Tax Codes screen or Firm Tax Codes screen

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Accounting CS provides a set of predefined tax codes that can be assigned to GL accounts. Reports can be generated that provide totals for each code that also serve as bridge amounts for integration with tax applications.

Use the Firm Tax Code screen and the Tax Code screen to add, edit, or delete custom tax codes, which can then be assigned to accounts for grouping into a single line item for integration with other tax applications and to display on various Accounting CS reports. Custom tax codes may also be added on-the-fly to lists in which tax codes or M-3 tax codes are selected.

You can set up tax codes at a client level, or you can set them up at a firm (global) level.

To set up firm-level (global) custom tax codes, choose Setup > Firm Information > Firm Tax Codes and select the entity type from the drop-down list in the first field.

To add or edit tax code descriptions for a custom tax code, choose Setup > Tax codes and then click the Add or Edit button.

Note: After you add the tax code information, the Subcode field becomes unavailable (grayed).

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Fields & buttons

Select the applicable entity type for the client - 1120, 1120S, 1065, 1040, 1041, 990, 990PF, 5500, 1120 Puerto Rico, 1120S Puerto Rico, 1065 Puerto Rico. The application uses the entity type to determine which tax codes will be available to be assigned in the Setup > Chart of Accounts screen.

Select the applicable tax code for the client - all non-M-3 tax codes and all M-3 tax codes - for the selected entity type.

Enter a unique subcode value of up to two characters per tax code. The same subcode can be used for multiple tax codes.

Enter an optional description that is no more than 50 alphanumeric characters in length.

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Related topics

Tax code assignments for GL accounts

Adding custom tax codes

Assigning tax codes to multiple accounts

Examples of tax code adjustment entries

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