax season approaches.

You’ve completed the bookkeeping side, and now we’ll take over the tax work required—Corporate Tax, Business Tax, Personal Tax, and more!

Did you know we offer monthly plans where we handle all bookkeeping for you? Check them out here: Monthly Subscription Plans.

Optional: Self-help Support

If you’re looking for self-help support, we’ve compiled excellent resources for you. Access them here: QuickBooks Resources.

Mandatory: Tax Filing Requirement

If you have a Corporation, you are required to file both Corporate Tax and HST filings. For a Sole Proprietorship, a T2125 Business Return and HST filing are mandatory.

Want to make tax filing easy? Check out our Monthly Plans.

 

FAQ’s - Bookkeeping EDITION

  • Our 12-Step DIY Bookkeeping Guide gives you the essential tools to handle your own books in just 32 minutes! If you follow it carefully, you’ll be well-prepared to tackle bookkeeping on your own. If you'd still like a helping hand, book a session with us for just $75, HST included.

  • Our free DIY support is a valuable guide—but only if you go through each step! We’ve put together everything you need to get started with bookkeeping, including videos and walkthroughs. And if you get stuck, our QuickBooks ProAdvisor is here for one-on-one help.

  • Of course! For any specific questions, book a QuickBooks ProAdvisor session for $75. For unlimited support, explore our Monthly Plans, which include both human and AI support to keep you covered 24/7.

  • We’ve honed our skills over years of experience and consistently rank among the Top 100 QuickBooks ProAdvisors. Our team has developed a system so efficient that we can complete one year’s bookkeeping in just a week, combining speed with accuracy.

  • If you run into any issues, simply book a QuickBooks session with us. We’re here to ensure you get through your bookkeeping smoothly, whether it’s a quick question or a full review.

  • Yes, our monthly plans include comprehensive bookkeeping services, so you can focus on running your business while we handle your financials. Explore our Monthly Plans for more details.

  • If your business earns over $30,000 annually, HST filing is required. We offer specialized HST sessions to simplify this process, and we’re here to guide you every step of the way.

  • Our “Do It for You” service handles all bookkeeping tasks up to the selected transaction limit, completing most annual bookkeeping tasks in just a week. It’s the fast, efficient way to keep your books up to date.

  • Bookkeeping involves precision and consistency, which can make it time-consuming. We take care of all the details to ensure accurate records and compliance, so you don’t have to worry about the workload.

  • You can manage as many bank accounts as you need. Our pricing is based on the volume of transactions, not the number of accounts, although we recommend keeping business accounts streamlined.

  • Yes! Our 12-Step Guide includes a video on setting up a Chart of Accounts. If you’d like further help, book a QuickBooks ProAdvisor session with us for step-by-step support.

  • Canadian banks occasionally limit third-party access to feeds, causing disconnects. If this happens, book a session with our QuickBooks ProAdvisor, and we’ll help you reconnect quickly.

  • This is a common issue with DIY bookkeeping, but we’re here to help. Our guide above explains how to correct undeposited funds. For hands-on help, book a session with us.

  • Once your bookkeeping is complete, it’s time to think about taxes. We offer both Monthly Plans and Annual Plans to support all your tax needs.

  • Yes, we provide automated payroll solutions that make payroll processing effortless. Explore our Payroll Solutions to simplify your payroll tasks.