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Razor Accounting
October 17, 2019
Question

GIFI Export Quickbooks Desktop

  • October 17, 2019
  • 1 reply
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This question is for Quickbooks Desktop. Does anyone know how to export a balance sheet and income statement to Excel with the GIFI included in the Excel report?

    1 reply

    L
    LauraAB
    October 17, 2019

    Hello Razor Accounting,

     

    Great question! It is that time of the year again where businesses are starting to think about the tax filings and needing GIFI files. I'm here to help.

     

    Producing and exporting GIFI files from QuickBooks Desktop Canada isn't an integrated feature at this time. This means exploring other ways to get the GIFI information you need. Something like this page from the Government of Canada website may be of use to you: General Index of Financial Information (GIFI)

     

    Exporting your reports is as simple as clicking the Excel button on the report window and choosing how you want to export it. Learn more about exporting here: Import/Export Overview

     

    For more information about reports, check out this article: Understand reports

     

    I recommend leaving feedback about your interest in GIFI files for QuickBooks Desktop by going to Help then Send Feedback Online. This is a great way to share with us the features you're looking for in the program.

     

    Enjoy your day. :)

    Y
    Yourkard
    January 28, 2020

    Why isn't producing and exporting GIFI files from QuickBooks Desktop Canada an integrated feature at this time? QB has been around for many years. Should be a standard report. I believe some tax programs can access QB desktop and import the GIFI data directly. So the data is in QB desktop but not available for people that have bought the software?

    L
    LauraAB
    January 28, 2020

    Hello Yourkard,

     

    I appreciate you chiming in as a follow-up on this question. I hear what you're saying about how useful this sort of thing would be and I'd like to give an update to my previous response from late last year.

     

    In QuickBooks Desktop, you can add Tax-Line Mapping to accounts that you are setting up or have set up in the Chart of Accounts. These ultimately contribute to the GIFI codes that populate when you use other tax programs, such as Intuit ProFile for your tax preparation. Here's what that looks like.

     

     

    All the same, the tax-line mapping still doesn't produce a column on the standard balance sheet or income statement reports, and columns cannot be added to those reports. If you'd like to see a report that does show the tax-line mapping, I recommend running the Balance Sheet Detail report, the Profit and Loss Detail report, or the Account Listing report.The Balance Sheet Detail and Profit and Loss Detail reports will show the tax-line mapping related to the specific transactions in the accounts. The Account Listing report will show you the tax-line mapping for the account in question.

     

    The Account Listing report should automatically include the Tax Line column, but you can add it to the other two by going to Customize Report, then finding it in the Columns list on the Display tab. Once you check it off and select OK, it'll appear.

     

    It may help to export one of these reports and use it with the CRA's guide for GIFI codes that I linked in my original response. Otherwise, I encourage you to continue to use your tax preparation software to access the GIFI codes.

     

    Submitted feedback is still an excellent idea in this situation. Many current features in the program came from input from users such as you.

     

    I hope this helps!

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