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News > TaxCycle version 7.0.32343.0—T2125 Smart Copy/Paste, take snapshot on printing, track review marks, overrides and sign offs

TaxCycle version 7.0.32343.0—T2125 Smart Copy/Paste, take snapshot on printing, track review marks, overrides and sign offs


This release adds great new features to TaxCycle: Smart Copy/Paste of T2125 business statements; the option to take a snapshot when printing; and a way to track review marks, overrides and sign offs.

This version is available as an automatic update, as a full download from our website, and a free trial

Who should install this release?

Please update to this release to get familiar with the latest new features in TaxCycle.

Release highlights

  • New!—T2125 Smart Copy/Paste
  • New!—Take snapshot on printing
  • New!—Track review marks, overrides and sign offs
  • DT Max® carryforward
  • Magic folder options enhancements
  • Optimizations documentation enhancements
  • TaxCycle T2 changes
  • RC59 updates
  • Client Manager fixes

New!—T2125 Smart Copy/Paste

This release adds Smart Copy/Paste of the T2125 to TaxCycle T1 2016 and 2017. Use Smart Copy/Paste to share information on a form between two files. For example, to copy a T2125 business statement from one person's return to a different file for the business partner.

  1. Prepare theT2125 Statement of Business or Professional Activities in the first T1 return.
  2. With the form open, go to the Home tab, click Smart Copy, and then click Copy T2125, or press Ctrl+Shift+C.
  3. You can also right-click on the form and select Smart Copy.
  4. Go to the T2125 form in the other file.
  5. Go to the Home tab and click Paste, right-click on the form and select Paste, or press Ctrl+V. This pastes the information to the second T2125 business statement and adjusts the partnership share to correctly allocate the net income.

New!—Take snapshot on printing

You can now choose to take a snapshot when printing a print set or form. The new Take snapshot menu appears on the printer and output options for print sets and single-form print. To learn more about printer and output options, read the Print/PDF options help topic. To learn about the different types of snapshots you can create, read the Snapshots and variance help topic

take-snapshot-on-print

New!—Track review marks, overrides and sign offs

TaxCycle now tracks the time and person when someone applies a review mark or override to a field, and when someone signs off on an override, field or message. To view the events:

  1. Hover the message in the Review sidebar; or
  2. Go to the File menu, click on Info, then click on History.

Track sign offs, overrides, review marks

DT Max® carryforward

Remember, to see the DT Max® carryforward buttons, you must enable them under options. To learn how to do this, please read the DT Max® carryforward help topic.

  • You can now carry forward files DT Max® T1 2016 to TaxCycle T1 2017.
  • The DT Max® T2 carryforward also works. (Please be aware this carryforward is limited by the data that is exported from DT Max® T2 and is not as comprehensive as our other competitor carryforwards.)
  • The DT Max® carryforward button now also appears under prior-year modules, where available:
    DTMax carryforward button under prior year

Magic folder options enhancements

Based on feedback we've received, this release includes the following changes to magic folder options:

  • Double spaces in folder names are now supported.
  • The following new variables have also been added:
    • {ModuleYearShort}—Two-digit module year. 
    • {ReturnYearShort}—Two-digit return year. 
    • {SuggestedFileName}—Folder structure based on the suggested file name of a return. This includes the spouse's first and last name if relevant. 

To learn about magic folder options, read the Folder options help topic. or watch the video recording of the recent Magic folder options webinar.

Optimizations documentation enhancements

The help topic that explains the options for optimizing T1 tax returns has been enhanced. Please review the "Optimization goals" section in the T1 Optimizations help topic.

TaxCycle T2 changes

  • S566 in 2017 T2—The number tags now appear in section 7, for lines 704, 708, 716, 718, 717 and 709. If you previously filed a T2 return with the S566, you can wait for a revised assessment from the CRA. Or, open the file and TaxCycle will alert you if an amendment is required.
  • CDA Prior year WS—The last three pages of the worksheet now print when a date is entered on the last page. Previously, these pages were on-screen only.
    Date field on CDA prior-year worksheet
  • S89, column 110—When an amount of Allowable Business Investment Loss (ABIL) was entered as a negative amount in CDA Prior Year Worksheet, TaxCycle was incorrectly showing the amount as a positive amount in the S89 table. This has been corrected so that the amount now shows up as a negative amount.
    Fix to CDA bug

RC59 updates

In version 7.0.32184.0, released on September 15th, we implemented the new RC59 and RC59X forms. As a reminder, be aware that they now only allow for authorizing phone or mail access or cancelling an authorization. The CRA no longer accepts the old RC59 to authorize online access. Authorizing online access to a representative for a business account must now be done online in Represent a Client.

This release updates the RC59 form in the 2017 modules of T1, T2, T3 and T5013 to the latest that the CRA released in late September. Changes include:

  • The title changed from Business Consent to Business consent for access by telephone and mail.
  • All URLs on the form changed from cra.gc.ca to canada.ca.

Client Manager fixes

  • This release fixes an exception that occurred when scrolling through search results.
  • The Client Manager has improved error handling when indexing VisualTax files. This prevents the index from appearing to hang under certain conditions.

 

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