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Jazzit Review and Audit checklists have been updated

Our review and audit checklists have been updated for the 2018 PEG update from CPA Canada.

Navigate to the Downloads page at jazzitsupport.com to update your package today!

 

Posted by on in Jazzit Updates
 

With the start of a new year, comes the refreshed Jazzit SCORE template with new features and enhanced functionality.

SCORE allows you to provide your clients with valuable information regarding their business, through ratio and trend analysis as well as custom benchmarking information, either as a stand-alone service or a value add in addition to other services provided by your firm.

Adding letterhead and/or electronic signatures to SCORE?

Follow the link to our community post on how to insert them into your SCORE template!

We appreciate the continued support and feedback for the Jazzit SCORE template. We hope that these new features and enhanced functionality provide you with the tools to better serve your clients’ needs and are a great value-add for your business. - The Jazzit team

 


Access to enable edit mode

  • You now have the ability to enter Edit Mode in the Resource Centre (JZBM) module and edit the generic report and graphs for increased customization. Graphs can be edited to their desired size and firm standard wording can be added to the generic report

 

New generic management report alternative to the preformatted report

  • 30 sections available for use and customization
  • Performance summary table showing key indicators for up to five years

  • Five column multi-section table with customization options to display your client's data in any way you choose

 

Added Working Capital and Revenue

  • Added new sections for working capital and total revenue

  • Increase the number of benchmark modules in the Resource Centre (JZBM) to 200

 

Enhanced functionality

  • Page breaks have been added between the ratios and components for improved layout functionality. This can either be done on each ratio individually or globally with a single button click and each ratio can be updated or replaced individually from the Resource Centre (JZBM) without having to re-do the entire document

  • The conclusion paragraph and signature lines can now be shown either after the letter or after the ratios

  • Selected benchmarks and industry are now retained after updating the template from the Resource Centre (JZBM)

  • The graphs now default to the same font as the management report and can be switched to either Arial or Times New Roman

  • Select ratios/key performance indicators directly from the ratio index with a single click

  • A document map has been added to the template for easy navigation

Posted by on in Jazzit Updates

Jazzit has released an update for Jazzit Fundamentals on November 27, 2015.

 

Administrators please click on the link for the log of revisions: Jazzit Fundamentals Update Log.

Introducing Jazzit Webinars! A fun and easy online way to learn more about your Jazzit package. Check dates and register here!

Also check out our new video on "How to import Excel objects into the Jazzit Templates".

 

Thanks to everyone who sent in their feedback to us. The following updates are included in the November 27, 2015 Jazzit Fundamentals update:

 


 

*NEW WORKING PAPER* JZNEXT – Considerations for next year working paper

Introduced a new working paper which allows the preparer to make notes and considerations for the following years file preparer. This working paper does not clear on year end close so it can be completed and cleared in the following year by the next preparer

 

JZDIAG – Diagnostics report

- The diagnostics report now includes the option to specify a different threshold for diagnostics in working papers than the rounding threshold in the financial statement

 

- Diagnostic report can now either display all the diagnostics in the working paper, or hide diagnostics with values lower than the threshold set above

 

 

BS, BS2, BS3 – Balance Sheet, 9 column Balance Sheet

- Income tax payable/recoverable can now be shown as either a single amount or split between Asset/Liabilities using a right-click menu option located on the lines mapping number

 

 

- Due from/(to) related parties and Due from/(to) shareholders can now be shown as either a single amount or split between Asset/Liabilities using a right-click menu option located on the lines mapping number. This option is only available if there are no related notes for the balances in the financial statements

 

 

SC1, SC6 – 1-2 year income statement schedule, 1-9 column income statement with budget schedule

- Added the option to display descriptions on section totals similar to those found in the Income Statement, i.e. Total sales, total expenses, etc. These descriptions can also be bolded and indented if required

 

 

MS – Marketable Securities working papers

- Summary of disposals during the year – Added a “Return of capital” summary column to the table

 

K5, KG, K9, KV – Debt notes

- Added the optional wording of “which has a carrying value of $...” to each security for additional disclosure

