Hello Reader!

Welcome to August 5th 2026! In this Newsletter:

• My Three Favourite Resources!
• What due dates are coming up in August?
• Updates: FFF Zoom, a new video, and now a Syllabus!
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My Three Favourite Resources for August!
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1. I Started a New Newsletter!: Last month I put AI through the Grand Gate Gardens Bookkeeping Simulation. I started out intending to document how far away AI was from reliable source-document bookkeeping in the messy real world. I ended up documenting how close it is. And where it failed. For the full story, check out my first post of my new newsletter series titled "The Source Documents". This newsletter is separate from this one, intended for bookkeepers and firm owners. You won't be added automatically. Sign up here if that's you.
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2. Innovation Canada's Business Benefits Finder: An interactive government tool where business owners enter their location, industry, and goals to get a tailored list of federal, provincial, and regional grants, funding programs, tax credits, and expert advice. You answer a few quick questions about your business, and the Business Benefits Finder generates a custom list of government support programs you actually qualify for.
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3. How to categorize a Trailer in the bookkeeping: When you buy a utility trailer for the business, is it considered an auto asset or an equipment asset? And why does it depend on whether you're thinking like a bookkeeper or a tax preparer? In Canada, CRA classifies trailers as Class 10 assets for Capital Cost Allowance purposes, (the same class as vehicles.) But from a GAAP perspective, a trailer is equipment, not an auto asset. In this video, I walk you through how to record a trailer purchase in QuickBooks Online (QBO), including how to handle the difference between CRA tax classifications and GAAP bookkeeping treatment.
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What Resources have you found that have helped you start, run, or grow your business? Feature it (and a callout to your business!) in our next Resources Newsletter!

What due dates are coming up in August?

Now’s the time to prep your August Calendar! #BeThatBusiness that is organized! Here are some August due dates that might affect your business:​
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• If you have employees, August 15th is the due date for your payroll source deductions relating to July's payroll if you are a regular remitter. (Note that in 2026, Aug 15th falls on a Saturday, so the due date moves to the first business day after)
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• If you have employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. In Ontario, WSIB is due quarterly, and the premiums on earnings from July 1st to Sept 30th are due on Oct 31st.​
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• August 17th is "Discovery Day" in the Yukon, a public holiday commemorating the anniversary of the discovery of gold in Yukon.​
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• If you are incorporated, and you owed greater than $3k in corporate Income Tax for your previous fiscal year, then you are required to pay installments for next year on the last day of every month. August 31st is the due date for the August Corporate Tax Installment.
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• Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, July's GST/HST filing and remittance is due on August 31st. Also, if your Corporate Fiscal Year End is February, your Corporate Tax Return is due 6 months after your Fiscal Year end (August 31st). If your Corporate Year End is June, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of August or end of September, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation.

This list is not exhaustive, but, they are some of the more universal due dates that could apply to you and your business. If your fiscal year end is not December 31st, be sure to note what due dates are specific to your schedule that are not universal to the generic year ends. CRA has a reference for business due dates here.

Updates:

FABULOUS FIRST FRIDAYS @FIVE!: Looking to connect? Join my live FABULOUS FIRST FRIDAYS @FIVE open Zoom Meeting! My Monthly Open AMA Zoom Chat Session where we can connect and discuss questions regarding all things bookkeeping and business in Canada. It's a free group event where anyone can drop by to say hi and ask a question! Click here to register! Next one is Friday August 7th.

I put AI through the bookkeeping simulation I use to train junior bookkeepers: and I recorded it all. This is the unedited 90-minute recording of the first test. Most of this is watching and waiting. It is bookmarked, so you don’t need to watch all 90 minutes, but I found it fascinating. The full write-up of what it got right and wrong is linked in the description.
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​Bookkeeping Simulation Syllabus: There's now a week-by-week Syllabus of the Grand Gate Gardens Simulation; what arrives in the paperwork each week, and what each week teaches and tests. Useful if you're weighing it up for yourself or someone on your team.

Be Intentional Today! Get out there, and Be That Business That Thrives! Naomi Wilkins, CPB ​I Love Making Bookkeeping Make Sense ​www.naomiwilkins.ca​ Need more than a First Friday fix?​ Here are a few ways I can help: • QBO GST/HST Module Fix​ • QBO File Health & Reliability Review​ • Nifty Nomi One-on-One Zoom Session​ ​ Let's Get Social! Disclaimer: This Newsletter is intended to inform readers in general terms. It is not intended to provide any tax or business advice. Please consult your accountant if you have any questions about your unique situation. While I have tried to ensure the accuracy of the information in this newsletter, I accept no liability for errors or omissions.