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Within the Journal section of ubudget, you have the ability to add categories.  By default no categories are provided for you, which allows you to setup a fully customized solution for yourself and your company, but we do have some categories for you to consider.  The following list of categories were taken from the Statement of Business or Professional Activities (T2125) document provided by the CRA.

  • Advertising (8521)
  • Meals and entertainment (8523)
  • Bad debts (8590)
  • Insurance (8690)
  • Interest (8710)
  • Business tax, fees, licences, dues, memberships and subscriptions (8760)
  • Office expenses (8810)
  • Supplies (8811)
  • Legal, accounting, and other professional fees (8860)
  • Management and administration fees (8871)
  • Rent (8910)
  • Maintenance and repairs (8960)
  • Salaries, wages, and benefits (9060)
  • Property taxes (9180)
  • Travel – including transportation fees, accommodations, and allowable part of meals (9200)
  • Telephone and utilities (9220)
  • Fuel costs – except for motor vehicles (9224)
  • Delivery, freight, and express (9275)
  • Motor vehicle expenses – not including CCA (9281)
  • Allowance on eligible capital property (9935)
  • Capital cost allowance [CCA] (9936)
  • Other expenses (9270)
  • Heat (BUoHE)
  • Electricity (BUoHE)
  • Insurance (BUoHE)
  • Maintenance (BUoHE)
  • Mortgage interest (BUoHE)
  • Property taxes [Rent] (BUoHE)
  • Other expenses [eg. Water] (BUoHE)

The BUoHE stands for business-use-of-home expenses, which resolves to page 3/5 of the T2125 form, where only a portion of the expense can be deducted from your net income.  All other items in the list were derived from page 2/5 of the T2125 form, under Part 5 – Net income (loss) before adjustments.

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