Hi everyone! We’re working on adding a few items to the checklist page within the pre-season template and are looking for feedback.
We were finding the checklist on page 3 of the template was getting too crowded, so in this new version, it is split out onto two pages: a questionnaire and a supporting documents checklist.
Hello Elizabeth, the questionnaire looks great - one thing I would like to see added are questions about foreign pension income (The German one especially - nothing but headaches)
Country of pension income (I have one client who gets pension from 3 countries)
Amount of pension in foreign currency (German one again)
Start date of pension received
Exempt portion of pension (German one again)
Foreign taxes paid or payable on pension income
Many thanks - Klaus Theyer - Exact Tax Service
I have many clients who have other financial investments whereby they receive many T3, T5 and T5008 reports. Can this be specified on the checklist?
Also in Cantax, one of the most useful forms was T5008-Summary Statement of Securities Transactions Slips, which basically listed all the various T5008 transactions for a tax payer. This was very useful as it allowed easy review of slips against the fund reports.
Last year was my first year using taxcycle (“TC”) and one my client had over 175, T5008 transactions downloaded via AFR.
TC doesnt have this T5008 Summary report, so I had to manually click through each transaction slip and scroll to confirm the details matched. It was extremely tedious. Can you guys get that in place for this year’s version?
Thanks
Can you take a look at the T5008Slips report? It’s fully configurable and should do what you need. Right click on a column header to add or remove columns as you wish.
It looks great. Are there any plans for a link to be included on this checklist so that clients can upload to TaxFolder for the new taxation year as they get the documents?
wow…i had no idea this was there I even called TC support and the person i spoke with said there was no such report feature in the software. This will definitely make life easier!
I added this in April. My own return had about 50 T5008 slips… it was quicker for me to add this form than it would have been for me to reconcile the amounts without the report.
Looks good to us.
Is it safe to assume that the Quebec Prescription Drug Insurance Plan section will be set to not print if the taxpayer’s address is outside of Quebec?
@shaun This checklist automatically lists T3, T5 and other slips if they were carried forward from the prior year. Because people often has so many T5008s, we exclude them from the checklist (this was a prior-year request).
@tiffany We’re looking at eventually putting this checklist online in TaxFolder. I’m not sure if we could include a personalized link when generating this checklist. @sarka You might want to take a look at this idea.
@Elizabeth
Much improved template. Could you add a few blank lines under the Family Details section so that clients can list their dependants? Also, could you make the marital status question more like the the Contact Information items - show the current marital status, and leave a blank for the client to fill in?
These will help with new clients, for whom we don’t yet know their marital status or dependants.
Thanks!
I like this way better. I would also like you to consider adding the engagement letter to the package as this is needed for every client as well so why not add it here.
@bonnie I understand where you’re coming from, but there are some people who want this separate from the engagement letter. There’s an easy solution, though… You can create a print set of the engagement letter and the pre-season letter and print that all together…
