Good day,

I am using Simply Accounting for my book keeping needs. Last year I have done my closing entries automatically using this software. However, while filing my taxes using QuickTax, I have claimed a small amount of Capital Cost Allowance on my Statement of Business activities. Since this was done after the closing entries were done, this additional expense was never recorded in my books and that amount is causing discrepancy between the Income statement printed by Simply Acc and the one I've submitted in my tax papers:eek: . The amount is small, but that is NOT the point. As tax time is approaching:( , I would like to know the following:

1) what can I do to set my books right, if anything
2) I have not done my closing entries yet, as I do not want to repeat the same mistake. I'm not sure how QuickTax has calculated the amounts for CCA, so I would have to wait to do the tax this year in order to have the exact amount and do an entry in the books before closing. There must be a better way! Would the CCA amount be the same for this year, as it was for the last?

Thanks in advance for you time!!!