SRED Credit Tracking in NAV


I’m a relatively new NAV user and have been tasked with effectively tracking SRED credits at my company. This will be familiar to Canadian users, but for others, SRED (Scientific Research & Experimental Development) is a federal government program providing tax breaks and exemptions for specific expenses and investments. The goal is to bolster innovation and the official site is available here. The wiki is available here.

Since some of these expenses are not allocated to a specific G/L account, there are some questions arising about how we can identify these expenses as they occur rather than auditing absolutely everything at month end. We’re a company moving from R&D into production so differentiating these expenses will become more complex at an accelerating rate.

If anyone has had to track expenses for SRED credits or some similar program, I would love to learn about how you proceeded to do so. In particular, did you find that using dimensions was helpful?

Best Regards,
Dave Macdonald