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Product support for the ended on September 30, 2020.
- Write Up CS
- Payroll CS
- Engagement CS
- Client Bookkeeping Solution
- Financial Analysis CS
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Use the Tax Code Account Groupings dialog to set up tax code account groups at the client level. These groupings can be used to provide summary information in tax code reports rather than the default detail account information. More important, when the client is imported into UltraTax CS or GoSystem Tax RS, these tax code account groupings provide summary information on subschedules instead of the standard line-by-line account detail.
Choose Setup > Tax Code Account Groupings - or, when the Setup > Chart of Accounts window is active, choose Tax Code Account Groupings from the Edit menu or from the F3 or right-click context menu.
Note: Tax code groupings override tax codes assigned to individual accounts.
Fields & buttons
Lists the tax code account groupings already entered for this client and displays the grouping description, range of included general ledger accounts, and tax code number.
- To add a new tax code account grouping, click the Add button.
- To edit an existing tax code account grouping, highlight it and then click the Edit button.
- To delete an existing tax code account grouping, highlight the grouping and click the Delete button. You will be prompted to confirm the deletion.
- To enter or modify the selection of general ledger accounts or ranges, highlight the grouping and then enter the desired ranges or individual accounts in the grid.
A red bar next to a tax code indicates that the code is invalid based on the current year's forms. This serves as a reminder that the tax code needs to be updated before the tax forms are printed.
- For a new tax code account groupings: Enter a description, which may include letters, numbers, spaces, punctuation, and the underscore ( _ ) character.
- For an existing tax code account grouping: Displays the description assigned to the grouping highlighted in the list. Note that an existing description cannot be modified. However, if you need to change the description, you can delete the tax code account grouping and then re-add it with a new description.
The tax code number is used in the data-exchange interface from CSA to UltraTax CS, GoSystem Tax RS, and - in the Trial Balance CS module, to Lacerte or ProSystem fx - to associate the balances from specific general ledger accounts for tax reporting. It enables UltraTax CS, GoSystem Tax RS, Lacerte, and ProSystem fx to carry the general ledger balances to the proper lines on the appropriate tax forms.
The options available in the drop-down list for this field are based on the client's entity type, as selected on the General Ledger tab (or Trial Balance tab for Trial Balance CS clients) of either the File > Client Properties dialog or the File > New Client dialog.
For a new tax code account grouping: You may choose the appropriate tax code number by selecting it from the drop-down list.
For an existing tax code account grouping: Displays the tax code assigned to the tax code account grouping currently highlighted in the list. To change the tax code number, click the Edit button and then choose the appropriate tax code number by selecting it from the drop-down list.
Notes
- Invalid Tax Codes: A red bar next to a tax code indicates that it is invalid based on the current year's forms. This serves as a reminder that the tax code needs to be updated before the tax forms are printed.
- Valid Tax Codes: All valid, three-digit tax codes for the selected client's business type are available in the drop-down list for the Tax Code field. Additional valid entries are as follows.
- Manually enter 1 or 2 prefix digits in the Tax Code field (xxxx or xxxxx) to designate the input screen location for multiple-unit entities. For example, assume you are transferring a farm's utilities expense amount to the UltraTax CS Farm input screen. If the proper tax code number for the first unit's utilities is 1632, you would transfer the second unit's utility amount with a tax code number of 2632.
- Manually enter five 8s (88888) as the tax code number if you want the account to print in the Tax Code Report but not transfer to the tax products.
- Manually enter five 9s (99999) as the tax code number to have it neither print on the Tax Code Report nor transfer to the tax products.
- For a new tax code account grouping: Enter the range of accounts to be included. You may enter the account numbers manually or select them from the drop-down list. You may include multiple ranges - for example 100 to 110 and 120 to 125. To add a single general ledger account, simply enter that account number in the first Account # field.
- For an existing tax code account grouping: Displays the general ledger accounts assigned to the grouping highlighted in the list. To change the range(s) of included accounts, click the Edit button.
Related topics
Creating a tax code account grouping
Renaming a tax code account grouping
Integrating data from CSA with UltraTax CS
Tax Code Listing for Chart of Accounts Setup (PDF)
Tax Code Diagrams for Chart of Accounts Setup (PDF)