Importing accounts data from other packages

You can import accounts data from other packages by clicking Import accounts... within the self-employment data input screen. This will show a popup where you can select the accounts data you wish to import.

VT (Standard Name Format)

Several accounting programs export data in VT Software’s Standard Name Format, including of course VT Final Accounts. Taxfiler supports the export to clipboard option from these products.

Access the facility in your accounting program which exports the data. Ensure you choose the option to export to clipboard.

Once you have exported the data, open or create the necessary self-employment section in Taxfiler and click Import accounts..., then choose the option for VT (Standard Name Format).

You will be shown a popup with an empty field into which you should paste the contents of the clipboard. Either right-click on the field and click Paste or click in the field and press CTRL+V (Windows) or Command-V (Mac).

Next click Validate. Taxfiler will scan the pasted text and show a screen showing the data that it recognises. For each element of data Taxfiler will show the tax return field that the data will be imported to and the amount that will be included. If you have included any disallowable figures these will also be shown.

Once you are happy that the information is correct, click Update and the accounts data will be copied to the fields on the screen. You must click Save changes as normal to save the screen.

We at Taxfiler would like to thank VT Software for developing an open standard for transfer of accounts data. Anything that helps our users is appreciated.

Xero (Cloud Accounting)

Xero is easy to use online accounting software that’s designed specifically for small businesses. If your sole-trader clients or partnerships use Xero and you have access to their data then you can download their balances straight to the tax return from Xero.

First open or create the necessary self-employment section in Taxfiler and click Import accounts..., then select the option for Xero (Cloud Accounting).

A new browser window will open. If you are not already logged into Xero you will be asked for your Xero login details. Login to Xero as normal.

After login, Xero will show an Authorise Application page. This is where you authorise Taxfiler to read the data from your Xero account. Select the organisation that contains the accounts to import, then click Authorise.

Note that Taxfiler will only be able to view the data from the organisation for which you give permission. Taxfiler does not modify any of your Xero data.

After you have authorised the access, Taxfiler will read the organisation name, description and accounting date from Xero. You may change the account date and the description if you wish. Any changes are within Taxfiler only and are not changed in Xero. When you are satisfied that the details are correct, click Review Balances and Taxfiler will extract the relevant balances from Xero and attempt to map them to the appropriate tax return fields.

Taxfiler will show you the account codes and balances extracted from Xero and indicate what field mappings it is using. At this point you can modify the mapping to ensure that all the values are transferred to the correct P&L and Balance Sheet fields. You may also review and amend any disallowable expenses.

When you are happy with the mapping, click Save and the data will be transferred to the correct fields on the self-employment screen. You must click Save changes as normal to save the self-employment screen.

Watch a video of the Xero link in action: