Draft for professional review before publication. General educational information only; not personalized tax, financial or legal advice.

Keep records consistent

Categorize transactions regularly and retain the supporting invoices and receipts. Separate personal and business transactions where appropriate.

Reconcile and review

Compare your bookkeeping records with bank and credit card statements. Resolve unexplained differences and review outstanding customer and supplier balances.

Build a monthly routine

Gather records, categorize transactions, reconcile accounts and review financial reports. Ask for help when your workflow becomes difficult to maintain.

For current official requirements, consult the Canada Revenue Agency or an appropriate adviser.

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