If you are still managing your business payments manually by handwriting cheques or setting up
As the end of the calendar year approaches, we want to remind you about some of the crucial bookkeeping and accounting tasks you should be planning to complete. Even if your accounting year end is not December 31, consider taking a few moments to review these tips for ensuring financial compliance, accurate records, and a smooth transition into the new year.
As a business or registered charity or non-profit in Canada you are required to keep accurate books and records to file tax returns with provincial and/or federal agencies on a regular basis. And if you are on our website and reading this blog, you probably already know that one of the best ways to stay on track with your organization’s finances and government filings is to get professional help. When working with a bookkeeper you may find yourself asking, “Why are they SO nitpicky about receipts?” So let me share with you, as someone who was trained in the Audit Division of the Canada Revenue Agency (CRA) and has worked as a professional bookkeeper for over 10 years, why receipts are so important.