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Hst and contracts

Have you been keeping an eye on the monthly fees for your service contracts? How are you capturing and reporting on your service contracts?

The addition of the hst to service contracts has left several record keeping methods in dire needs of a tune up.

If you have not been adding the monthly increase of the tax to your monthly record keeping for your service contracts then you are for spootacular surprise when you reconcile your books.

If your in ontario then be sure to revisit your tax values being used to calculate costs.
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