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Monthly Bookkeeping Checklist

A clear, repeatable routine you can run every month in QuickBooks Online. Reconcile your accounts, track your sales tax, review your numbers, and close the month with confidence. Built for Canadian small businesses.

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Monthly bookkeeping checklist for a Canadian small business worked in QuickBooks Online

Close the month with confidence

Your monthly bookkeeping routine

Good books are a habit, not a scramble. When you run the same steps every month, nothing slips through the cracks, your sales tax stays set aside, and your reports actually mean something. Work the checklist below in order, in QuickBooks Online, and you will end each month with a clean, accurate picture of your business. Prefer to hand it off? Our bookkeeping services take the whole routine off your plate.

The checklist

Five steps to closed and clean books

Reconcile

Reconcile every bank account so the balance in QuickBooks Online matches your statement to the penny.
Reconcile every credit card the same way, including cards you rarely use.
Match downloaded bank feed transactions and clear anything sitting in the "For review" tab.
Investigate and resolve any difference, duplicate, or missing transaction before you move on.
Confirm your opening balances carried over correctly from last month.

Money in

Record and send this month's customer invoices so nothing goes unbilled.
Apply customer payments to the right invoices and clear any unapplied credits.
Review your accounts receivable aging and follow up on overdue accounts.
Record other deposits such as interest, refunds, and owner contributions to the correct accounts.
Categorize every deposit so income lands in the right place and nothing is left uncategorized.

Money out

Enter and schedule bills so you pay vendors on time and capture early payment terms.
Review your accounts payable and plan what needs to go out before month end.
Capture and match receipts to expenses using the QuickBooks Online receipt tool.
Categorize every expense to the correct account and split any mixed personal and business charges.
Clear the "For review" and uncategorized expense buckets so nothing is left unassigned.

Sales tax and payroll

Confirm HST and GST is coded correctly on sales and expenses, and set aside the tax you collected.
Review the sales tax centre in QuickBooks Online so your next filing period is on track.
Run payroll for the period and confirm every pay run posted to your books.
Set aside and remit your payroll source deductions on schedule.
Match payroll, tax, and remittance payments in the bank feed so nothing sits unreconciled.

Review

Run your profit and loss and compare it to last month and the same month last year.
Review your cash flow so you know what came in, what went out, and what is coming.
Scan the balance sheet for anything that looks off, such as negative balances or stray amounts.
Flag unusual swings, ask why, and fix any miscoded entries you find.
Save or export your month end reports so you can turn your numbers into decisions.

A note on deadlines and remittances. Sales tax and payroll remittance due dates depend on your filing frequency and the amounts involved, and they can change. Always confirm your specific dates on the Canada Revenue Agency website at canada.ca, or let us track them for you so you never miss one.

Rather not do this every month?

We will run this whole checklist for you in QuickBooks Online, every month, on time. Reconciled accounts, tracked sales tax, and clear reports, without you touching a spreadsheet. Fully virtual, for clients right across Canada.

Have us handle your books

Why hand it off

Books done right, month after month

Every account reconciled

We reconcile all your bank and credit card accounts each month so your numbers are accurate and audit ready.

Sales tax always set aside

We track the HST and GST you collect and keep your filing periods on schedule, so there are no surprises.

Reports you can act on

You get a clear profit and loss and cash flow view every month. Pair it with our financial reporting.

Fully virtual across Canada

Everything runs in QuickBooks Online with secure digital records, so we work with you anywhere in Canada.

Client reviews

Rated 5.0 by our clients on Google

    
 
 
         
   Robby Brown 
 
 
 
 Trustindex verifies that the original source of the review is Google. E-commerce can get complicated fast with fees and multiple payment platforms. Better Books Canada broke it down in a way that actually made sense. Reports arrive on time and highlight what needs attention. It’s been easier to focus on growth instead of trying to reconcile transactions late at night.
  
 
        
   Emily Tomlinson 
 
 
 
 Trustindex verifies that the original source of the review is Google. Books are current and organized. Makes day to day operations easier. Happy with the support!
  
