Monthly Archives: May 2012

Canadian – Sales Tax Invoice Requirements Make sure you are Complying

bookkeeping, small business accounting, small business bc

sales invoices for GST/HST registrants

You have to give customers who are GST/HST registrants specific information on the invoices, receipts, contracts, or other business papers that you use when you provide taxable goods and services. This information lets them support their claims for input tax credit (ITCs) or rebates for the GST/HST you charged. Similarly, when you make business purchases, the invoices from your suppliers will substantiate your claims for ITCs or rebates.

When there is no invoice available, see Exception to invoice requirements to verify what type of information you need to claim an ITC. If your customers ask you for an invoice or receipt to claim an ITC, depending on the amount of the sale, you are required by law to give them the following information:

Information required

Total sale under $30

Total sale $30 to $149.99

Total sale $150 or more
Your business or trading name, or yourintermediary’s name (person with whom you have an agreement to help you supply your goods or services)

X

X

X
Invoice date or, if you do not issue an invoice, the date the GST/HST is paid or payable

X

X

X
Total amount paid or payable

X

X

X
An indication of the total amount of GST/HST charged or that the amount paid or payable for each taxable supply (other than zero-rated supplies) includes GST/HST at the applicable rate.

 

X

X
When you supply items taxable at the GST rate and the HST rate, an indication of which items are taxed at the GST rate and which are taxed at the HST rate.

 

X

X
Your Business Number or your intermediary‘s Business Number (registrant with whom you have an agreement to help you supply your goods or services)

 

X

X
The buyer’s name or trading name or the name of their authorized agent or representative  

 

X
A brief description of the goods or services  

 

X
Terms of payment  

 

X

Dianne Mueller

Certified Professional Bookkeeper


SIM101H3 – Sage Simply Accounting – Operating your Business
Hands-on Lab Series’

Inventory, Projects, Time and Billing, Budgets, Departmental Accounting and more Join us for this one day hands-on course and gain a solid understanding of what you need to utilize the operational functionality of Sage Simply Accounting.  The course will focus on Inventory, Project Management, Time and Billing, Budgeting, Departmental Accounting and related Financial Statements as well as Forms Customization.  We will also review the operational flow of all these different parts and explain how it all rolls up to your Financial Statements.
ANYTIME LEARNING INCLUDED: All Hands-on Training courses include access to the Sage Simply Accounting Orientation which provides you access to a number of FREE recommended prerequisite Anytime Learning sessions designed to provide you with the knowledge needed to get the most out of your training experience.View Sage Simply Accounting Orientation Content
AUDIENCE:   Great hands-on course for people new to Sage Simply Accounting or just looking to use more of its functionality.
Select Course Details for more information

REGISTER

List Price: $309.00
Early Bird Price: $289.00

Instructor: Dianne Mueller June 20, 2012 08:30 AM – 05:00 PM Pacific Time (US & Canada)  Lab – Vancouver, BC  Directions  Course Details
Early Bird Price – Expires May 30, 2012: $289.00 (CAD

Sage Simply Accounting – Setup, Sales, Receivables and Financials

bookkeeping, Sage, Sage 50 - Canadian Edition, Sage Simply Accounting, Sage Summit, simply accounting, small business, small business accounting, small business bc
SIM101H1 – Sage Simply Accounting – Setup, Sales, Receivables and Financials
Hands-on Lab Series’

Join us for this one day hands-on course and gain a solid understanding of what you need to get started with Sage Simply Accounting. The course will focus on company setup, chart of accounts, and related financial statements as well as the setup of customers and processing their corresponding sales transactions.ANYTIME LEARNING INCLUDED: All Hands-on Training courses include access to the Sage Simply Accounting – Orientation which provides you access to a number of FREE recommended prerequisite Anytime Learning sessions designed to provide you with the knowledge needed to get the most out of your training experience. View Sage Simply Accounting Orientation ContentAUDIENCE:Great hands-on course for people new to Sage Simply Accounting or just looking to use more of its functionality.

