The Complete 2025 Bookkeeping Checklist for Small and Medium Businesses — Montreal CPA Auditor Near Me

Managing your books year-round is crucial for small and medium business owners in Quebec to stay compliant with CRA and Revenu Québec rules. A proactive approach helps you avoid costly penalties and last-minute stress. According to CRA guidelines on Canada.ca, businesses must meet various federal filing and payment dates, and Revenu Québec (per official information on revenuquebec.ca) outlines additional provincial obligations. This bookkeeping checklist 2025 is organized by quarter, highlighting key tasks and tax deadlines Quebec business owners need to remember. It covers everything from routine bank reconciliations to GST/QST filings, payroll remittances, T4/RL-1 slips, corporate tax returns (T2 federal and CO-17 Quebec), records retention, and CRA audit prep. Throughout the year, consider the value of having professional bookkeeping with CPA oversight – a CPA Montreal professional can ensure accuracy and compliance every step of the way. Let’s dive into the quarterly checklist:

Q1 (January – March) – Year-End Wrap-Up and New Year Setup

Start the year by closing out your previous year’s books and handling critical filings due in the first quarter. In Q1, you’ll be finalizing last year’s records while laying the groundwork for 2025 compliance.

• Close the Books for 2024: Perform year-end accounting procedures for 2024. This includes completing December bank reconciliations, reviewing income and expenses, and making any adjusting journal entries. Ensure all 2024 transactions are recorded accurately so that financial statements (income statement, balance sheet) are ready for tax preparation and audit review. Verify that all accounts (bank, credit cards, loans) are reconciled and any discrepancies are resolved. This year-end close sets a clean starting point for 2025’s bookkeeping.

• GST/QST Filing for Q4 2024: If your business files sales tax quarterly, the Q4 2024 GST/HST return (and the QST return for Quebec) needs to be filed by January 31, 2025 (one month after the quarter end)quickbooks.intuit.com. Remit any GST/HST and QST owed for October–December 2024 by that date to avoid interest. For monthly filers, continue to file your December 2024 GST/QST by Jan 31 as well. Mark this deadline on your calendar, as it’s the first compliance task of the new year. (If you are an annual filer for sales tax, note that annual GST/QST returns are due three months after year-end. For example, a Dec 31 year-end annual filer would have a March 31, 2025 deadline, though CRA extends the payment deadline to April 30 for unincorporated individualscanada.ca.)

• Payroll Remittances (December 2024 and Ongoing): Remit your December payroll source deductions to the CRA and Revenu Québec by January 15, 2025. In Quebec, this includes federal withholdings (income tax, EI) to the CRA and provincial withholdings (Québec income tax, QPP, QPIP) and employer contributions (e.g. CNESST, health fund) to Revenu Québec. Timely payroll remittances are required monthly (by the 15th of the following month for regular remitters) – for example, January 2025 payroll withholdings are due by February 15, and February’s by March 15. Continue this monthly routine throughout 2025 (or quarterly if you qualify as a quarterly remitter). Staying on top of payroll taxes will keep you in Revenu Québec compliance and avoid hefty late penalties.

• Issue T4 and RL-1 Slips by Feb 28: If you have employees, January and February are when you prepare their annual wage slips. T4 slips (Statement of Remuneration Paid) must be filed with the CRA and provided to employees by the end of February. In Quebec, you must also file RL-1 slips (Relevé 1) with Revenu Québec for employment income, by the same daterevenuquebec.ca. This means all payroll records for 2024 should be finalized in January so you can prepare the T4/RL-1 slips. By February 28, 2025, submit the T4 summary and slips to CRA and the RL-1 summary and slips to Revenue Québec, and give employees their T4/RL-1 copies. (This date is firm – according to CRA guidelines at Canada.ca, employers are required to file T4s by the last day of February.) If you paid any other taxable benefits or allowances, include those in the slips as required. Pro tip: Have a Montreal CPA auditor or accountant review your T4s/RL-1s for accuracy – mistakes in these forms can trigger audits or penalties.

