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Posted by on in Accounting News

Jazzit has released an update for Jazzit Fundamentals on April 25, 2014. Administrators please click on the link for the log of revisions: http://www.accountants-templates.com/members/content/download/Arialup/Date.pdf

The following updates are included in the April 25, 2014 Jazzit Fundamentals update:

 

 

MAJOR UPDATE- Loan & Lease Calculator

- Specify compounding periods and payment intervals (daily, weekly, bi-weekly, semi-monthly, quarterly, semi-annual, annual).
- Added support for interest only and fixed principle loans.
- Accommodates Canadian mortgage calculations.
- Payments can either be calculated, taken from the working paper, or overridden to the desired amount.
- Specify balance outstanding at the end of the current fiscal period if regular payments were made but interest rate was floating.
- Specify total number of payments over the term of the loan if not the same as calculated.
- Specify total number of payments in the current fiscal period if not the same as calculated.
- Separated 'calculate' and 'transfer' buttons so that the working paper will show the amounts calculated before the user has to transfer the amounts to the working paper.

 

 

 

 

Long Term Debt, Callable Debt, Capital Leases, Loans and Notes Receivable Working Papers

- Added support for the improved Loans & Lease Calculator.
- Improved Diagnostics- When the number of rows are greater in the working paper than the Resource Centre module, a warning appears when updated the working paper indicating which groups will be affected and how many rows will be lost unless added to the Resource Centre.
- New option to insert 5 and 10 loans/leases at a time instead of only one.

 

 

 

 

Capital Asset and Intangible Asset Working Papers

- Improved Diagnostics- When the number of rows are greater in the working paper than the Resource Centre module, a warning appears when updated the working paper indicating which groups will be affected and how many rows will be lost unless added to the Resource Centre.
- Added option to select a CCA class for the group and determine whether the selected rate will automatically set the group rate.
- Added option to change heading on cost recoveries column to salvage value or ITC.
- Increased the number of supported groups per working paper from 20 to 40.
- Revised "Show All Groups" popup menu in freeze frame to retain current selection on update of Resource Centre.

 

Prepaid Expenses and Deferred Income Working Papers

- Improved diagnostics- When the number of rows is greater in the working paper than the RC module, a warning appears when updating the working paper indicating which groups will be affected and how many rows will be lost unless added to the RC.

Prepaid Expenses and Deferred Income

 

Materiality Guidelines Working Paper

- Revised to reflect information required for a Review Engagement.
- New section added for "Final Materiality Assessments"
- Modified section "Materiality for this engagement" by providing lines for previous period materiality and preliminary materiality along with commentary for each.
- No longer used for an Audit Engagement. Please use JI Checklists package CPEM or PPM for an audit.

 

Client Enclosure Letter

- Updated the threshold for GST quarterly installments from $1,500 to $3,000.

 

GST Simplified Method Working Paper

- Updated the quick method threshold from $200,000 to $400,000.

 

Marketable Securities Working Papers

- Added support for "Specified Foreign Property" per CRA form T1135 which requires the taxpayer to disclose the maximum cost amount during the year for each security.

 

Diagnostics Report Working Paper


- New section added at the top of the document to set default settings for the working paper references roll forward and draft stamp. This affects all letters and working papers in that engagement.

- New section added to the top of the document which shows documents missing role sign-offs.

 

Significant Accounting Policies Note

- Added "Basis of Presentation - introduction to policies" policy.
- Added "Net assets" Not for Profit policy.
- Added "Goods and Services Tax" Not for Profit policy.
- Updated the "Contributed Services" policy.
- Discontinued differential reporting policy and introduction to policies other than differential reporting.

 

Obligations Under Capital Lease Note

- Modified note linked to Jazzit working paper so when "thereafter" is not selected, interest shown only relates to the next 5 years.

 

Marketable Securities Note

- Added check box to toggle the optional line show cost at the bottom of the note.

- Added option to show details by brokerage firm.

- Added feature to insert subtotals into either the securities detail or broker summary version of the note linked to working paper.

 

Description of Business Note

- Updated wording to provide more options for different entity types including Not for Profit.

 

Long Term Debt Note

- Added a loan number to more easily identify the loan to the working paper.

 

Management's Responsibility Schedule

- Formatted the heading to be consistent with the engagement report. Added additional spacing above and lines around the heading options.

After:

Before:

 

Capital Asset Note

- Updated to support 40 groups available in the Capital Asset working paper.

 

Caseware Items

Map Numbers

- Revised the 280 partnership/fund maps, adding partner/funds 6 and 7 and the descriptions.

Document Manager

- Revised names of Property, Plant and Equipment working papers to remove the reference to the number of groups.

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Posted by on in Accounting News

Jazzit has released an update for Jazzit Fundamentals on January 29, 2014. Administrators please click on the link for the log of revisions: http://www.accountants-templates.com/members/content/download/Arialup/Date.pdf

The following updates are included in the January 29, 2014 Jazzit Fundamentals update:

 

 

Client Enclosure Letter:

Option of specifying between Paper and Electronic copy for enclosures has been added to the top of the letter.

 

Additional options have been added to Management Bonus section of the letter. You are now able to choose between
"Next 180 days bonus" / "Annual Bonus" and "We file T4" / "Client Files T4".

 

Additions have been made to the text within Federal and Provincial Corporate Tax to accommodate online filing.

 

Schedules Menu:

Added right mouse menu option to update schedule or pull same schedule from another financial statement to the
delete button for all schedules.

 

Statements:

All statements will now only allow you to change manually inserted lines into subheading lines if there are no values
already entered into the line.

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Posted by on in Accounting News

Jazzit has released an update for Jazzit Fundamentals on October 29, 2013. Administrators please click on the link for the log of revisions: http://www.accountants-templates.com/members/content/download/Arialup/Date.pdf

The following updates are included in the October 29, 2013 Jazzit Fundamentals update:

Accounts Payable Control & Accounts Payable Confirmation: These working papers now support 51 company entries. You are able to input company details, dates, and amounts to be paid in the Accounts Payable Control working paper. You are then able to choose between these entries in the Accounts Payable Confirmation via a drop down menu.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts Receivable Control: These working papers now support 51 companies, increased from 21.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property, Plant, and Equipment Schedule & Property, Plant, and Equipment Note: These two modules now have properly corresponding amortization rates.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-9 column Income Statement Schedule & 1-3 year statements: When choosing forecasting in the column field 'Type', these column headers now display the appropriate year depending on how many years into the future is selected in the 'Year' field.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

All statements: Manual lines have been updated to print regardless of if they have information inputted.

 

 

 

 

 

 

 

 

 

 

 

 

 

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Posted by on in Accounting News

See the Campaign! We're going pro

http://www.cpapro.ca/see-the-campaign/

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This award recongizes the CGA student or gratuate in Alberta achieveing the highest average mark, at the first time writing, in FN2 and MS2 examinations.  To be presented November 20th at the 2012 CGA Alberta Honours & Awards Gala. www.cga-alberta.org

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