Keeping On Track

Keeping on track

This section of the Charity Filing Guide has ideas to help you develop processes and systems to keep you organized. Finding the information you need to complete the T3010-1 information return is a big part of the job. If your records are up to date, completing the forms will be easier to manage.

Keeping Records gives you practical ideas to improve your record-keeping systems. Every charity is different. One system won't work for all groups. Use the ideas presented here as a starting point to develop new record-keeping systems or improve your existing processes.

Keeping books with T3010-1 in mind presents ideas for mapping the lines on Form T3010-1 to the accounts in your manual ledgers or computerized accounting system. Many of the ideas came from volunteers at small and rural charities who shared their experiences with us.

The accounting process timelines on this page outline the events and activities involved in filing the T3010-1 Registered Charity Information Return on time.

Links to information on this page

Accounting process timelines
See other pages in the Charity Filing Guide
Links to the CRA website

Accounting process timelines

The tables below show the major steps involved in preparing the T3010-1 Registered Charity Information Return. There is an example for each of the two most common fiscal year-end dates. Example 1 shows events based on a December 31 year-end. Example 2 shows events based on a March 31 year-end.

The timelines include events for manual and computerized accounting systems, and the cash and accrual methods of accounting. Depending on your accounting system, some of the events may not apply.

See the Handouts section of the Charity Filing Guide for Word versions of the tables you can modify to fit your accounting process. Delete events that don't fit. Consider adding provincial or municipal reporting deadlines and deadlines for submitting applications to granting agencies.

Example 1: December 31, 2010 Year-end: accounting process

Month Event Steps: T3010-1 Registered Charity Information Return
December, 2010 Dec. 31 year-end
  • Run trial balance (computer system)
  • Close ledgers (manual system)
  • Review accounts
  • Call CRA if you haven’t received your T3010-1 Registered Charity Information Return by the end of December.

Tip: Add the deadline for filing the return to your charity's board meeting calendar for February/March/April/May each year. Make the board responsible for ensuring that the return is filed on time.
January, 2011 Close old accounting year

Open new accounting year
  • Call the bank if you haven't received your December bank statements by the end of January.
  • Enter outstanding transactions
  • Produce financial statements
  • Send financial statements to the auditor or accountant, if you have one
  • Board reviews financial statements
February, 2011
  • Begin to complete T3010-1, T1235(09), T1236(10) and any other forms that apply to your charity.
March, 2011
  • Continue to work on the forms, if you haven’t finished.
April, 2011
  • Submit T3010-1 Information return before June 30.
May, 2011 One month before deadline
  • CRA sends a notice reminding you to file the T3010-1 Information Return
  • Complete the return and prepare to submit.
  • A board member must sign the return.
  • The treasurer must sign the financial statements if they were not prepared by a professional.
June, 2011 Deadline: File T3010-1 Registered Charity Information Return
  • Submit T3010-1 Information return before June 30.
  • If you miss the deadline, CRA will apply sanctions Sanctions include fines and the right to revoke your charity's registered status.

Example 2: March 31, 2010 Year-end: accounting process

Month Event Steps: T3010-1 Registered Charity Information Return
March, 2010 March 31 Year-end
  • Run trial balance (computer system)
  • Close ledgers (manual system)
  • Review accounts
  • Call CRA if you haven't received your T3010-1 Registered Charity Information Return by the end of March.

Tip: Add the deadline for filing the return to your charity’s board meeting calendar for May/June/July/August each year. Make the board responsible for ensuring that the return is filed on time.
April, 2010 Close old accounting year

Open new accounting year
  • Call the bank if you haven't received your March bank statements by the end of April.
  • Enter outstanding transactions
  • Produce financial statements
  • Send financial statements to the auditor or accountant, if you have one
  • Board reviews financial statements
May, 2010
  • Begin to complete T3010-1, T1235(09), T1236(10) and any other forms that apply to your charity.
June, 2010
  • Continue to work on the forms, if you haven't finished.
July, 2010
  • Submit T3010-1 Information return before September 30.
August, 2010 One month to deadline
  • CRA sends a notice reminding you to file the T3010-1 Information Return
  • Complete the return and prepare to submit.
  • A board member must sign the return.
  • The treasurer must sign the financial statements if they were not prepared by a professional.
September, 2010 Deadline: File T3010-1 Registered Charity Information Return
  • Submit T3010-1 Information return before September 30.
  • If you miss the deadline, CRA will apply sanctions. Sanctions include fines and the right to revoke your charity's registered status.

See other pages in the Charity Filing Guide

See Handouts for Word versions of the timelines that you can customize.

See Keeping Records for practical ideas to improve your record-keeping systems.

See Keeping Books with T3010 in Mind for ideas for mapping your records to Form T3010-1B.

Links to the CRA website

Charities Directorate website
http://www.cra-arc.gc.ca/charities/

Guide T4033-1 Completing the Registered Charity Information Return
http://www.cra-arc.gc.ca/E/pub/tg/T4033-1/README.html

The CRA Charities Listings
http://www.cra-arc.gc.ca/chrts-gvng/lstngs/menu-eng.html