Reporting Partnership, Interest & Dividend Income, Capital Gains and Rentals For Trust

Make sure to activate the "Interest", "Dividends" and "Partnership" Financial Image

Be sure to navigate to each element and complete the relevant tax facts. DO NOT confuse imported accounting facts with tax facts.

As an example, + Total Dividends is the accounting fact that arrived via the import process from the connected accounting system. Note that + Dividends is 0. This is because we've not added the relevant tax facts. Also note that there will be a Decrease in Dividends in the reconciliation section because the taxable dividend facts are less than the accounting fact value.

Once you've added your reportable taxable dividends and the associated tax credits, the accounting facts equal the tax facts and there is no reconciling difference. (In this example the accounting facts were imported from QuickBooks Online')

If there are differences between accounting and tax facts, the differences will be reflected in the Reconciliation section of the form.