Guides
Bookkeeping guides for small business owners
Plain-English answers to the questions small business owners ask about their books, with the CRA source linked for every rule.
Bookkeeper vs Accountant: Who Does What, and Which One You Need
A bookkeeper keeps your records accurate all year. An accountant uses those records for tax returns, planning and advice. Here is how to tell which one you need, and when you need both.
Read the guideHow Long to Keep Business Records in Canada, and What the CRA Expects
The CRA's six-year rule, the exceptions that make it longer, when a scanned receipt can replace the paper, and what an invoice needs to show before you can claim the GST/HST on it.
Read the guideHow Much Does a Bookkeeper Cost in Canada?
What you pay a bookkeeper depends less on who you hire and more on how they charge and what your books look like. Here are the pricing models, the factors that move the price, and real package prices as a worked example.
Read the guideHow to Catch Up on Bookkeeping When You're Months Behind
Months behind on your books? Here is the order that works: gather every statement, reconcile the oldest month first, sort out any missed GST/HST returns, then set up a routine so it does not happen again.
Read the guideQuickBooks Online vs Xero: Which Fits a Small Canadian Business?
A fair side-by-side of QuickBooks Online and Xero for Canadian small businesses, covering the jobs you actually do every month, and how to decide between them.
Read the guideWhen Do I Need to Register for GST? Registration and Filing Explained
Most businesses must register for GST/HST once their taxable revenue passes $30,000 in a single quarter or over four quarters in a row. Here is how the test works, what BC businesses charge, and when returns are due.
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