Invoice Payment GL Tax Report — All Automatic

Send an invoice to your client. When they pay, iBill records the payment, posts the journal entry to your general ledger, updates your balance sheet and income statement, and calculates your GST/HST owing. No manual bookkeeping. No second tool.

All-in-One

Invoicing & Accounting Software — One Tool, Zero Data Entry

Stop copying invoice data into a separate accounting tool. iBill connects invoicing and bookkeeping in one platform built for Canadian businesses.

Get Started Now

Why One Tool Beats Two

When invoicing and accounting live in the same system, your books stay accurate without any extra work

No Data Re-Entry

With separate tools, you create an invoice in one app and then manually enter the same transaction in your accounting software. With iBill, every invoice and payment automatically creates the corresponding journal entry in your general ledger. You enter the data once.

No Reconciliation Errors

When you copy data between two systems, numbers drift apart. Invoices say one thing, your books say another. iBill eliminates this entirely because the invoice data and the accounting data are the same data — one source of truth.

No CSV Exports or Imports

Forget about exporting invoices from one tool and importing them into another. iBill handles the full cycle: create the invoice, record the payment, post to the GL, and generate the financial statements — all in one place.

Real-Time Financial Picture

Your balance sheet, income statement, and tax reports update the moment a payment is recorded. You do not have to wait for month-end closes or batch imports to see where your business stands financially.

Invoicing Features

Everything you need to create, send, and get paid on professional invoices

Professional Invoices

Create branded invoices with your logo, business details, and CRA-required fields. Add line items, set payment terms, and send directly to your clients. Learn more

Automatic Tax Calculations

Select the province and iBill calculates GST, HST, PST, or QST automatically. Canadian provinces and territories (excluding Quebec) supported with current rates. Tax amounts flow directly into your GL tax liability accounts.

Payment Tracking

Record payments against invoices with one click. Track paid, unpaid, and overdue invoices. When you mark an invoice as paid, the payment posts to your ledger and general ledger automatically.

Quotes, Time Tracking & More

Invoicing + Accounting in One Tool

Send invoices and your books update automatically. No spreadsheets, no manual journal entries, no second subscription.

Get Started Now

Trusted by Canadian Businesses — 1,200+ signups

Accounting Features

Full double-entry accounting that builds itself from your invoices and payments

Double-Entry General Ledger

Every payment creates a proper journal entry: debit Bank, credit Revenue, credit Tax Liabilities. Your GL is always balanced. Learn more

Financial Statements

Balance sheet, income statement, trial balance, and cash flow statement — all generated from your GL in real time. Export to PDF or Excel. See reports

CRA Tax Reports

GST/HST return worksheets, tax liability summaries, and filing period reports. All based on your actual payments — cash-basis, exactly how the CRA expects it. View tax tools

Accounts Receivable & Payable

AR aging reports show who owes you and how overdue they are. Vendor bill management tracks what you owe suppliers. AR aging| Vendor bills

The Automatic Workflow

From invoice to tax report — every step happens automatically when you record a payment

Create Invoice

Add line items, select province, and iBill calculates GST/HST/PST/QST. Send to your client.

Record Payment

Mark the invoice as paid. iBill creates a payment record and sets the paid date for cash-basis reporting.

GL Entry Posted

A journal entry is created automatically: DR Bank (1200), CR Revenue (4000), CR Tax Liabilities (2110/2220/2300).

Reports Updated

Your balance sheet, income statement, and CRA tax reports reflect the payment instantly. No month-end close needed.

CRA Compliance Built In

Every invoice and journal entry meets CRA requirements under ITA s.230 and ETA s.232

Audit Trail

Every transaction is logged in an append-only audit trail with SHA-256 document hashing. Journal entries are numbered, dated, and traceable. The CRA requires 7 years of records — iBill keeps them all.

Cash-Basis Accounting

iBill uses accrual accounting for revenue display. Revenue is recognized when invoiced; sales tax timing follows the Excise Tax Act s.168 rule. Your tax preparer determines which basis applies to your filing.

Proper Tax Tracking

GST/HST collected posts to GL 2110, PST to GL 2220, QST to GL 2300. Each tax component is tracked separately so your CRA returns show exactly what you collected and what you owe, by period.

Invoice Requirements

iBill invoices include all CRA-required fields: your business name and address, GST/HST registration number, invoice date, itemized amounts, and tax breakdown. Ready for any audit.

Invoicing & Accounting FAQs

Why should I use one tool for both invoicing and accounting?

When invoicing and accounting live in the same system, every payment automatically posts to your general ledger, updates your balance sheet, and feeds your tax reports. There is no manual data entry, no CSV exports between tools, and no reconciliation errors. You send an invoice, the client pays, and your books are already up to date.

How does iBill connect invoicing to accounting automatically?

iBill uses accrual accounting for revenue display with double-entry bookkeeping. When you record a payment on an invoice, iBill automatically creates a journal entry: debit Bank (GL 1200), credit Revenue (GL 4000), and credit the appropriate tax liability accounts (GL 2110 for GST/HST, GL 2220 for PST, GL 2300 for QST). Your balance sheet, income statement, and tax reports update in real time.

Does iBill work for both invoicing and accounting?

Yes. iBill includes no paid tiers, no feature gates, and Get started in minutes. You get unlimited invoices, full double-entry accounting, financial statements (balance sheet, income statement, trial balance, cash flow statement), CRA tax reports, and a complete audit trail —

Does iBill handle GST/HST and provincial taxes automatically?

Yes. iBill calculates GST, HST, PST, and QST automatically based on the province you select on each invoice. When you record a payment, the tax amounts are posted to the correct liability accounts in your general ledger. Your CRA tax reports show exactly how much you have collected and owe for each filing period.

Can I generate financial statements from my invoice data?

Yes. Because your invoices and payments flow directly into the general ledger, iBill generates a full set of financial statements: balance sheet, income statement (profit and loss), trial balance, and cash flow statement. All reports are generated from your GL journal entries in real time — no month-end close required.

Ready to combine invoicing and accounting in one tool?

Create Account

Invoicing + Accounting — One Tool

Trusted by Canadian businesses using iBill to send invoices and keep their books in one place.