UltraTax CS: Second Chance at 2012 Year-End Training
Level: Intermediate
Designed for new and existing users with a working knowledge of UltraTax CS, this course highlights the new features and data entry areas for 2012, as well as the enhancements to existing features and data entry areas. For new users who have not used UltraTax CS during tax season, prerequisites include the UltraTax/1040 Essentials 1 and UltraTax/1120 & 1065 Essentials 1 courses. A high-speed Internet connection is required for this web-based class. Target Audience: Management & Professional Staff.
Course Objectives:
- Learn about new program features and data entry enhancements for 2012
- Discover options to customize your everyday experience with UltraTax CS
- Gain an in-depth view of data sharing and integration enhancements
- Learn about the top changes for major federal entities
- Take your firm’s workflow to the next level with review tools and help resources
View Topics...
- Streamlined Source Data Entry directly data shares to input screens for corresponding activities
- Leveraging integration with Workpapers CS for comprehensive workpaper management during the preparation process
- Linking to external client documents within the client’s return file
- Calculation of Form 14039, Identity Theft Affidavit (and applicable filing instructions) for individual clients affected by tax return identity theft
- Updated data entry for Foreign employer compensation
- New functionality to for Schedule J, Farm Income Averaging calculations
- New folders added to consolidate data entry for Tax Elections, Retirement, and Carryovers
- Learn how newly added Age fields assist in tax planning for clients near retirement
- Enhanced reporting for Education Expense Optimization utility
- Calculation of FAFSA Worksheet updated to assist clients in applying for federal financial assistance
- Updates to Tax Projection Worksheet calculations for 1040 clients to comply with Affordable Care Act legislation for tax year 2013
- New functionality to display zeroes on Form 1120 series returns in balance sheet fields and statements, when applicable
- Learn how to adjust the purchases account by the difference between beginning and ending inventory on Screen A.
- Tracking prior return data for business clients using Tax Return History reports
- Comprehensive redesign of Partner Data Entry for partnership returns to streamline data entry for Changes of Ownership and Transfers of Capital
- Enhanced reporting capabilities within Partner Data Entry for partnership returns
- New distribute function when you perform special allocations, changes of ownership, and transfers of capital.
- E-mailing a list of missing data to all clients based on missing input screen data (all entities)
- Automatically designating a client as read-only upon making the return as Complete using the client status system
- Maximizing your product knowledge with our new Help & How-To Center