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Level 2

Will Profile be updating its software so as to carry the files backward to prior years rather than just carry forward?

I have to open in 2017. It would be great to just change the year to start a prior year file. Your competitors products can do it. 

7 Comments
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Level 1

Will Profile be updating its software so as to carry the files backward to prior years rather than just carry forward?

I have used other products as well and don't know of any that carry back. That being said when you are starting a new file for a prior year just click on the down arrow beside the 'file new'  and then choose the year that you want. The prior year will be listed or you can choose 'older T1 modules'. Then you can carry it forward if you wish. Hope this helps. 

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Level 1

Will Profile be updating its software so as to carry the files backward to prior years rather than just carry forward?

I think the problem is that we can only e-file the T1013 from the 2017 T1 program and then we have to start at the oldest tax year and enter all the information again.  I usually fill in the bare minimum in the new 2017 return to get the T1013 printed, signed and then e-filed.  Then I start at the year that I need to.
Level 2

Will Profile be updating its software so as to carry the files backward to prior years rather than just carry forward?

Hi sds1, I used a Thomson Reuter's  product for a number of years ( DTMax)  and they have a system where, after entering the current year information, you just have to click on 'change tax year' and the entire information page will automatically copy into  whatever year you open, forward or backward. It will also include the current year in the five year summaries. I find it puzzling that Profile does not provide a similar feature.
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Level 2

Will Profile be updating its software so as to carry the files backward to prior years rather than just carry forward?

Thanks for you response Dianne. That is exactly what I do, too. It does surprise me that after I file the T1013, I can't just open a 2009 file and have the client's name. DofB, address, etc automatically populate the form. Profile also would not pick up the information from the 2017 file for the 5 Year Summary.  It could be that I'm doing something incorrectly?
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Level 1

Will Profile be updating its software so as to carry the files backward to prior years rather than just carry forward?

When I get finished with 2016, I carry forward to 2017 to create a whole new file, overwriting the one I set up to e-file the T1013.  That way, you can get all the info correctly on the 5 Year Summary.
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Level 1

Will Profile be updating its software so as to carry the files backward to prior years rather than just carry forward?

You are right. I do the same thing to get the T1013 and then go back to the first year I have to do and carry forward from there. I have used DT Max too and agree that Profile should work the same in carrying the basic info to any year, but I was thinking of business info that can't be carried back, only forward. I am wondering how important it is to have the T1013 confirmation in the file. Dianne you said you start a new 2017 to have the carry forwards, but then you would lose the T1013 confirmation. I always write the number on the folder but have been manually entering the carry forward data (mainly business info) so as to not lose the fact that the T1013 has been accepted.
Highlighted
Level 1

Will Profile be updating its software so as to carry the files backward to prior years rather than just carry forward?

If you keep paper files, you can always print the T1013 confirmation and keep that.  Our thought is that we have the signed hard copy of the T1013 and we have the access, so we were not concerned about proving that we had e-filed the T1013.