If your bookkeeping feels like a monthly scramble—missing receipts, unclear balances, and “I’ll fix it at year-end”—you’re not alone. Fortunately, virtual bookkeeping can turn messy books into a reliable system you can actually use. With cloud-based tools, you can access your numbers anytime and stay on top of cash flow. At CHC Strategic, we help business owners keep their books accurate, CRA-ready, and decision-friendly.
What virtual bookkeeping is (and what it isn’t)
In simple terms, virtual bookkeeping means your day-to-day financial tracking happens in secure, cloud-based systems. As a result, your bookkeeper and accountant can work with the same data in real time. Instead of relying on spreadsheets and paper folders, you get a consistent monthly process that keeps your books current.
What it is:
- A consistent process for tracking income, expenses, invoices, and vendor payments
- Monthly reconciliation so problems don’t pile up
- Clear reporting you can use to make decisions
What it’s not:
- A once-a-year cleanup (that usually costs more and causes more stress)
- “Data entry only” with no quality control
What “clean books” should give you every month
When bookkeeping is working properly, you should be able to answer key questions quickly. For example, you’ll know how much you made last month, what bills are due, and whether cash flow is improving. In addition, consistent reporting makes tax planning easier and reduces surprises. Most importantly, clean books support better decisions.
7 signs you need bookkeeping help now
If any of these feel familiar, it’s time to tighten the system. Otherwise, small issues can quietly compound over time.
- You avoid logging into your accounting software
- Bank and credit card accounts haven’t been reconciled in months
- “Uncategorized expense” is a top category
- GST/HST payments surprise you
- You’re mixing business and personal spending
- You can’t tell which services/products are profitable
- Tax time is a panic every year
Even one or two of these can create compounding issues—especially when you’re growing.
A simple monthly bookkeeping checklist (the one most businesses skip)
To keep books clean, you need a consistent cadence. First, reconcile accounts so errors don’t build up. Next, review coding and sales tax tracking for accuracy. Finally, produce monthly reports so you can act on the numbers.
CHC Strategic’s bookkeeping services are built around tracking income, expenses, invoices, and vendor payments—so you always know what’s coming in and going out.
CRA-ready bookkeeping: what records you should keep (and for how long)
Beyond better reporting, bookkeeping also helps you stay CRA-ready. For instance, organized digital records make it easier to respond to questions quickly. That said, CRA rules can vary by situation, so it’s smart to follow official guidance and keep documentation consistent.
Two CRA rules that trip businesses up:
- Where records must be kept: Generally, you must keep records at your place of business or residence in Canada unless you have written CRA permission otherwise.
- How long to keep records: In many cases, records must be kept six years from the end of the year they relate to (and CRA guidance includes exceptions).
A good virtual bookkeeping setup makes this easier because documents, invoices, and transaction histories are organized and searchable—without shoeboxes.
(For CRA guidance, review Canada.ca resources on record keeping and GST/HST records.)
Choosing the right cloud tools (QuickBooks, Xero, and more)
Most modern cloud platforms can support:
- Automatic bank and credit card imports
- Invoicing
- Sales tax tracking
- Reporting (P&L, cash flow, etc.)
CHC Strategic specifically notes that tools like QuickBooks Online, Xero, and Wave are common options for Canadian small businesses, and the “best” one depends on how you operate (transaction volume, sales channels, industry needs, and your comfort with tech).
If you already have software in place, you may not need to start over—you may just need cleanup and a better monthly process.
How CHC Strategic’s virtual bookkeeping works
CHC Strategic positions bookkeeping as the foundation for confident decision-making—delivered through a streamlined, cloud-based process with real-time access.
Key elements highlighted on their site include:
- Cloud-based bookkeeping with 24/7 access to your financials
- Tailored support based on your industry, size, and desired involvement
- Remote delivery across Canada (based in Kelowna, but not limited to Kelowna)
- 25+ years of experience supporting Canadian businesses
If you need more than day-to-day bookkeeping, CHC Strategic also offers services like financial statement preparation, corporate/personal tax services, and controller/CFO support—so your bookkeeping can connect to bigger financial decisions.
To learn more, visit CHC Strategic’s Bookkeeping Services page at chcstrategic.ca/services/bookkeeping-services/ and reach out via chcstrategic.ca/contact/.
FAQ (useful for an FAQ schema section)
How often should bookkeeping be done?
For most small businesses, monthly bookkeeping (with monthly reconciliations) is the minimum for clean, decision-ready books.
Can virtual bookkeeping work if I’m not in Kelowna?
Yes. CHC Strategic notes their services are fully remote, so they work with businesses across Canada.
What does the CRA expect for record retention?
CRA guidance commonly references keeping records for six years from the end of the year they relate to, with some exceptions depending on context.
Do I need QuickBooks or Xero?
Not necessarily. Many platforms can work. CHC Strategic mentions options like QuickBooks Online, Xero, and Wave, and recommends matching the tool to how your business runs.