• Other Information Returns (Feb 28): By the same February 28 deadline, file any other required tax information slips for 2024. For example, if your corporation paid dividends or interest to shareholders, prepare T5 slips for those payments and file them with CRA by Feb 28. Similarly, any T4A slips (for contractors or certain pensions) are due by this date. Quebec does not have a separate dividend slip (Quebec residents also use the federal T5), but ensure any Relevé slips for other income types (like an RL-3 for investment income, if applicable) are handled. Essentially, all 2024 income slips that you as a business issuer are responsible for must be filed by the end of February 2025. Mark this “slip rush” on your calendar early and begin preparations in January. Missing the deadline can result in late-filing penalties, though the CRA sometimes grants brief administrative extensions in unusual circumstances. It’s best not to rely on extensions – file on time.

• File the RL-1 Summary & Reconcile DAS: Along with RL-1 slips, Quebec employers need to file the RL-1 Summary (“Sommaire des retenues et des cotisations de l’employeur”) by Feb 28. This summary reconciles the total source deductions and employer contributions you remitted to Revenu Québec in 2024 with what should have been remitted. Make sure your records of monthly DAS (Déductions à la Source) payments match the summary. If there’s a shortfall (e.g. you under-remitted QPP contributions), you’ll need to pay the balance when filing. If you’ve kept up with remittances, the summary will confirm you’re squared up. Filing this is mandatory – even if you had no employees or no salaries in a period, a nil report is required to avoid penalties.

• Quebec CNESST Filing (due March 15): By March 15, 2025, Quebec employers must file the annual CNESST “Déclaration des salaries” (Statement of Wages) for 2024. This report to the CNESST (workers’ compensation board) details your total insurable wages paid in 2024. It’s used to calculate your CNESST insurance premium for workplace injuries. Make sure to include all eligible salaries (and exclude owners’ salaries if they are not covered) as requested in the form. The filing is done online via your CNESST portal (or by mail if necessary). By filing this by March 15, you ensure your coverage remains in good standing. Note: If you had no employees other than owner-directors, and thus are exempt from CNESST, you typically still must file a nil report to confirm no insurable wages.

• Corporate Tax Installment or Balance Payments: Many small businesses are structured as corporations. If your corporation has a December 31 year-end, prepare for corporate income tax payments in Q1. Canadian-controlled private corporations (CCPCs) that claimed the small business deduction have until March 31, 2025 to pay any remaining balance of corporate tax for the 2024 fiscal year (3 months after year-end). Corporations that don’t qualify for the small business deduction must pay their balance by the end of February (2 months after year-end). Mark the applicable date (Feb 29 or Mar 31) to avoid interest on late payments. Even if your corporate tax return isn’t due until later (see Q2 section), the money should be paid now. If your corporation is required to pay income tax by instalments, continue to remit those on schedule (often monthly or quarterly). For instance, a CCPC with quarterly tax instalments would pay by January 31 and March 31 for the first two quarters of its fiscal year. Consult your small business accountant in Montreal if you’re unsure about installment amounts or deadlines.

• Ongoing Bookkeeping in Q1: Throughout Q1, maintain your regular bookkeeping routine. Every month, continue recording all transactions (sales, expenses, deposits, withdrawals) promptly. Perform monthly bank reconciliations for January, February, and March accounts – this ensures your books align with bank statements and catches any errors or missing entries early. Review your accounts receivable and follow up on late-paying clients from year-end. Also review accounts payable – year-end often comes with many bills, so ensure you’ve recorded all 2024 expenses and start 2025 fresh. Staying organized in Q1 sets the tone for the rest of the year. It’s wise to meet with your CPA (Montreal-based or local) early in the year to review last year’s results and plan for the new year, including any tax strategy adjustments for 2025.

