Time is money in the tax business. That's why we're so pleased to announce that we're working with PaymentEvolution to provide drag-and-drop import of T4 slips created by the PaymentEvolution online payroll service.
“Modern accountants need modern tools that simplify their client workflow. TaxCycle is an essential part of that workflow and importing employee T4 slips will help you achieve a true paperless tax office,”
- Sam Vassa, CEO and co-founder of PaymentEvolution
PaymentEvolution is Canada's largest and most loved cloud payroll and payments service. It provides easy to use, secure online payroll services to small and mid-sized businesses across Canada. Businesses and accountants can sign up for a free trial PaymentEvolution Payroll account at http://www.paymentevolution.com.
Increase accuracy by reducing data entry
Reducing data re-entry is critical to running an efficient, profitable tax practice. PaymentEvolution already offers electronic delivery of T4 slips to employees. Now these employees can provide that electronic file to you. You simply drag the file in the T1 return to complete their T4 slips. There's no need to print the slip, so there’s no data re-entry.
Data integration like this is especially important for busy preparers during tax season. A quick export of an XML file for drag-and-drop import into a TaxCycle T1 return not only saves precious time but prevents critical data re-entry errors. Every minute a tax preparer spends on data entry, or reviewing re-entered data, is one that could have been spent providing tax expertise to your clients.
When is it coming?
The PaymentEvolution T4 import will be available in early 2015 for preparing 2014 T1 personal tax returns. TaxCycle users will be able to drag and drop XML files onto the TaxCycle window to quickly add the slip data to the personal tax return.
See the press release announcement here: Drag-and-drop import of PaymentEvolution T4 slips into TaxCycle T1 personal tax returns