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Subject Author Date
Reconciliation Stephane 05-09-2008
Posted by Stephane on May 9, 2008, 10:27 am
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 I opened a new business an IT Support.

Do I post my montlhly reconciliation after I submitted my report to GST and
PST? or before?

Thanks, Stéphane



Posted by David Smith on May 9, 2008, 10:42 am
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>I opened a new business an IT Support.
>
> Do I post my montlhly reconciliation after I submitted my report to GST
> and PST? or before?

What "monthly reconciliation? would that be? If you mean reconcile the
bank -you might want to as a step to ensure transactions are not missing.
The step of reconciling will not affect those reports otherwise.



Posted by Stephane on May 9, 2008, 6:30 pm
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So what you are saying is that it does not matter either way?

>>I opened a new business an IT Support.
>>
>> Do I post my montlhly reconciliation after I submitted my report to GST
>> and PST? or before?
>
> What "monthly reconciliation? would that be? If you mean reconcile the
> bank -you might want to as a step to ensure transactions are not missing.
> The step of reconciling will not affect those reports otherwise.
>



Posted by David Smith on May 10, 2008, 10:22 am
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What I am saying is -if you do the reconciliation you may find transactions
which are either wrong or unrecorded which may affect those returns. Not
doing the reconciliation will not prevent you from filing your sales taxes.


> So what you are saying is that it does not matter either way?
>
>>>I opened a new business an IT Support.
>>>
>>> Do I post my montlhly reconciliation after I submitted my report to GST
>>> and PST? or before?
>>
>> What "monthly reconciliation? would that be? If you mean reconcile the
>> bank -you might want to as a step to ensure transactions are not missing.
>> The step of reconciling will not affect those reports otherwise.
>>
>
>



Posted by QBConsultant on May 10, 2008, 8:11 am
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> I opened a new business an IT Support.
>
> Do I post my montlhly reconciliation after I submitted my report to GST an=
d
> PST? or before?
>
> Thanks, St=E9phane

Yes, you should do a monthly bank reconciliation. What report are you
submitting? What is GST and PST?

Michelle L. Long, CPA, MBA
Author of: Successful QuickBooks Consulting: The Complete Guide to
Starting and Growing a QuickBooks Consulting Business
http://www.SuccessfulQuickBooksConsulting.com
http://www.amazon.com/Successful-QuickBooks-Consulting-Comprehensive-Startin=
g/dp/1434810690

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