Capital assets
The client's capital asset register: acquisitions, disposals, accounting amortization and tax CCA, side by side. The year's amortization is calculated for each asset. Accounts are set up once per client.
See the tutorial →Working papers
A complete library of working papers.
The working papers are already in Ledger. You enter a few values, and the calculations, last year's carry-forward and the adjusting entry are done for you. All 13 working papers are included in both plans.
LWorking papers·Example Company Inc.
Fiscal 2025↑ Click a working paper to preview it.
SummaryInstalmentsEntry
Taxable income
85 000 $
Tax for the year
10 370 $
Instalments paid
8 000 $
Balance owing
2 370 $
Entry prepared: Debit Income taxes 10 370 · Credit Instalments 8 000 · Credit Taxes payable 2 370.
ReturnEntry
Sales incl. taxes
114 975 $
GST to remit
3 839,10 $
QST to remit
7 274,14 $
Gain to income
3 861,76 $
SlipsSummary
Slips entered
4
Interest
1 240,00 $
Dividends
3 500,00 $
Capital gains
4 400,00 $
What every working paper does for you
Suggested from the trial balance
When you open a file, Ledger reads the trial balance and suggests the working papers you need: a capital asset account, a loan or an income tax balance is enough. The ones it cannot guess are one click away.
Last year is already there
When you roll the file forward, the asset and loan lists follow with their history. You never re-enter a loan schedule or the capital asset register.
The entry is ready
Each working paper prepares its adjusting entry. You review it, and it goes into the trial balance.
Printed in your colours
Each working paper prints for the file with your firm's letterhead: logo, font and colour.
LLong-term debt·Adjusting entry
Ready to submitCheck
8 137,00
Debits
=
8 137,00
Credits
The year's payments ($20,000) had been posted to the loan: the working paper moves the $8,137 of interest out, based on the schedule.
The 13 working papers
Balance sheet
Long-term debt
Enter the amount, the rate and the payment, and the schedule is calculated: interest, principal, accrued interest and current portion. The working paper also gives the repayments for the next five years for the note to the financial statements. It handles long-term lines of credit and merchant cash advances, including early repayment.
See the tutorial →Capital leases
For a vehicle or equipment under a capital lease (ASPE 3065): lease classification, leased asset, obligation split between current and long term, and taxes. Ledger suggests it when the trial balance shows a lease obligation or a leased asset.
Prepaid expenses
Enter the invoice amount and the period covered. The working paper calculates this year's share and the amount to defer, then prepares the entry.
Accrued liabilities
The list of year-end accrued expenses, with the adjusting entry done for you.
First-time adoption
For a client moving from a compilation to a review engagement and adopting ASPE (Section 1500): transition entries, opening balance sheet and reconciliations for the impact note. Ledger suggests it automatically at the first review.
Income taxes
Income taxes
The federal and provincial tax provision, instalments paid, refundable portion and entries. Tax owing shows as a positive number, as on a return.
See the tutorial →Automobile benefit
The taxable benefit of an employee or shareholder who uses a company vehicle: standby charge, operating costs and taxes to remit.
See the tutorial →Home office
The share of home expenses used for work, federal and Quebec, with the section 18(12) limit and the carry-forward of the undeducted portion.
See the tutorial →Investment income reconciliation
Enter the slips (T3/RL-16, T5/RL-3, T5008…) box by box. The working paper summarizes income by type and carries it to T2 schedules 3, 6, 7 and 21.
See the tutorial →Sales taxes
Quick Method (GST-QST)
The client's sales tax return under the Quick Method, with the rates of their province and the entry done for you.
See the tutorial →Sales tax reconciliation
Reconciling GST, HST and QST book balances with the returns filed, and the entry that corrects the difference.
See the tutorial →Free-form
Spreadsheets
A free-form sheet, like Excel: cells, formulas and totals, with .xlsx export. For a one-off calculation, a budget-to-actual comparison, or a table your client asks for.
Frequently asked questions
Are the working papers included in the price?
Yes. All 13 working papers are included in the Standard and Premium plans.
Do I have to turn on each working paper?
No. Ledger suggests the working papers you need from the trial balance. The automobile benefit, home office and spreadsheets cannot be guessed from the trial balance: they are one click away.
What happens the following year?
When you roll the file forward, assets and loans follow with their history, and the working papers you turned on stay on. Investment income slips are entered each year.
Can I export a working paper to Excel?
Spreadsheets and the Long-term debt working paper export to Excel. Every working paper prints with your firm's letterhead.
Try all 13 working papers on a real file.
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