In many cases a clear photo or scan is accepted in place of the paper. But a photo is a picture, and a record is a picture you can find, read and produce six years from now. A blurry photo may not be ...

Sometimes, yes. Lost receipts happen to careful people, and a missing one isn't automatically a tax problem. It does put the job of proving the expense on you, and the GST/HST credit is usually harder...

CRA's rule is six years, but the six years don't start when you buy something or when you file your return. They start at the end of the tax year the record belongs to. That's where most people miscou...

If you do freelance bookkeeping in Canada, your clients probably assume you know every CRA rule. The CRA is the Canada Revenue Agency, the federal body that collects tax and sets the reporting rules. ...

If you've ever typed a bookkeeping question into a search bar at 9 p.m. and found five articles that disagree with each other, one written for the US, and none that tell you which button to click in...

A remittance payment to the CRA looks like just another payment leaving the bank account, but recording it the wrong way can quietly throw off a liability account without anything looking obviously...

A project that stretches across several months creates a real bookkeeping problem: the invoice hasn't gone out yet, but real costs and real earned value are already sitting there. Work-in-progress ...

A holdback shows up on nearly every construction invoice in Canada, and it trips up a lot of bookkeeping because it isn't a discount, a bad debt, or a simple timing gap. It's a specific legal requi...

Written by a Canadian bookkeeper with about 30 years of business and accounting experience and QBO Advanced Certification.

Monthly is a strong default for most small businesses, but the right cadenc...

Written by a Canadian bookkeeper with about 30 years of business and accounting experience and QBO Advanced Certification.

If your books are behind — three months, a year, longer — this is exactly h...

Written by a Canadian bookkeeper with about 30 years of business and accounting experience and QBO Advanced Certification.

These two documents get used loosely and sometimes interchangeably in every...

Written by a Canadian bookkeeper with about 30 years of business and accounting experience and QBO Advanced Certification.

Walking into year-end with clean, organized books changes what an accountan...