About Roll Forward

You can roll forward your previous taxation years' returns that were prepared with Corporate Taxprep, Profile or TaxCycle.

When a client file is rolled forward, all of the permanent data (e.g. identification) is retained as well as the notes entered in the properties of the file and the carryforward balances. Where necessary, closing balances from the prior year are rolled forward to opening balances in the current year (e.g. the balance of undepreciated capital cost). In addition, the details from the previous taxation year's return are also retained for comparison purposes.

The roll forward can be carried out from the Client Manager or the Tax Return view.

Configuring roll forward options

Before rolling forward last year's client files , we suggest that you verify that the default roll forward options in Corporate Taxprep meet the requirements of your firm. To define the default options that will be used during each roll forward, proceed as follows:

On the Tools menu, click Options and Settings.
Under Roll forward, click File Options to define the roll forward options.
Under Roll forward, click Data Options to define the rolled forward data.
Select the options.
Click OK.

These defined options can be modified when rolling forward one or more client files to comply with a specific situation. To define the options for a specific roll forward operation, use the Roll Forward dialog box that automatically displays before roll forward. If this box does not display, access the default options as indicated above, then select the Show options before roll forward check box.

Rolling forward with different versions

You can roll forward files created with a current or a prior version of Corporate Taxprep. Consult the Version Coverage help topic for more information about the taxation years covered by each version of the program.

Roll forward of ProFile files

You can roll forward ProFile files created with a ProFile version covered by the current version of Corporate Taxprep.

During roll forward, a Taxprep client file will be created: the name of the Taxprep file will be identical to the ProFile file (.GT2) while the extension will be .2xx where xx represents the taxation year-end date of the corporation. For example, if the ProFile file ClientABCGT2 is rolled forward and the corporation's taxation year ends in 2005, the created Taxprep client file will be ClientABC.205.

Roll forward of TaxCycle files

You can roll forward TaxCycle files created with the versions of this program that are supported by the current version of Corporate Taxprep.

During roll forward, a Taxprep client file will be created. The name of this client file will be identical to the TaxCycle file, but the Taxprep client file will have a different extension. The extensions allocated by TaxCycle correspond to the version of this program used to save the file, while those allocated by Taxprep depend on the corporation’s taxation year end date. For example, if the TaxCycle file ClientABC.2016T2, created with version 2016 of that program, is rolled forward and the corporation's taxation year ends in 2015, the resulting Taxprep client file will be named ClientABC.215.

T2 Data Connection

Since client files are renamed during roll forward, the links created in each client files are not rolled forward. Once roll forward of the files is completed, you must select the current year client file using the Update Link to Corporations command.

Also, you can use the Xpress tool or consult the status bar to know the value of the previous year of the selected cell to help you create new links and determine the optimal allocation.

Password-protected files

During the roll forward, the passwords assigned to the client files from the previous taxation year will be saved. It is important to keep your passwords.