Import GIFI From Xero®

Updated: 2021-09-28

Link TaxCycle with Xero to seamlessly import General Index of Financial Information (GIFI) information into corporate and partnership returns.

Xero GIFI import data flow diagram

To use this feature, you must have a current subscription to Xero.

Import Xero GIFI Data

  1. Open the TaxCycle T2 or T5013 file into which you will import the GIFI data.
  2. Go to the Data menu, click GIFI Import and select Import Xero GIFI Data.
    Screen Capture: Import Xero Account GIFI Data
  3. TaxCycle will launch a browser to connect with Xero. If prompted, log into your Xero account.
  4. The first time you connect from TaxCycle, Xero will ask you to confirm that you wish to allow TaxCycle access to the data in your Xero account. Click Allow access to grant permission.
    Screen Capture: TaxCycle wants access to
  5. Once you see a message in your browser confirming that TaxCycle has successfully connected to Xero, you can close your browser window.
  6. TaxCycle attempts to match the open TaxCycle file with a business in your Xero account.
  7. If you have access to more than one business through your Xero account, you can search for the business by name. TaxCycle automatically populates the Search box with the corporation's name from the tax return.
  8. Click the name of the company you want.
  9. Click Import GIFI Data to download and import financial information into the GIFI schedules S100, S125, etc.
    Screen Capture: Import Business to Xero

Connection Options

Each time you attempt to download from Xero, TaxCycle will check for a connection. You can also connect or disconnect from Options without importing data. Under the TaxCycle section, expand Service Providers and click on the Xero page.

Screen Capture: Xero Integration Options

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