How to import a GIFI file
To import GIFI into a return:
- Open or carry forward a T2 or T5013 return in TaxCycle.
- Go to the Data menu.
- Click on GIFI Import.
- Browse to the file you want to import.
- Click Open.
You can also drag and drop the GIFI file onto the TaxCycle window to import.
TaxCycle imports the GIFI codes and related balances to the correct lines on the GIFI schedules (S100, S101, and S125) and into the Info worksheet (if that information is included in the file, but we'll never overwrite the company name and business number you've carried forward). If there are notes to the financial statements included in the GIFI export, these are inserted onto the Notes page in TaxCycle.
Forms that contain imported values have an orange starburst on the form icon.
You can update the GIFI values in the tax return at any time by reimporting a GIFI file using the same steps as above. TaxCycle will remember where you last imported a GIFI from, so it is easy to find the file again.