Income records

Keep track of the gross income your business earns.

Gross income is your total income before you deduct the any expenses, including those associated with the goods sold.

Your income records should show all the following information concerning your income:

• the amount and date received;
• the source of the income.

Record the income whether you received cash, property, or services.

Support all income entries with original documents. Original documents include:

• sales invoices;
• cash register tapes;
• receipts;
• bank deposit slips
• patient cards;
• fee statements; and
• contracts.

For an example of how to records your income, see Example - Sales Journal - Month of July.

Forms and publications

• Guide T4002, Business and Professional Income

Related topics

• Keeping records

Date modified:

2016-01-05