EXPLORING PROFILE Chapter 6

ProFile ProFile T1 software is reliable, easy-to-use and offers sophisticated features that will make the tax season more productive for even the experienced T1 tax professional. ProFile T1 can capture the data from past year returns created using certain competitors’ software. Whether you carry forward individual client files, or carry files forward in batches, you will find the process quick and convenient. Using ProFile`s WYSIWYG (what you see is what you get) forms, you can view and edit federal T1 and Québec TP1 forms in French or English. When it comes time to print a return, you can print the forms in either language or both, at the click of a button.

ProFile cont’d New User If you are a first time ProFile T1 user, follow this checklist to set up the program and get ready for using the software. Configure tax preparer information. Enter your preparer information under Options > Environment > Preparer. If you are a discounter, complete the information in Options > Trustee. Review ProFile options and database settings.

ProFile cont’d Review ProFile options and database settings. Under Options > Module > T1, you’ll find items that relate specifically to working with T1 returns (such as file management settings, a disclaimer that appears on some forms and a form header that will print on all forms). Database, you’ll find settings related to the database. Carry forward data from last year’s tax software. Look under Options > T1 for specific carry forward features.

ProFile cont’d Decide to print joint (husband and wife) or individual client letters and invoices. If you do not want to print letters and invoices addressed to both husband and wife together, go to: Options > Module > T1 > General > Options and clear those options. Otherwise, ProFile will print joint client documentation. You can also decide if you wish to have formal (for example, Dear Mr. Smith:) or casual (for example, Dear John:) salutations.

ProFile cont’d Review other options. Set up tax return defaults. Take some time to review the other options found under the Options menu. The software ships with the most popular options selected, so unless you have different preferences, the defaults should be acceptable. Set up tax return defaults. When you create new tax returns, you may wish to have certain fields default to your usual values -- for example, the province of residence. Just follow the instructions for creating a file based on default settings.

ProFile cont’d Set up EFILE using the EFILE > Options Wizard. If you EFILE your returns, you’ll need to configure your EFILE > Options. You can easily do this by running the EFILE > Options > Wizard that guides you through the setup process. Run the tutorials. I know you are anxious to get started, but I recommend you take the time to go through the tutorials (in the main menu). These will demonstrate many of the basic concepts of ProFile.

Quick Start When you start the software, you will see the QuickStart dialog box: To see the QuickStart options for different ProFile modules, click the tabs across the top of the QuickStart dialog box. A tab will appear for each installed module that’s included in your license (under Help > License). Click a down arrow beside a tab for access to multiple years of some ProFile modules. If you’ve never run ProFile before, I recommend that you try the tutorials and use the other tools available from Resource Corner to familiarize yourself with the basic operation of the software.

Quick Start cont’d From this dialog box, you can also choose to create a new file. Click [Open] an existing file to work on a file you saved previously. This functions the same way as the File menu option File > Open. Click [Carryforward] a file to carry forward a tax return from a previous year. ProFile maintains a list of files you’ve worked on recently. To re-open a recent file, double-click on the file name in this list. This functions the same way as the menu option File > Reopen. Clear this checkbox if you do not want to see the QuickStart dialog each time you start ProFile. You can re-activate the QuickStart dialog box from the Help menu.