Q2 (April – June) – Compliance Deadlines and Tax Filings

The second quarter brings important spring deadlines for both federal and provincial taxes. In Q2, you’ll be focused on finalizing tax returns (business and personal) and making sure Q1 of 2025 is properly accounted for. Here are the key tasks for April, May, and June:

• Personal Income Tax Filing by April 30: If you’re a sole proprietor, unincorporated entrepreneur, or if your business is structured as a partnership, remember that your personal income tax return for 2024 is due by April 30, 2025. (This is the standard deadline for all individual taxpayers in Canada.) File your T1 return by this date and pay any income tax owing to the CRA by April 30. Note: If you or your spouse carried on a business in 2024 (i.e. self-employed), the CRA extends your filing deadline to June 15, 2025, but any taxes owed are still due by April 30. Don’t be fooled by the later filing date for self-employed individuals – you must calculate and pay the estimated balance by April 30 to avoid interest. Make sure to also file your Quebec provincial income tax return (TP1) by the same applicable deadline (April 30 for most, June 15 if self-employed). Mark these dates: April 30 is a critical tax deadline in Quebec and Canada. According to CRA rules, even if you get a filing extension to June 15 as a business owner, no extension is granted on payments. It’s wise to complete your personal taxes well before April 30. If your business is incorporated, your salary T4 income and dividends (T5) should be already accounted for in those personal returns.

• GST/QST for Q1 2025: For businesses filing sales taxes quarterly, the GST/HST and QST returns for Q1 2025 (Jan–Mar) are due by April 30, 2025. File these with CRA (for GST/HST) and Revenu Québec (for QST) and pay any amounts owing by April 30. This aligns with the guidance that quarterly filers must remit one month after the quarter ends. If you’re a monthly filer, you’ll have returns due April 30 (for March), May 31 (for April), and June 30 (for May) respectively – continue to file those on time each month. Missing a sales tax filing can result in penalties and holds on refunds, so treat April 30 with the same urgency for GST/QST as you do for income taxes. If you’re an annual filer for GST/QST and on a calendar year, note that April 30 is also the payment deadline for your 2024 GST/QST (with the filing due by June 15, as mentioned in Q1).

• Payroll Remittances and T4 Summary (Q2): By mid-April, you should also complete and submit the T4 Summary to the CRA if it wasn’t filed yet (the T4 summary normally accompanies your T4 slips, due Feb 28). Assuming you filed it in Q1, no action is needed in Q2 for the T4 summary, but do address any confirmation letters from the CRA (they often send a T4 summary balance check). Continue your regular payroll remittances: April 15, May 15, June 15 deadlines for the prior months’ withholdings. Note that April 15, 2025 is also the remittance deadline for any Q1 (Jan–Mar) payroll if you are one of the very small employers eligible to remit quarterly. Most businesses remit monthly, but Quebec and federal tax authorities do allow some small remitters to file quarterly (generally if your total annual source deductions are below a threshold). If you elected quarterly payroll remitting, Q1’s payroll taxes would be due by April 15. Double-check your remitter status on the CRA and Revenu Québec accounts, and keep sending those payroll taxes on time. Staying consistent keeps your payroll accounts in good standing with tax authorities.

• Corporate Tax Returns (T2/CO-17) Due: If your corporation’s fiscal year ended on December 31, 2024, the corporate income tax returns are due in Q2. June 30, 2025 is the filing deadline for both the federal T2 return and the Quebec CO-17 return for a Dec 31 year-end. Corporations have 6 months after year-end to file their T2 returns. Ensure all corporate financial statements and schedules are finalized and given to your accountant or CPA in Montreal well before this deadline so they can prepare the returns. Remember, any balance owing for corporate taxes should have been paid by the end of Q1 (Mar 31 for CCPCs) – but even if you paid, you must file the returns by June 30 to avoid late-filing penalties. Revenu Québec’s CO-17 is generally due on the same date as the T2 (both governments align the 6-month timeline). Tip: Mark June 30 as a non-negotiable deadline; if you anticipate any delays, file for an extension or at least file the return on time and amend later if needed. According to the CRA, late filing a T2 can incur a penalty even if no tax is owed.

