Blog — Kin Receipts

Short notes on receipts, GST/HST, mileage, and the T2125 year-end pack.

• Why Your Bookkeeper Hates Paper Receipts (And What to Do Instead) — Paper fades, lives in a bag, and arrives in a dump the week before filing. Here is why that pile costs real hours — and what a sorted shoebox actually looks like.
• Vehicle Expenses and CRA: What You Need to Track — Vehicle claims get looked at. You need the kilometres, the purpose, and the slips — not a round number you invented in April.
• Construction Holdbacks: How to Record Them in Your Books — A holdback is not a discount and it is not bad debt. It is money you earned that someone is legally holding. Record it that way.
• The 50% Meal Deductibility Rule: What Qualifies and What Does Not — Most business meals in Canada are only half deductible. The receipt is not enough — you still have to know it was a business meal.
• CCA Classes Explained: Which Class Does Your Equipment Belong In? — A $4,000 saw is not the same write-off as a $40 tank of fuel. Capital cost allowance is how Canada spreads the cost of tools and equipment.
• EFT Confirmations: How to Record Them Without Creating Duplicate Entries — An EFT confirmation is proof you paid. It is not a new expense. Booking both the invoice and the EFT is how duplicates are born.
• Invoice vs Receipt: The Difference and Why It Matters in QuickBooks — An invoice is a bill. A receipt is proof you paid. In QuickBooks those become different entries. Mixing them wrecks payables.
• GST vs HST vs PST — Which Provinces Charge Which Tax? — GST is 5% everywhere. HST replaces it in five provinces. Three more add PST. Quebec adds QST. PST is not an input tax credit.