Cloud Accounting Expert

What information do I need to get started?

What information do I need to get started?

This list is a starting point, your specific situation may differ.

Business bank and credit card statements.
  • Many banks and credit companies provide this information online and can go back as far as seven years
  • Copies of cheques (often these are on your bank statements)
  • Listing of e-transfers sent and received
Documents that support your business transactions
  • Invoices that you have sent out to clients
  • Documentation for purchases you have made. Receipts, bills from vendors.
  • Loans that you have in the business name
  • Agreements that you have made that result in a financial obligation.
  • Lease, rental agreements etc.

Business Registration and incorporation documents.

Most recently filed Annual return (this is not your tax return)
Incorporation documents

  • List of shareholders and directors
  • business articles
  • Share structure and ownership
  • shareholder agreements.
Business registration and incorporation documents will be available from your lawyer.  If you self-incorporated you likely do not have all of these documents.
Previously filed tax and information returns
  • If incorporated your last filed Corporate tax return (T2)
  • If self-employed your last filed personal tax return with the T2125
  • Statement of Business activities.
  • Copies of GST/HST/PST returns filed
  • Copies of T4 Summary and T4s filed if you have payroll
  • Copies of any T5018 (contractor payments) filed
  • Copies of any T5 Summary and T5s filed for shareholder (if incorporated)
  • Copies of any correspondence received from the Canada Revenue Agency
  • Copies of any correspondence received from your province (if you are
  • subject to PST).

Note that some of this information may be available online at CRA or your Province.

It may take a while to collect all of this information, but the best place to start is to connect with a professional who can provide more guidance on what information is required for your situation and what to do if some information is missing.