Export to Excel

T2
1

Hi,

Is there any way to export S100 and S125 to Excel?

I found there is import from Excel option but I want export to Excel.

Thanks in advance.

2

@Mike20

There is not currently a way to export these schedules to Excel from TaxCycle. Is this something you would like for the purpose of creating a set of Financial Statements after finalizing a tax return?

Sarka

3

Yes, just for preparing Financial Statements for a Notice to Reader.

4

Please, Please, Please -
lets NOT do this.
.
Just because we have reached the stage of technological ability to be able to figure out a way to put the horses BEHIND the cart, does NOT make it a good idea to do so.
.
Not to even mention the legal requirements of books and records etc… :scream:

3 Likes
5

I don’t care one way or the other but I was confused about why it would be something needed. As Joe said, it just seems backwards. The T2 is based on the financial statements. I’ve never had someone give me a TaxCycle T2 file and had to prepare financial statements from it.

1 Like
6

@kevin
Well, I would also suggest that it might be appropriate to say “good luck” to one’s future Public Practice licence surviving a practice review of such compiled financial statements with reference to (non) compliance with S9110…

7

We have had a number of requests to create some sort of P&L and Balance Sheet using the S100 & S125 data (either as part of Templates or as a Worksheet). Thoughts…opinions?

8

I can’t think of a reason for this. Unless I’m missing something, there are likely more important program improvements.

2 Likes
9

Please don’t do this.
It seriously conflicts with Canadian Accounting standards - see above for my thoughts.
As well, implies encouraging non-compliance with the Income Tax Act .

2 Likes
10

I am with Joe on this one. I can see no reason to do it and many reasons not to do it.

2 Likes
11

I don’t know what other people think, but for me, I prepared my T2 based on pdf files (P&L and Balance sheet, etc.) I received from my client. I did some adjustments on my T2 (S100, S125, etc.) and just wanted to send him back the adjusted financial statements after I prepared his T2 according to the info I received from him.

I don’t know how other guys here prepare financial statements, but exporting from S100 and S125 is a big help to me.

Thanks,

12

@Mike20
You are going to have to change your work flow next year…

13

Please let me know exactly which Canadian Standards prohibit this?
Please give me a link or a reliable reference.

Thanks,

14

@Mike20
I already referred above to Section 9110.
Compulsory from next year…
You might also know the standard as CSRS4200…

15

I am with the majority that there are many reasons not to do this.

1 Like