The TTI Suite – Tax Accounting

Designed to make difficult or tedious calculations easy, and minimize the WIP during all stages of your workflow.
Canada Emergency Wage Subsidy

In response to Bill C-20 passed on July 27th, Tax Templates Inc. has built a new Canada Emergency Wage Subsidy (“CEWS”) worksheet to help businesses and their advisors calculate their claims.

This worksheet is filled with features, including:

◦   Optimization of the CEWS for each employee for each week to receive the maximum benefit available

◦   Built-in deeming provisions to automatically claim CEWS based on prior period qualifying revenues

◦   Built-in deeming provisions to maximize the revenue reduction percentage for each qualifying period

◦   Maximizing the “pre-crisis” baseline remuneration for each employee based on all four period options

◦   Determining if any employee is without remuneration for 14 consecutive days

◦   Flexibility to choose between the “General” and the “Alternative” baseline revenue approach

◦   Calculate claims from Mar 15, 2020 to Aug 29, 2020 (and until Dec 31, 2020, if extended)

◦   Wage subsidy amounts for both active and furloughed employees

◦   Supports payroll frequency of weekly, biweekly, semi-monthly, and monthly (or enter daily amounts)

◦   Summary reconciliations for the employees to streamline 2020 T4 reporting

 

Investment Bookkeeping

Having been requested by tax professionals across the country, the Investment Bookkeeping worksheet is about to streamline the way you journalize your corporate and personal investments.

Supporting several accounts and a full portfolio of assets, this worksheet cleanly and expertly summarizes investment transactions for tax and accounting purposes.

The worksheet supports a broad scope of components, such as a built-in cash reconciliation, journal entry outputs, and support for foreign currency gains and losses. It also provides tax features such as the T1135, and superficial loss rules.

 

  

Corporate Tax Continuity

This worksheet reconciles CRA (re)assessments to journalized tax amounts, and determines the current tax provision.

Reconciling financial statements to filed tax returns to assessments can be a complex exercise. This is even more difficult when there are multiple (re)assessments, interest, penalties, and prior year balances.

Using straightforward inputs, this worksheet calculates under or over accruals, provides journal entries to book in the financial statements, reconciles the financial statement accounts, and more.

To best meet your specific requirements, you can take advantage of the different worksheet flavours that include calculations for R&D, and refundable taxes for Canadian-controlled investment corporations.

 

  

Safe Income

This worksheet is used to calculate the safe income on hand for a class of shares, and allocate this balance to shareholders. We’ve found a way to make this challenging calculation clear and user friendly.

Our fresh approach allows you to reconcile your adjustments to tax returns and financial statements. You have easy options to customize your solution in response to changing legislation, CRA policies, and court opinions.

This worksheet is a powerful tool, purpose-built to meet the needs of professional tax advisors.

 

  

Simplified or Quick (T2125, HST)

This worksheet supports the integrated completion of the T2125 – Statement of Business or Professional Activities, and GST-HST return using the Simplified or Quick methods. Regardless of the GST-HST method used, or the information source (summaries, financial statements, “shoeboxes”), you can quickly calculate the amounts needed, and complete your returns with confidence. The template is built to meet your real-world needs, such as translation between currencies, part-year registrations, and varying rates within a tax year (e.g. rate changes, harmonization).

 

  

Client Input Form

Forex

This worksheet supports foreign currency translations using Bank of Canada rates. It provides rates for the usual periods (day, month, year), custom periods, as well as special periods often used by professional advisors (month ended, quarter ended, year ended).

Easily translate amounts to or from popular foreign currencies regardless of the rate needed – with data going as far back as 1951!

With a foolproof interface and convenient referencing, this worksheet will integrate seamlessly into your workflow.

 

  

Look no further. Get started today!