Our Top Bookkeeping Questions Answered
& HOW WE KEEP YOU ON TRACK!
Bookkeeping doesn’t have to feel overwhelming. We believe when you understand your numbers, you can lead your business with more confidence, clarity, and control. That’s why we’re answering the most common questions business owners ask us — and showing you how we help take the guesswork out of managing your books.
1. What financial records do I really need to keep?
Answer: You should keep all documentation that supports your income and expenses — this includes receipts, invoices, bank statements, contracts, and mileage logs. CRA requires you to retain these records for at least 6 years. How we help: We guide clients on what’s necessary to keep and how to organize it. Whether it’s setting up digital storage or syncing receipts with bookkeeping software, we make it easy to stay compliant.
2. How do I know if my books are accurate?
Answer: Accuracy in bookkeeping means your numbers reflect reality — no missing transactions, no duplicate entries, and reconciled bank statements. How we help: We reconcile your accounts regularly and review your books for accuracy and consistency. If something doesn’t look right, we flag it and fix it — before it becomes a problem. We maintain a close, collaborative relationship with CPAs throughout the year, which fosters greater trust and ensures financial records are consistently accurate. This proactive approach not only streamlines the year-end process but also significantly reduces the need for last-minute adjustments, giving both clients and their accounting teams greater peace of mind.
3. What are my responsibilities with GST/HST?
Answer: Depending on your business structure and revenue, you may be required to register for, collect, and remit GST/HST. Filing frequencies can be monthly, quarterly, or annually. How we help: We manage the entire GST/HST process — from tracking what you owe, to preparing and filing returns on time. No more scrambling to meet CRA deadlines.
4. How can good bookkeeping actually help my business grow? Answer: Great bookkeeping isn’t just about staying organized — it gives you the data to make better business decisions. When your numbers are clear, you can confidently invest, hire, or plan your next move. How we help: We provide clean, easy-to-read financial reports so you always know where your business stands — and where it's going.
5. What expenses can I deduct, and how do I keep track of them?
Answer: Common deductible expenses include office supplies, software subscriptions, vehicle use, home office expenses, meals and entertainment. To claim all expenses you need accurate records and receipts. How we help: We categorize your expenses properly, advise you on what’s deductible, and make sure you don’t miss out on legitimate write-offs that reduce your tax bill.
6. What if I’ve made a mistake in my books? Answer:
Mistakes happen — what matters is catching them early and correcting them properly.
How we help:
We review your books with a trained eye, catch errors you may not have noticed, and correct them before they snowball into bigger issues. No judgment, just support.
How We Keep You on Track, Month After Month:
We partner with Canadian business owners to provide ongoing bookkeeping that’s accurate, reliable, and stress-free. Whether you’re just starting out or scaling up, we tailor our services to fit your goals — so you can focus on your business, not your books.
Ready for clarity, confidence, and CRA-compliant books?
Let’s chat. Book your free discovery call today, and find out how bookkeeping support can simplify your life and strengthen your business.