Guides for Canadian small businesses

Invoicing

What goes on an invoice, and how to keep invoices in order.

• Canadian small business invoicing guideThe whole process, from your first invoice to keeping records.
• How to write an invoice in CanadaStep by step, with a sample invoice.
• What to include on an invoiceThe checklist, and what's required at each amount.
• CRA invoice requirementsThe details your business clients need to claim input tax credits.
• Invoice numbering best practicesFormats, voided invoices, and starting your own series.
• Invoice vs receiptWhen to send each, and what each one proves.

Sales tax

GST, HST, PST, RST and QST: when to charge, how much, and how to file.

• When to charge GST/HSTThe $30,000 small supplier test, and which rate applies.
• How to register for GST/HSTWhen you must, how to apply, and what changes after.
• How to calculate GST on an invoiceFormulas and worked examples for every province.
• GST/HST return guideFiling periods, the lines on the return, and deadlines.
• GST/HST guide for freelancersRegistration, rates, input tax credits and filing.

Getting paid

Terms, reminders, and what to do when a client doesn't pay.

• Invoice payment terms explainedNet 30, Net 15, due on receipt, and early-payment discounts.
• How to handle late paymentsReminders, interest, small claims court and bad debts.
• How to set freelance ratesWork out an hourly rate that covers taxes and costs.

Accounting and year-end

Records, expenses and the reports your accountant asks for.

• Year-end tax preparation for freelancersDeadlines, records and deductions.
• Record keeping for Canadian taxesWhat to keep, and for how long.
• Business expense categoriesHow expenses are grouped for your tax return.
• Cash basis vs accrual accountingHow each report in iBill treats timing.
• Chart of accountsThe accounts a small business books use.
• Capital cost allowance (CCA)Claiming depreciation on equipment and vehicles.
• Tax compliance for small businessesThe main federal obligations in one place.

These guides are general information, not tax or legal advice. Confirm your situation with an accountant or the CRA. Looking for quick answers about iBill itself? See the FAQ. For tax calculators, see all calculators.