Confirm the local process before committing
Burnaby recommends checking zoning before signing a lease or applying for a business licence, and advises checking for open permits that can prevent licence processing. Current building guidance retains paper, in-person applications for commercial tenant improvements despite broader digital intake. Confirm the route for the actual work.
Keep the property address, permitted-use questions, application references and written advice in the premises file. The City introduced development-approval changes effective July 1, 2026; some projects need a development permit before building-permit submission or issuance. A neighbouring unit's old approval sequence is not enough to establish yours.
Turn the lease contribution into a checklist
Record who pays each supplier, which costs qualify under the agreement, what evidence the landlord requires and when reimbursement becomes payable. Keep revised quotations and approved scope changes with the contract. Do not assume that a contribution is unconditional or payable as soon as you order equipment.
The accounting and tax treatment of improvements, reimbursements and lease incentives needs review from the actual documents. For cash planning, show expected reimbursement separately from contractor outflows. Netting the two together on the purchase date can conceal a temporary funding requirement.
Illustrative example: a Burnaby production supplier
A production supplier agrees $48,000 of improvements before applicable taxes. The lease offers an $18,000 contribution after specified completion documents are accepted. The supplier has paid $20,000, leaving $28,000 of contractor payments. With $32,000 available for the remaining work, only $4,000 remains before other obligations if reimbursement has not arrived.
The eventual net project cost may differ from the initial cash requirement. The owner confirms the contribution terms and plans for the $28,000 payment rather than assuming the landlord's $18,000 will arrive first. This example does not predict approval timing or decide how the contribution should be recorded for tax.
Finish with two completion records
One completion record contains the issued approvals, inspections and conditions applicable to occupancy and operation. The other reconciles contractor bills, payments, contribution claims and amounts still outstanding. Mark each unresolved item with its responsible person and next action.
Retain the source documents and accepted lease amendments with the records used by the accountant. The bookkeeping close should explain the remaining asset, payable or reimbursement question; it cannot itself establish lawful occupancy or replace a legal review of the lease.
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