Picking and using the right worksheets for each file
Ledger offers 11 worksheets that you activate à la carte, per file. Some have deep calculations (capital assets, long-term debt, income taxes, sales taxes), others are so simple there is nothing to explain. This page tells you how to activate one, when to use which, and which ones deserve a dedicated tutorial.
Activate a worksheet
Worksheets are opt-in. None are on by default, to keep the sidebar light. You decide when opening the file which are relevant, and can add more later.
- Open the engagement for the year.
- In the left menu, under WORKSHEETS, click Worksheets.
- Check the ones you need. A Smart suggestions section at the top proposes those that the client's TB makes likely (e.g. if there are capital asset accounts on the balance sheet, Capital assets is suggested).
- Checked worksheets show up immediately in the sidebar under WORKSHEETS. The others stay on this page, out of the way.
If you uncheck a worksheet that was filled in, Ledger keeps the data. Just re-enable it later to find everything as it was.
Worksheets with a dedicated tutorial
Acquisitions, disposals, accounting amortization and tax CCA. Per-client account configuration.
Loan schedules, interest payable, merchant cash advances (MCA/Vault) with early payoff.
Remittance calculation for eligible clients under the Quick Method, with automatic year-end entry.
Reconcile GST/HST/QST book balances vs filed returns, generate the adjusting entry.
Federal and provincial provision, instalments, refundable portion, entries. « Owed = positive » convention.
Slips (T3/RL-16, T5/RL-3, T5008) box by box, summary by income type, carry to T2 schedules 3, 6, 7, 21.
Taxable employee/shareholder benefit when the employer provides a vehicle (standby charge + operating cost).
Pro-rata of business-use-of-home expenses, federal and Québec, with the 18(12) cap and carry-forward.
Worksheets without a dedicated tutorial
These are simple enough to use directly from the field labels on the worksheet configuration page.
Pro-rata allocation over the year. You enter the total amount and the coverage period, the worksheet computes the expensed portion.
Year-end accrued liability entries, with an automatic adjusting entry.
Excel-like free sheets : cells, formulas, totals, .xlsx export. No structure imposed, build your own.
Which worksheet for which need
- Non-zero capital assets on the balance sheet : enable Capital assets. Ledger suggests it automatically when the TB shows a balance.
- A term loan or line of credit : enable Long-term debt. For a merchant cash advance (Vault, Clearco), use the same worksheet with the MCA modelling.
- Client is on the Quick Method : enable GST-QST (Quick Method). Otherwise use Sales tax reconciliation to reconcile books vs filed returns.
- Year-end with income tax to provision : enable Income taxes. Auto-suggested when there's a balance or tax activity.
- Corporation holds investments : enable Investment income reconciliation for slips capture and T2 schedule carry.
- A shareholder/employee uses a company vehicle : enable Automobile benefit. Not TB-detectable, activate manually.
- Consultant/self-employed using home for business : enable Home office.
In 80 % of cases, letting Ledger propose which worksheets to enable when you open the file is enough. The list above helps you understand why one is suggested, or activate ones that can't be inferred from a TB (auto benefit, home office).
Printing a worksheet
Each worksheet has a Print button at the top. The PDF is complete : detail rows, intermediate calculations, generated entries. That is what your reviewer or partner examines. No configuration needed : the layout picks up your firm's brand (logo, font, accent color).