You'll need to update your business information to ensure compliance with FINTRAC regulations, Adminsupport.
If your business utilizes payment (Direct Deposits) and payroll services in QuickBooks Online, it's important to comply with regulations set by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). This compliance helps to detect, prevent, and deter money laundering and the financing of terrorist activities, while also ensuring the protection of personal information.
However, if your account has no money movements involved, you can disregard this error and flow with managing your tasks.
You can also contact our Live Expert team for further guidance and to investigate this case. Here's how:
- In your QuickBooks Online account, navigate to the Help icon.
- Select the Assistant tab to get help from the QB assistant.
- Then, enter your question and choose either to chat with us or have us call you.
Moreover, I've included this guide if you have further queries about FINTRAC: What you need to know about FINTRAC.
Managing compliance ensures your business maintains the financial accuracy of your account. For further assistance, leave a reply in the comments below. I'll be around to help.
