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If your company claims SR&ED tax credits, the claim is only as good as the records behind it. We set up your books and timesheets so SR&ED costs are tracked as you go, clean up past-year records, and file your T2 with the claim. We also prepare the whole SR&ED claim end to end, including the T661 technical narrative, Schedule 31 and the expenditure figures, so the numbers hold up.
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- SR&ED-ready books in QuickBooks Online or Xero
- Timesheets set up to capture SR&ED hours by project
- Past-year records cleaned up for the claim
- T2 filed with the claim, reviewed by a CPA
- End-to-end SR&ED claims, T661 narrative included; we reply within one business day
- 24/7 receptionist, a real person answers; in person at our Etobicoke office
By project
costs tracked as you go
T2 + claim
filed together
1 business day
reply time
5.0
Google rating
End to end, or alongside your consultant
Looking for SR&ED credit rates, deadlines and how a claim works? See our SR&ED tax credits page, with federal, Ontario and every other province's credits. This page is about the books, timesheets and records behind a claim. Software or SaaS company? See SR&ED for software companies.
T-Ledgers prepares end-to-end SR&ED claims including the T661. We work with your technical team to identify eligible work and write the T661 technical narrative, prepare Schedule 31 and the expenditure figures, keep SR&ED-ready books that support them, and file the T2 the claim goes on. If you already have an SR&ED consultant, we can work alongside them instead. Pricing depends on the claim and is quoted after a free consultation.
← Swipe to compare →
| T-Ledgers, end to end BEST VALUE | If you already have an SR&ED consultant | |
|---|---|---|
| SR&ED-ready bookkeeping (project tracking, classes or tags) | ✓Included | We keep the books either way |
| Timesheet setup so staff log SR&ED hours | ✓Included | We set it up and share it with them |
| Cleaning up past-year records for a claim | ✓Included | We prepare the records they need |
| Eligibility review and identifying eligible projects | ✓Included | We can work alongside them |
| Writing the technical narrative and Form T661 | ✓Included, written by us with your team | We can work alongside them, or take over the claim |
| Schedule 31 and the expenditure figures | ✓Included | We prepare them to match their T661 |
| T2 corporate return with the claim included | ✓Included | Included |
| Matching the claim to the books and the T2 | ✓Included | Included |
| CRA review support | ✓Included, technical and financial | We answer the financial side |
| Price | Quoted after consultation. Book a free consult | Quoted after consultation |
What's included
- SR&ED-ready bookkeeping. Projects, classes or tracking categories in QuickBooks Online or Xero, so wages, materials and contractor costs are tagged to each project as they’re entered. Receipts come in through Dext.
- Timesheet setup. A simple timesheet process so employees log hours by project every week, not reconstructed at year-end. We tie those hours to payroll.
- Past-year record clean-up. If you’re claiming for a year that’s already closed, we sort through payroll, invoices and contractor bills and pull together what the claim needs.
- Payroll that supports the claim. SR&ED salaries are often the largest part of a claim. Our payroll service keeps them clean and matched to timesheets.
- T2 with the claim. We prepare your T2 corporate return with your T661, Schedule 31 and the expenditure figures, and make sure everything agrees with your financial statements. A CPA reviews it before filing.
- CRA reviews. If the CRA reviews the claim, we support you on both the technical and the financial side. If you have your own consultant, we answer the financial side alongside them.
Why the books matter
The CRA expects SR&ED costs to be supported by records made at the time the work happened: timesheets, payroll records, invoices and project notes. When the books don’t track projects, costs have to be rebuilt after the fact, which takes longer, costs more and is harder to defend. CRA guidance on supporting documents is in the SR&ED program overview.
← Swipe to compare →
| Books not set up for SR&ED | SR&ED-ready books with T-Ledgers BEST VALUE | |
|---|---|---|
| Finding SR&ED wages | Rebuilt from memory and emails | Pulled from timesheets by project |
| Materials and contractor costs | Mixed in with everything else | Tagged to the project as they're entered |
| Time on the claim | Spent chasing numbers | Spent on the narrative and the claim itself |
| CRA review | Stressful, with gaps | Records ready to hand over |
| Filing the T2 | Rushed against the deadline | Planned around the claim |
Timing
Your T661 and the related schedules are due no later than 12 months after the T2 filing due date for the year, which for most corporations is 18 months after year-end. Miss it and the claim is lost for that year. We plan your year-end, the claim and your T2 around that date. (CRA: SR&ED filing requirements)
How it works
1. Book a call. Tell us about your projects, your team and your records. If you already have an SR&ED consultant, tell us that too.
2. We set up the books and timesheets. Projects, tracking categories and a weekly timesheet routine.
3. Monthly bookkeeping. Costs are tagged to projects as they come in, and reviewed by a CPA.
4. Year-end. We write the T661 technical narrative with your team, prepare Schedule 31 and the expenditure figures, and file the T2 with the claim.
Who this is for
Software and SaaS companies, manufacturers, food and product developers, engineering firms, and any Canadian-controlled private corporation doing technical work to overcome uncertainty. If you’re not sure whether your work qualifies, our eligibility review will tell you. We’ll make sure your records are ready either way.
Meet your CPA
Wajahat Ajmal, CPA, FCCA leads T-Ledgers. Our team keeps the books, and a CPA reviews every T2 we file. On SR&ED files, we prepare the claim end to end so the claim and the return agree. Verify CPA membership.
Related services: bookkeeping · catch-up bookkeeping (from $1,800 per year) · corporate tax · payroll · virtual CFO
Frequently asked questions
Do you prepare SR&ED claims?
Yes, end to end. We review eligibility, write the T661 technical narrative with your team, and prepare Schedule 31 and the expenditure figures. We also keep SR&ED-ready books, set up timesheets, clean up past-year records and file the T2 with the claim, so the numbers behind it are supported. For credit rates and deadlines, see our SR&ED tax credits page.
What are SR&ED-ready books?
Books where wages, materials and contractor costs are tagged to each project as they’re recorded, in QuickBooks Online or Xero, and tied to employee timesheets. That way SR&ED costs can be pulled straight from the records for the claim.
Why do I need timesheets for SR&ED?
Salaries are usually the biggest part of a claim, and the CRA expects hours to be supported by records made at the time. A weekly timesheet by project is the simplest way to support them.
Can you help with a claim for a past year?
Yes. We clean up payroll, invoices and contractor records for closed years and prepare the claim, as long as the claim is still within the filing deadline.
When is the SR&ED claim due?
The T661 and related schedules must be filed no later than 12 months after the T2 filing due date for the year, which for most corporations is 18 months after year-end.
Do you work with my existing SR&ED consultant?
Yes. We prepare claims end to end, but if you already have a consultant, we can work alongside them so the claim, the books and the T2 agree.
Is my work eligible for SR&ED?
We assess eligibility as the first step of every claim, with your technical lead, and make sure your records support it.
How do I get started?
Book a free 30-minute call or phone (866) 254-5368. It’s a 24/7 receptionist, a real person answers, and we reply within one business day.
Ready to get started?
Call (866) 254-5368. 24/7 receptionist, a real person answers.