The Monthly Envelope System

Under this service system, you would simply send us an envelope with COPIES of the applicable business information on a monthly basis, by mail or courier.  

However, if you prefer to send us originals, there will be an additional charge for document management, in-house scanning to retain an electronic copies and the cost of returning the documents after processing. 

We would prefer that you send us copies, which allows you to always have the originals, yet knowing that we have copies.  This way if the unthinkable happens, you will know that there is a backup copy of your original documents available at Trucktax. 

For your convenience, we will provide a set of pre-addressed labels for you to use, addressed to our office in Markham, Ontario, to make it easy for you to send us your business information for processing each month or quarter, without having to prepare an address label or write the address on your envelope.

In these monthly envelopes, you would send us the required and applicable business information as indicated below.

To be specific you would send us:

·         Income information

Broker Settlement Statement,

Or Copy of Invoices, if you bill your client directly

·         All applicable Truck Operating Expenses, including:

• Fuel Receipts or Fuel Purchase report

• Truck Repairs and Parts purchased receipts/invoices

• Truck Insurance -

• All other business related expense receipt

• Support Transportation expense receipts if applicable

• Home office expense receipts

• Entertainment receipts

• Bank Statements - Do not send the Cheques. Instead, please make notations to identify expenses on your bank statement where required of direct debit expenses, where no other receipt of invoice will be provided for processing.

·         Copy of Truck Purchase or Lease agreement/Contract

In addition, always including a copy of your GST/HST return form (page-1) received from CRA.

If applicable, also send us copies of any notices of assessment and/or requests for information from CRA.

NOTE-1:

If you operate into the United States, you must separate expenses into two categories. U.S. funds and Canadian funds to allow us to easily identify these and be able to accurately claim the U.S. operating expenses in Canadian funds and make available, if required, a U.S. funds operating statement.

NOTE-2:

Clients using our Envelope system to send  us the business information each month, can elect to using our customized forms system for some or all of the business information being submitted.

Under the customized forms system, we will supply a set of business information capture forms, that clients simply fill-in the expense amounts from their expense invoices and receipts. (No totaling required) and place these forms in an envelope along with all other applicable information as indicated above.

However, here is a cost saving ALTERNATIVE.

If you are making copies using your own all-in-one printer that can Copy and Scan documents, then you could save on postage by simply scanning the documents and uploading them direct to our office and reduce your bookkeeping fees at the same time.

You save on paper as well as postage.

To switch to the Scan-and-Upload Documents delivery system, call us to request that we setup your business on the Scan-Upload system and create and send you your upload access user-name and password and schedule a Saturday or Sunday morning telephone meeting for us to walk-you-through how to upload your documents.

As a scan and upload client, you could save up to $600.00 per year off the paper-based envelope system fee.

As we process your business information each month, we will be sending you a set of financial reports each quarter, by email, designed to help bring more meaning to the business and the bottom-line.

To review the menu of reports click the deliverables link:    ► DELIVERABLES