Record the startup commitments
Owner funding, lease deposits, equipment, supplier advances and unpaid invoices need distinct records. Their treatment is not determined solely by the payment date. We organize the documents for the accountant where an asset, prepayment or owner-account decision is required.
Burnaby recommends checking the proposed location’s zoning before signing a lease or applying for a licence. That municipal review is separate from accounting setup and should have its own completion evidence.
Choose useful detail from the beginning
A workshop may need cost categories by order; a software business may need customer service periods. We agree the identifiers and reporting definitions before creating a long account list. Staff should be able to use the structure consistently.
Illustrative example: a small manufacturing startup
A Burnaby owner funds the business with $28,000, pays a refundable premises deposit and buys production equipment. The opening schedule separates the funding from sales and retains the lease and purchase invoices. It gives the first monthly report a documented starting position rather than treating all spending as supplies.
Questions about this work
Does setup include City approval?
No. We organize related records and references; the City and other authorities determine the required permissions.
Can the chart of accounts change later?
Yes, where the change serves a reporting need. Earlier categories and comparisons should remain understandable when the structure changes.
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