REGISTER

List Price: $309.00
Early Bird Price: $289.00
Instructor: Dianne Mueller June 18, 2012 08:30 AM – 05:00 PM Pacific Time (US & Canada) Lab – Vancouver, BC  Directions  Course Details
Early Bird Price – Expires May 28, 2012: $289.00 (CAD)

Sage SimplyAccounting – Training -Accounts Payable and Banking

bookkeeping, Sage, Sage 50 - Canadian Edition, Sage Simply Accounting, Sage Summit, simply accounting, small business, small business accounting, small business bc
SIM101H2 – Sage Simply Accounting – Accounts Payable & Banking
Hands-on Lab Series’

Join us for this one day hands-on course and gain a solid understanding of what you need to manage your money with Sage Simply Accounting.  The course will focus on entering and paying your bills, credit card setup and use, and related banking transactions and reconciliation.  We will tie these transactions back to the impact on Financial Statements.
ANYTIME LEARNING INCLUDED: All Hands-on Training courses include access to the Sage Simply Accounting Orientation which provides you access to a number of FREE recommended prerequisite Anytime Learning sessions designed to provide you with the knowledge needed to get the most out of your training experience.  View Sage Simply Accounting Orientation Content
AUDIENCE:   Great hands-on course for people new to Sage Simply Accounting or just looking to use more of its functionality.
Select Course Details for more information REGISTER

List Price: $309.00
Early Bird Price: $289.00

 
Instructor: Dianne Mueller June 19, 2012 08:30 AM – 05:00 PM Pacific Time (US & Canada)  Lab – Vancouver, BC  Directions  Course Details
Early Bird Price – Expires May 29, 2012: $289.00 (CAD)

Friends with Benefits

bookkeeping, Sage, Sage 50 - Canadian Edition, Sage Simply Accounting, Sage Summit, simply accounting, small business, small business accounting, small business bc

In layman’s terms, Sage City is like a hybrid of education, social media and networking all in one event. Don’t get left in the dust or you may end up like this guy –

can I be your friend?

There are great business relationship benefits that you get from networking events where you meet other people who share similar common interests, goals and expertise as you. To access these benefits you have to get out from behind that desk of yours and go to places like Sage Summit “A place where networking actually works”, also known as Sage City where you can take your Big Idea to a Small Village. I quite enjoy attending round table product sessions and discussing the product I’m using or interested in with like-minded users. From what I gather, I will get my fix by attending a village at Sage City.

At Sage City on Tuesday August 14th at 3:30pm, we will all explore numerous villages based on the top business interests of Sage Summit attendees (Customers, Partners and Staff). Villages provide the primary means for Sage to organize attendees into groups with common goals, backgrounds, challenges, and perspectives. Sage City aims to place similar customers by product, interest, and hot topics in small groups to create meaningful, long-lasting connections. (sounds a bit like marriage, no? Well maybe not the small groups part!)

Hot topics will be determined through several means, including surveys prior to and during registration, social media tools, Facewall, and more. The number of hot topics will vary from village to village and will be displayed on their chat walls. What are chat walls you ask? Well, there will be white-board style signs that will be displayed at each village. This is where the collaboration will happen, you can give solutions and get answers all in one place, a village working together.

Speaking of villages, remember where’s waldo? That’s what I will be asking when I am trying to find YOU (yeah you!) at this conference if you are not on Facewall. You will definitely know where to find me. Maybe I’ll be a village Host, maybe not. I guess you will have to wait to find out won’t you? Hopefully by the time I finish writing this blog someone will have won the 100th facewall sign up and receive a gift certificate to the Grand Ole Opry! It’s super easy, all you do is set up your profile during the registration process!

Bianca Lightheart

Soma Small Business Solutions

www.simplysoma.com

@Simply_Soma

@blighthearted

Two of My Favorite Features in Sage 50 Canadian Edition

bookkeeping, Sage, Sage Simply Accounting, small business accounting

 

The Daily Business Manager: It can help you complete routine bookkeeping tasks efficiently. If you choose to have the DBM open up every time you start the program, you can complete many transactions right from the DBM window, saving a lot of time.

To automatically display or hide the Daily Business Manager when starting Sage 50 Canadian Edition or after changing the session date:

  1. In the Home window on the Setup menu, choose User Preferences.
  2. Click the view tab.
  3. In the Daily Business Manager section, check either At Startup or After Changing Session Date (or both) to add or remove the check mark that indicates that the Daily Business Manager will be displayed.

