the government can be so frustrating

[Scythanith]

Originally Posted by 604reefer

About a year ago I tried Quickbooks online... quickly discovered you couldn't export your data and nixed that stat. Locked in forever at that point.

What are you looking to export? I can export directly to excel if I want.

[e46er]

Quickbooks online reports are always a little iffy
I’ve switched to sage and it’s been much better.
I think the version I got is ~$600 a year

[Scythanith]

I pay $10/month and my accountant loves it.

[Myka]

Originally Posted by e46er

Quickbooks online reports are always a little iffy
I’ve switched to sage and it’s been much better.
I think the version I got is ~$600 a year

You have the payroll version then. I work that out myself and save $600 /yr. They do a promo where you can try out the payroll add-on for 90 days so I messed around with it and figured out the formulas it was using. Easy peasy.

[spit.fire]

Originally Posted by Myka

You have the payroll version then. I work that out myself and save $600 /yr. They do a promo where you can try out the payroll add-on for 90 days so I messed around with it and figured out the formulas it was using. Easy peasy.

Lol care to share the formulas haha, haven’t found an accountant to date yet

[Myka]

Originally Posted by spit.fire

Lol care to share the formulas haha, haven’t found an accountant to date yet

Sign up for the 90-day promo. Then plug in some numbers. It does CPP and all that, which being self employed, you don't pay into. So essentially all you have to do is figure out your tax bracket for provincial and federal taxes and deduct that. I simply plugged in numbers like $500, 1000, 1500, 2000, 2500, and so on. If you only paying yourself then as long as you're close and you put those taxes aside, you're good to go. If you're paying employees, it's probably worth the $600/yr for payroll, or pay a book keeper to do your books for you.

[604reefer]

Originally Posted by Scythanith

What are you looking to export? I can export directly to excel if I want.

Interesting, you always could with the USA version, I wonder if they finally got enough complaints and added it in the 18 months since I tried it.

Originally Posted by spit.fire

Lol care to share the formulas haha, haven’t found an accountant to date yet

If you're running simple payroll you can use the government's payroll deductions calculator here: https://www.canada.ca/en/revenue-age...alculator.html

For your year end T4s and what not you may find it helpful to get an accountant. But send me a PM with questions if you have any and I might be able to help... I do bookkeeping and almost a CPA.

Originally Posted by Myka

Sign up for the 90-day promo. Then plug in some numbers. It does CPP and all that, which being self employed, you don't pay into. So essentially all you have to do is figure out your tax bracket for provincial and federal taxes and deduct that. I simply plugged in numbers like $500, 1000, 1500, 2000, 2500, and so on. If you only paying yourself then as long as you're close and you put those taxes aside, you're good to go. If you're paying employees, it's probably worth the $600/yr for payroll, or pay a book keeper to do your books for you.

Yep, a missed deduction = you pay employer + employee portion at end of year plus possible interest and penalties, which can easily be more than the software or a bookkeeper/accountant depending on the size of your business.