Import Fund Tax Data

The Import Fund Tax Data function is available only if you have purchased a license for GiftWrap's Pooled Fund Administration module.

The Import Fund Tax Data routine updates fields accessible from the Maintain Fund Tax Data function by importing this information from a file.

Fund tax data is allocated across all of a pooled income fund's participants in order to determine the tax information that will appear on their Federal Schedule K-1, California Schedule K-1, and Massachusetts 2G forms.

If a Tax Year in the import file is already stored for the pooled income fund specified in the file record, the values for that Tax Year stored in GiftWrap are overwritten by the corresponding values found in the file. If the Tax Year in the file is not already stored for the specified fund, the Tax Year and associated values in the file are added as a new record in GiftWrap.

The import file must meet the format specifications described in the Import file requirements section below.

1. Click PIF > Import Fund Tax Data in the Menu Bar.

2. Mark the First line is column header check box if your file includes column headers (strongly recommended).

3. Click .

4. Enter the full path and name of the file whose contents you wish to import or browse to locate the file. Click Open.

5. Click Import. If you see an error log, see Notes below.

6. Once the import completes, a message reports how many records in the file were imported successfully and how many were not imported.

Import file requirements
Import Fund Tax Data requires the import file to be a comma-delimited text file with a ".csv" extension ("csv" stands for comma separated values) or a tab-delimited text file with a ".txt" extension. The easiest way to save a comma-delimited or tab-delimited file is to work in Excel and, when done, save the file in one of these formats. When you save an Excel file in .csv format, Excel will automatically place quotes around any text value that contains a comma.

Each line in the import file should correspond to a separate gift record in GiftWrap. Each line must contain valid dollar amounts for any filled-in income data fields, a valid tax year, and a value for at least one of the following that matches a value in a pooled income fund setup record stored in GiftWrap: Tax ID #, Pif Account 1, Pif Account 2, Pif Account 3, or PIF Key.

In order for fund tax data to be imported, all gift identifiers supplied on the line must match the corresponding values in a pooled income fund record in GiftWrap. Import Fund Tax Data will import fund tax data only from those lines in the import file that meet these criteria.

Optional column headers
While column headers are not required by GiftWrap, we strongly recommend that you include them in the file. Column headers can simplify proper formatting of the import file. They also make the file's contents easier to understand.

The column headers in the Import Fund Tax Data file can use any names you want, but should relate well to the field they label. For example, use a header such as TaxID# to label the Tax ID # field. You can use uppercase or lowercase letters in the column headers. As with all records in the file, each header must be separated by a comma.

File format
Each line of the import file must be laid out as follows:

Tax ID #, Pif Account 1, Pif Account 2, Pif Account 3, PIF ID, TaxYear, DividendRegular, DividendNonQualified, DividendUS, InterestCorp, InterestUS, InterestMABank, OtherIncomeRegular, OtherIncomeUS, ForeignTax, Adjustment

For example, a line containing a Tax ID # of "123456789", a Pif Account 1 of "100", a PIF ID of "2", a Tax Year of 2003, a DividendRegular of $1,000.00, and an InterestCorp of $500.00 would look like this:

123456789,100,,,2,2003,1000,,500,,,,,,,

The same line, but without Account # and PIF Key values would look like this:

123456789,,,,,2003,100000,,50000,,,,,,,

A five line file might look like this, for example:

123456789,,,,,2003,1000,,500,,,,,,,
123456789,,,,,2002,1100,,510,,,,,,,
123456789,,,,,2001,1200,,520,,,,,,,
123456789,,,,,2000,1300,,530,,,,,,,
123456789,,,,,1999,1400,,540,,,,,,,

Each line of the file is evaluated independently. Although it is typical for all lines of an import fund market values file to use the same value(s) to identify each gift record, they don't have to. One line could use the Tax ID #, while another line uses PIF ID.

Tax ID # format requirements: Tax ID #s may contain hyphens. You may express "12-3456789" as "123456789" or "12-3456789" in the file.

Fund Tax Data format requirements: All fund tax data fields are dollar amounts. They must not contain commas or dollar signs. They may contain a decimal point. Express "$10,000.00" as "10000" in the file. Express "$12,345.67" as "12345.67" in the file.

Notes:

· If you see an error log, we recommend that you fix the errors in the file that it identifies, then run Import Market Values again.

You can print the error log or save the log in a file that you can print or review later. Click Continue and go to the next step in the procedure. If you click the Continue button, Import Market Values will import all valid records in the file and ignore all invalid records in the file.