 
        
   Ezekiel Luanda 
 
 
 
 Trustindex verifies that the original source of the review is Google. This firm is amazingly detail focused and client centric. I have been using them since the conception of my business and without their expertise and dedication to the numbers of it all I would not be able to flourish the way I am. Furthermore, Bashar is personable, patient, incredibly knowledgeable, timely, trustworthy, genuine and all around a total win to have on any team for financial services.
  
 
        
   Tatiana 
 
 
 
 Trustindex verifies that the original source of the review is Google. As a consultant working with federal clients in Ottawa, I needed someone who understood proper documentation and clean records. The team organized everything and set up consistent reporting so nothing slips through the cracks. It has saved hours every month. Things just feel under control now.
  
 
        
   wesley bailey 
 
 
 
 Trustindex verifies that the original source of the review is Google. Appreciate the consistency. Reports come in on time and make sense. That’s really all that was needed.
  
 
        
   Pierre Frederick 
 
 
 
 Trustindex verifies that the original source of the review is Google. Bashar is incredibly competent, knowledgeable and honest. He is not a bookkeeper that likes to meddle in grey areas. He has worked for the CRA and does everything he can to protect and inform his clients. He provides an incredible amount of value compared to the amount that he charges, and it’s truly been a pleasure working with him. I highly recommend Bashar if anyone is looking for bookkeeping services in Ottawa.
  
 
        
   Rehoboth Mubedi 
 
 
 
 Trustindex verifies that the original source of the review is Google. Professional and well-run business. Bashar was friendly, efficient, and knowledgeable, and the office was clean and easy to access. Everything was handled smoothly from start to finish. Highly recommend.
  
 
  
  
 
 
      Verified by Trustindex  Trustindex verified badge is the Universal Symbol of Trust. Only the greatest companies can get the verified badge who has a review score above 4.5, based on customer reviews over the past 12 months. Read more

Help center

Monthly bookkeeping FAQs

It depends on your transaction volume, but a small business with tidy records and a connected bank feed can usually work through the whole routine in a few focused hours. The more consistent you are month to month, the faster it goes, because there is less to clean up. If it is eating your evenings, that is a sign it may be time to hand it off.

This checklist is written for QuickBooks Online, which is the platform we use for every client. The bank feeds, receipt capture, and sales tax centre all live there, which is what makes a monthly routine like this quick and reliable. If you are on another system or moving over, we can help you get set up in QuickBooks Online.

Reconciling is what proves your books match reality. It catches duplicate charges, missing transactions, and bank errors while they are still easy to fix. Skip a month and small differences pile up until the numbers no longer add up. Monthly reconciliation keeps your reports trustworthy and your year end painless.

The sales tax you collect is not your money to spend, so set it aside as it comes in and keep it coded correctly in QuickBooks Online. Your filing frequency and due dates depend on your business, so confirm your specific dates on the Canada Revenue Agency website at canada.ca, or let us track and manage your filings for you.

Yes. This is exactly what our bookkeeping service covers. We run the full monthly routine in QuickBooks Online, reconcile your accounts, keep your sales tax on track, and deliver clear reports, so you can focus on running your business. Get in touch and we will take it off your plate.

No. We are fully virtual and work with businesses right across Canada using QuickBooks Online and secure digital records. We are based in the Ottawa region with four offices, but there is nothing to drop off and no need to meet in person.

Keep going

More free tools and guides

This is one of many free resources we share to help Canadian business owners keep clean books and make better decisions. Browse all our resources for more checklists, guides, and insights.

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Locations

Find us across the Ottawa region

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Ottawa, ON K1P 5G3

(613) 410-8202

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Ottawa, ON K2K 3E7

(613) 509-1309

Orleans

114 Chancery Crescent
Orleans, ON K4A 4N3

(613) 454-1399

Embrun

867 Notre-Dame St
Embrun, ON K0A 1W0

(613) 510-0230

Open Monday to Friday, 8AM to 8PM at every location.