• Quebec Corporate Taxes (CO-17 considerations): When filing your CO-17 (Quebec corporate return) by June 30, make sure to also submit any Quebec-specific forms (like the CO-17.A.1 for the Income Tax Act adjustments, or forms for R&D credits, etc., if applicable). If your business has a presence outside Quebec as well, your accountant will allocate income between jurisdictions on Schedule 402. These are technical tasks your CPA will handle, but as the owner, ensure you’ve provided all necessary info. Also confirm that any Quebec corporate tax installments made during 2024 are correctly credited on your account to avoid discrepancy notices. Revenu Québec, much like CRA, expects installments if the corporate tax liability is over $3,000 – these would align with the federal installment schedule (monthly or quarterly).

• Installment Payments – Personal & Corporate: Q2 includes a major installment date. June 15, 2025 is the due date for the second quarterly personal income tax installment for the 2025 tax year (for those required to pay installments). If you’re self-employed or had a tax balance over $3,000 in the previous year, you might be required to pay personal tax in installments. The four installment due dates each year are March 15, June 15, September 15, and December 15. Ensure your June 15 installment is calculated and paid to both CRA and Revenue Québec (they each have their own installment systems). On the corporate side, if your corporation pays quarterly installments and has a Dec year-end, an installment would likely be due June 30 (covering Q2 of the fiscal year). Mark your calendar and consider scheduling these payments in advance. This is where working with a small business accountant in Montreal pays off – they can help forecast your tax and set up the right installment amounts so you’re not caught short.

• Financial Q1 Review: With the first quarter of 2025 closed, take some time in Q2 to review your financial performance. Compare Q1 results against your budget or last year’s numbers. This is a good checkpoint to see if revenues and expenses are on track. It’s also an ideal time for a bookkeeping check-up with your CPA: have them review your Q1 bookkeeping records for any inaccuracies or misclassifications while things are still fresh. Catching and correcting errors by mid-year (for example, a misposted GST expense or a missed depreciation entry) will make year-end much easier. A Montreal CPA can also advise on any tax planning opportunities to implement in the remainder of the year (e.g. adjusting quarterly installments, planning asset purchases, etc.). By staying proactive in Q2, you’ll maintain clean books and be well-prepared for the second half of the year.

• Record Retention and Organization: As you file important taxes this quarter, make sure to organize and retain copies of all filings and supporting documents. The CRA recommends keeping all records for at least six years from the end of the tax year to which they relate. This means your 2019 and later records should still be on file in 2025. Set up a secure filing system (digital and/or physical) for your 2024 tax records – store copies of your T4s, RL-1s, tax returns, and receipts in a safe place. Good recordkeeping isn’t just about compliance; it also makes any future audits or questions much easier to handle. According to CRA guidelines (Canada.ca), maintaining organized records for the full retention period is mandatory and will substantiate your claims if the CRA or Revenue Québec ever asks. Consider using cloud backups or an accounting software that keeps digital copies of receipts and returns. Being organized now saves headaches later.

Q3 (July – September) – Mid-Year Checkpoint and Ongoing Compliance

The third quarter is typically a bit quieter in terms of the number of tax deadlines, but it’s a critical period to keep your bookkeeping disciplined. Summer holidays shouldn’t mean a holiday from accounting! Here’s your checklist for Q3 to ensure you remain on track:

• GST/QST Filing for Q2 2025: If you file quarterly, your Q2 2025 GST/HST and QST returns (covering April–June) are due by July 31, 2025. File these by the end of July and pay any amounts owing. For monthly filers, you’ll of course also have filings on July 31 (for June), August 31 (for July), and September 30 (for August). Continue to submit on time – the mid-year point is no time to slip on sales tax compliance. If you’re expecting a refund on your GST/QST returns (common if you had large input tax credits, perhaps due to major purchases), filing promptly ensures you get that refund cash sooner. Also, note any changes in tax rates or rules that might have come into effect mid-year (e.g. if there were GST/HST rate changes or new Quebec rules, incorporate those). As of 2025, GST is 5% and QST is 9.975%, unchanged, but always stay informed via official bulletins.

