January 16 Jazzit Fundamentals Update Available

Monday, January 16, 2017

FINANCIAL STATEMENTS

  • Introduced the ability to set each individual lines in the header of the financial statements to either Bold, UPPERCASE or Italics (or any combination thereof) from the Firm Profile (RD) for enhanced customization of the firms templates

*PLEASE NOTE: In order to take advantage of this functionality you will need to update each report, statement and schedule in your financial statement. You may also be required to reload your Headers and Footers in the financial statements.

If you are not using the default financial statement headings format and would like to use these new options please contact our support department in order to receive an updated Firm Profile (RD).

CP, NL, NOTES – HOME MENU, NOTES MENU, NOTES

  • Introduced new diagnostics indicators to display when there are updates available in the Resource Centre for notes and policies in the current financial statements. The details will be explained below:

CP – HOME MENU

  • The Home Menu has a new diagnostic line under the Admin panel indicating that there are updates available for notes and polices in the financial statements. Clicking on the “Note/policy updates available” button will display a dialog box with how many notes and policies are available for update and jump you to the top of the Notes section
    *PLEASE NOTE: The “Complete all Admin updates” does NOT update the notes in the financial statements

NOTES

  • Notes which have updates available from the Resource Centre will now be “flagged” with a small asterisks in the Document Map for notes updated after January 16, 2017.
    *PLEASE NOTE: These asterisks will NOT appear in your financial statements when printed

NOTES MENU

  • The Notes Menu has the functionality to turn the flag indicator in the Document Map on or off
    *PLEASE NOTE: This line will only display if there are notes newer than January 16, 2017 with available updates in the financial statements

CP – HOME MENU

  • Introduced a new diagnostic which indicates that there are updates available to the financial statements. Clicking on this diagnostic will open the Admin panel of the Home Menu to display which statements have updates available

  • The support button now has a direct link to start a GoToAssist (Fastsupport.com) meeting in the dropdown

EL – ENGAGEMENT LETTER

  • Introduced the ability to update each section individually from the Resource Centre using the right-click express button functionality for the desired section
  • Also introduced the ability to switch each individual section on or off using checkboxes . The option to display these checkboxes can be found under the Letter Options

JZL1 – LETTER TO THE LAWYER

  • Introduced the same functionality as the Engagement Letter above

RL – CLIENT REPRESENTATION LETTER

  • Introduced the same functionality as the Engagement Letter above

PE – PREPAID EXPENSES

  • Introduced the ability to switch each individual section on or off using checkboxes (as shown in Engagement Letter above) and the ability to sort each individual line within a table using the right-click express button functionality

DI – DEFERRED INCOME

  • Introduced the ability to switch each individual section on or off using checkboxes (as shown in Engagement Letter above) and the ability to sort each individual line within a table using the right-click express button functionality

CL – CLIENT ENCLOSURE LETTER

  • The “Provincial corporate tax” paragraph now has province specific wording for Alberta and Quebec when referring to the “Minister of Finance
    • Alberta – “Government of Alberta”
    • Quebec – “Minister of Revenue of Quebec”
  • The “Federal corporate tax” and “Provincial corporate tax” paragraphs now indicate the amount payable to the relevant authority (previously only displayed an amount if a refund was due)

JZ5YRIS – FIVE PERIOD INCOME STATEMENT WITH % WORKING PAPER

  • Introduced the ability to adjust section headings with the bold, uppercase and singular settings

JZAL – ACCRUED LIABILITIES WORKING PAPER

  • Introduced the option to display a prior year comparative total for each section. These totals are manually entered the first year of using the working paper but amounts automatically roll forward in subsequent years

K7 – SHARE CAPITAL

  • DEFAULT: Introduced the ability to individually select/deselect share transaction tables and sort the order

IS/IS2 – 2 AND 9 COLUMN INCOME STATEMENT

  • Added the ability to bold and uppercase the “Net Income” line in the Statement of Retained Earnings/Partner’s Capital/Proprietor’s Capital/Changes in Net Assets

BS/BS2/BS3 – 2 AND 9 COLUMN BALANCE SHEET AND BALANCE SHEET WITH OPENING

  • The ability to display the wording “Fund Balances” in the financial statements for Not for Profits has been moved to the Home Menu. Now when selecting Not for Profit, the option for displaying either Net Assets or Fund Balances on statement headings and line descriptions will appear. This allows the user to display the Balance Sheet as “Statement of Financial Position” while showing the “Statement of Changes in Fund Balances” (the Balance Sheet can be set to display ‘Fund Balances’ separately by double clicking on the statement name)