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Reckon Elite

 

Reckon Elite Practice Management

Practice Management

Product Update | 1.20.8.0

The following application changes have been made within this version:

  • Included the ATO's fix for IITR.730239. This would affect any Individual return with a PSI payment summary with a payment type of 'Labour hire', or 'Other specified payments'.  While the error will be cleared from the return with this update, the ATO are scheduled to update their gateways on the night of Friday 17th July.  Attempting to lodge returns which previously had this error before then will result in a rejection with the same error code.
  • Corrected an issue which could cause amounts from Interest or Dividends items in 2020 Individual returns to be lost when importing a job export.
Reckon Elite Tax

Reckon Elite Individual Income Tax Return (IITR)

Product Update | 20.0.3.0

The following application changes have been made within this version:

  • Managed Funds distribution worksheet has been reinstated. For 2020, a taxpayer's share of the amounts has been added in line with new ATO specifications.
  • Income Tests IT1 has had manual entry of amounts disabled.  All amounts of reportable fringe benefits must now be entered using the PAYG Summary worksheets with other associated amounts. This is in line with new SBR specifications. If amounts have been previously entered in manually at this item, you will be prompted to delete these.
  • Income Tests IT2 has had manual entry of amounts disabled.  All amounts of reportable employer superannuation contributions must now be entered using the PAYG Summary worksheets with other associated amounts. This is in line with new SBR specifications. If amounts have been previously entered in manually at this item, you will be prompted to delete these.
  • Update T7 and T8 to show amounts of early stage offsets distributed from a managed fund.
  • Corrected an issue with Income Q24 - Other category 4 income which could cause validation error IITR.730295.
  • Corrected an issue with pre-filled amounts at Income Q6 which could cause validation error IITR.730073.
  • Corrected an issue with professional income amounts entered at Q24 which could cause IITR.730436.
  • Corrected an issue on the Tax Offsets summary screen in the Tax estimate which caused Early stage investor offsets not to display.
  • Corrected the rounding of amounts in Trust distributions. These are now truncated correctly.
  • Removed the cents from the new Multi Rental Property schedule. While the ATO specifications allow cents for these items, several validation rules will fail under certain circumstances due to the truncation required when reporting on the main form, preventing lodgement. Cents will be re instated in the future when the ATO corrects these issues.