Organize Your Records – Part 2

Good bookkeeping records means having a good filing system. Without one you don’t have the other.

Keep your bookkeeping up-to-date. On the sales side if you don’t provide an invoice or sales receipt you don’t get paid. Purchases should be done monthly or quarterly to match your GST reporting period. Don’t leave it annually just because that is your GST reporting period. Excellent reasons for keeping your bookkeeping up-to-date in my article Bookkeeping…Why Bother.

When paying a bill – record the date and payment method. Cheque # if it’s paid by cheque or the credit card on which it was paid. If it’s a partial payment -the amount and date of each payment. Now the information is right at hand for entering into your books. It’s a simple thing but that information can be handy to have 6 or 12 months down the road.

Always get a receipt- Cash purchases are difficult to claim otherwise, and yes Tim Hortons will give you a receipt if you ask.

If the receipts are so faded or crumpled which makes then unreadable – guess what – they don’t get entered into the books.

Credit card statements are not always proof enough. An item purchased at Wal-Mart could be anything and the fact that you bought it with your business card does not prove a business deduction.

Make detailed deposit slips and keep a copy. Last I checked the banks were still giving out free deposit books. Or buy a simple notebook. Keeping detailed records of each deposit helps us match the customer payment to the deposit on the bank statement.



Use a calendar to remind you of due dates if you’re tracking any of the following taxes – PST, GST, Payroll, WCB, quarterly income. Making payments on time will keep you out of the tax arrears hole with Canada Revenue Agency. See more about this in my article How Did I Fall So Deep Into Tax Arrears?

Smart Business People know that time is money, by planning ahead. Organized records will make life much easier for your bookkeeper whether that person is yourself or someone you’re paying. In the event you have dealings with Revenue Canada the business person with organized records will have a much easier time than the person who is not. Under section 230 of the Income Tax Act, any person who carries on a business in Canada and anyone who is required to pay or collect taxes, must keep books and records at their place of business or residence, in Canada, in such a format or order to enable the assessment and payment of taxes. Most people in business are aware that there is a proper way to keep books. For those who are not aware it is important to realize that Revenue Canada has the power to require you to keep proper books.

Organize That Shoebox – Part 1

Good bookkeeping records means having a good filing system. Without one you don’t have the other.


Set-up a filing system that you can follow and use it. This is probably the first most important step to keeping good records. Simple file systems are easy to set up and maintain.

Read the rest of this entry »

Canadian Bookkeepers Association

Canadian Bookkeepers Association

The Canadian Bookkeepers Association (CBA) is a national, not-for-profit organization committed to the advancement of professional bookkeepers. Membership in the CBA provides bookkeepers with the resources to succeed in an ever changing environment. Our association creates excellence through knowledge and is growing rapidly, representing a comprehensive financial management approach to business for any size company. Our Membership is growing rapidly each day and represents bookkeepers in the majority of Canada’s provinces and territories.

Our MISSION includes:

  • To Promote, Support, Provide for and Encourage Canadian Bookkeepers.
  • To promote and increase the awareness of Bookkeeping in Canada as a professional discipline.
  • To support national, regional and local networking among Canadian Bookkeepers.
  • To provide information on leading-edge procedures, education and technologies that enhance the industry, as well as, the Canadian bookkeeping professional.
  • To support and encourage responsible and accurate bookkeeping practices throughout Canada.

Future Goals

We are committed to growth that benefits our members and Bookkeeping in Canada as a professional discipline. Our goals include advances in Distance Education, Certification of Bookkeepers, and Regional Chapters. We appreciate suggestions that improve this website and the Association. We are listening and appreciate your input!

We are working towards designation of bookkeepers in Canada. The designation will be “Certified Professional Bookkeeper™”


The Canadian Bookkeepers Association was formally known as the Canadian Bookkeepers Alliance. CBA began accepting members in early 2003.

February 9, 2004 the Canadian Bookkeepers Association was incorporated as a not-for-profit association. Membership growth has far exceeded what was originally anticipated. We are thrilled with growth of the Association.

We have grown with each milestone into the National not-for-profit organization we are today with members in almost every province and territory.