Review marks in TaxCycle

It would be extremely helpful if the review marks in TaxCycle mimicked the DoxCycle review marks - first review green, second review blue and a possible red review option.

I like the idea of multiple colored review marks.

In my case I review personal tax returns four times. Some review actions involve data entry of fields, some involve T1 tax forms use, and some involve preparing or obtaining information from a spouse, dependent, or other source.

These are my four stages of tax preparation and reviews.

  1. Rollover, engagement, AFR, first entry, and first review.

  2. Compare items and totals with last year, with current year tax changes, with current year personal tax info changes, and dig deeper into any questions or missing info. Make notes. List additional forms or filings required such as Marital Status Change, address change date if required for move >40 kms or change of province for benefits, or family support, etc. Follow-up with client if needed.

  3. Final review, final optimizations, follow-up notes before e-Filing.

  4. Compare eNOA and/or NOA to returns as prepared. In the event of no difference, note assessment made as filed. In the event of a variance, identify reason. Report reason for variance to client. Prepare a tax adjustment request if needed. Request CRA clarification if needed.

Tools and process documentation

I force fit the review activities in to current TaxCycle workflow, notes fields, memo fields, and Microsoft OneNote.

Some external client communications I initiate through Pixie. Refer to Gabrielle Fontaine’s Form 1099-NEC YouTube video for an excellent example.

About Pixie

The Bookkeeper’s Year-End Bootcamp: How to Streamline 1099-NEC Prep for Less Stress & More Profits
The Bookkeeper's Year-End Bootcamp: How to Streamline 1099-NEC Prep for Less Stress & More Profits - YouTube**