Automatic Journal Entries > Income Tax tab

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Important reminder!

Licenses for Payroll CS, Trial Balance CS, and Write-Up CS (but not Engagement CS) permanently expired on March 1, 2017.

For details, see CSA license expiration 2017 – frequently asked questions.

Some processes documented in the Help & How-To Center are no longer applicable, due to the discontinuation of these CSA modules.

Use the Income Tax tab of the Automatic Journal Entries dialog to set up automatic journal entries based on state or Federal income taxes. When entering income tax information, keep in mind that the application calculates state tax amounts first and then uses that information when calculating federal income tax amounts. If you want to create automatic journal entries for both state and federal income taxes, you must create two separate entries, one each for federal and state. The application automatically annualizes the income before looking at the table.

Note: The application includes a predefined Federal tax table. To edit or add income tax tables, or to set up a fixed percentage, click the Table button.

Choose Automatic Journal Entries from the Setup menu and then click the Income Tax tab.

See also: Automatic Journal Entries [Setup menu]

Special information

For additional information and examples, see Automatic Journal Entries in Write-Up CS (PDF).

If multiple automatic journal entries have been set up for the client, the application completes the calculations in the following order: (1) percentage; (2) inventory; (3) state tax; (4) federal tax; (5) overdraft.

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