May 15 Jazzit Fundamentals Update Available

Monday, May 15, 2017

*NEW SCHEDULE* FSLETTER – GENERIC LETTER

  • Added the ability to include a blank, generic letter into the financial statements (as an external document). This letter has the toolbox functionality of other generic letters and can be sorted anywhere below the engagement report

*NEW DOCUMENT* JZBKL - SAMPLE BOOKKEEPER LETTER

  • Added a new document to the fundamentals package which is a letter addressed to the client for bookkeeping duties performed

IS2 – 9 COLUMN INCOME STATEMENT

  • The 9 column Income Statement now supports percentage columns similar to the 2 column Income Statement

       Please note: This functionality is only available when using current year and prior year total columns

SC6 – 9 COLUMN INCOME STATEMENT WITH BUDGET SCHEDULE

  • The 9 column Income Statement with budget schedule now supports percentage columns similar to the 2 column Income Statement schedule

Please note: This functionality is only available when using current year and prior year total columns

JZLAMORT – LOAN CALCULATOR

  • Added the ability to set the number of decimals for interest rates

       Please note: If more than three decimal places are used on a rate higher than 9%, wrapping may occur

       This functionality also applies to the debt working papers, i.e. JZLNR, JZLT, LZCD, JZCPL

CA/CB/IA – AMORTIZATION WORKING PAPERS

  • Added subtotal functionality to each group in the working papers

CA/CB/IA – AMORTIZATION WORKING PAPERS

  • Added the ability to reset each group individually from the default in the Resource Center instead of reloading the entire working paper

MS – MARKETABLE SECURITIES WORKING PAPERS

  • Added the ability to indicate the maximum fair market value during the year for each specific foreign property held which is then summarized in the specified foreign property table

MS – MARKETABLE SECURITIES WORKING PAPERS

  • The marketable securities summary table now displays the total proceeds and gains/(losses) from each individual linked marketable securities working paper

CF/CF2 – CASH FLOW STATEMENTS

  • “Change in balance” lines have been made more visible by having a yellow background in the account number dropdown

JZDIAG & LETTER – DIAGNOSTICS REPORT AND LETTERS

  • Added the ability to include the client’s country in the address box of each letter (this should be set in the Resource Center JZDIAG document for firm wide implementation)

       This option is set in the Diagnostic report settings:

  • Unchecked – Country name can be set on/off in each individual letter
  • On – Country name is displayed in letters in the client file
  • Off – Country name is not displayed in letters in the client file

JZPCCA/JZPCCB/JZPCC/JZPCD/JZPCE – GENERIC CHECK LISTS

  • Added an express menu option to hide cells to the right of the description

JZUPDATE – RC UPDATE CONTROL

  • A warning has been built into Step 3 (Set the path to update directory) to check if the update installed is the same font style as that in the document

JZDR – INVESTMENT INCOME WORKING PAPER

  • Added a separate table on the working paper for T3 reconciliations. This includes standard (editable) box numbers in the column headings

Q1 – ADDITIONAL LETTERS

  • Added the wording cells for provinces (long and short) (automatically linked to Engagement Properties)
  • Added the wording cells for Net Income and Retained Earnings (entity specific wording applies automatically)
  • Added the wording cells for country (automatically linked to Engagement Properties)

SC – SCHEDULES MENU

  • Statement of Comprehensive Income - Added the ability to apply styles to section headings i.e. bold, italics and/or underline

KO – GENERIC TWO COLUMN NOTES

  • Added the ability to apply styles to section headings and subheadings i.e. bold, italics and/or underline
  • Express button functionality can now be accessed from anywhere in the row, not just through the express button on the right

KN – GENERIC AND SINGLE COLUMN NOTES

  • Added the ability to apply styles to section headings and subheadings i.e. bold, italics and/or underline
  • Generic Note KN55 – Added the ability to turn each section on or off individually
  • Express button functionality can now be accessed from anywhere in the row, not just through the express button on the right

KP – GENERIC THREE OR FOUR COLUMN NOTES

  • Added the ability to apply styles to section headings and subheadings i.e. bold, italics and/or underline
  • Added the ability to include subtotals within tables
  • Express button functionality can now be accessed from anywhere in the row, not just through the express button on the right

KD - MARKETABLE SECURITIES NOTE

  • Added the ability to apply styles to section headings and subheadings i.e. bold, italics and/or underline

KC – DUE TO (FROM) SHAREHOLDERS NOTE

  • Added the ability to adjust any of the shareholder lines for rounding

KB – CASH FLOWS NOTE

  • Changes in non-cash working capital: “Change in balance” lines have been made more visible by having a yellow background in the account number dropdown

FC- FINAL CHECKLIST

  • Dropdown for number of additional sections has been removed as each section can now be turned on/off individually
  • Express button functionality can now be accessed from anywhere in the row, not just through the express button on the right

I1 – CLIENT INVOICE

  • Express button functionality can now be accessed from anywhere in the row, not just through the express button on the right

KE – LONG TERM INVESTMENTS NOTE

  • Option 3 - Added the ability to apply styles to section headings and subheadings i.e. bold, italics and/or underline
  • Option 3 – Subtotals can now be included in the note
  • Option 3 – Sections can be turned on/off individually
  • Option 3 - Express button functionality can now be accessed from anywhere in the row, not just through the express button on the right

KU – JOINT VENTURE OPERATIONS

  • Added the ability to apply styles to section headings and subheadings i.e. bold, italics and/or underline
  • Subtotals can now be included in the note
  • Sections can be turned on/off individually
  • Express button functionality can now be accessed from anywhere in the row, not just through the express button on the right

M1 – COMPARATIVE GENERIC WORKING PAPER

  • Added the ability to reset each section individually from the default in the Resource Center instead of reloading the entire working paper
  • Subtotals can now be included in the working paper
  • Sections can be turned on/off individually

N1 – 5 YEAR GENERIC WORKING PAPER

  • Added the ability to reset each section individually from the default in the Resource Center instead of reloading the entire working paper
  • Subtotals can now be included in the working paper
  • Sections can be turned on/off individually

*NEW NOTE* KT – TAX AND OTHER GOVERNMENT REMITTANCES NOTE

  • INCOME TAXES – CASH BASIS  Added a new note (predominantly for farming activities) which allows the preparer to determine net taxable income for cash based activities.

       This note allows for the styling of section headings i.e. bold, italics and/or underline