GIFI Codes by Range, With the Most Used Codes

The General Index of Financial Information (GIFI) is CRA's four-digit coding system for the balance sheet and income statement a corporation files with its T2.

Federal · Updated September 23, 2026

Definition

The General Index of Financial Information (GIFI) is CRA's standard list of four-digit items used to collect balance sheet, income statement and retained earnings data from corporations and partnerships. Financial statement information has to be included when a corporation files a T2, and corporations generally report it with the GIFI, subject to CRA's exceptions, on Schedule 100 for the balance sheet, Schedule 125 for the income statement, and Schedule 141 for the additional information about who prepared the statements.

GIFI is not a chart of accounts. It is a reporting language that sits on top of the chart of accounts a business already uses. The GIFI replaces the traditional statements for this reporting purpose, but applicable notes and accountant's reports still need to be included as CRA directs.

GIFI codes by range

Each band has its own reference entry with the full picture of what belongs there.

Range	What it covers	The items people look up most	Full entry
1000-2599	Assets, ending at the total	1001 Cash, 1060 Accounts receivable, 1061 Allowance for doubtful accounts, 1484 Prepaid expenses, 1600 Land, 1680 Buildings, 1740 Machinery, equipment, furniture, and fixtures, 1742 Motor vehicles, 1774 Computer equipment/software, 2018 Incorporation costs, 2599 Total assets	GIFI asset accounts
2600-3499	Liabilities, ending at the total	2600 Bank overdraft, 2620 Amounts payable and accrued liabilities, 2680 Taxes payable, 2770 Deferred income, 2780 Due to shareholder(s)/director(s), 2920 Current portion of long-term liability, 3139 Total current liabilities, 3140 Long-term debt, 3260 Due to shareholder(s)/director(s), 3499 Total liabilities	GIFI liability accounts
3500-3849	Shareholder equity, then the retained earnings continuity	3500 Common shares, 3520 Preferred shares, 3541 Contributed surplus, 3600 Retained earnings/deficit, 3620 Total shareholder equity, 3640 Total liabilities and shareholder equity, 3660 Retained earnings/deficit Start, 3680 Net income/loss, 3700 Dividends declared, 3849 Retained earnings/deficit End	GIFI equity accounts
7000-7020, totalled at 9998	Other comprehensive income	7000 Revaluation surplus, 7002 Defined benefit gains/losses, 7004 Foreign operation translation gains/losses, 7010 Income tax relating to components of other comprehensive income, 9998 Total other comprehensive income	GIFI income and expense codes
8000-9999	The income statement, ending at net income	8000 Trade sales of goods and services, 8299 Total revenue, 8518 Cost of sales, 8519 Gross profit/loss, 8523 Meals and entertainment, 8710 Interest and bank charges, 8810 Office expenses, 8860 Professional fees, 9060 Salaries and wages, 9281 Vehicle expenses, 9367 Total operating expenses, 9368 Total expenses, 9999 Net income/loss after taxes and extraordinary items	GIFI income and expense codes

Two bands inside those ranges are easy to miss. Items 9370 to 9899 are reserved for farming revenue and expenses, so a non-farming corporation never touches them. Items 9975 to 9999 hold extraordinary items and income taxes, including 9990 Current income taxes and 9995 Future (deferred) income tax provision.

Key rules

Financial statement information has to be included with a T2, and corporations generally report it with the GIFI, subject to CRA's exceptions. An inactive corporation that still has balance sheet or income statement information to report can use the GIFI for it.
Pick the item that matches your financial statement line exactly. If there is no exact match, pick the closest one. If there is still no good fit, use the generic item highlighted at the start of the block, such as 1000 Cash and deposits or 8760 Business taxes, licences, and memberships. A generic item is not the total of the block beneath it.
When one line on your statements combines two GIFI items, report it under the item that covers the larger amount. "Cash and term deposits" where cash is the larger amount goes to item 1001.
Distinguish ledger postings from return totals: report required GIFI totals, even when software calculates them. Do not use a total as a transaction category.
Report amounts in actual dollars: no cents, and not in thousands or millions. Mark negative amounts with brackets or a minus sign, which is how accumulated amortization and allowance items are entered.
Use the same item year over year so the comparative columns reconcile. Remap an account only when what it holds genuinely changes.
Certain items have to be reported even when they are nil, so that CRA can check the arithmetic: 2599 Total assets, 3499 Total liabilities, 3620 Total shareholder equity, 8299 Total revenue, 9368 Total expenses, 9999 Net income/loss after taxes and extraordinary items, and 3849 when the retained earnings breakdown is reported. Enter 0 rather than leaving them blank.

A corporation that does not use return preparation software, and has gross revenue and assets each under one million dollars, can report on Form T1178, the GIFI-Short, instead of the full Schedule 100 and Schedule 125. It offers about 100 commonly used items. This does not override mandatory electronic filing for most tax years starting after 2023. See GIFI-Short (T1178).

Example

A BC consulting corporation keeps three ledger accounts for fees it pays to outside advisers: "Legal fees", "Accounting fees" and "Bookkeeping fees". The GIFI has an item for each kind of work, and bookkeeping sits with accounting. Inside the bookkeeping system the accounts stay separate for management reporting; on Schedule 125 the mapping should preserve the detail shown in the financial statements.

Ledger account	GIFI item	GIFI name	Schedule
Chequing account	1001	Cash	Schedule 100
Accounts receivable	1060	Accounts receivable	Schedule 100
Prepaid insurance	1484	Prepaid expenses	Schedule 100
Accounts payable	2620	Amounts payable and accrued liabilities	Schedule 100
GST/HST payable	2680	Taxes payable	Schedule 100
Share capital, common	3500	Common shares	Schedule 100
Consulting revenue	8000	Trade sales of goods and services	Schedule 125
Legal fees	8861	Legal fees	Schedule 125
Accounting fees	8862	Accounting fees	Schedule 125
Bookkeeping fees	8862	Accounting fees	Schedule 125
Office supplies	8811	Office stationery and supplies	Schedule 125
Salaries and wages	9060	Salaries and wages	Schedule 125

Common mistakes

Using a total item instead of the applicable detail, or leaving out a required total.
Treating a generic item as a subtotal. The item in bold at the top of a block, like 8760 or 8860, is where an amount goes when nothing more specific fits. It does not add up the items below it.
Using the GIFI as the live chart of accounts. It is too coarse for day to day bookkeeping. Keep a richer internal chart and map to the GIFI at year-end.
Changing the mapping each year, which breaks the comparative columns on the T2.
Leaving the opening balance sheet out in the first year after incorporation. A first-year filer completes two balance sheets, opening and closing, and the opening one goes on Schedule 101.
Skipping Schedule 141, the GIFI additional information, which is where CRA asks who prepared the financial statements and whether they expressed a reservation.

Each range has its own reference entry: assets, liabilities, equity, and income and expense. The GIFI feeds Schedule 100 and Schedule 125, which together carry the financial statement information on the T2 corporate return.

Sources

Canada Revenue Agency Guide RC4088, General Index of Financial Information (GIFI)
Canada Revenue Agency Guide T4012, T2 Corporation Income Tax Guide
Income Tax Act s.230

Related entries

GIFI-Short (T1178)
T1178 is a paper GIFI package with eligibility conditions; the under-$1-million tests do not exempt a corporation from mandatory electronic filing.

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