Export to GIFI

The General Index of Financial Information (GIFI) is a comprehensive list of financial statement items where each item has a unique code. It allows your organization to efficiently prepare its T2 tax return to the Canada Revenue Agency.

With Working Papers, you can export data into a GIFI text file to import into tax applications. The export file is based on your selected tax vendor (not necessary for TaxCycle):

  • TaxPrep: Data is exported to a comma-delimited file (.GFI).
  • ProFile: Data is exported to a comma-delimited file (.GFI) or to a ProFile T2 file (.GT2).
  • TaxCycle: Data is exported to a TaxCycle T2 file (.*T2).

Notes:

  • Assign tax export codes to accounts or enter the relevant codes in the Tax Code column of the Working Trial Balance | Tax tab.
  • The E.I.N./BN (Business Number) field in the Engagement Properties is included in the exported GIFI file. The SIC and AIC fields are not included.
  • Do not use the text file for paper filing.

To export Working Papers data to GIFI:

  1. On the ribbon, click Engagement | Export | GIFI....
  2. In the Export of Data to GIFI dialog:
    • TaxPrep: In the Export Type drop-down menu, select Standard ASCII GIFI file. In the Export File name field, enter a name for the file.
    • ProFile: In the Export Type drop-down menu, select Standard ASCII GIFI file for .GFI exports, or Direct export to ProFile T2 for .GT2 exports. In the Export File name field, enter or Browse for the location of the existing ProFile T2 file where you want to export your data.
    • TaxCycle: In the Export Type drop-down menu, select Direct export to TaxCycle T2. In the Export File name field, enter or Browse for the location of the existing TaxCycle T2 file where you want to export your data.

  3. Select which documents to include in the export:

    • Balances: Select any applicable export options in the dialog. If you select Entity Specific Export, a dialog displays where you can select the entity to export.
    • CaseView Notes: Click OK. A dialog displays where you can select the CaseView documents containing the notes you want to export.
    • Balances and CaseView Notes: Select any applicable export options in the dialog. If you select Entity Specific Export, a dialog displays where you can select the entity to export. Click OK. A dialog displays where you can select the CaseView documents containing the notes you want to export.

    Note: For CaseView Notes to be listed in these dialogs, you must create a section around the note in CaseView and enable the Include in Export option. For more information, see Export financial statement notes.

  4. Click OK to complete the export.

The data is exported to GIFI. The export automatically adjusts for positive and negative balances as required for GIFI filing purposes. For example, a balance of ($10,000.00) in GIFI code 3600 - Retained earnings/deficit will export as 10,000.00. Balances including cents should be adjusted within the tax application.