Reporting Investment Income (For New Zealand)

The NZ Investment Income Reporting module, found in Main Menu > Accounting > Trust Accounting > Investments, produces the file required for reporting investment income using the myIR File Upload service from the 1st April, 2020.

To create the investment report:

1.  Click on Main Menu > Accounting > Trust Accounting > Investments (Controlled Monies) > NZ Investment Income Reporting. 
2. Fill in the NZ Investment Income Reporting window:
   
   
   
   1. Date From: The earliest date of the range of the report. Defaults to the first day of the previous month.
   2. Date To: The latest day of the range of the report. Defaults to the last day of the previous month.
   3. Tax Types supported:
      1. IPS: Interest pay as you earn (default selection). 
      2. NRT: Non-resident withholding tax.
   4. Original or Modification:
      1. Original file format: The default selection. Use this when creating a new file. Using this option results in an O in the Header Information > Assessment Status field. 
      2. Amendment file format: Use this to create an amendment form. For example, if you have created an original file but have found a mistake, select Amendment File Format to submit a new version of a file. Using this option results in an R in the Header Information > Assessment Status field.
   5. IRD Contact: Displays a Resource list for the selection of the IRD Contact. Defaults to the logged-in user.
3. Select OK. The grid will fill with the relevant information. To modify the details of any entity found in the results, click on an entity row and open the context menu, then Connect to Entity. LawMaster divides the results into two tabs:
   1. Certificate Details: Outlines all client details. Displays the columns required to meet the upload requirements based on the Tax Type selected.
   2. Header information: Details any information relevant to the IRD contact and the firm. Displays File Header Record columns required to meet the upload requirements based on the Tax Type selected. 
4. Resolve any errors in the Export Errors column. These may be resolved by selecting Connect to Entity from context menu. The Export to File option from the Grid Menu will not be available until the errors are resolved:
   
   
5. Once the information displays as desired, export the file, using the Export to File button on the grid menu.
6. LawMaster exports the file. The location of any exported file is determined by the Parameter Type FF > Par Code IR15, and Par Code IR67.