The importation of a trial balance is the most important aspect of an ITR14 as it is the core of producing an ITR14 tax return and the most time consuming. Get this right and the production of the tax return flows.
The system can import any TB in a csv format provide the TB is set up properly. The system will lead you through this importation process. Click on the import button to proceed.
The basis of the importation works on source codes, so it is very important to have the source codes in the excel spreadsheet. Sky Tax allows the mapping of account codes on the TB to source codes.
It is important to note that SARS does not use source codes anymore, we have basically taken the SARS source codes from the past and added our own codes to the new line items that they have added to the tax return from the 2013 tax year.
The screen below shows the financial information tab highlighted with the balance sheet open. You will see source codes on the right hand side. You will also note tabs going across the top. The screen below depicts non-current assets and to the right of that there is a tab called current assets and so on. As you click on each one the respective assets will display with the source codes that are.
All the figures can be inputed manually by making sure the edit mode icon is click and once completed press the save icon.
In order to import click on the button Trial Balance to import and the following screen will display. You will notice there is Import TB CSV and this is the one we are going to use because we have saved the trial balance in its csv format. You will notice that there is also a delete button and you can edit the trial balance as many times as you want, but delete it before you re-import. The video above shows how the import function works.
