Financial Section
The financial section allows users to add expenditures, employees, and company financials to generate forms needed for SR&ED filing.
Where to find it
- In the sidebar, click Expenses › Overview.
- The overview page gives a breakdown of what remains to be added for a SR&ED filing: employees, expenditures, and company financials.
We include a Categorizer feature to help users categorize their financials for SR&ED.
The Categorizer is found in the expenditures section. Click the "Need help categorizing" button on the top right to get directed to the Categorizer.
Before You Start
- Make sure the correct Tax Year appears in the top right header. Switch years if needed.
- All projects should be marked *Complete* or nearly finalized so you can allocate costs.
Employees & Subcontractors
- Click the Employees tile.
- Choose Import CSV to upload a payroll export or click Add Manually.
- For each employee, enter:
- Name (or initials)
- Job title / role
- SR&ED hours (%)
- Gross salary
- Hit Save; Shredy multiplies salary × SR&ED % to calculate eligible labour.
For invoiced-based contractors or consultants, we tally those in the expenditures section.
To learn more about eligible employees: See Eligible Expenses Guide
Materials
- Click on the Materials tab on the sidebar under Expenses.
- Input each project's financials.
- If you don't have the financials prepared, we offer a Categorizer to help label SR&ED eligible transactions. For more information on how to use the categorizer, click here.
- Third party expenditures at the bottom of the page are tracked for the entire tax year, for all projects.
- Input the percentage amount contributed by the company.
Company Financials
- Click on the Financials tab on the sidebar under Expenses.
- Enter your company's financial information for the tax year.
- This information is required for the T661 form and helps establish the financial context of your SR&ED claim.
The financial information should match what's reported on your corporate tax return. Having your financial statements or T2 return handy will make this step easier.
- Verify that all financial figures match your corporate tax filings
- Double-check that you're entering data for the correct tax year
- Ensure all required fields are completed to avoid delays in processing
Review Totals
- Return to the Financial Overview screen.
- Green checkmarks mean everything is complete.
Mark Financials Complete
Next Step → Optimize
Head to our Supplemental & Optimize guide to finish your claim and generate the PDF package.