Record keeping is considered by many entrepreneurs as one of the "least important" part of operating a business (unless you are an accountant). However, good record keeping is essential to your financial survival. It also provides you the information paper trail tool to navigate through your records to uncover where the possibility of fraud is occurring or has occurred.

Intellectual property and trade secret theft increases every year. Intellectual property theft is different than the theft of physical property. Instead, it involves stealing or misusing proprietary information a company (or person) owns.

T2154 - Yikes, your company has been forgiven a debt… That could mean you have income and gst to report unless you designate the amount was initially an equipment cost and reduce the asset value.

Rule of 9
If you have un reconciled balance - If the variance is dividable by 9, likely a number reversal – you have input 11 instead if 21
Example
11 or 21 = difference of nine
17 or 71 = difference of 54 (divided by nine)
 
Sales rate factor determiner
to apply to any gross amount that includes sales tax to obtain actual sales tax amount.
Sales tax divided by (sales tax rate +100 ) = rate to apply to gross amount to get sales tax amount.
 
5 divided by 105 = .0476190476
$1.05 x .0476190476 = 5 cents sales tax.
 
13 divided by 113 = .11504424778

72 years to double your investment