- Added an additional input paragraph under the securities details in each working paper

 

K8 – Financial instruments

- Note has been updated with functionality more consistent with newer notes

 

 

KE – Long term investment (Default note)

- Added the ability to insert linked lines

 

JZIL – Independence letter

- Added the ability to hide the Relationship(s) to disclose and Disclose fees sections if they are not needed

 

TX – Income taxes

- Any differences in the reconciliation of provision from year to notices of assessment is also populated in the Current year’s income tax expense calculation table

- The General Rate Income Pool (GRIP) table has been updated with new column headings, newer after-tax income percentages, and a column for adjustments

 

Posted by on in Jazzit Updates

Jazzit has released an update for Jazzit Fundamentals on October 30, 2015.

 

Administrators please click on the link for the log of revisions: Jazzit Fundamentals Update Log.

Introducing Jazzit Webinars! A fun and easy online way to learn more about your Jazzit package. Check dates and register here!

Also check out our new video on "How do Windows regional settings affect the Jazzit Templates?".

 

Thanks to everyone who sent in their feedback to us. The following updates are included in the October 30, 2015 Jazzit Fundamentals update:

 


*New Statement* IS2 - Statement of Changes in Equity

We have added the statement of changes in equity to the financial statements. The statement can be used as an alternative to the statement of retained earnings, and provides columns for accounts such as share capital, accumulated comprehensive income, and minority interest.

Note: This statement is selected from a dropdown in the statement of retained earnings ONLY when using the 9 column financial statements and the structure is set to a limited company. This statement also requires additional style sheets and database files updated in the Resource Centre before use.


JZUPDATE - RC Update Control

- When connected to an update folder, the JZUPDATE will now display which build version is located in the update folder.

- The status column will no longer display a warning if the module in the current Resource Centre is newer than the update folder.

 

 


CA/CB/IA - Amortization Working Papers

Added the ability to delete multiple rows in multiple tables throughout the working paper, similar to how multiple rows are inserted in the working papers, under the document option settings.

 


K3A - Significant Accounting Policies

Headings can now be shown in italics (with/without underlining and bolding).

 


KJ - Related Party Transactions - Option 2

Note now supports the ability to display as many related parties as required. Please see the first three related parties already inserted for guidance on how to create more.

 


IS/IS2 - 2 Column Income Statement / 9 Column Income Statement

The statement of changes in net assets now supports the ability to disclose prior period adjustments the same way the statement of retained earnings does.

 


CL - Client Enclosure Letter

- GST tax - Added wording for electronically filed.

Government of Canada direct deposit - Added a paragraph with wording indicating a switch to electronic filing of returns, and information on registration for the process.

 

 


EL/RP - Engagement Letter / Engagement Report

The engagement report heading can now be set to left, centre, or right aligned and the case can be in either upper or lower via the report options, found at the top of the report.

 

 


SCMGTR - Management's Responsibility for the Financial Statements

The heading for the report can now be set to left, centre, or right and the case can be in either upper or lower via the management responsibility options, found at the top of the report.

 


TC - Table of Contents

- The page title case for the engagement report is now linked to what has been selected in the engagement report options below.

- The word "Financial Statements" can now be set to upper or lower case.

- The word "Financial Statements" can now be turned off if required.

 

 

 


MG - Materiality Guidelines

Calculations of posting threshold - Section has been added back to the template and enhanced.

 


JZNET - Net Worth Statement

- The headings (including page title, signature boxes, and index number) for the statement can now be turned off if required.

- Other minor visual changes have been tweaked.

 

 


JZSR - T4 Reconciliation

The "Other deduction 1/2/3/4" columns can now be turned off and have their headings adjusted via settings in the salary reconciliation options.

 

 


CP - Home Menu

The Status column, located under Admin, will no longer display a warning if the module in the financial statements is newer than the Resource Centre.

 


BS/BS2/BS3 - 2 Column Balance Sheet, 2 Column Balance Sheet with Opening Balance, 9 Column Balance Sheet

The share capital section will now retain details for authorized and issued shares even after updated the balance sheet from the Resource Centre.

