Record-keeping checklist for BC small businesses
What to keep each month so your books, and your accountant, have what they need. Print it or save it.
Sales and money in
- Daily sales reports or point-of-sale summaries
- Invoices you send to customers
- Deposit records for cash and cheques
Spending and money out
- Receipts for everything you buy for the business
- Bills from suppliers
- Records of payments you make by e-transfer or cheque
Bank and credit cards
- Monthly statements for every business bank account and credit card, including ones you rarely use
Payroll
- Payroll reports from your payroll provider, if you have staff
GST and PST
- Receipts and invoices that show the GST and PST amounts
- Copies of the sales tax returns filed for your business
Loans, leases and vehicles
- Loan and lease statements
- A mileage log, if you use a personal vehicle for business
Habits that make it easy
- Keep business and personal spending in separate accounts
- Take a photo of each receipt the day you get it
- Keep one folder for each month, paper or digital
General information for BC small businesses, not tax advice. How long to keep records, and what counts, is set by the CRA: check the CRA's guidance on keeping records at canada.ca, or ask your accountant.
Want a hand keeping it all straight?
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