Info for Clients

In order to do your bookkeeping quickly and accurately we need a little help from you, and the sooner we get it, the better. We will work with you and your accountant to make record keeping a breeze, and keep the CRA happy.


What do I bring?

A good rule of thumb is, if money was involved, your bookkeeper needs to know about it. All transactions that effect the value of your assets and liabilities also need to be included. If you aren’t sure, just throw a copy in anyways, it can always be returned or destroyed if it isn’t necessary.

The CRA requires all original transaction records to be maintained for up to 7 years, this includes digital as well as physical records, and they are looking for the original version. Mail or drop off all paper records and save all digital receipts in a shared Drive folder , or simply forward them straight from your inbox and we will do the rest. Once processed, your records will be compiled in a bankers box, including a back up of all digital records and complete reports from the accounting system, and delivered to your accountant for tax filing at the close of each fiscal year.


What else do you want to know?

It is also a good idea to inform us of any changes to the way you do business, such as: expansion of offering,  sales in other provinces or countries, new sales software or channels, hiring of contractors, acquisition or disposal of property, incorporation or addition of shareholders, investments and loans issued, or anything else that will effect the accounting treatment.

Being aware of upcoming changes can save time and ensure that the right information is captured before its a hassle to go back and find it.


Is this good enough?

Save on your monthly bill by bringing the right records. Every missing receipt slows down the process, so deliver complete records at the end of each period. Clients are served on a first-received-first-served basis.

Make sure it shows:

  • Name
  • date
  • item details
  • price
  • sales taxes and other charges
  • total
  • payment method and date.


We will keep you informed of transactions that you have not provided information for, and may even uncover transactions you didn’t know about. In the end it is every business owners responsibility to be able to back up their accounting with proper records, we can work together to make sure they are all there.


Post Entry Follow Ups

We know you wont have every record, that’s why we’re here, to find every penny! Check up on our shared gSheet to fill in the missing pieces. Find a complete list of transactions from your bank and credit card accounts that were missing a record, and a list of other questions and suggestions needed to achieve the highest quality record keeping.

Coming Soon: An updated list of upcoming Sales Tax, Payroll and other deadlines.



When it comes to money deposited in the bank account, it’s up to you to record every sale, every refund, every client credit and collect the correct sales tax, and how it was deposited to your business bank account, including any cash over or short. If you are not sure about whether or not you need to charge sales tax, just ask! We have in depth knowledge of GST and PST laws, and can deal with agencies such as the CRA and Ministry of Finance on your behalf, so you can get on with what you need to do.

The records needed really depend on the nature of your business.


Retail sales:

A good sales software is your best friend. QBO is not ideal for this, but can integrate with many that are. You are responsible with providing your customer with a receipt clearly showing the date, item, sales taxes charged and your GST number. You will also need to provide Glide with detailed sales reports, deposit details and cash reconciliations.


Accounts Receivable:

Most client do their own invoicing. Creating estimates, POs, invoices, receipts and statements for clients as needed directly in Quickbooks Online. If this is you please remember to keep your Accounts Receivable clean. Review account balances at least once a month and resolve any incorrect balances. If you need advice on how to best do this, we are happy to talk you through it.

Glide also provides A/R Services for some clients, in which we would take care of some or all of the above activities, for clients who bill on a regular basis. Talk to us if this is something that would make your life easier.

Deposit details are crucial for each payment method you accept including:

Bank Deposit slips showing invoice #s

Credit/Debit Merchant Statements

Daily Cash out reconciliations

PayPal or other electronic payment service statements

Details of non-sales deposits



This covers any time making money costs you, from materials and supplies, to donations of services, or the interest on your line of credit. It’s up to you to be able to defend it as an expense, should you be audited, and having your receipts in order will go a long way.

Shareholder/Owner transactions

Best practice is to make lump sum draws to separate business and personal spending. That said, it’s common for owners have to use their own funds to keep things afloat, and spend company money on their own needs from time to time, rather than transferring funds to their own accounts first. The only way the expenses can be attributed is by providing receipts.

When it comes to meals and entertainment, the thing to keep in mind is that the CRA has industry based thresholds, going over can red flag you for an audit.

Golf and personal fitness are not deductible, according to the CRA, no matter how many clients you land on the links. Lunch at the club is, as long as you save an itemized receipt. If you use credit or debit, make sure you don’t just save the POS chit, the full receipt shows GST and PST paid.

Travel costs for transportation, accomodation, meals, travel insurance, and other travel costs can be expensed for business, but not for the whole family. Always provide detailed travel receipts, so personal and business expenses can be identified.

Other expenses include:

Parking is always acceptable, but fines and speeding tickets wont save you on tax day.

Retail receipts from stores and restaurants

Supplier bills, payments, credits and statements

Subscriptions, software subscriptions are the most often missed receipts

Google, Facebook and other digital advertising receipts

Insurance Policy terms and payment schedules

Lease and Financing Agreements

Contributed Capital and other non-cash owner/shareholder contribution values and dates

Vehicle Expenses

Home Office expenses: Rent, mortgage interest, property taxes, utilities, repair and maintenance

Staff Allowances, benefits and expenses

Donation of inventory, services, or gift cards


Credit Card and Line Statements

Loan statements

Owner/Shareholder Draw details

Employee Expense reimbursements

Petty Cash reconciliations

Gift Cards Issued and Redeemed


Bank Statements and cheque stubs

Accounts Receivable

Investment Statements


TD1 forms

Direct Deposit forms

Employment Contract details

Timesheets showing hours and days worked

Termination details

Contractor invoices showing names, addresses, and business or social insurance #s

Benefit statements

Advances and repayment