How to Prepare Your Books for the April 30 Tax Deadline

The April 30 tax deadline is coming—take a breath, get organized, and start today. You’ve got this

Tax Season Is Here – Let’s Get Organized

The April 30 tax deadline is approaching fast! If you’re a small business owner, freelancer, or entrepreneur, now’s the time to tidy up your books so you can file confidently—and avoid the stress of a last-minute scramble.

Getting your financial documents in order now will save you time, money, and headaches down the road. At Money Back Bookkeeping, we’re here to make that process easier.

Here’s a step-by-step guide to help you get started.

Step 1: Track Your Income & Expenses

Accurate tracking is the foundation of good bookkeeping. If you haven’t done so already, now’s the time to:

• Record all revenue, including sales, grants, and other income

• Log every business-related expense (think: office supplies, software, client lunches, etc.)

• Separate your business and personal transactions

Using accounting software can make this process much easier by automatically importing transactions and organizing them into categories. If you're not sure where to start, we can help set you up.

Step 2: Reconcile Your Bank & Credit Card Accounts

Reconciliation just means comparing your bank and credit card statements with your bookkeeping records to make sure everything matches.

Here’s what to look for:

• Missing or duplicate transactions

• Errors in amounts

• Unrecognized charges

Doing this regularly—ideally monthly—makes tax season much smoother and gives you a clearer picture of your cash flow.

Step 3: Organize Receipts & Invoices

Receipts and invoices are essential proof of your business expenses. If you're still digging through piles of paper or unorganized emails, it’s time to take control.

Try these tips:

• Scan and save receipts digitally (many apps can do this!)

• Organize them by category or month

• Use cloud storage for easy access and backup

Many accounting tools can even match your receipts to specific transactions—no more guessing.

Step 4: Review Your Financial Statements

Before filing, take a close look at your:

• Income Statement (Profit & Loss)

• Balance Sheet

• Cash Flow Statement

Make sure everything is categorized correctly and that there are no surprises. Look for any red flags like missing income or unusual expenses. This is also a great time to spot trends and make strategic decisions for your business.

Step 5: Stay Informed About Tax Changes

Tax laws can change from year to year. Whether it's updates to deduction limits or new credit opportunities, staying informed helps you avoid mistakes and take advantage of any benefits available.

Not sure what's changed this year? We can walk you through the key updates that might affect your return.

Step 6: Know When to Ask for Help

Let’s face it—bookkeeping isn’t everyone’s strong suit, and that’s okay. Hiring a professional bookkeeper can save you hours of frustration and ensure everything is done right the first time.

At Money Back Bookkeeping, we help small businesses across PEI and beyond:

• Catch up on past bookkeeping

• Set up systems that work for you

• Reconcile accounts

• Get everything ready for tax time

We're here to support you whether you need a quick clean-up or full-service bookkeeping.

Final Thoughts: Don’t Let the Deadline Sneak Up On You

The April 30 tax deadline will be here before you know it. Taking time now to get your books in order will give you peace of mind and possibly save you money in the long run.

If you’re feeling overwhelmed or not sure where to start, we’ve got your back.

Contact us today to make tax season easier—and get back to focusing on what you do best: running your business.

Get Started Today!

Disclaimer: This blog is for informational purposes only. Read full disclaimer here.