How to organize GIFI categories and prepare records for your accountant
By Clear Bill · Published
Tax preparation is easier to start when your accountant can see what the numbers represent and trace them back to the records. Choosing consistent GIFI categories while you record invoices and expenses gives you a useful starting point for that handoff.
This guide shows how to organize the inputs, review a small coded summary, and send the supporting information with it. Clear Bill helps organize these records; it does not prepare or file tax returns.
What GIFI categories do
GIFI stands for General Index of Financial Information. CRA uses these codes to identify financial statement items reported with corporation and applicable partnership returns. A code gives an amount a standard label, such as sales or office expenses. See the CRA GIFI guide.
Not every freelancer needs a GIFI filing. If you operate as a sole proprietor, ask your accountant about the reporting format for your business. CRA describes Form T2125 as a way to report business or professional income and expenses with your personal income tax return. See CRA's T2125 guidance.
Agree on the categories before the backlog grows
Start with a short conversation or email to your accountant: which categories should you use for your regular sales and purchases, and which transactions should you flag for review? Keep that agreed list beside your bookkeeping process so similar transactions are handled consistently.
CRA's GIFI guide says to choose an exact match where available, then the most appropriate item, and use a generic item if no appropriate match exists. Your accountant can help apply that guidance to your records. A familiar label alone does not establish how a purchase should be treated for tax purposes.
For something uncertain, retain the receipt and write down what was purchased and how the business used it. Keep an external review list with the record reference and your question. That makes a useful question for your accountant, rather than an unexplained number to reconstruct later.
Enter and review GIFI categories in Clear Bill
In the invoice form, use Revenue Category (GIFI) to select the category for the invoice. In an expense, the Category selector displays a GIFI code and name. Review that choice alongside the description and supporting receipt. The current invoice form uses one revenue category for the invoice, so ask your accountant how to handle sales that need different classifications.
Then open Reports → GIFI Report. Choose the start and end dates agreed with your accountant and select Generate Report. For a whole-business review, leave Filter by Vendor empty; a vendor filter narrows the expense records included.
Check the period before interpreting the totals. The report displays amounts in CAD, uses invoice issue dates for revenue, and excludes drafts, void invoices and estimates. It is not a list of payments received. A sales amount can appear even when the related invoice has not been paid.
Look through each category and investigate unexpected totals or uncategorized records. Compare the summary with the underlying invoices and expenses before exporting. A neat-looking table can still be incomplete if records are missing or duplicated.
A small example: CAD100 of revenue and CAD20 of expenses
This fictional Clear Bill demonstration covers September 13, 2026 only, with no vendor filter. It contains one revenue record and one expense record, in CAD.
| Record group | GIFI code | Category | Amount (CAD) |
|---|---|---|---|
| Revenue | 8000 | Trade sales of goods and services | 100.00 |
| Expense | 8810 | Office expenses | 20.00 |
The difference is CAD80.00: 100.00 minus 20.00. That is an arithmetic comparison of the recorded amounts, not a calculation of taxable income. The expense in this example has zero tax; it does not illustrate which taxes apply to a real purchase.
Both category labels appear in the CRA GIFI guide. They illustrate the format, not a recommendation to put every sale or office-related purchase under these broad codes. More specific categories may suit your records.
Send context with the CSV
Use Export CSV after reviewing the report. The current GIFI screen export includes the end date, category codes, names and amounts. It exports expense subtotals. It does not include the report start date, currency, underlying receipts or a net-income row, so supply those details separately. Ask your accountant whether the format works for them; direct import into another program is not assured.
For a practical handoff, assemble:
- A cover note: business name, reporting period, CAD currency, any filters used, and whether the records cover the whole period.
- The coded summary: the reviewed CSV, with a clear filename identifying the business and period.
- Supporting records: invoices, receipts and the bank or payment records your accountant requests, with references that make them easy to match.
- An open-questions list: missing documents, uncertain categories, unpaid invoices and any adjustments you want reviewed.
Free accountant handoff worksheet
Download the free accountant handoff worksheet (fillable PDF, 2 pages).
Use it to record your business details, reporting period, currency, filters, included filenames, known gaps and questions for your accountant. No signup is required. Open the PDF in a reader that supports forms, fill it in and save a copy before sharing it with your supporting records.
Complete the worksheet manually. It does not change the exported CSV or confirm that your records are complete or reconciled.
The two-category example above is only part of that package. CRA expects financial statement information at the same level of detail as traditional statements, including balance sheet information where applicable. Your accountant still needs to review completeness, reconciliations, classification and adjustments. See CRA's guidance on preparing financial statements using GIFI.
Start with one reporting period
Choose a manageable period, agree on the categories, and ask your accountant to review the first handoff before repeating the process. If the records need tidying first, use our one-month bookkeeping guide.
To try the category-input and reporting workflow, start with Clear Bill. Keep the supporting documents and review questions alongside the summary so your accountant has the context needed for tax preparation.