Override of GIFI field subtotal is incorrect

[reggler]

Hi,

I'm trying to file my business taxes but upon entering all my data I get
an error "Override of GIFI field subtotal is incorrect." and no further
details. How do I know what's wrong? I've double & triple checked all the
data entered already... Any ideas and/or hints are appreciated!

Thanks!

[Antoine7]

Hi reggler,

In order to balance your financial statement, verify that the total liabilities (article 3499) plus total equity (article 3620) is equal to total assets (article 2599).

For more information about General Index of Financial Information (GIFI) click on the link below.

Revenue Canada - RC 4088
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4088-general-index-financial-information-gifi.html

Furthermore, UFile T2 will generate a purple error message if the subtotals or total are override.  The totals (fields in bold) are calculated automatically by the software. If you wish to make changes, simply change the items fields and not the totals or subtotals fields.

Note, the fields that are overridden have a red pen on the right-hand side of the GIFI editor. 

To remove the overrides, right click with your mouse on the subtotal or total amount and select clear/reset.

[reggler]

Thanks for your response!

That is exactly what I have, only that my 3600 & 3620 are negative. 

Still, 3499+3620 = 3640. Also I do not see any purple error message nor a red pen or anything but the error message still says "GIFI 100 does not balance (GIFI field 2599 does not equal GIFI fields 3499+3620).".
I'm not sure wast GIFI100 is though.

[A S H]

I have exactly the same problem and above all my expenses are not deducted from my gross  to derive the net income for tax purposes?

I had manually calculated and balance my income statement and balance sheet accounts from the adjusted trail balance.

Edited May 15, 2020 by A S H

[John S. Oakville]

I am experiencing the same cryptic error message.  I obtained my numbers directly from a QuickBooks Tax Summary Report.  Could it be the signage of a particular GIFI Code Value?  The Trial Balance in QuickBooks shows no issues and all accounts are assigned to valid GIFI Codes.  I wish uFile had more documentation on both the GIFI Import feature and the GIFI Balance Sheet and Income Statement procedures.

 

[Aurangzeb]

I am getting the error message "Additions to net income (loss)->Loss from disposal of assets, not equal to GIFI fields 8210+8211+8212+9609". How to get rid of this message as this prevents me from e-file? Anyone can help please?

Thanks,

Aurangzeb

 

[Geo123]

Hello Aurangzeb,

You must cross-check and balance Net income >> Additions to net income (loss)->Loss from disposal of assets
with the T2 GIFI Income statement :
8210 Realized gains / losses on disposal of asset
8211 Realized gains / losses on sale of invest.
9609 Gains / losses on disposal of assets

[Marjan]

Hi every one

I have the same issue. I meticulously input the figures for the income statement many times,  the net loss of $24,739. However, this loss fails to transfer to line 3680 in the balance sheet, disrupting the balance sheet's equilibrium(GIFI 100 does not balance (GIFI field 2599 does not equal GIFI fields 3499+3620). Interestingly, when I select the checkbox for line 9999, the transfer seems to occur, but it triggers another error indicating the override of the GIFI field subtotal is incorrect.) Despite multiple clear/reset data, this issue remains unresolved. I don't know what what's wrong. Could you please identify the cause of this issue?

[Geo123]

Hello Marjan,

For UFile T2 Corporate Tax. 

>>Remove checkmark

RE : Override of GIFI field subtotal is incorrect

UFile T2 will generate an error message if the subtotals or total of your financial statements are overridden.  The GIFI totals (fields in bold) are calculated automatically by the software. If you wish to make changes, simply change the items fields and not the totals or subtotals fields.

Note, the fields that are overridden have check mark on the right-hand side of the amount field.

To remove the overrides, untick the box beside the amount field and let the software do calculation automatically.

[Marjan]

Thank you for your response.  As you see in the picture I entered all expenses in the software the total amount is  24379$ as loss income but when I untick the box beside the amount field the software doesn't calculate automatically so it doesn't transfer to line 3680 in the balance sheet that's why it shows me the below error. I don't know what's happened. 

 balance sheet.

[Geo123]

Hello Marjan,

Please contact UFile Support so we may review the file confidentially. Please include above note.  ATTN : Geo

For T2 ONLINE Support : 
Login in to your T2 account and go to Help (“?” top right corner)
https://secure.ufile.ca/support/contactform.aspx

[Marjan]

Thank you very much for your assistance. I have submitted my query to the T2 Online Support team and now I'm awaiting their response.

[Geo123]

Hello Marjan,

You are welcome.