Functionality

SR&ED Engineering Inc.

Legitimate SR&ED

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Functionality

Compliance Legitimacy and Productivity

The EasyT661 is an affordable software application that is being used to automate the process of preparing a typical T661 form to claim the SR&ED ITC. The T661 form can be printed as PDF and attached to the T2 corporate return, or copied from the output neutral file to be imported into the accounting package of your choice.

The data can also be automatically imported into Corporate Taxprep** saving the tax preparer from having to re-type it or copy and paste each item.

EasyT661 includes a Time and Activities Tracking Module. This module provides a very effective, easy to use, process to satisfy the recent CRA requirements for good documentation. Furthermore, the entries are stored in the knowledge base library to be later used in the project descriptions.

The program’s transactions are centered around the Tax Manager, or the person who is preparing the Corporate Tax Return. The Tax Manager can request from individual Collaborators to prepare the necessary descriptions of their SR&ED projects. The data will be automatically transferred to the Tax Manger’s computer and the T661 form will be assembled.

Features include:

· Automatic computation of the SR&ED claim – The EasyT661 automatically computes and displays all the financial data required on the T661 form. Revisions to the claimed project costs are instantly reflected by automatic re-computation of the T661 fields. This eliminates the tedious burden of the manual calculation of more than 90 cells. Yet the data can be overwritten manually.

· Multiple Project Support – The EasyT661 allows you to enter information with regard to an unlimited number of SR&ED projects. You can use our generous knowledge base libraries to copy and then edit generic statements that are relevant to your project descriptions.

· Collaborator version – The collaborator version allows the team members to prepare their project information independently and yet still allow the data to be automatically transferred and then imported into the appropriate T661 form of the client’s file or the corporate file.

· Integration – Project information can easily be revised and re-imported into Corporate Taxprep**. The revisions can be done by either the Tax Manager or the Collaborator.

· Project documentation management - The Time and Activities Tracking Module allows the user to link any type of documents (Drawings, memorandum, test reports…,etc) to the appropriate entry. This will satisfy the new CRA requirements in respect of project documentation. Time entries can be exported to Excel sheet, or directly printed to provide an accurate accounting of the SR&ED project costs.

· Easy to use – The EasyT661 resembles the CRA’s T661 form. Actually, it uses the T661 form as its user’s interface. There are only three types of controls that the users interact with. Buttons to invoke the required functions. Grid views for display and selecting records. Text boxes for data entry. Go ahead run the demo to see how easy it is.

· Intelligent Data Entry and Validation – The EasyT661 automatically guides the users through out the process, without intrusions. Information message boxes are displayed when necessary to assist the users to complete their tasks without much guessing or having to review very elaborate lengthy help menus.

· Concurrent processing – The EasyT661 has no limits on the number of concurrent sessions that can be all running at the same time.

**(Corporate Taxprep is copyright to CCH.)