Canadian Small Business Bookkeeping

Small business bookkeeping spreadsheet for Canada. Log your income and receipts once, and the workbook totals them by Form T2125 line, works out your GST/HST return lines for each period, and gives you the business share of your vehicle and home office costs.

MADE FOR CANADIAN SOLE PROPRIETORS

• Expense categories carry the T2125 line numbers (8521 Advertising, 8523 Meals and entertainment, 8690 Insurance, 9281 Motor vehicle expenses and the rest), checked against the CRA guides in October 2026
• GST/HST return worksheet for lines 101 to 109, by month, quarter or year
• GST and HST rate presets for every province and territory, or type your own rate
• Registered or not: ITCs are tracked when you are registered; when you are not, the GST/HST you paid stays in the expense

WHAT IT DOES

• Income Log: one row per invoice or sale (1,000 rows). GST/HST collected fills in from your rate
• Expense Log: one row per receipt (2,000 rows). Pick the T2125 line, type the amount and the GST/HST paid. Business-use %, deductible share and claimable ITCs calculate for you
• Meals and entertainment: the 50% limit is applied on the T2125 Summary, and the ITCs on those receipts are limited to 50% as well (one of the two CRA methods, so no year-end adjustment)
• Vehicle Log: odometer readings and business trips (500 rows) give the business-use % for vehicle costs
• Home Office: workspace area over home area gives the business share of home costs, with the income limit applied
• T2125 Summary: income, cost of goods sold, expenses, net income and business-use-of-home by line number, with a checks block
• Dashboard: income, expenses claimed, net income and GST/HST for the year, month by month, top expense lines and GST/HST by period
• Red flags for dates outside the fiscal year, missing categories, and a province not picked yet

WHAT YOU GET

• Canadian-Small-Business-Bookkeeping.xlsx (blank, set to the 2027 fiscal year; type any year)
• Canadian-Small-Business-Bookkeeping-with-Sample-Data.xlsx (an invented renovation business in BC, filled in)
• Quick-start guide (PDF)

HOW YOU GET IT

Digital download. After checkout you get a download page right away, plus a receipt by email. Nothing is shipped.

COMPATIBILITY

• Microsoft Excel 2016 or newer (Windows or Mac) and Excel for the web
• Google Sheets: upload the .xlsx to Google Drive, open it, then File > Save as Google Sheets
• Needs a computer or tablet with a spreadsheet app. Not an app or subscription

GOOD FOR

Self-employed Canadians, freelancers, tradespeople and side businesses who file a T2125 with their personal return.

PLEASE NOTE

Not included: a CCA (depreciation) calculator, payroll, corporations (T2 returns), QST or PST returns, and the Quick Method of accounting. You type CCA and inventory figures yourself. The GST/HST worksheet helps you fill in your return; it does not file anything. The CRA can change its forms, so compare each line before you file. Licensed for use in your own business; please don't resell or share the files.

DISCLAIMER

This template is a planning tool and does not replace advice from a qualified or licensed professional (such as an accountant, financial advisor, lawyer or certified tradesperson). Check the results before you rely on them.

HOW IT WAS MADE

Designed by VARS Digital with AI-assisted tools. Every formula is checked before release, and the sample file shows each tab working.

QUESTIONS

Email varsdigitals@gmail.com and we'll help you get set up.