FreshBooks and Wagepoint Announce Partnership Offering Seamless Payroll for Canadian Small Businesses
The purpose of Schedule M-1 is reconciliation of income (loss) per accounting books with income (loss) per return of the partnership. In other words, it means reconciliation of accounting income with taxable income, because not all accounting income is taxable. Debit to Cash increases the account, while debit to a capital account of a partner …