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Importing account transactions including farm accounts

Series 6 & 8 only

Data entered into Accounts for the current tax period can be imported into the Income tax Return and activity statements. Amounts imported into the income tax return are treated as primary or non-primary production income and expenses depending on the menu selection you have made.

To import activity statement details refer to ImportingintoanActivityStatement below.

Importing into an income tax return

If you have attached Primary Production Schedules C or Business Income Schedules B to the return these should be deleted before beginning the import.

To import into an Income Tax Return
  1. Open the return and select Utilities.

  2. Where the sole operation of the business covered by the accounts is primary production, select Import from Farm Accounts. The import will treat all transactions as relating to primary production business income and expenses,
    Select Import from Accounts to import transactions as primary and non-primary production income and expenses depending on the account mapping.

  3. The account transactions determined to be within the period of the tax return are listed.

  4. Remove the tick from any transaction that you do not want to import.

  5. Click OK. The system includes the totals of the transactions at the appropriate labels in the main income tax return form. Any values already entered directly into these fields are cleared.

    Amounts integrated from schedules B or C attached to the return after the import will be refreshed from those schedules. To restore the imported values you need to delete the attached schedules and repeat the import.

Importing into an activity statement

Account transactions are imported into activity statements based on the account code mapping. This can be accessed:

  • From the Configuration or Compliance Management window through Tax Masters icon > Solution 6 — Account Code Mapping OR

  • From the Activity Statement open Utilities > Client GL Account Mapping.

To import into an Activity Statement
  1. Open the Activity Statement attached to the return and select Utilities > Import from Accounts.

    Import from Farm Accounts is not active when importing values into the Activity Statement.

  2. Check and adjust the period dates for:

    • GST

    • PAYG Instalments

    • PAYG Withholding amounts

    • FBT

  3. Click OK to display a Summary of the period dates which have been found to be valid.

  4. Click OK to continue the import. The system collects transactions within the period and includes the transactions with GST amounts at the appropriate labels in the activity statement.

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