GST / PST

Apr 13, 2005 4 Replies

Silly question: Does anyone know why it is important to reconcil before doing the GST and PST Taxes?


No, I give up, why? Arno

I was told it is important to reconcil before filing them. I was asking if anyone heard about that. A CGA told me that.

My advice: whenever "someone" tells you something, ask THAT person "Why?"

In this case I would also ask, "Reconcile WHAT?"

Maybe your CGA was just making a general "motherhood" observation - check the numbers before filing the returns. I would agree with that.

Being an accounting amateur, and having had all those little problems before you pointed me in the right direction, I still check all my saved memorized reports from QBWin2.0 to see that the figures are the same as in the built-in GST Report. I also use the old Excel spread sheet (originally a Lotus 1-2-3) that is set up to give me a print out, once I enter the 101, 103 and 105 values.

I use Netfile if a refund is due but usually take the form and pay the money on my travels at the Scarborough Business Window. Arno

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