Page 2 - CBS Client Handbook

Table of Contents

Click on the title below to jump directly to the topic of your choice

1. Glossary of Terms……………………….…. Pg 2

2. General Bookkeeping Best Practices……..Pg 2-4

3. Software and tools we use………………….Pg 4-5

4. Receipt Bank Best Practices and Tips…….Pg 4-15

5. Hubdoc - Reconnecting accounts…...…….Pg 15

General Bookkeeping Best Practices…

If you follow some simple guidelines, you will ensure to keep clean books, so that even if the CRA comes
knocking on your door, we will be able to handle your reviews quite quickly and ultimately audit-proof
your books. These tips will also help to keep your costs down, and your information flowing freely so that
we can provide you with up to date information so that you can make educated decisions for you and your
business.

1. Keep your business and personal transactions separate. ​ If you are purchasing both personal
and business items, it’s always best to cash them out separately. So your business receipt only
has your business purchases. It’s also best to keep any transfers to and from personal accounts to
a minimum. CRA gets cranky when you use your business funds to pay for personal expenses, as
well as this could put you into a negative tax situation. This also takes us longer to process, and
complicates our flows, and we don’t want to charge you more than necessary. Should this happen,
from time to time, please make a note on the receipt of the personal items.

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