Story: GST/HST Filing

I have started freelancing in April 2016. Accounting was always a headache. Making an invoice, follow up on the payment, bookkeeping, and paying tax. To be honest, I have no idea about GST/HST and filing. A long time ago, CRA called me to pay tax. I received an envelope, but I had no idea how to deal with it.

In 2021, I somehow calculate it, pay GST, and filing every year. It’s once a year. I don’t remember about details. Therefore, I am writing a blog for it.

I am using Wave Accounting software, but I did not master it. If I use Wave Accounting correctly, I don’t have to get a headache about accounting at the end of the facial year. I should know the revenue, expense, gross, and net.

Thanks to YouTube, people explain how to use Wave Accounting. Let’s learn it.

Wave Financial

Open Bookmarks Co. Blog Accounting Wave Financial
Open Bookmarks Co. Blog Accounting Wave Financial

I don’t remember how I found Wave Accounting. I got tired to make an invoice in 2016. I looked for a solution in 2017. Since then, I am using it. Mainly for making an invoice.

I was mainly a graphic designer. So, there was an expense, often a printing fee, during a project. I still don’t know how to record it, should I included it in an invoice or not. It’s not equal to the client’s invoice though, etc. Graphic designers understand that.

Wave Accounting Tutorial – Introduction to Wave Accounting for beginners (2019)

©Nuts Accounting

Non-Accountants, use Wave Accounting like a PRO in 30 Days!

©Nuts Accounting

Wave: How to add an expense transaction

How To Use Wave | Wave For Beginners | Wave Accounting Software Tutorial (2021)

©Knowledge By Marcus

YouTube Page on Wave

©Wave Apps

I don’t have to use recurring invoice yet, but it’s interesting as a function.

©Wave Apps

Conclusion: Have a curiosity

I think many freelancers do not fun about accounting. If I don’t have YouTube resources, I do not know whether I could file GST or not. I am not good at numbers.

However, I made Google Sheets for daily accounting. The image is below. It’s not difficult. Google automatically calculates it once you embed a formula. I don’t say please fun about accounting. Please have at least curiosity. It’s the first step to learn about accounting.

Open Bookmarks Co. Blog Accounting Google Sheets

Reference:

Wave Accounting
Danish Ghazi – Personal Finance: HOW TO FILE TAX RETURN ONLINE (CANADA) – STEP BY STEP GUIDE

Share This Story!

Let’s Study Together

Tell Me About Your Thought

I am learning the business of design as a freelance. I would like to hear your story based on an experience. Please send a comment or opinion. I will reply to you shortly.

LET’S TALK