How to Prepare Your Small Business for a CRA Audit
Know Your Risk
The CRA selects businesses for audit based on various factors including inconsistent reporting, high deduction ratios, and industry benchmarks. Understanding your risk profile helps you stay prepared.
Organize Your Records
Keep all receipts, invoices, bank statements, and contracts organized and easily accessible. Digital storage with proper categorization makes audit responses faster.
Common Audit Red Flags
Watch out for: claiming 100% business use on vehicles, large entertainment expenses, home office deductions disproportionate to income, and missing source documents.
How MapleExpense Helps
MapleExpense maintains a complete audit trail with timestamped receipt uploads, AI-verified categorization, and one-click export of all supporting documents.
Simplify Your Bookkeeping with MapleExpense
MapleExpense is free for 15 receipts a month. It codes each receipt to its CRA GIFI line for your T2 and tracks your GST/HST input tax credits. No credit card; paid plans from $4.99 CAD a month, plus GST/HST.
Start free — 15 receipts a month