Audit backup
For many organizations, having an audit of their employee expense reports and corporate credit card statements conducted by either the Canada Revenue Agency or Revenu Quebec can be challenging in terms of time spent to handle the audit, as well as assessments to pay due to an out-of-date expense report/corporate credit card system that is not aligned with the new developments regarding GST/HST and QST (see our page “Exact Method Versus Factors Method”).
Advataxes is designed so that each expense report and each corporate credit card statement will include a full backup in a single PDF document.
The audit trail backup includes:
- All details of the expense report, such as the expense date, the supplier name, the tip amount, KM reimbursed, the trip details, the foreign currency conversion, the foreign currency rate, the GST/HST to claim, QST to claim and the employee's comment
- The accounting posting as configured as per your chart of accounts
- All images of all receipts for that report or that credit card statement
As an example, if an expense report is made of 60 invoices, Advataxes will generate in a single PDF document that includes: the details of that report, your accounting posting and all 60 images for that report.
You can view an example in this video:
Our objective is that you encounter a smooth tax audit of your expense report and credit card statements; no headache in terms of time spent on managing an audit and no substantial tax assessment while not leaving tax refunds behind.
Do some of your employes also need an audit trail to justify what proportion of a vehicle, that is made available to them, that is used for business purposes? Visit our page “Kilometer log” for further details.