| # | Work Steps | Ref./Forms Used |
|---|---|---|
| 1 | Ensures opening balance agrees to prior year closing balance | RC59 Instructions CRA Website (www.canada.ca) |
| 2 | AT to confirm that we have access to clients CRA Online Account. If we do not have access to the client’s CRA account, prepare RC59 for client to sign and submit to CRA | Caseware CRA Website (www.canada.ca) |
| 3 | Access client’s online CRA account to confirm GST/HST method-long or short and reporting period (both beginning and end dates) and upload CRA account balance and transaction for the GST/HST account to Caseware working papers | Caseware CRA Website (www.canada.ca) |
| 4 | Access client’s online CRA account to confirm payroll remitter type and upload CRA upload CRA account balance and transaction reports for the payroll account to Caseware working papers | Caseware CRA Website (www.canada.ca) |
| 5 | Access client’s online CRA account to confirm CRA corporate income tax balance and corporate tax installment payments and upload CRA account balance and transaction for corporate tax account to Caseware working papers | Caseware CRA Website (www.canada.ca) |
| 6 | Access client’s online CRA account to Print Notice of Assessment and Notice of Re-assessment for GST/HST account and corporate income tax account and upload to Caseware working papers | Caseware CRA Website (www.canada.ca) |
| 7 | Confirm if Bank reconciliation is completed, if not reconcile bank statements and accounts receivable | Caseware |
| 8 | AT/SA prepares cash reconciliation, ACB investments schedules and reviews T slips and T1135 | Caseware |
| 9 | AT/SA enters revenue, accounts receivables and expenses. Watch for misallocation of expenses. | Caseware |
| 10 | AT/SA prepares automobile and home office comparison. Actual vs. mileage. | Caseware |
| 11 | Confirm if client has new auto loans or home loans and if so, set up home/auto loan, calculate taxable benefit and attach purchase agreement to Caseware | Caseware |
| 12 | AT/SA calculates interest on existing home or auto loans, directors advances (if required). | Caseware |
| 13 | AT/SA Prepares depreciation schedule. | Caseware |
| 14 | AT/SA enters accounting and audit insurance accrual. | Caseware |
| 15 | AT/SA Records Directors fees paid and source deduction payments made | Caseware |
| 16 | AT/SA Records GST/HST instalments, Federal and Provincial corporate tax instalments for current year and prior year tax payment or refund. | Caseware |
| 17 | AT/SA Records fixed asset additions and GST/HST input tax credits. | Caseware |
| 18 | AT/SA Prepares GST/HST sundry income schedule, if quick method | Caseware |
| 19 | AT/SA Reconciles GST/HST, Corporate Tax, Source Deductions to CRA | Caseware |
| 20 | AT/SA Sets up Capital stock per initial minutes for new clients or makes change to share structure if existing client. Also, updates T2 Profile, schedule 50 | Caseware T2 Profile |
| 21 | If first corporate tax return, ensure that incorporation fees were provided and confirm if client has any pre-incorporation expenses | Caseware |
| 22 | Prepare query notes for Account Manager under Issues | Caseware |
| 23 | Reference and arrange file according to index | Caseware |
| 24 | If missing information identified during data entry, contact client and promote T2 WIP to stage 2. Once missing information is received from client, repeat steps 6 and onward if applicable. | CRM/Infusionsoft Stage 2 |
| 25 | Update T2 WIP and CPA CRM | CRM/Infusionsoft Stage 4CPA |
| 26 | Upload to Sharefile | Caseware T2 Profile Sharefile |
