🧾 3 Common Bookkeeping Mistakes Trades Businesses Should Avoid (Especially for Plumbers & Truckers in Canada & the USA)

Running a plumbing or trucking business isn’t easy — and when you’re focused on jobs, calls, routes, or emergencies, paperwork often comes last.

But small bookkeeping mistakes can quietly cost you thousands each year — in missed tax savings, late fees, and lost payments.

Here are 3 simple but powerful areas you should never ignore:

1. Unpaid Invoices = Lost Income

Most trades businesses don’t follow up enough on payments — especially when the job is done and you're onto the next one.

Even just 1 missed invoice a month could mean $10,000+ lost annually.

What to do:

• Use a basic invoice tracker (even Excel works)

• Set calendar reminders to follow up every 7 days

• Consider automated invoicing apps

  
  

2. Mixing Personal and Business Expenses

Fuel, groceries, tools, home repairs — if they’re all on one card, tax time becomes a mess.

CRA or IRS doesn’t like guesswork. And you might miss deductions just because you can't prove they were business-related.

What to do:

• Open a separate business bank account

• Avoid using cash when possible (no trail = no claim)

• Keep digital copies of receipts

  
  

3. Waiting Until Year-End

If you only look at your books once a year, chances are:

• You’re overpaying taxes

• You’re missing claimable expenses

• You’re stressed during filing season

  
  

What to do:

• Set 1 hour each month to review your income/expenses

• Reconcile bank accounts monthly

• Don’t hesitate to get support — it saves more than it costs

  
  

Bonus Tip: File on Time — Always

Whether it’s GST/HST or IFTA, late filing can trigger avoidable penalties. Even if your income is low — filing keeps you compliant and in control.

Final Thoughts

Bookkeeping doesn’t need to be complicated — it just needs to be consistent.

As an offshore bookkeeping team working with trades businesses across Canada & the U.S., we’ve seen how small changes make big financial differences.

Even if you’re not ready to hire help — make sure your books work for you, not against you.

📌 Want a free Bookkeeping Checklist for Trades?👉 Contact us here or just WhatsApp +91 9958508900

Stay in control. Keep more of what you earn.

—CA Megha Kalra Founder, Pacific Overseas LLC Tax Advisor & QuickBooks Pro Advisor