yplux maps every transaction to a category that corresponds directly to a line on the T2125 — Statement of Business or Professional Activities. This makes it straightforward to transfer your totals to the CRA form at tax time.

Tip: When you record a transaction in yplux, choose the category that best describes it. The CRA line number shown here is where that amount will appear on your T2125. If nothing fits, use Other income (line 8230) or Other expenses (line 9270) and keep a note for your records.

Income categories

Income on the T2125 is reported in Part 3. Business income (sales, commissions, fees) goes into Part 3A; professional income (fees for professional services) goes into Part 3B. Other amounts such as grants and government assistance are reported on line 8230 in Part 3C.

CategoryT2125 linePart
Gross sales3APart 3A — Business income
Commissions3APart 3A — Business income
Professional fees3HPart 3B — Professional income
Consulting / Services3HPart 3B — Professional income
Government assistance / subsidies8230Part 3C — Other income
Grants8230Part 3C — Other income
Other income8230Part 3C — Other income

Note: Rental income and investment income are not included here — they belong on separate CRA forms (T776 and T5 respectively) and should not be reported on your T2125.

Expense categories

Expenses are reported in Part 4 of the T2125. Each category below maps to a specific CRA line. Enter only the business portion of each expense — personal amounts are not deductible.

CategoryT2125 line
Advertising8520
Meals and entertainment (50%)8523
Bad debts8590
Insurance8690
Interest8710
Business taxes, licences, memberships8760
Office expenses8810
Software / subscriptions8810
Professional fees8860
Management and administration fees8871
Delivery, freight, express8870
Maintenance and repairs8960
Rent8910
Salaries, wages, benefits9060
Travel9200
Telephone and utilities9220
Fuel costs9224
Motor vehicle expenses9281
Other expenses9270

For more detail on each line, see the CRA guide to completing Form T2125.