Running a successful business in Canada—particularly in Edmonton, Alberta—requires more than just offering great products or services. At the heart of every thriving enterprise lies accurate, compliant bookkeeping. Whether you're a small business owner managing your own books, a professional bookkeeper serving clients, or working with an accountant to file taxes, understanding Canadian bookkeeping requirements is non-negotiable.The Canada Revenue Agency (CRA) mandates that all businesses maintain detailed financial records for at least six years from the end of the relevant tax year. Failure to comply can result in penalties, reassessments, lost tax deductions, and increased audit risk. Beyond compliance, proper bookkeeping provides the financial clarity needed to make informed business decisions, manage cash flow effectively, and position your business for sustainable growth.