QuickBooks Period Copy for CRA Audit: What Data Is Included and What Is Removed?
If you are preparing QuickBooks records for a CRA audit, you may not want to send or work with your entire company file. A QuickBooks Period Copy can create a condensed version of a QuickBooks Desktop company file containing data for a specific date range. But there is an important point: a Period Copy is not the same thing as a CRA-approved audit file . The Canada Revenue Agency requires businesses to maintain reliable and complete records, supporting documents, and electronic records that can be accessed when requested. So, a Period Copy can be useful for organizing or reviewing a particular audit period, but you should not assume that everything outside the selected period is safe to discard. What Is a QuickBooks Period Copy? A QuickBooks Period Copy is a condensed version of a QuickBooks company file that contains data for a specific period. In QuickBooks Desktop, the Period Copy process is associated with the Condense Data utility. QuickBooks describes a period...