Running the Business
The back office: business banking, bookkeeping software, card and Interac payments, accountants and the records the CRA will accept.
11 guides in this section
Business Banking for Trades: Sole Prop vs Corporation
Does a self-employed Canadian tradesperson need a business bank account? Sole prop vs corporation rules, what you need to open one, and how to keep fees low.
Bookkeeping and Accounting Software for Canadian Trades
Realistic bookkeeping software for Canadian tradespeople: QuickBooks, Xero, Wave and Sage, GST/HST tracking, and when to hire a bookkeeper or accountant.
Taking Card and Interac Payments, and the Surcharge Rules
How Canadian tradespeople take card and Interac payments: processors, e-Transfer for Business limits, and the credit-card surcharge rules, including Quebec.
Invoicing and Getting Paid Faster
Invoice on-site, set clear terms, take deposits and use job-management apps to get paid faster. Plus the CRA invoice rules for Canadian tradespeople.
Record-Keeping for the CRA: The 6-Year Rule
What records a Canadian tradesperson must keep and for how long: the CRA 6-year rule, digital receipts, mileage logs and the records that back your claims.
Business Continuity and Cover: If You Cannot Work
What happens to your trade business if you are injured: power of attorney, EI Special Benefits for the self-employed, and disability and overhead cover.
Bookkeeping Basics for Trades: What to Track and Keep
Bookkeeping basics for Canadian tradespeople: what to track, cash versus accrual, keeping every receipt, the CRA 6-year rule, and monthly reconciliation.
Managing Cash Flow: Surviving the Feast and Famine
Manage cash flow in a trade business: the feast-famine cycle, holdback timing, the tax you collect is not yours, and how to build a simple cash buffer.
Separating Business and Personal Finances
Why and how Canadian tradespeople keep business and personal money apart: sole prop versus corporation, the simple setup, and paying yourself cleanly.
Choosing Accounting Software: What a Small Trade Needs
How a Canadian tradesperson should choose accounting software: the features that matter, the honest categories, and real cost versus headline price.
Managing the Feast-and-Famine Income
Surviving a short Canadian building season: build a winter reserve, pay yourself a steady salary, keep tax and GST/HST in separate pots, and smooth the work.