Oct 30 Jazzit Fundamentals Update Available

Friday, October 30, 2015

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Jazzit has released an update for Jazzit Fundamentals on October 30, 2015. Administrators please click on the link for the log of revisions: Download Revisions Log

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Thanks to everyone who sent in their feedback to us. The following updates are included in the October 30, 2015, Jazzit Fundamentals update:

*New Statement* IS2 - Statement of Changes in Equity

We have added the statement of changes in equity to the financial statements. The statement can be used as an alternative to the statement of retained earnings, and provides columns for accounts such as share capital, accumulated comprehensive income, and minority interest.

Note: This statement is selected from a dropdown in the statement of retained earnings ONLY when using the 9 column financial statements and the structure is set to a limited company. This statement also requires additional style sheets and database files updated in the Resource Centre before use.

JZUPDATE - RC Update Control

- When connected to an update folder, the JZUPDATE will now display which build version is located in the update folder.

- The status column will no longer display a warning if the module in the current Resource Centre is newer than the update folder.

CA/CB/IA - Amortization Working Papers

Added the ability to delete multiple rows in multiple tables throughout the working paper, similar to how multiple rows are inserted in the working papers, under the document option settings.

K3A - Significant Accounting Policies

Headings can now be shown in italics (with/without underlining and bolding).

KJ - Related Party Transactions - Option 2

Note now supports the ability to display as many related parties as required. Please see the first three related parties already inserted for guidance on how to create more.

IS/IS2 - 2 Column Income Statement / 9 Column Income Statement

The statement of changes in net assets now supports the ability to disclose prior period adjustments the same way the statement of retained earnings does.

CL - Client Enclosure Letter

- GST tax - Added wording for electronically filed.

- Government of Canada direct deposit - Added a paragraph with wording indicating a switch to electronic filing of returns, and information on registration for the process.

EL/RP - Engagement Letter / Engagement Report

The engagement report heading can now be set to left, centre, or right aligned and the case can be in either upper or lower via the report options, found at the top of the report.

SCMGTR - Management's Responsibility for the Financial Statements

The heading for the report can now be set to left, centre, or right and the case can be in either upper or lower via the management responsibility options, found at the top of the report.

TC - Table of Contents

- The page title case for the engagement report is now linked to what has been selected in the engagement report options below.

- The word "Financial Statements" can now be set to upper or lower case.

- The word "Financial Statements" can now be turned off if required.

MG - Materiality Guidelines

Calculations of posting threshold - Section has been added back to the template and enhanced.

JZNET - Net Worth Statement

- The headings (including page title, signature boxes, and index number) for the statement can now be turned off if required.

- Other minor visual changes have been tweaked.

JZSR - T4 Reconciliation

The "Other deduction 1/2/3/4" columns can now be turned off and have their headings adjusted via settings in the salary reconciliation options.

CP - Home Menu

The Status column, located under Admin, will no longer display a warning if the module in the financial statements is newer than the Resource Centre.

BS/BS2/BS3 - 2 Column Balance Sheet, 2 Column Balance Sheet with Opening Balance, 9 Column Balance Sheet

The share capital section will now retain details for authorized and issued shares even after updated the balance sheet from the Resource Centre.

TX - Income Taxes

The estimated tax savings calculation has been adjusted to use the ending loss carry forward balance instead of the opening balance.

We hope you enjoy the improvements to Jazzit Fundamentals!