 


TX - Income Taxes

The estimated tax savings calculation has been adjusted to use the ending loss carry forward balance instead of the opening balance.

 

 

 

We hope you enjoy the improvements to Jazzit Fundamentals!

 

Posted by on in Jazzit Updates

Jazzit has released an update for Jazzit Fundamentals on September 25, 2015.

 

Administrators please click on the link for the log of revisions: Jazzit Fundamentals Update Log

Make sure to check out our new Jazzit Support Centre!

Also check out our new video on "Draft Statements Based On Mapping".

 

Thanks to everyone who sent in their feedback to us. The following updates are included in the September 25, 2015 Jazzit Fundamentals update:

 


*New Document* JZNET - Net Worth Statement

We've created a statement of net worth for director's/members/owners. This document can be used as an additional working paper to summarize their net worth. NOTE: This document is manual and does not link to any trial balance information.

JZNET

 


 

JZUPDATE - Update Control

We have added a new optional step in the update process.

Using the "Update all modules without customization dates" button will update ALL modules in the KLIB which have newer versions in the relevant update folder. This process should take a few seconds to complete and will not update any modules which have a customization date associated to them.

 


 

CP - Home Menu

We have added a support button in the upper right hand corner, with links to support and user resource channels.

The KLIB path can now be set by simply double clicking the director location and navigating to the desired folder.

 


 

TP - Title Page

You are now able to adjust the spacing on the Title Page on individual files. Selecting the Title Page, opening the "Title page settings" folder in the financial statements will allow the user to adjust the spacing of the wording on individual files if necessary. NOTE: The KLIB functionality for administrators remains the same if you wish to set firm-wide standards for spacing on the Title Page. 

 


SC2 - Generic 2 Column Schedules

We have added the ability to include a second description column, with note references, to each section via the right-click express button menu option.

 


BS/BS2/BS3 Balance Sheets

We have added the option to select descriptions for Total Assets, Total Liabilities, and Equity.

 


CA/CB/IA - Amortization Working Papers

We have added an extra column which shows the number of lines in a specific group, including a tool tip in the description column. The number of lines in a specific group has also been added to the Global row insertion section. This row number column is optional and can be turned off under the Column selection options.

 


 

 CL - Client Enclosure Letter

Added current and prior year end date selectors to the document options.

"Summary of corporate taxes payable (receivable)" now supports up to four columns for displaying taxes split across different levels, i.e. federal, provincial, municipal, etc.

 

 

 

 


 

EL - Engagement Letter

Review/Notice to Reader - Updated to the latest September 2015 wording as provided by CPA Canada.

Notice to Reader - Added the option to have an engagement letter for a corporate tax return only (no financial statement compilation). This option is only available if the type of engagement is set to Notice to Reader.

Notice to Reader - The last line of the engagement letter for Notice to Reader has been made consistent with that found in the Audit and Review options.

We have expanded the number and combination of salutations available under the "Attention:" and "Dear" drop downs.

 


 

RL - Client Representation Letter

Updated to the latest CPEM and PPM wording.

Notice to Reader - Added the option to have a representation letter for a corporate tax return only (no financial statement compilation).

 


 

G1 - GST/HST Reconciliation (simplified)

Added additional subtotals including lines 113A, 113B, and 113C from the quick method GST/HST form.

 


 

PE/DI - Prepaid Expenses, Deferred Income

We have added the option to print or skip the column headings for each of the 5 sections.

 


 

YC - Year End Checklist

We have added functionality similar to that found in the Client Enclosure Letter whereby individual lines can be set to skip/print and updated from the Resource Centre module using the right-click express button options.

 


 

JZCPL, JZLNR, LT, JZCD, JZCPL, JZLAMORT - Loan Calculator and Debt Working Papers

We have added the ability to include loans/leases which start after the fiscal year end.

 


 

KJ, KH - Related Party Transactions, Due to (from) Related Parties notes

Increased the number of related party groups from 15 to 20.