I just watched the recent webinar: Excel integration with TaxCycle - Webinar from February 24, 2017.
I’ve been hoping for a facility to import T2125 data from a spreadsheet into TaxCycle and I’m glad to see that this is being released soon. That alone would be great but the webinar said that this can be done for any form in TaxCycle - is that the case? If so, that is fantastic!
I’m just wondering how that will work. At first thought, the information that I have the most interest in importing is the following:
- Donations Worksheet
- Medical Expenses Worksheet
- Motor Vehicle Worksheet
The first two seem pretty straightforward but I wonder about the last three as the odd time you will have a return that has multiples of these.
I also wonder about how it will all fit together. Will you need a separate workbook (i.e. Excel file) for each form that you import into? I can see why this might be necessary but I would also hope that this won’t be the case.
I can envision a fairly standard return where there are some donations and medical expenses to claim as well as motor vehicle expenses to include in the T2125. That would potentially be 4 different excel files, whereas it would be neat and tidy to be able to collect all of that in a single Excel workbook.
I suppose there will be a webinar forthcoming to take us through this new feature in depth once it is released.