RESOLVED: T2 S100 Out-of-balance Review Message

We have discovered an issue in version 10.0.41290.0 of TaxCycle T2, where a review message incorrectly appears on Schedule 100 warning that total assets is not equal to the total liabilities and shareholder equity, and prevents electronic filing of the T2 return.

This issue occurs after importing a .GFI file that contains values with cents because TaxCycle does not round up the cents to the nearest dollar. TaxCycle imports the values with cents to GIFI Schedules 100 and 125. While the amounts on screen may appear balanced, the values in the background are not, triggering the review message.

Workaround

To manually trigger rounding on the imported values in the background and resolve the review message:

1. Open the S125.
2. Click in the first row of the Current fiscal year column.
3. Press and hold the down arrow key until you reach the bottom of the column. 
4. Repeat steps 2 and 3 for the S100.
5. If more the one copy of the S125 exists in the file, repeat steps 2 and 3 for the each set of S125, S140 and S100, in that order.

Alternately, reimport the GIFI data.

Resolution

Download the latest TaxCycle release to resolve this issue. The rounding of imported values will not automatically correct itself after installing this release. Please either reimport the GIFI data, or follow the workaround above.