November 25 Jazzit Fundamentals Update Available

Friday, November 25, 2016

*NEW DOCUMENT* JZDR – INVESTMENT INCOME

  • Added a new document which allows the practitioner to reconcile the dividends declared/paid between the financial statements and the T5 slips. Columns provided for the reconciliation of eligible dividends, Canadian sources, foreign sources and others

SC1/SC6 – 2/9 COLUMN INCOME STATEMENT SCHEDULES

  • Added the section settings (bold, uppercase, singular) to the SC1 and SC6 schedules

SC2/SC6 – GENERIC 9/9 COLUMN INCOME STATEMENT SCHEDULES

  • Schedules will now load current year and prior year total columns by default instead of column1 and column 2

K3A – SIGNIFICANT ACCOUNT POLICIES

  • Added the option in the Notes Menu to allow the user to indent paragraphs below their respective headings
    Please note: In order to access this functionality, policies must be updated as well as the NL – NOTES MENU module

TC – TABLE OF CONTENTS

  • Added the ability to control the Index page header independently from the rest of the financial statements. When set to ‘Home menu default’, spacing will be consistent with the rest of the headers in the financial statements. When set to inches, the header is independent of the rest of the financial statements and can be set a desired

JZUPDATE – RC UPDATE CONTROL

  • Added a button to direct the user to the relevant Snackbar for quick download of individual Resource Centre modules

EL – ENGAGEMENT LETTER

  • REVIEW - Added a dropdown to the ‘Form of Report’ section which allows the practitioner to set generic wording for year ends after December 2017

BS/BS2/BS3 – BALANCE SHEETS

  • Added the wording option ‘Liabilities to shareholders’ to the dropdown for amounts due to shareholders in the current and long term liabilities sections

MS – MARKETABLE SECURITIES WORKING PAPERS

  • Added a warning message if amount for Return of capital would reduce the capital cost to below zero

IS2 - 9 COLUMN INCOME STATEMENT

  • PARTNERSHIP AND NOT-FOR-PROFIT – Added the partner’s capital/fund contributions and drawings during the year as default lines to Format B (funds in columns) and Format C (3 funds max)

DEBT NOTES AND MARKETABLE SECURITIES

  • Added the option for subheadings and subtotals in the following notes:

o K5 – Long term debt (linked to TB and linked to WP)
o K9 – Loans and notes receivable (linked to TB and linked to WP)
o KG – Short term and callable debt (linked to TB and linked to WP)
o KV – Obligations under capital lease (linked to TB and linked to WP)
o MS – Marketable securities (default, linked to WP and option 2)

MS – MARKETABLE SECURITIES

  • When using a foreign currency, the working paper now shows the amounts for realized and unrealized gains and losses on foreign exchange at year end