Do we have T5008 export to Excel option yet.
Currently I have one client with 204 x T5008 slips to match to the Annual Gains Loss Report. In the past I have had as many as 600 slips. The CRA download came in random order. Adding the individual ACB’s took hours. Reporting the S3 gains loss per the Slips Summary looks like a dogs breakfast in random order. I am not looking for consolidating the slips since the Client’s Source Docs are in detailed transaction order only. Even if I were looking to consolidate the slips, it would be practically impossible to get the right with the current workflow.
Any ideas for work arounds:-
1 - for data entry in alpha order
2 - for exporting for verfication
3 - for sorting in alpha and date order
You may wonder why I would even bother to enter at the detailed level. It is because there are a few types of issues that don’t reveal themselves except at the transaction detail level. A few examples include the following
1 - Redemptions, conversions, swaps, splits, reverse splits, etc.
2 - DRIPS - dividend reinvestment
3 - Transfer with no ACB’s at the FI (financial institution) level.
I know that this is post season. However I would like to give the client something better than a random order of slips summary created from the CRA AFR download.
In general it would be helpful if TaxCycle could reorder each group of slips from the AFR order to alpha order. I would also be helpful if there were a slips order ref# - one for AFR order + one for alpha order.
Why - Because active traders and even middle class retirees can have several hundreds of T5008 slips issued each year.
For T3 + T5 slips, individuals with medium to large unregistered individual investments can have literally hundreds of slips in each slip type. Often the slips issued by CRA are individual and the slips received by the client are consolidated by the issuing investment dealer. The current TaxCycle consolidation feature helps when the slips are under 30 or 40 for each slip type. When there are many more slips per type, often over 100 and sometimes in the several hundreds, then these numbering and sorting, and additional features such as adding the name of the consolidating issuer, would be very helpful.
For 2019 tax season I would really like some better tools for these issues. However, if you have added new features and functions which I missed, then please accept my apology for not noticing. No excuse for not noticing, but I’ve been focused on new workflow tools, quality improvements, and add-on advisory services. I have not been so focused on TaxCycle this tax season.