Bookkeeping for Prince George businesses

Monthly bookkeeping for Prince George businesses starts from $300 a month, with the GST and PST returns filed in the same package. The books feed everything that follows: the T2 or the T2125, the GST34 return and its input tax credits, the CCA schedule, and the T4 slips at year-end. See the published fees.

One ledger, many trucks and jobs

An owner in the Hart with three trucks does not have one business. There are three units that each earn and burn money differently. A contractor in College Heights running four jobs at once has the same problem. A single revenue line and a single repairs line will not tell you which unit or job is paying for the others.

We set up classes or tracking categories by truck, machine or job, and code fuel, parts, tires and labour to them as they come in. At month-end you see a margin per unit, not just a bank balance. That is the number you need when a customer asks for a rate, or when a tired tractor needs replacing.

Fuel, parts and the PST that stays a cost

GST paid on fuel, parts and shop supplies is recovered through input tax credits once you are registered. PST paid on parts and equipment generally is not. It belongs in the cost of the item, not in a sales tax receivable. Mixing the two makes both returns unreliable.

Parts counter invoices often show both taxes on one line, and fuel card statements bundle dozens of fill-ups. We split them properly at entry, so the GST claim is supported and PST is costed. Input tax credits explained covers what can be claimed and what the CRA expects to see.

Receivables from customers who pay on their own clock

Many Prince George businesses sell to large customers in forestry, mining and construction. Those customers often pay on long terms, hold back part of a progress billing, or require invoices through their own system. The work is done in January and the money arrives in March.

The ledger has to show that gap. We keep an aged receivables list, record holdbacks as their own receivable, and reconcile customer statements monthly. GST is owed on the invoice date, not the payment date, so a large unpaid invoice still lands on your return. Holdback accounting covers the construction side.

Camp, travel and meals away from home

Northern work means time away. Crews drive to Mackenzie or Vanderhoof, stay at camps, and eat on the road. Each of those costs has its own rule. Travel to a temporary work site is usually deductible. Meals are generally limited to half, with exceptions for long-haul drivers. Allowances paid to employees can be taxable or not, depending on how they are set.

The bookkeeping job is to code these consistently and keep the trip details that support them. A short note on where and why turns a pile of receipts into a defensible claim. Travel expenses and the CRA sets out the rules.

Equipment loans and the asset register

Heavy equipment is usually financed, and a loan payment is not an expense. Each payment splits into interest, which is deductible, and principal, which reduces the loan. Booking the whole payment as an expense overstates costs and leaves the loan balance wrong on the balance sheet.

The purchase itself goes on an asset register by CCA class, with the date it was put to use. When a unit is traded in, the proceeds come off the class. Keeping that register current through the year means the year-end CCA schedule is a check rather than a reconstruction. It also means a lender asking for statements gets figures that match the loan documents. Equipment CCA classes lists where common machines land.

Slow months and the GST return

A Prince George year rarely runs flat. Logging runs while the ground is frozen, building runs in summer, and spring breakup parks trucks. A quarterly GST return that covers a busy winter can come due after revenue has dropped.

Your filing period is set by revenue: annual at $1.5 million or less, quarterly up to $6 million, monthly above. Annual filers may choose a shorter period. We look at which period suits your cash and set aside the GST each month so the payment is never a surprise. GST filing deadlines lists the dates.

Payroll entries and WorkSafeBC

Once there are employees, payroll needs to post cleanly to the ledger. Gross wages, CPP and EI premiums, income tax withheld and vacation pay accrued each go to their own account. The remittance is then reconciled against what the CRA shows. WorkSafeBC premiums are reported on assessable payroll and should match the wage accounts. If payroll is part of the engagement, payroll in Prince George explains how it runs.

Catching up after a season that got away

A busy winter can leave six months of statements unopened. That is common, and fixable. Catch-up work starts with bank and card reconciliations, then the GST and PST returns that are due, then the year-end. We quote it as a fixed fee before starting. Catch-up bookkeeping shows how the work is ordered.

Remote bookkeeping from Abbotsford

EverStone is a one-CPA firm based in Abbotsford, serving Prince George remotely. There is no Prince George office and no local staff. Bank, card and fuel feeds arrive electronically. Receipts and statements come in through a secure upload link, which works from a phone at a job site. Questions go by email, with a video call when it helps. The CPA who reconciles your accounts is the one who prepares the corporate return, so every figure is settled once.

Keeping the books accurately and knowing what they mean are different jobs. It is worth being deliberate about which level of finance support you actually need.