Accounting Software for Canadian Businesses
Create an invoice — iBill posts the journal entry, updates your general ledger, and calculates your tax liability. Double-entry bookkeeping, financial statements, and CRA tax reports — all included.
What You Get — No Limits, No Trial,
Why Accessible Accounting Matters for Canadian Businesses
Small businesses and freelancers need proper books — but paying hundreds per month for accounting software cuts into tight margins.
CRA Requires Proper Records
Under ITA s.230, Canadian businesses must keep adequate books and records for at least 6 years. The CRA expects organized financial records during an audit — not shoebox receipts. iBill gives you the double-entry system they expect, at zero cost.
Save on Bookkeeper Fees
When your accounting software handles journal entries, tax calculations, and financial statements automatically, you spend less time with a bookkeeper. iBill auto-posts every transaction to the correct GL accounts, so your books stay current without manual data entry.
Professional Financial Statements
Banks, lenders, and the CRA all want to see balance sheets and income statements. iBill generates these directly from your general ledger — the same way a CPA would prepare them, but in real time and.
Complete Accounting Feature Overview
Every feature a Canadian small business needs — from invoicing to financial statements — all included
Double-Entry General Ledger
Every debit has an equal credit. Journal entries post automatically when you invoice, receive payments, or log expenses. Your books always balance.
Financial Statements
Balance sheet, income statement (P&L), trial balance, and cash flow statement — all generated from your GL in real time. Export to PDF or Excel.
CRA Tax Reports
GST/HST, PST, and QST collected and remitted — calculated from your GL liability accounts (2110, 2220, 2300). Cash-basis reporting for CRA filing periods.
Bank Reconciliation
Import bank statements, match transactions to journal entries, and reconcile your accounts. Auto-categorization rules save time on recurring transactions.
Trial Balance
Verify that total debits equal total credits across all GL accounts. The trial balance updates in real time and flags any imbalances immediately.
Cash Flow Statement
Track money in and money out across operating, investing, and financing activities. See exactly where your cash comes from and where it goes.
Full Double-Entry Accounting
GL, balance sheet, income statement, trial balance, cash flow, bank reconciliation, and CRA tax reports. Get started in minutes. No trial period.
Get Started FreeCRA Compliance Built Into Every Transaction
iBill implements the record-keeping requirements the CRA expects — automatically, behind the scenes
Append-Only Audit Trail
Every financial event is logged with a timestamp, user ID, and SHA-256 document hash. Records cannot be altered or deleted — they can only be corrected with new entries. This meets CRA ITA s.230 requirements for adequate books and records.
Numbered Journal Entries
Every journal entry receives a sequential entry number. Gap detection flags undocumented breaks in the sequence. The CRA expects consecutive, traceable entries during an audit — iBill enforces this at the database level.
Cash-Basis Tax Reporting
Revenue is recognized when payment is received, not when the invoice is issued. GST/HST/PST/QST liabilities post to the correct GL accounts at payment time. Your CRA filing reports match your general ledger.
Provincial Tax Accuracy
Canadian provinces and territories (excluding Quebec) are supported with the correct tax rates and rules. Ontario HST at 13%, BC PST at 7%, Quebec QST at 9.975% on subtotal only (not compound on GST), Alberta GST-only at 5%, and every other jurisdiction.
Invoice Correction Chain
Paid invoices cannot simply be edited. iBill follows CRA/ETA s.232 rules: void unpaid invoices, issue credit memos against paid invoices, then reissue. Every correction is linked to the original via a traceable chain.
7-Year Record Retention
The CRA requires businesses to keep financial records for at least 6 years after the tax year. iBill's append-only audit trail retains all records for 7 years, with immutability triggers preventing deletion at the database level.
How It Works
From sign-up to CRA-ready books in three steps
Create Your Account
Sign up in under a minute. iBill auto-seeds your chart of accounts with the standard Canadian GL structure (1000-series assets through 6000-series expenses). No setup wizard, no configuration needed.
Invoice and Get Paid
Create invoices with automatic GST/HST/PST/QST calculations for any province. When you record a payment, iBill posts the journal entry — debiting Bank (1200), crediting Revenue (4000) and tax liabilities (2110/2220/2300).
Run Your Reports
Your balance sheet, income statement, trial balance, and CRA tax reports generate automatically from the GL. Export to PDF or Excel for your accountant, your bank, or CRA filing. Everything balances because every entry is double-entry.
Accounting Software FAQs
Ready to run your books with iBill?
Create AccountAccounting Software — Built for Canada
Double-entry GL, financial statements, CRA tax reports, and audit trail.
Create AccountUnlimited Invoices • CRA Audit-Ready