• Payroll & Remittances (Ongoing): Through Q3, keep up with regular payroll duties. Remit source deductions by the 15th of each month (July 15, August 15, September 15). If you issued any bonus or special payments over the summer, ensure you’ve withheld the correct amounts and remitted them. Summer is also a good time to review employee vacation pay and entitlements – many staff take vacations, so make sure your records of vacation accrual and usage are up to date. If you hire students or temporary help in summer, remember to add them to payroll properly (with TD1 forms for tax withholding) and include their earnings in your remittances. Quebec note: If any new Quebec payroll levies or contributions rates changed as of July 1 (for example, QPIP or CNESST rate adjustments), implement those in your payroll system. Mid-year changes are rare, but it’s worth double-checking on RevenuQuebec.ca for any updates.

• Third Personal Tax Installment: For those paying personal tax installments, September 15, 2025 is the due date for the third quarterly installment. By now, you should have paid installments in March and June; the September payment further reduces your balance owing at year-end. The CRA and Revenue Québec typically send installment reminders in August for the September 15 payment – don’t ignore these. Even if you don’t receive a notice, it’s your responsibility to pay if you’re required to. Calculate your installment based on either the government’s suggested amount (which is often based on your 2024 taxes) or 90% of your expected 2025 total tax to avoid interest. Make the payment online well ahead of the deadline or set it up via online banking. Keeping up with installments will help audit prep too, as it shows you’re proactively managing your tax obligations.

• Mid-Year Financial Statements & Review: With two quarters of the year completed, Q3 is an ideal time to generate mid-year financial statements (covering January–June 2025). Review your year-to-date Profit & Loss and Balance Sheet. This internal check can highlight any anomalies – for instance, have all major expenses (insurance, property taxes, etc.) been recorded in the proper period? Are your gross profit margins on track? For inventory-holding businesses, consider doing a mid-year inventory count in July or August to ensure your bookkeeping stock records align with actual stock on hand. Discrepancies can then be investigated and fixed now rather than at year-end. Invite your CPA or accountant to perform a mid-year audit or review of your books. Many Montreal small businesses schedule a summer review meeting with their accountant or CPA auditor to discuss tax strategies for the remainder of the year (such as whether to make any advance tax elections, adjust salaries/dividends for owner-managers, etc.). This professional oversight in the middle of the year helps prevent surprises at year-end.

• Budget Check and Tax Planning: Revisit your 2025 budget or business plan. Q3 is often when businesses assess if they need to pivot for Q4 – maybe ramp up marketing if sales are behind, or cut costs if you’re over budget. From a bookkeeping perspective, update your cash flow projections for the next 6 months based on first-half results. Also start initial tax planning for year-end: if profits are higher than expected, you might discuss with your CPA whether to acquire any needed equipment before year-end to use capital cost allowance (CCA) claims, or whether to contribute to an owner’s RRSP by the deadline to reduce taxes, etc. These considerations are easier to implement when you identify them in Q3 rather than last-minute in December. Good planning now can optimize your tax position and ensure compliance with any new tax rules effective in 2025. (For example, the federal government sometimes introduces new tax credits mid-year – make sure you’re capturing any that apply to your business.)

• Keep Up with Bookkeeping Basics: It’s easy to fall behind on bookkeeping during the summer, especially if your business cycle is slower or if you take a vacation. However, consistency is key. Continue to record all transactions weekly, reconcile accounts monthly, and review your GST/QST input tax credits periodically (to ensure you’re claiming all you’re entitled to). Q3 is a good time to clean up small things: write off any truly uncollectible receivables (bad debts) in your books, adjust any prepaid expenses or accruals that need mid-year true-up, and verify that your payroll records (year-to-date for each employee) are accurate with no anomalies. Maintaining these bookkeeping habits will make Q4’s year-end crunch much smoother. If needed, consider engaging a bookkeeper or accountant for a mid-year catch-up if you’ve fallen behind. It’s much better to reconcile and fix things in September than to let problems compound by December.

