Preparing Your First Return

This guide will walk you through the essential steps, from entering data to your first EFILE transmission, ensuring a smooth and accurate tax return. We'll focus on the core workflow so you can become comfortable navigating and using TaxCycle's powerful features.

1

Navigation and Data Entry

Learn to navigate through forms and discover time-saving data entry tools.

Open forms from the Prepare sidebar and F4 Fast Find.
Discover keyboard shortcuts to move around.
Download data from Auto-fill my return.
Import GIFI data from Xero and other software.
Try Smart Copy/Paste to share data between forms.

2

T1/TP1 Returns

This step walks through preparing personal tax returns for various client scenarios.

Review the Info and Engagement worksheets.
Create linked returns for couples, dependants and families.
Discover optimizations for key credits like donations, tuition and medical expenses.
Prepare income statements and track CCA and assets.
Unlock the T1135 form and Québec TP1 returns.

3

Review and Planning

Discover TaxCycle's review tools to help you prepare accurate tax returns.

Resolve review messages and Quick Fix solutions.
Apply review marks, memos and tapes to flag fields for later.
Work with data monitors to monitor information in the return.
Compare snapshots and variance between tax years.
Explore planning tools to help clients plan for the following tax year.

4

Finalizing a Return

Collect signatures, electronically file, and track the status of each client's return.

Request electronic signatures with TaxFolder and Docusign®.
Transmit returns with T1 EFILE and T1 ReFILE.
Print and create PDFs of tax forms.
Customize workflow tools and track the progress of a return.
Complete the Billing worksheet and invoice your clients.

5

T2, T3, T5013 and Slips

Add corporate, trust and partnership returns to your offering. Prepare information slips for small business clients.

Move data between returns using SlipSync.
Create T2 corporate tax returns.
Prepare T3 trust tax returns and enter beneficiary information.
Prepare T5013 partnership returns.
Transmit information slips (T4, T5, etc.) and summaries through Internet File Transfer (XML).

Initial Configuration

Install your software and tailor it for your firm and clients.

Start Configuration

TaxFolder Start Guide

Connect TaxFolder to request electronic signatures and share files with your clients.

Connect to TaxFolder

Ongoing Support and Resources

Once you're set up, TaxCycle is here to support you throughout the year.

Go to the Help Centre