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Financial clarity starts here.
Practical insights, real-world advice, and straight talk from the Castle team. Whether you're managing your own books or growing a business, we're here to help you stay organized, confident, and CRA-ready.
Terms of Service
Welcome to Castle! These terms of service outline the rules and regulations for the use of our bookkeeping services.
By accessing this website and using our services, you accept these terms and conditions in full. Do not continue to use Castle services if you do not accept all of the terms and conditions stated on this page.
Castle offers professional bookkeeping services including transaction categorization, reconciliations, financial reporting, GST/HST filing, and other related services as agreed upon with the client.
2. Billing and Payments
All services provided by Castle are billed on a recurring basis unless otherwise
agreed upon. Payments are due upon receipt of invoice. We accept payment via credit card, debit card, and electronic funds transfer.
3. Cancellation and Refund Policy
Clients may cancel services at any time by providing 30 days’ notice in writing or via email. Refunds for prepaid services will be prorated based on the remaining unused portion of the services.
4. Privacy Policy
Our privacy policy outlines how we collect, use, and protect your personal information. We do not sell or share your information with third parties without your consent, except as required by law.
5. Liability
Castle will perform all services with reasonable care and skill. However, we do not accept liability for losses resulting from acts of nature, third-party errors, or misuse of financial information or reports by the client.
6. Amendments
Castle reserves the right to amend these terms of service at any time. Amendments will be effective immediately upon posting on this website.
7. Contact Us
If you have any questions about this privacy policy or our privacy practices, please contact us at:
Castle
316 1st Ave NE
Phone: 587-872-0602
Email: info@bookwithcastle.com
Financial clarity starts here.
Practical insights, real-world advice, and straight talk from the Castle team. Whether you're managing your own books or growing a business, we're here to help you stay organized, confident, and CRA-ready.
Common AR Mistakes Small Corporations Make (and How to Avoid Them)
October 24, 2025
Most AR mistakes come from using AR when you don’t need it, or skipping AR when you do. Duplicated revenue, unpaid invoices, and inaccurate year-end timing all stem from misunderstanding when to use “Receive Payment” versus “Bank Deposit.” AR should only be used when payments are delayed and need tracking; otherwise, revenue should be recorded directly. The cleaner the workflow, the more accurate your books.
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When to Use “Receive Payment” vs “Bank Deposit” in QuickBooks Online
October 23, 2025
Corporations in Canada can technically operate without an AR workflow, but doing so leads to unclear income timing, messy GST/HST calculation, and additional accountant cleanup at year-end. An AR process in QuickBooks Online ensures invoices are traceable, revenue is matched to when it was earned, and taxes are correctly attached to the right reporting period. For incorporated entities, AR is not just bookkeeping preference — it is the mechanism that keeps the financial statements accurate.
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How to Record Accounts Receivable at Year-End (Without Using Invoicing in QBO)
October 22, 2025
A corporation doesn’t need to use invoicing throughout the year to stay compliant with accrual accounting. If revenue is earned before year-end but payment arrives in the next fiscal year, a simple journal entry can create a temporary receivable without building a full AR system. This ensures revenue is recognized in the correct year while keeping day-to-day bookkeeping simple.
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Cash vs Accrual Accounting (Explained in Plain English)
October 21, 2025
Cash accounting records income when you receive payment, while accrual accounting records income when the work is completed. Corporations in Canada are expected to use accrual so revenue appears in the correct fiscal year, but this does not require a full AR workflow or invoicing system. A simple year-end adjustment can bring statements into accrual if needed. The purpose of accrual is timing accuracy, not administrative complexity.
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When Should a Small Corporation Start Using Accounts Receivable?
October 21, 2025
AR is not required for CRA compliance, but it becomes necessary once a business has multiple outstanding customer balances or delayed payment timing. Small, early-stage service corporations can stay compliant without using AR, but as volume grows or collections become harder to track manually, AR shifts from a convenience to a core financial tool. The need for AR begins when you can no longer instantly answer who owes you, how much, and since when.
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