Resources
Audit-Ready Bookkeeping Checklist for Monthly Compliance
Download a CPA-grade bookkeeping checklist to keep client records accurate, reconciled, and audit-ready every month. Improve compliance and streamline GST/HST filings.
Bookkeeping shouldn’t slow down your practice. Use this CPA-grade checklist to eliminate surprises, streamline reviews and ensure your clients are always ready for GST/HST filings or CRA questions.
Â
- Source capture first: digital copy of every invoice, receipt and contract stored with a standardized file name and client reference. (Make backups & version history mandatory)Â
- Timely reconciliations: bank, credit card, merchant-account and loan statements reconciled monthly; clear or investigate suspense balances within the same month.
- GST/HST: confirm registration, filing frequency and validate ITCs (meals & entertainment limits, exempt supplies) before submitting returns.
- Payroll & remittances: cross-check payroll journal to T4/T4A and remittance reports; log employer liabilities and due dates.
- Month-end checklist: run AR ageing, write off doubtful receivables with supporting approvals, and prepare a short exceptions memo for the reviewing CPA.
Actionable insights for CPAs
- Start discovery in November: firms that begin onboarding in Q4 report faster closes and up to $250K potential margin impact.
- Outsource routine compliance and reclaim partner time, expect a shift from 25% to ~60% of firm time on advisory when optimised.
- Use the vendor evaluation checklist and readiness criteria to ensure secure, Canadian-expert outsourced accounting services that protect client data and deliver measurable KPIs.