The Financials & Income Tax Table can be found in the Financials & Income Tax Department.
Financials & Income Tax are scheduled with a due date of the last day of the following year-end month.
This post will explain how to:
1. To switch on Financials & Income Tax:
Go to the Client table.
Click on a client.
Make sure you have added a Year End
Scroll down to the Services section.
Check the Income Tax checkbox.
The task will schedule for all CIPC-registered entities where the above has been ticked.
2. Working on a Task
To work on a Financials & Income Tax task:
Go to the Financials & Income Tax table
Click on a record
Expand the view by clicking on the expansion bar
There will be a Financials & Income Tax Summary section, a Financial Statement Process section, a Financial Statement Approval section and an Income Tax Return Submission section.
Once you start working on a task, change the status in the Summary section to In Progress. Once the task is done, change the status to Completed. The task will then move away from the main table and into the archive table.
The other sections give various checkboxes of steps to follow to complete the task. You can check checkboxes as you work, save the record and continue later. If you know the steps by heart, you can just use the status dropdown in the Summary section.
In the Income Tax Return Submission section, there is a SARS Verification (IT14SD) checkbox. Once this is checked, a task will automatically be created in the SARS Tasks table.
3. Task Reminders
A reminder will appear in the All Tasks Due table indicating the number of Financials & Income Tax tasks due for a particular date.
If you click on any of the blue hotlinks, you will be taken to the task in the Financials & Income Tax table, where you can start working on it.
Transferring the task
Once you change the Progress to 'Ready for IT Submission', the reminder in the All Tasks Due table will change from the Accountant to the Tax Role.
Adding an Audit Team
An audit team can be added to a Financials & Income Tax task. The entire team will receive a reminder in the All Tasks Due table.
To add a team:
Open the Record you want to add the Audit team to
Click on the Financials Team tab in the top right.
Click on 'ADD RECORD'
Select the name of the first team member from the dropdown.
Backlog / Individuals / Sole Proprietors
For any backlog or Individuals or Sole Proprietors that need financials, a record can be added manually by clicking on 'ADD RECORD' in the top-right corner.
Filter & Sort
You can search/filter and sort on any column by clicking on the 3-dot menu next to the column name. Sort will allow you to sort Ascending or descending, while filter will provide various options and allow you to type in a specific name.
An active filter will display in the top right corner. To clear a filter, click on the x.
DataGrows allows you to keep track of time spent on any task. This post will go into more detail on that.