Q4 (October – December) – Year-End Prep, Audit Readiness, and Closing the Year

The fourth quarter is all about finishing the year strong and setting yourself up for a smooth year-end close. In Q4, you’ll prepare for the upcoming tax season and ensure your books are audit-ready. Here’s the checklist for the final quarter:

• GST/QST Filing for Q3 2025: For quarterly filers, the Q3 2025 GST/HST & QST returns (July–September) are due by October 31, 2025. File these by the end of October and pay any balances. This is the last quarterly filing of 2025 (since Q4’s filing will be done in Jan 2026). By now you should have a good system in place – continue the accuracy. For monthly filers, October 31 (for September), November 30 (for October), and December 31 (for November) are your due dates this quarter. Don’t let holiday season distractions delay your filings. Remember, according to Revenue Québec and CRA, filing on time is crucial even if you can’t pay right away – it avoids late-filing penalties (though interest on unpaid amounts will still accrue). So, get those returns in on time. If you anticipate cash flow issues around year-end, plan ahead for the GST/QST payments or talk to a CPA about strategies.

• Payroll Year-End Planning: As the year winds down, start preparing for payroll year-end processes. In December, verify each employee’s year-to-date earnings, deductions, and taxable benefits. This is the time to correct any payroll errors (e.g. missed CPP/QPP contributions, misclassified benefits) before the final pay of the year. Ensure any bonuses or commissions to be paid for 2025 are processed in the December payroll if you want them included in 2025 T4/RL-1 slips. (Bonuses can be accrued at year-end and paid within 180 days to still count for tax in the prior year in some cases, but check with your CPA for the proper handling.) Also, remind employees to review their personal information (addresses, SIN, etc.) so that T4s/RL-1s will be correct. By mid-December, order or ensure access to 2025 T4 and RL-1 forms (or updated payroll software) so you’re ready in January. Staying on top of payroll in Q4 ensures a smoother slip-filing season next February.

• Fourth Personal Tax Installment: December 15, 2025 is the due date for the final personal tax installment for the 2025 tax year. This is the last chunk that will cover any remaining tax liability for the year. After this payment, ideally, you have covered your 2025 taxes through installments (if you’ve based them on last year’s amount or current year estimates). Any shortfall or excess will be sorted when you file the 2025 tax return in spring 2026. Make this payment on time to avoid installment interest. It’s also a good time to reflect: if your business income has fluctuated significantly in 2025, you may want to adjust this last installment (with advice from your accountant) to more closely match your actual expected tax owing. Both CRA and Revenu Québec allow you to base installments on current-year estimates, which can be advantageous for growing businesses. Keep documentation of how you calculated your installments, in case the CRA ever questions it.

• Year-End Inventory and Asset Tasks: If your business carries inventory, plan for a year-end inventory count around December 31. Many businesses do a full count at year-end to true up their books (this is needed for accurate Cost of Goods Sold calculations). Coordinate with your team to count stock after business hours or during a slow period, and make sure all incoming/outgoing items around New Year’s are carefully tracked. Similarly, review your capital asset purchases for 2025: if you planned to acquire equipment or technology and haven’t yet, December is often the last chance to do so if you want to claim depreciation (CCA) for 2025 on those assets. (Under CRA rules, most assets get half-year rule for CCA, but even then, purchasing before year-end can accelerate some write-offs.) Consult your CPA about any end-of-year tax moves, like paying salaries/bonuses, dividends, or making contributions (e.g. to a pension plan) – these should be executed by December 31 to count for 2025. Be mindful of Revenue Québec compliance on any provincial credits or incentives that have year-end deadlines (for example, some R&D credit applications or holidays require actions by Dec 31).

