Find Us

  (519) 763-2268

  (519) 843-1050

Guelph Office: 30 Norwich Street East - Guelph, ON - N1H 2G6

Fergus Office: 265 Bridge Street, Unit #3 - Fergus, ON - N1M 1T7

Audit-Proofing: How and Why?

One of our clients’ favourite features of online bookkeeping is the ability to audit proof their records. You have heard us mention this before, but likely are wondering what this means.

There are a couple of ways in which you can set-up your online bookkeeping system to audit proof.

When we talk about audit proofing what we are referring to is the ability to attach your invoices and receipts directly to the recorded expense in your accounting application. Now that CRA is accepting its desk audits/reviews through its online portal, this is a great feature to have. When you are asked to provide support for an account or for HST purposes for example, you can go directly into the entry and the pdf you need will be right there.

How do you get the pdf into your file? There are a few different ways. You can manually upload the pdf to the entry from your computer, you can use the QuickBooks app on your phone to take a picture of the receipt at the time of entry or you can use an application such as Dext to take a picture of the receipt and make the entry later.

We personally recommend using Dext and here’s why.

When you take a photo of your receipt through QuickBooks, you are also responsible to code and create the entry in QuickBooks. This puts the entire onus on you. With Dext, you have the flexibility to take the picture of your receipt, email or upload to your Dext account and leave the entry for someone else. This then allows for the flexibility of having your staff  also take pictures of their receipts and email them to Dext. How many times do you, or your team, lose receipts only to either never find them, find them later disintegrated or faded, or after your tax return has been filed?

Are you running out of space for storing your paper copies of your information? In that case, you should know that Dext also acts as your filing system. As your invoices, statements and receipts are pulled into your Dext account and pushed to your QuickBooks Online account, Dext will file them into folders so that you can easily find a receipt/statement at a later point in time.

There are many other features that we love about Dext. To learn more about how this may be a fit for you, reach out to us today.