Accounting glossary
What is GIFI?
The General Index of Financial Information — the CRA's standard account codes that corporate financial statements must be mapped to for the T2 return. Every account in your chart needs a GIFI code; the mapping is tedious exactly once per account, forever, unless software keeps it.
Example
Your 'Accounts Receivable (A/R)' account maps to GIFI code 1060, which the CRA calls 'Accounts receivable'. Your 'Accumulated depreciation' account maps to 1741.
The mapping is what lets a T2 be filed from your own chart rather than from a re-keyed summary of it.
In SeroBooks
GIFI codes suggested per account, bulk-accepted or overridden, kept current. T2 & GIFI →
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