Co-op & Social Enterprise Bookkeeping in Manitoba

Co-ops and social enterprises answer to members and communities as well as the bottom line.

Wiltshire Business Services keeps books that show both: a business that pays its way and a mission that’s working.

Co-op members reviewing quarterly numbers

Bookkeeping for Member-Owned and Mission-Driven Businesses

A co-op shares its surplus with its members. A social enterprise often mixes grants with sales. Standard small-business books handle neither well, so we set yours up to track member equity, patronage and each funding source from day one.

Co-op Bookkeeping Services

Member share register. Every member’s shares, purchases and redemptions, tied to the balance sheet. We check redemptions against the limits in Manitoba’s Cooperatives Act and your by-laws.

Patronage dividends. We calculate each member’s allocation from the business they did with the co-op. Allocations paid within 12 months of year-end are deductible for the co-op, and we document them so your accountant can claim the deduction. We handle the 15% withholding on payments over $100 a year where it applies, and issue the T4A slips.

Member shares on the balance sheet. Shares that members can redeem may need to be shown as a liability rather than equity. We set them up the way your accountant presents them.

Year-end and AGM. Statements ready for members at the annual meeting, and the figures for your annual return to the Registrar. A co-op that isn’t a distributing co-operative can resolve not to appoint an auditor; we keep your books audit-ready either way.

Community share offerings. Once a co-op is pre-approved under Manitoba’s Community Enterprise Development Tax Credit, investors can get a refundable credit of up to 45%. We keep the share and investor records an offering depends on.

Co-op conversions. Selling a business to its employees or community as a co-op? We get the books clean and ready for the valuation and the transition.

Social Enterprise Bookkeeping Services

Grants and earned revenue, side by side. Sales, contracts, grants and donations tracked separately, so funders see their money and you see whether the enterprise covers its costs.

Charities running a business. CRA allows a charity only a related business: one run substantially by volunteers (about 90%), or one linked and subordinate to its charitable purpose. We keep the enterprise’s revenue, costs and staffing separate so you can show where it stands.

Nonprofits with earned income. A nonprofit that isn’t a charity must still operate for a purpose other than profit to keep its tax exemption. Separate books for the business side help your accountant confirm it.

Sales tax on what you sell. GST once taxable sales pass the small-supplier threshold, and Manitoba RST on taxable goods. We set up your POS and invoices to charge both correctly.

Employment programs and wage subsidies. Many social enterprises hire through training or employment programs. We track subsidies and program costs by program, ready for funder reports.

True-cost pricing. Unit costs that include training and support time, so your prices cover what the mission really costs.

Co-op & Social Enterprise Development and Funding Under One Roof

Wiltshire Business Services, Inc. also provides co-op development services: feasibility studies, business plans, governance support and co-op conversion services. For years, we’ve helped co-ops, social enterprises, nonprofits and charities find and win funding, from identifying grants and programs to scoping, budgeting and writing the applications.

The team that builds your plan can also keep your books.

Who We Work With

New and existing co-operatives and social enterprises

Groups exploring the creation of new co-ops or social enterprises

All variety of co-operatives, including worker, consumer, producer, housing, multi-stakeholder and community service co-ops

Social enterprises operated by charities as well as for-profit social enterprises

How We Get Started

1. Review. By-laws, member records, latest versions of business plans and feasibility studies, funding agreements, financial

statements, funding agreements, strategic plans and last year-end.

2. Set-up. Member share register, patronage method, and separate tracking for grants and earned revenue.

3. Monthly Close. Reconciliations, then production of financial, member and program reports.

4. Year-End. AGM statements, patronage allocations and T-slips, annual return figures, and a clean file for your accountant

or auditor.

Books that work for your members and your mission.

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Frequently Asked Questions

Are patronage dividends taxable? For the co-op, allocations made in proportion to patronage are generally deductible if paid within 12 months after year-end. For members, they’re generally taxable unless they relate to consumer goods or services, such as groceries bought for personal use.

Does our co-op need an audit? Not always. In Manitoba, a co-op that isn’t a distributing co-operative can pass a special resolution not to appoint an auditor. Lenders and funders may still ask for one, and we’ll help you weigh it.

Can you help us raise money from our community? Yes. We prepare the business plan and projections, and keep the share and investor records for an offering, including one under the Community Enterprise Development Tax Credit.

Our charity runs a café. Is that allowed? It can be, if it’s a related business: mostly volunteer-run, or linked and subordinate to your charitable purpose. We keep books consistent with the regulations governing its set-up; your lawyer or accountant confirms the status.

Is a social enterprise a nonprofit? Not necessarily. A social enterprise can be a program of charity, a co-op or a for-profit company (including a for-profit subsidiary of a charity). The legal structure sets the tax and reporting rules, and we set up the books to match.