    Once the DBM opens up, look under view than options and put a check in the boxes for the events you wish to perform right from the DBM screen.

Whenever you start up Sage 50 Canadian Edition, The DBM screen will open for you to review the items on each tab of the To-Do-List.

  • All payments due can be processed in seconds and set to be batch printed by placing a check mark in the post column beside all those you would like to pay.
  • Any Recurring Sales Transactions can also be processed in seconds by placing a check mark in the post column, printed and processed in one easy step or batched printed.
  • This is an incredible feature for rent rolls, automatic billings, subscriptions and many more monthly tasks to be performed quickly and efficiently on the first day of the month.

 

Make any adjustments that you need by clicking on a particular transaction making the change and process the transaction. Sage 50 Canadian Edition will return to the To-Do-List for the next task.

 Multiple Warehouse Locations: Most
small business that deals in products keep some of their inventory at more than one location, for example at home in the basement or at two store locations. Your larger clients will have regional warehouses to cut back on shipping costs. It can be very helpful to know what inventory is where to expedite deliveries, shipping and re-ordering of goods. Drop shipments become manageable by creating a supplier as one of your warehouse locations allowing you to ship direct from factory to customer.

 

These are just two of the many hidden gems in Sage 50 Canadian Edition. I hope if you are not currently using the DBM or multiple warehouse location features you will give them a try I find them both useful and they have save me many hours!

 

Dianne Mueller, Certified Professional Bookkeeper

Soma Small Business Solutions

www.simplysoma.com

 

Reminder – GST/HST Invoice over $30.00

Uncategorized

 

For the purposes of claiming input tax credits (ITCs) on your purchases of $30 or more, the Act requires you to have supporting documentation for the purchase, which includes the GST/HST registration number of the supplier from whom you are purchasing goods or services.

 

The GST/HST account number (also referred to as a Business Number or registration number) must be included on receipts, invoices, contracts, or other business papers used when taxable goods or services of $30 or more are supplied by a person registered for GST/HST.

You can verify whether your suppliers are providing valid GST/HST numbers by using theGST/HST Registry. Visit the CRA Web page at www.cra.gc.ca/gsthstregistry.

 

Graduation

bookkeeping, Sage, Sage Simply Accounting, simply accounting, small business, small business accounting, small business bc, Uncategorized

To all my fellow Graduates who attended Prom (AKA Simply Partnership 2011) it’s time to put all the glitz and glam of Vegas behind us and our yearbooks away. What happens in Vegas stays in Vegas right? Well, maybe for the engineers who crashed our party, or the pink flamingo girls. Put your caps back on because it isn’t over yet. Sage has plans, big plans. Big plans that involve Country Music, a 5K walk/run, hands on learning, World Class Speakers and Sage City to name a few.

Time to pack your bags again but this time for the big leagues, Sage Summit! What is this you might ask? Well it’s the best conference on the planet. So I hear. But I’m not one for learning through the grapevine. I’m honing my inner cowgirl and I’m saddling up for Nashville in fact, I’ve already registered and booked my flight. There is no easy way to get there from Canada, I’ll tell you that much.

Now you may think I’m a little eager, excited, spontaneous, but no. I’m thinking ahead, I got the early bird discount and went on a payment plan so that I can make the best out of my First Sage Summit.

So what does Sage have in store for us now? If you are a Sage partner and a first-timer to Summit, look no further.

Choosing a hotel can be a tad challenging which is why I really enjoyed reading Brad Hartz‘s blog on The Biosphere. If I’m going to experience this first hand then I’ll definitely have to stay at the Gaylord Opryland Resort, besides that is where my roommate wants to stay as well.

Let’s get down to business, so what Sessions do I register for? Conveniently for me, there are two partner tracks– the first is for Product Skills which includes hands on learning sessions for Sage products as well as other solutions that integrate with Sage Applications and second, Business Skills track with workshops to expand your skills in your area of expertise both of which will be extremely valuable in my business.

And what better to do after class then meet up with cowboys fellow partners, first-timers, Alumni, and Sage employees? I hear that there will be a mobile App coming out this month so we can all stay in touch while conference”ing”. Oh and who needs facebook when you have facewall. Come check everyone out.