Accounting · GUIDE
Bookkeeping basics for small businesses
Reliable records make reporting and tax preparation easier.
Build a monthly routine
Record transactions consistently and reconcile bank and credit card accounts to their statements. Investigate differences instead of carrying unexplained balances forward.
Keep the evidence
Retain invoices, receipts and other supporting records in an organised system. Back up electronic files and preserve the trail between a transaction and its supporting document. Check CRA requirements before destroying records.
Official sources
Article reviewed September 13, 2026. Opens in a new tab.