Our friends at TaxCycle have announced a cool integration with PaymentEvolution Payroll that seamlessly brings in your year-end tax slips (ie T4 slips) so your accountant can prepare your personal tax return. You don’t need to hang onto paper slips just so you can do your taxes – with TaxCycle, you can import your slip electronically and avoid data re-entry errors.
“Reducing data re-entry is critical to running an efficient, profitable tax practice,” states CEO & Founder Cameron Peters of Trilogy Software (makers of the TaxCycle suite). “PaymentEvolution already offers electronic delivery of T4 slips to employees. Now these employees can provide that electronic file to the tax professional preparing their personal tax return in TaxCycle T1. No need to print the slip, so there’s no data re-entry.”
The TaxCycle team has created some of the best tools for document management and professional tax preparation. If you haven’t tried TaxCycle yet, you can get a free trial at http://TaxCycle.com
Improving the workflow of tax preparers is the mission of Cameron and the TaxCycle team. He says, “Data integration like this one is especially important for preparers during busy tax season. A quick export of an XML file for drag-and-drop import into a TaxCycle T1 return not only saves precious time but prevents critical data re-entry errors. Every minute a tax preparer spends on data entry, or reviewing re-entered data, is one that could have been spent providing tax expertise to their clients.”
The PaymentEvolution T4 import will be available in early 2015 for preparing 2014 T1 personal tax returns. TaxCycle users will be able to drag and drop XML files onto the TaxCycle window to quickly add the slip data to the personal tax return.
See the press release announcement here: Drag-and-drop import of PaymentEvolution T4 slips into TaxCycle T1 personal tax returns