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Taxfiler and uploading TB's

I find it very difficult!

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I've just wasted an hour and a half trying to get a 3 page TB uploaded to Taxfiler. I tried connecting with Xero. I got a load of queries from TF that needed to be allocated. I did that and then checked the statutory accounts from TF to Xero and discovered fairly fast that a large number of other accounts had been neatly parcelled together and put to "sundry". So I disconnected from Xero and manually input the stuff. With the comparative column prepopulated from last year, this was the quickest way to do it. It seems that unless you have the exact spelling of a particular account Taxfiler will misunderstand even obvious stuff.
Assuming I take on more clients each year, I am not going to want to waste this amount of time on uploading a TB.

Are the Taxcalc type programs better at uploading TB's for statutory accounts?

Replies (15)

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By Cloudcounter
04th Apr 2019 17:41

I only use Taxfiler for simple accounts, and generally where we've done accounts using the program before. I can imagine that a three page TB would be a bit of a challenge!

The Taxcalc import routine is a lot better, but I don't really like their chart of accounts. Worse is that left to its own devices the program will disclose far more than is required, so I have to finish off account by reclassifying things like VAT, directors loans and others to the correct heading

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RLI
By lionofludesch
04th Apr 2019 17:44

I tend to do it manually, partly because the charts of accounts don't always correlate that well. At least if I'm doing it manually, I can make the decision as to where stuff goes.

Having said that, I haven't got any three page TBs. Mine rarely take more than ten minutes.

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By Gone Sailing
04th Apr 2019 20:07

Likewise @lion we do it manually.

Same problem with QBO.

It's all about the Account names - and merging serveral ex TB into one in Taxfiler.

I figured one day I would work through the clients' nominal and align the descriptions but that day is afar off.

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By Manchester_man
04th Apr 2019 20:27

Its excellent when you're used to it. The trick is as follows.

When importing a TB from the clipboard or from Xero, the first thing you are presented with is a list of unmatched accounts which need mapping. Most people will simply go through the list and click upload.

What I always do is, when presented with that list of 'unmatched accounts', click on the drop-down and select 'all imported balances'. This then displays every account that is being imported, ie not just the ones TF is unsure about, but the ones it has revealed a guess at.

Scan through every account to ensure each imported account is mapped to the applicable account in the TF chart of accounts.

Then when you press 'upload', if you've checked them properly, I guarantee it will work beautifully.

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Replying to Manchester_man:
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By carnmores
05th Apr 2019 09:51

if you use Xero why don't you use the automatic link for fetching the TB. This facility that i use with QB online works wonderfully. if i have a criticism it is that i am unable to print a schedule showing the linking of my TB accounts to TF's categories. i have asked for such a feature

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By Manchester_man
04th Apr 2019 20:32

I couldn't be bothered doing this manually, honestly, I import every TB whether from VT, Xero or a spreadsheet. If following my advice above, you are not at the mercy of TF deciding which accounts to lump where. You'll notice that most things it guesses correctly, so a quick scan of the entire list (not just the unmatched accounts) will get you going very quickly.

Also, when you have done the above process once, it remembers the account choices and makes the following year even quicker.

Just my way. We all have our systems.

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Replying to Manchester_man:
By Moonbeam
05th Apr 2019 09:09

Wow! what a fantastic piece of advice! I was so fedup I started looking at reviews of other software last night but quickly realised that TF is better than all these for me in other areas and I became resigned to my method of doing the TB.
Your idea sounds vastly superior, so I shall print this out and stick it on my notice board for the next one!

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Replying to Moonbeam:
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By Manchester_man
06th Apr 2019 01:25

Than you Moonbeam. I hope that helps.
I experienced the same as you when I first started importing TBs. I've used it for a good few years so if you have any issues, let me know and I'll happily try to assist.

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Replying to Manchester_man:
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By Cheshire
05th Apr 2019 09:20

Thank you Manchester_man for the top tips.

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Replying to Cheshire:
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By Manchester_man
06th Apr 2019 01:26

My pleasure. Thanks for the acknowledgement.

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By frankfx
04th Apr 2019 20:40

Use paste TB from Clipboard

you will first EXPORT TF tb to Excel

Then simply MAP your 3 pages of entries into the TF tb

Clearly several of your own TB entries will merge into a single TF tb nominal

Then copy the new TF populated tb to Clipboard

https://www.notjustnumbers.co.uk/2008/09/do-your-management-accounts-tak...

https://www.excel-university.com/articles/journal-of-acct/the-power-of-m...

the above articles may inspire.

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By daviddaniels
12th Jun 2019 16:45

Is it possible to import a company TB from VT into Taxfiler?

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Replying to daviddaniels:
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By carnmores
12th Jun 2019 18:23

Yes in a number of different ways as per above.

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By Matrix
12th Jun 2019 18:26

Why though? You would need to remap in Taxfiler whereas VT final accounts prepares the accounts at a click of a button.

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Replying to Matrix:
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By daviddaniels
13th Jun 2019 09:56

Thinking about it, there's no need. The iXBRL accounts can be produced by VT and attached to the CT600 in Taxfiler.

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