In the “My Documents” screen, you can rename files quickly by selecting the filename and hitting the F2 key.

Some charities that are registered to charge GST/HST qualify to file under the general method, where they can claim 100% input tax credits rather than partial rebates. You will find details on the CRA website.

For most small and mid-sized organizations, payroll source deductions must be remitted to the Canada Revenue Agency on the 15th of the month, for the preceding month’s activity. (Larger organizations may need to remit more frequently.)

Do you have a question about GST/HST? Contact the GST/HST Rulings Hotline at 1-800-952-8987 to speak to an officer.

Don’t let spare cash sit in your bank account! Most business chequing accounts pay 0% interest. Work with your bank, accountant, treasurer and other advisors to identify investment vehicles that offer the right mix of risk and return.

Target a minimum bank balance that works for your organization, considering rent, payroll and other overhead as well as the ebb and flow of project expenses. Think well in advance to plan around peaks and valleys.

Complete repeated tasks more efficiently by creating spreadsheet templates. Use the “Save As” command to duplicate your template as needed, leaving the original blank.

The only way not-for-profits can build up their net assets is to make more money than they spend. Watch that bottom line!
Financial Management, Assets, Revenue, Expense, Financial Statements

The Windows clipboard is like a memo pad that allows pieces of information to be temporarily stored and then retrieved later by another application. The “copy” command moves content to the clipboard. The “paste” command retrieves and inserts it.

If the CRA determines that a staff member has been improperly treated as a self-employed person, you can be charged both the employer’s and the employee’s share of EI premiums and CPP contributions for the period in question.