Map the business before the software
We discuss ownership structure, sales channels, banking, anticipated staff and the way customers pay. A home studio, a small retailer and an event operator need different supporting schedules even when they use the same accounting application.
Opening balances come from evidence: financing documents, inventory counts, supplier statements and owner-funded purchases. We distinguish business formation costs, deposits, assets and day-to-day expenses for review rather than treating every launch payment identically.
Connect the administrative records
Keep licence and permit records with the opening budget, while leaving approval decisions with the relevant authority. For City of Victoria premises, the Business Hub can help route municipal questions. A provincial registration does not tell the accounting software how to reconcile customer deposits or payroll.
Illustrative example: a new neighbourhood workshop
A Victoria maker pays a refundable space deposit, buys equipment and orders materials before accepting its first workshop booking. Separate records show the deposit still recoverable, the asset requiring review and stock available for use. The first customer receipt then connects to a dated workshop rather than disappearing into an undifferentiated sales total.
Test the first complete cycle
We follow one sale, one refund, one purchase and one customer deposit from source document to reconciliation. The handover includes naming conventions, an upload schedule and a short approval guide. Tax registration decisions and technical accounting choices are referred for appropriate review before recurring rules are activated.
Questions about this work
Can setup begin before opening?
Yes. Early bank, expense and document routines make pre-opening spending easier to substantiate.
Will you obtain municipal approvals?
We can organize the financial records. The owner and relevant City departments handle licence and permit decisions.
Put this into practice
Sources and current guidance
A practical next step
Bring the records you have.
We can identify missing information, agree on the scope and organize the next bookkeeping step.
Request a bookkeeping review