Chart of Accounts . . . Edit Tax Codes, or Edit Schedule M-3 Tax Codes

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Important reminder!

Product support for Engagement CS is ending on September 30, 2020. See Engagement CS license expiration 2020 - frequently asked questions for more information.

Licenses for Payroll CS, Trial Balance CS, and Write-Up CS permanently expired on March 1, 2017.

Some processes documented in the Help & How-To Center are no longer applicable, due to the discontinuation of Creative Solutions Accounting.

This dialog enables you to edit the tax codes used for the data-exchange interface from CSA to UltraTax CS or to GoSystem Tax RS, to associate the balances from specific general ledger accounts for tax reporting. This information enables UltraTax CS or GoSystem Tax RS to carry the general ledger balances to the proper lines on the appropriate tax forms.

When the Setup > Chart of Accounts window is active, choose Edit Tax Codes or Edit Schedule M-3 Tax Codes from the Edit menu or from the F3 or right-click context menu.

To add or update the tax code for one or more accounts that should share the same tax code: Double-click each account to move it to the right-hand (Selected) pane, choose the appropriate code from the drop-down list in the Tax Code field, and then click the Update Selected Accounts button.

  • The Schedule M-3 tax codes are distinct from the regular tax codes. Codes assigned in the Schedule M-3 Tax Code Editing dialog are used exclusively to map (adjusted) book amounts to Column A of Schedule M-3. Regardless which basis is selected when importing amounts into UltraTax CS or GoSystem Audit, the (adjusted) book amount will always flow to Schedule M-3. See also Schedule M-3 tax code assignment
  • For Write-Up CS users transitioning from WS2: In Write-Up CS, the tax code number functions in place of the Tax Line Grouping number (TLGs) entered in The Write-Up Solution II (DOS). You do not need to update the tax code number in response to tax forms changes because UltraTax CS or GoSystem Tax RS handles that automatically (beginning with tax year 1999).

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Related topics

Chart of Accounts [Setup menu]

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)

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