Keeping business records

Last reviewed against CRA pages: Sep 29, 2026. General information only.

What to keep

Keep records that support your income and expenses: sales invoices, receipts, bank and credit-card statements, and other documents. Electronic records must be kept in an electronically readable format. A bank statement line alone often doesn’t show what was bought — keep the receipt or invoice too.

How long

Generally, keep records for six years from the end of the last tax year they relate to. Some records must be kept longer — for example when a return was filed late, when you’ve objected to or appealed an assessment, or for records about property you bought or sold.

Where

The CRA expects records to be kept at your place of business or residence in Canada unless it gives written permission otherwise. Electronic records kept outside Canada require the CRA’s permission and conditions such as access for CRA officials. This is one reason this app is designed to store records in a Canadian region — check the privacy notice for where this installation actually stores data.

How the app helps

• Original receipt files are stored unchanged and linked to their transactions.
• Corrections are recorded as reversals, so the history stays complete.
• The year-end package bundles transactions, journal entries, invoices, reports and original receipts with a manifest.
• Records are never deleted because of their age. You can export any time, including after you cancel.

Official sources

• Business records — sole proprietorships (canada.ca)
• Where to keep your records, for how long (canada.ca)