• Pre-Audit Prep and Compliance Check: Q4 is the time to get your books in impeccable order. Imagine an auditor shows up in January – would you be ready? Go through audit prep steps now. Ensure you have documentation for all major transactions in 2025: invoices for all big expenses, receipts for any travel or meals claimed, contracts for any new leases or loans, etc. According to CRA best practices, having organized records (receipts, invoices, bank statements, payroll records, tax filings) ready and filed by year will make any future audit much smoother. Verify that your GST/QST collected matches what you remitted, and that you have bills to support all input tax credits claimed. Perform an internal review of expense reports and ensure no personal expenses are accidentally recorded through the business (a common audit red flag). If you find any inaccuracies, correct them via adjusting entries in your books before closing the year. This is also a good time for your CPA or bookkeeper to do a final review – a sort of mini-audit – to catch any compliance issues (e.g. shareholder loan accounts that need to be cleared, or payroll remittances that were off by a small amount). Resolve these issues now rather than in the new year.

• Records Retention and Year-End Archiving: As the year closes, implement a process to archive your 2025 records safely. Both CRA and Revenue Québec require you to keep your books and records for six years after the tax year, so do not throw away or delete 2019-2025 documents. Back up digital records from your accounting software for 2025 and store a copy off-site or on secure cloud storage. Print or PDF significant ledgers (general ledger, trial balance, financial statements) and file them. Organize your paperwork – for example, put all of 2025’s invoices, receipts, bank statements, and tax correspondence into clearly labeled folders. Not only is this legally required, but it also makes life easier if you switch accountants or need to reference something in the future. Per CRA guidelines, you should retain these records in a way that they’re accessible and readable by officials if requested. By creating a year-end archive, you also set the stage for a clean start in the new year (you can close the books knowing everything is stored properly).

• Engage Professional Help if Needed: If there was ever a time to lean on professional bookkeeping and CPA oversight, it’s Q4. Many small businesses bring in their accountant for a year-end closing session. A Montreal CPA auditor can review your 2025 financials, propose year-end adjustments (for depreciation, bad debts, accruals, etc.), and ensure compliance with both federal and Quebec-specific reporting. They can also help you compile the working papers that will be needed for your corporate tax returns (T2/CO-17) and any audit prep documentation. Furthermore, having CPA-reviewed books adds credibility and peace of mind – you’ll know that when tax season comes or if the CRA or Revenue Québec selects you for an audit, your financial records are accurate and defensible. Consider scheduling an appointment in December or early January with your accountant to go over the full-year results and set deadlines for tax filings. The investment in professional help can save you from costly errors and penalties, and it underscores the importance of doing things right.

Conclusion: Stay Compliant with Year-Round Diligence and CPA Support

By following this comprehensive 2025 bookkeeping checklist, Quebec business owners can navigate the year’s obligations confidently and avoid last-minute scrambles. Marking each deadline – from the tax deadlines Quebec requires, like Revenue Québec filings, to federal CRA due dates – and handling tasks in the proper quarter will keep your business compliant and financially healthy. Remember that the goal is not only to meet deadlines but to maintain accurate records and insights into your business all year long.

Crucially, don’t hesitate to leverage the expertise of a professional. Working with a small business accountant in Montreal or a CPA Montreal firm throughout the year is invaluable. They provide oversight, ensure nothing is overlooked, and add assurance that your bookkeeping aligns with CRA guidelines and Revenue Québec rules. Professional guidance can help with CRA audit prep as well – by keeping your books audit-ready and advising on best practices, a CPA reduces the risk of non-compliance issues.

In summary, staying organized with your bookkeeping and adhering to this checklist will help you stay on track in 2025. You’ll meet every important deadline – GST/QST filings, payroll remittances, T4/RL-1 slips, T2/CO-17 tax returns, etc. – and thereby avoid penalties or interest. More importantly, you’ll gain peace of mind that your business’s financial affairs are in order. As the year progresses, you can focus on growing your business, knowing that your accounts are accurate and up-to-date. Compliance is not a once-a-year task; it’s a continuous process. With diligence and perhaps a helping hand from a trusted Montreal CPA, you’ll keep your company in good standing with the tax authorities and well-prepared for whatever comes next. Here’s to a financially organized and successful 2025!