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April 1 Jazzit Fundamentals Update Available

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Jazzit has released an update for Jazzit Fundamentals for April 1, 2016

 

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

Also check out our new video on "Schedule of the Key Performance Indicators"

Thanks to everyone who sent in their feedback to us! The following changes are included in the April 1, 2016 Jazzit Fundamentals update:


CP – Home Menu

  • Updated the 'Structure' dropdown to include the option for PSAB. When selecting this option, the Engagement Report, Balance Sheet, and Income Statement, are automatically set to the correct structure for the preparation and presentation of PSAB financial statements. The Statement of Changes in Net Financial Assets is also available when PSAB is selected.


  • NOTE: This option is only available for the 9 column statements

TC – Table of Contents

  • Updated to support new PSAB statements and functionality. This module MUST be updated in your financial statements to use the Statement of Changes in Net Financial Assets

BS2 – 9 col Balance Sheet (PSAB)

  • Tangible capital assets, inventories, and prepaid expenses have been moved to the Non-Financial Assets section and adjusted rounding accordingly

RP – Engagement Report (PSAB)

  • Added PSAB as an accounting standard

IS2 - 9 Column Income Statement (PSAB)

  • Added the Accumulated Surplus reconciliation

          NOTE: The accumulated surplus (deficit) can either be shown at the bottom of the Statement of Operations, on a separate page, or turned off completely.

  • Added the Statement of Changes in Accumulated Surplus (Deficit) with functionality for prior period adjustments

  • Added the Statement of Changes in Net Financial Assets (Debt)

IS/IS2 – 2 and 9 column Income Statements

  • Added Statement of Partners' Capital Format C allowing opening balance and allocations (Format D in 9 column statements and Format C in 2 column statements)

  • Statement of Partners' Capital Format A - Added a column to allow allocation for partners' income by units instead of percentage

CA/CB/IA – Property, plant and Equipment/Intangible Assets working papers

  • Added a new group at the bottom of the working paper which can pull total balances from other external CaseWare file entities in a consolidation

K4 – Property, plant and equipment notes

  • Notes can now pull balances from other external entities in the consolidated group

  • Added an opening input paragraph to the note

KD – Marketable Securities note

  • Linked to WP and Option 2 - Notes can now pull balances from other external entities in the consolidated group

SC5 – Property, plant and equipment schedules

  • Schedule can now be linked to amounts from other entities in the consolidated group, along with other minor superficial fixes and changes

IU – Account analysis

  • Added option to program the 5 available periods in the template options area

  • New functionality including rounding warnings, rounding to specific lines using right-click functionality, and switching header lines on/off

MS - JZMW - Market securities working papers

  • Working papers will no longer accept a disposal if number of units sold causes the ending balance to be negative

YC – Year-end checklist

  • Added the previously only available Notice to Reader option for custom "Providing client" wording to Audits and Reviews

RL – Representation letter

  • Added the previously only available Notice to Reader option for custom "Providing client" wording to Audits and Reviews (as above)

K5/KG/K9/KV – Debt notes

  • Added + and - buttons for note linked to trial balance and spacing options

KO – Generic 2 column notes

  • 2K - Added + and - buttons for note linked to trial balance

EL – Engagement letter

  • Adjusted the opening paragraph to not refer to any accounting standards when only preparing a T2

SCRATIO – Key Performance Indicators

  • Minor tweaks to layout and the user experience